RNS Number:6154O
Nipro Corporation
13 August 2003

                                                                 August 11, 2003

Summary Report of Consolidated Financial Results
For the First Quarter of the Fiscal Year ending March 31, 2004

Company name: NIPRO CORPORATION
(URL: http://www.nipro.co.jp/)

Stock listings:  Tokyo Stock Exchange - First Section
Code No:  8086
Representative:  Minoru Sano, President and Representative Director
Contact:  Akihiko Yamabe, Director, General Manager of Accounting Division
          / Phone: +81 (0)6 6372 2331

1. Matters related to the preparation of quarterly financial summary
(1) Difference in the method of accounting recognition from the most recent
    fiscal year: N/A
(2) Changes of reporting entities: N/A

2. Business results and financial position for the First Quarter of the Fiscal
   Year ending March 31, 2004 (From April 1, 2003 to June 30, 2003)

(1) Results of Operations             (Millions of yen, @unless otherwise stated)
                  Net Sales       Operating      Recurring      Net (Quarter)
                                  Income         Income         Income
                              %              %              %                %
1st Quarter ended   46,191    -     3,731    -     3,243    -      1,490     -
June 30, 2003
1st Quarter ended        -    -         -    -         -    -          -     -
June 30, 2002
Previous fiscal    180,369         14,899         11,397           5,077
year

                      Basic Earnings per      Diluted Earnings per
                      Share                   Share
1st Quarter ended     23.41 yen                     -
June 30, 2003
1st Quarter ended         -                         -
June 30, 2002
Previous fiscal       84.25 yen               78.48 yen
year
(Note) Figures on the previous first quarter and year-on-year rates are not
given, as the preparation of the consolidated quarterly financial statements was
initiated this year.

(Supplementary information on the consolidated results of operations)

Looking back at the Japanese economy for the first quarter of the fiscal year
ending March 2004, while there were some signs of recovery in certain economic
aspects, individual consumption and exports remained sluggish.

Under such conditions, Nipro has focused on Research and Development and made
efforts to develop sales activities.

As a result, net sales for the first quarter was 46,191 million yen, operating
income was 3,731 million yen, recurring income was 3,243 million yen and net 
income was 1,490 million yen.

(2) Financial Position                (Millions of yen, unless otherwise stated)
                      Total     Shareholders'   Shareholders     Shareholder's 
                      Assets    Equity          Equity Ratio      Equity per
                                                                  Share
1st Quarter ended     253,469      84,896           33.5%         1,334.03 yen
June 30, 2003
1st Quarter ended          -           -              -                -
June 30, 2002
Previous fiscal       252,847      83,532           33.0%         1,310.72 yen
year
(Note) Figures on the previous first quarter are not given, as the preparation
of the consolidated quarterly financial statements was initiated this year.

Cash Flows                                                     (Millions of yen)
                      Cash flows     Cash flows     Cash flows    Cash and
                      from           from           from          cash
                      operating      investing      financing     equivalents
                      activities     activities     activities
1st Quarter ended      2,506           (3,120)           564         29,467
June 30, 2003
1st Quarter ended         -                -              -              -
June 30, 2002
Previous fiscal        5,453          (30,107)        11,469         29,393
year
(Note) Figures on the previous first quarter are not given, as the preparation
of the consolidated quarterly financial statements was initiated this year.

(Supplementary information on the changes in the financial position)

(1) Changes in the financial position

Total assets increased by 621 million yen from the end of the previous fiscal 
year to 253,469 million yen, mainly due to the increase in investment 
securities.
Liabilities decreased by 760 million yen from the end of the previous fiscal 
year to 166,786 million yen, primarily due to the decrease in current portion of
bonds.
Shareholders' equity increased by 1,363 million yen from the end of the previous
fiscal year to 84,896 million yen.  Shareholders' equity ratio was 33.5%, 
compared with 33.0% at the end of the previous fiscal year.

(2) Cash flows

Net cash provided by operating activities was 2,506 million yen, primarily 
reflecting the income before income taxes.  Net cash used in investing
activities was 3,120 million yen, mainly due to purchases of property, plant and
equipment.  Net cash provided by financing activities was 564 million yen.  This
was mainly a result of reimbursement of cash deposited for redemption of
convertible bonds.

As a result, cash and cash equivalents increased by 74 million yen from the end 
of the previous fiscal year to 29,467 million yen.

3. Consolidated Business Forecasts for the Fiscal Year ending March 31, 2004 
   (From April 1, 2003 to March 31, 2004)
                                      (Millions of yen, unless otherwise stated)
                       Sales        Recurring      Net Income  Net Income per
                                    Income                     Share
Half-year ending         96,000        6,900        3,650      57.35 yen
September 30, 2003
Year ending March 31,   197,000       14,000        7,500      116.10 yen
2004

(Supplementary information on the business forecasts)

Due to the uncertainty about the conditions of Japanese economy such as 
employment and individual income, the harsh business environment is anticipated 
to continue.  Under such circumstances, Nipro will strive to improve the result 
of operations by active Research and Development and aggressive sales 
activities.

There is no amendment to the forecast announced on May 22, 2003.

The above forecasts are based on the information available to the management as 
of the date of this report.  The actual results may be different from these 
forecasts due to various factors occurring hereafter.


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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