RNS Number:9265N
Nipro Corporation
13 February 2008
Summary Report of Consolidated Financial Results
For the Nine months Period ended December 31, 2007 (Year ending March 31, 2008)
February 12, 2008
Company name: NIPRO CORPORATION TSE/OSE-1st section
Code number: 8086 URL: http://www.nipro.co.jp/
Representative: Minoru Sano, President and Representative Director
Contact: Akihiko Yamabe, Director, General Manager of
Accounting & Corporate Planning Division
TEL: (06) 6372-2331
(Note: Amounts are truncated to one million yen)
1. Financial results for the nine months ended December 31, 2007.
(From April 1, 2007 to December 31, 2007)
(1) Consolidated Results of Operations
Net Sales Operating Recurring Net(Quarter)
Income Income Income
Millions Millions Millions Millions
of yen % of yen % of yen % of yen %
9 months ended 129,982 (10.8) 11,021 10.1 9,840 7.7 5,270 (38.2)
December 31,2007
9 months ended 145,796 (6.6) 10,012 (5.3) 9,139 (16.6) 8,530 85.0
December 31,2006
Year ended 184,362 - 13,053 - 11,355 - 8,555 -
March 31,2007
Earnings Diluted Earnings
per Share per Share
Yen Yen
9 months ended December 31,2007 83.04 -
9 months ended December 31,2006 134.31 -
Year ended March 31,2007 134.71 -
Note: The % displays show increase/decrease ratio against the same period of
the previous year.
(2) Consolidated Financial Position
Total Assets Net Assets Equity Ratio Net Assets per Share
Millions Millions % Yen
of yen of yen
9 months ended 344,189 121,583 34.9 1,892.83
December 31,2007
9 months ended 318,836 117,638 36.5 1,831.78
December 31,2006
Year ended 336,659 127,020 37.3 1,979.21
March 31,2007
(3) Consolidated Cash Flows
Cash flows Cash flows Cash flows from Cash and
from operating from investing from financing cash
activities activities activities equivalents
Millions Millions Millions Millions
of yen of yen of yen of yen
9 months ended 1,183 (19,544) 7,194 34,941
December 31,2007
9 months ended 8,324 (730) (17,931) 39,757
December 31,2006
Year ended 14,488 (2,924) (15,654) 46,109
March 31,2007
2. Projected Consolidated Financial Results for the Year ending March 31, 2008
(From April 1, 2007 to March 31, 2008)
The figures of the projected consolidated financial results for the year ending
March 31, 2008 (From April 1, 2007 to March 31, 2008), announced on November
19, 2007, have not been changed.
3. Others
(1) Change in significant subsidiaries during the nine-month period ended
December 31, 2007(Resulting in a change in scope of consolidation): Yes
Addition: 1 (Saitama Daiichi Pharmaceutical Co., Ltd.) Removal: 0
(2) Adoption of simplified accounting treatments: None
(3) Difference in the method of accounting treatment from the most recent
fiscal year: None
(Note) More information can be found in (Qualitative information, financial
statements and others) 5. Others.
*Disclaimer regarding projection information including appropriate use of
forecasted financial results, and other special notes
The projection figures shown above are based on information that was available
at the time of preparation and may contain certain uncertainties. Actual
performance and other factors may differ from these projections due to changes
in circumstances and other developments. More information concerning these
forecasts can be found in (Qualitative information, financial statements and
others) 4. Qualitative information on the projected consolidated financial
results.
(Qualitative information, financial statements and others)
1. Qualitative information on the consolidated results of operation
The situation of Japanese economy for this nine-month period generally
remained in the trend of gradual expansion due to the steady capital
investments, while we were afraid of a negative impact from the continuous high
oil prices and the underperforming economy in the United States.
On the other hand, as we are in a drastic changing period of the medical
business field, we have made effort to develop progressive medical equipments
by a unique point of view and reinforce injection drug, oral drug, artificial
organs and regenerative medical business to establish a worldwide brand to be a
real global enterprise.
As a result, net sales for the nine months ended December 31, 2007 was
129,982 million yen, decreased 10.8% from the same period of the previous
fiscal year because of our discontinuation of the Store business, which had the
sales of 30,973 million yen in the same period of the previous fiscal year. The
sales of Medical Equipment business was 83,281 million increased 15.9% from the
same period of the previous fiscal year, the sales of Pharmaceutical business
was 37,491 million yen increased 17.2% from the same period of the previous
fiscal year, the sales of Glass and Materials business was 8,491 million yen
decreased 16.6% from the same period of the previous fiscal year.
Operating income increased 10.1% from the same period of the previous fiscal
year to 11,021 million yen and recurring income increased 7.7% from the same
period of the previous fiscal year to 9,840 million yen. However, net quarter
income decreased 38.2% from the same period of the previous fiscal year to
5,270 million yen due to the decrease of extraordinary profit.
2. Qualitative information on the consolidated financial position
Total assets increased 25,353 million yen to 344,189 million yen from the end
of previous fiscal year. Current assets increased 6,778 million yen to 151,061
million yen and fixed assets increased 18,574 million yen to 193,128 million
yen, from the end of previous fiscal year. Current assets increased mainly due
to the increase in the trade notes and accounts receivable, and inventories.
Fixed assets increased mainly due to the increase in buildings and structures,
machinery and vehicles in tangible fixed assets.
Total liabilities increased 21,407 million yen to 22,265 million yen. Current
liabilities increased 8,318 million yen to 113,715 million yen and fixed
liabilities increased 13,089 million yen to 108,890 million yen, from the end
of previous fiscal year. Current liabilities increased mainly due to increase
in current portion of bonds and notes payable for plant and equipment, and
fixed liabilities increased mainly due to increase of long-term borrowings.
Net assets increased 3,945 million yen to 121,583 million yen from the end of
previous fiscal year. Earned surplus in the net assets increased 1,605 million
yen to 40,293 million yen.
3. Qualitative information on the state of the consolidated cash flow
Cash and cash equivalents at the end of the period ended in December 31, 2007
amounted to 34,941 million yen. The state of each cash flow in the period was
as follows.
(Cash flow in operating activities)
Cash flow provided by operating activities was 1,183 million yen. Major items
of cash inflow were mainly net income before adjustment of taxes of 9,253
million yen, and depreciation and amortization of 10,886 million yen. Major
items of cash outflow were increase of trade note and account receivables of
6,097 million yen, payment for corporate income taxes of 10,029 million yen.
(Cash flow in investing activities)
Cash flow used in investing activities was 19,544 million yen. The main payment
was for acquisition of fixed assets of 14,863 million yen.
(Cash flow in financing activities)
Cash flow provided by financing activities was 7,194 million yen. The details
of proceeds were mainly the proceeds from long-term borrowings of 29,037
million yen and the details of payment were mainly repayment of the long-term
borrowings of 20,256 million yen and the payments for dividends of 4,100
million yen.
4. Qualitative information on the projected consolidated financial results
The business environment is anticipated to remain severe due to worry about
the risks concerning the falling situation in the stock exchange market and
exchange rate fluctuation. We, however, continuously endeavor to develop new
products, as well as to reinforce the production capacity and selling
capability in order to enhance our revenues.
Thus, the figures of the projected consolidated financial results for the year
ending March 31, 2008 (From April 1, 2007 to March 31, 2008) announced on
November 19, 2007, have not been changed.
5. Others
(1) Change in significant subsidiaries during the nine-month period ended
December 31, 2007
(Resulting in a change in scope of consolidation): Yes
Addition: 1 (Saitama Daiichi Pharmaceutical Co., Ltd.)
Saitama Daiichi Pharmaceutical Co., Ltd. was included in the scope of
consolidation because of acquisition of the shares.
(2) Adoption of simplified accounting treatments: None
(3) Difference in the method of accounting treatment from the most recent
fiscal year: None
This information is provided by RNS
The company news service from the London Stock Exchange
END
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