1st Quarter Results
August 10 2004 - 3:38AM
UK Regulatory
RNS Number:7998B
Nipro Corporation
10 August 2004
Summary Report of Consolidated Financial Results August 10, 2004
For the Three Months Period ended June 30, 2004
(Fiscal Year ending March 31,2005)
Company name: NIPRO CORPORATION Code No.:8086 TSE/OSE-1st Section
(URL: http://www.nipro.co.jp/)
Representative: Minoru Sano, President and Representative Director
Contact: Akihiko Yamabe, Director, General Manager of Accounting
& Corporate Planning DivisionTEL(06)6372-2331
1. Matters related to the preparation of quarterly financial summary
(1)Adoption of simplified accounting treatments: N/A
(2)Difference in the method of accounting recognition from the most
recent fiscal year: N/A
(3)Changes in the scope of consolidation and application of the equity
method:Adoption (Content: Consolidation (New) 1)
2.Business results and financial position for the three months ended June
30, 2004 of the Fiscal Year ending March 31,2005.
(From April 1, 2004 to June 30, 2004)
(1)Results of Operations (Note: Amounts are rounded off per one million yen)
Net Sales Operating Recurring Net (Quarter)
Income Income Income
Millions Millions Millions Millions
of yen % of yen % of yen % of yen %
Three months 47,271 2.3 3,397 (9.0) 3,164 (2.5) 1,734 16.4
ended June
30,2004
Three months 46,191 - 3,731 - 3,243 - 1,490 -
ended June
30,2003
Fiscal Year 188,700 12,557 9,539 4,216
ended March
31,2004
Basic Earnings Diluted Earnings
per Share per Share
Yen Yen
Three months ended 27.26 -
June 30, 2004
Three months ended 23.41 -
June 30, 2003
Fiscal Year ended 64.90 -
March 31, 2004
(Note) Percentage for net sales, operating income, etc. represents the ratio of
change over from same period of the previous fiscal year.
(Supplementary information on the consolidated results of operations)
The Japanese economy for this three months period generated the improved mood
of recovery, led by exports and capital investments, followed by the new
personal consumptions.
Under such conditions, Nipro has focused on sales activities to improve
business performance.
As a result, net sales for the three months ended June 30, 2004 increased by
2.3% from same period of the previous fiscal year to 47,271 million yen,
primarily due to increase in sales of pre-filled syringes at the Pharmaceutical
division.
On the other hand, operating income decreased by 9.0% from same period of the
previous fiscal year to 3,397 million yen, due to the rise in the ratio of cost
of sales to net sales by intensification of price competition and the increase
in selling, general, administrative expenses and recurring income decreased by
2.5% from same period of the previous fiscal year to 3,164 million yen.
Net (Quarter) income increased by 16.4% from same period of the previous fiscal
year to 1,734 million yen, mainly due to decrease in extraordinary losses.
(2)Financial Position
Total Assets Shareholders' Ratio of Shareholder'
Equity Shareholders' Equity per
Equity to Share
Total Assets
Millions Millions % yen
of yen of yen
Three months 276,461 91,692 33.2 1,441.53
ended June
30,2004
Three months 253,469 84,896 33.5 1,334.03
ended June
30,2003
Fiscal Year 279,701 94,711 33.9 1,487.50
ended March
31,2004
Cash Flows
Cash flows Cash flows Cash flows Cash and cash
from from from equivalents
operating investing financing
activities activities activities
Millions Millions Millions Millions
of yen of yen of yen of yen
Three months 488 (2,132) 1,873 42,441
ended June
30,2004
Three months 2,506 (3,120) 564 29,467
ended June
30,2003
Fiscal Year 15,432 (12,786) 10,400 42,228
ended March
31,2004
(Supplementary information on the changes in the financial position)
(1)Changes in the financial position
Total assets decreased by 3,239 million yen from the end of the fiscal year
ended March 31, 2004 to 276,461 million yen, mainly due to the decrease in
investment securities as a result of fall in market prices of possessed stocks.
Liabilities decreased by 189 million yen from the end of the fiscal year ended
March 31, 2004 to 183,106 million yen. Shareholders' equity decreased by 3,019
million yen from the end of the fiscal year ended March 31, 2004 to 91,692
million yen,primarily due to the decrease in net unrealized gains (losses) on
securities.
(2)Cash flows
Net cash provided by operating activities was 488 million yen, primarily
reflecting the income before income taxes and depreciation and amortization.Net
cash used in investing activities was 2,132 million yen, mainly due to payments
for acquisition of fixed assets.Net cash provided by financing activities was
1,873 million yen. This reflected mainly proceeds from long-term borrowings.
(Reference)
Consolidated Business Forecast for the Fiscal Year ending March 31, 2005
(From April 1, 2004 to March 31, 2005)
Sales Recurring Net Income
Income
Millions Millions Millions
of yen of yen of yen
Interim period 98,500 4,850 2,550
ending September
30, 2004
Fiscal Year 200,000 10,400 5,300
ending March
31, 2005
(Reference) Projected Earnings per Share for the Fiscal Year ending
March 31, 2005: 81.95 yen
(Supplementary information on the business forecasts)
The Japanese economy is anticipated to remain in the uncertainly, due to the
concern in appreciation of yen and rise of interest rate arising from the
expectation of economic recovery. Under such circumstances, we will strive to
improve the business performance by focusing on development of new products
continually and increasing and strength of productive capacity of each division.
There is no amendment to the forecast announced on May 20, 2004.
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
END
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