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:
Code number:
Representative:
Contact:

NIPRO CORPORATION
TSE/OSE - 1st section
8086
URL: http://www.nipro.co.jp/
Minoru Sano, President and Representative Director
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(Quarter)
Net Sales
Operating Income
Recurring Income
Income9 months ended December 31,2007
9 months ended December 31,2006
Year ended March 31,2007

Millions of yen %Millions of yen %129,982 (10.8)
145,796 (6.6)
184,362-

11,021
10,012
13,053

Earnings
per Share
9 months ended December 31,2007
9 months ended December 31,2006
Year ended March 31,2007

10.1
(5.3)
-

Millions of yen %

9,840
7.7
9,139 (16.6)
11,355-

Millions of yen %

5,270
8,530
8,555

(38.2)
85.0-

Diluted Earnings
per Share

Yen

Yen

83.04
134.31134.71-

Note: The % displays show increase/decrease ratio against the same period of the previous year.

(2) Consolidated Financial Position
Total Assets
9 months ended December 31,2007
9 months ended December 31,2006
Year ended March 31,2007

Net Assets

Millions of yen

Millions of yen

344,189
318,836
336,659

121,583
117,638
127,020

Cash flows fromoperating activities

Cash flows frominvesting activities

Equity Ratio

Net Assets per Share

%

34.9
36.5
37.3

Yen

1,892.83
1,831.78
1,979.21(3) Consolidated Cash Flows

Millions of yen
9 months ended December 31,2007
9 months ended December 31,2006
Year ended March 31,2007

1,183
8,324
14,488Millions of yen(19,544)(730)(2,924)

Cash flows fromfinancing activities
Millions of yen

7,194(17,931)(15,654)

Cash and cash
equivalents
Millions of yen

34,94139,757
46,109

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.

-1-

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 page 4. [Qualitative information, financial statements and others] 5.
Others.

*Disclaimer regarding projection information including appropriate use of forecasted financial results, and otherspecial notes
The projection figures shown above are based on information that was available at the time of preparation andmay 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 befound on page 4 in the attachments.

-2-

[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 gradualexpansion 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 todevelop progressive medical equipments by a unique point of view and reinforce injection drug, oral drug, artificialorgans 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 theprevious fiscal year.
Operating income increased 10.1% from the same period of the previous fiscal year to 11,021 million yen andrecurring 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 tothe 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 tradenotes and accounts receivable, and inventories. Fixed assets increased mainly due to the increase in buildings andstructures, 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 forcorporate 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 theproceeds 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.

-3-

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 todevelop 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 achange 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

- 4 -

6. Summary of Quarter Consolidated Financial Statements(1) Summary of Quarter Consolidated Balance Sheets for the Nine Months Period ended December 31, 2007 (Yearending March 31, 2008)(Note: Amounts are truncated to one million yen)

As of

As of

December 31, 2006 December 31, 2007

Account

AmountRatio

AmountRatio

Change in amount

As ofMarch 31, 2007

AmountChangeRatio

AmountRatio(ASSETS)%
45.3%
151,061

43.9

%
6,778

4.7

%
147,233

Current Assets

144,282

Cash on hand and in banks

45,02136,754(8,266)47,934

Trade notes and accounts

51,90058,787

6,887

50,972Inventories

39,66046,232

6,571

40,213

Deferred tax assets

3,472

2,976

(496)

3,033

Other current assets

4,757

6,797

2,040

5,581

Allowance for doubtful

(529)

(487)

42

(501)

43.7

receivableaccounts

Fixed Assets

174,55354.7

193,128

56.1

18,574

10.6

189,426

56.3

Tangible fixed assets

100,899

31.6

118,405

34.4

17,50517.3

104,88131.2

Buildings and structures

36,68545,643

8,958

38,113

Machinery and vehicles

30,52137,8907,369

31,105Land

17,997

19,394

1,397

18,032

Construction in progress

11,15910,502(656)

12,856

Others

4,536

4,973

436

4,773

Intangible fixed assets

1,832

0.6

3,009

0.9

1,177

64.2

1,902

Goodwill

245

1,275

1,029

240

Others

1,586

1,734

147

1,661

71,820Investment securities

65,80866,927

1,118

77,304

345

234

(110)

303

395

85

(310)

61

Lease deposits

4,856

4,545

(310)

4,791

Other assets

3,455

2,971

(483)

3,198

(3,040)(3,052)(12)(3,017)Long-term loans

22.5

71,712

20.8

(107)

(0.2)

82,642

Investments and other assets

0.6

24.5

receivable
Deferred tax assets

Allowanceaccounts

Total Assetsfordoubtful

318,836100.0

344,189

- 5 -

100.0

25,353

8.0

336,659

100.0

(Note: Amounts are truncated to one million yen)

As of

As of
Account

December 31, 2006 December 31, 2007
Amount(LIABILITIES)Current liabilities
Trade notes andaccounts payable
Short-term borrowings
Current portion of bonds
Other payables
Accrued income taxes
Allowance for bonuses
payableAllowance for bonuses
payable for directors
and corporate auditors
Allowance for loss on
clearance of businessNotes payable for plantand equipment
OthersFixed liabilities
Bonds
Convertible bond type bonds
stock acquisition rights

Long-term borrowings
Deferred tax liabilities
Accrued pension andseverance costAccrued severance indemnityfor directors and corporate auditors
Other fixed liabilities
Total liabilities

Ratio

105,396
28,350%33.1

Amount113,71530,757

Ratio

%
33.1

Change in amount

As ofMarch 31, 2007

ChangeRatio

Amount

8,318
2,407

%
7.9

AmountRatio

104,104
26,54753,370
60
3,874
7,362
2,433

47,864
10,160
5,020
2,469
1,303

(5,505)
10,1001,146(4,892)(1,129)50,209
60
6,123
8,404
1,461

-

3

3

230

1,954

1,954

-

1,954

3,448

8,971

5,523

3,655

4,543
95,801
31,48014,0005,208
108,890
21,32014,000665
13,089(10,160)-

5,457
105,534
31,45014,000

30.0

31.6

13.7

33,24012,991
2,761

56,526
12,8382,344

23,286(152)(416)

38,765
17,417
2,564

-

510

510

-

1,328

1,351

22

1,336

%
30.9

31.4

201,197

63.1

222,605

64.7

21,407

10.6

209,63962.3

96,606
28,66329,97338,687(717)
19,704

30.3
9.0
9.4
12.1
(0.2)
6.2

98,141
28,66329,97540,293(790)
21,987

28.5
8.3
8.7
11.7
(0.2)
6.4

1,535
2
1,605
(72)
2,283

1.6
0.0
4.2
10.1
11.6

97,044
28,66329,97339,148(741)
28,606

28.8
8.5
8.9
11.6
(0.2)
8.5

22,864

7.2

23,401

6.8

536

2.3

29,8838.9(3,160)(1.0)(1,413)

(0.4)

1,746

(55.3)(1,276)

(0.4)

1,327

0.4

1,454

0.4

126

9.5

1,369

0.4

Total Net Assets

117,63836.9

121,583

35.3

3,945

3.4

127,020

37.7

Total Liabilities and Net Assets

318,836100.0

344,189

100.0

25,353

8.0

336,659

100.0(Net Assets)
Shareholders’ Equity
CapitalCapital surplus
Earned surplus
Treasury stock
Valuation and translationdifferences
Valuation differences ofother securities
Foreign currencytranslation adjustments
Minority interests- 6 -(2) Summary of Quarter Consolidated Statements of Income for the Nine Months Period ended December 31, 2007 (Yearending March 31, 2008)(Note: Amounts are truncated to one million yen)Account

Previous Period(From April 1, 2006
To December 31, 2006)

Current Period(From April 1, 2007
To December 31, 2007)

Change in amountAmountRatio

AmountRatio

AmountNet sales
Cost of goods sold145,796
105,334

%
100.0
72.2

129,982
92,813

%
100.0
71.4

(15,813)(12,520)Gross profit
Selling, general andadministrative expenses
Operating income
Non-operating income
Interest income
Dividend income
Exchange gain
OthersNon-operating expenses
Interest expenses
Depreciation
Exchange loss
Equity in loss of affiliate
Others40,46130,44927.8
20.9

37,16826,14728.6
20.1

10,012
1,526
203
558
395
369
2,399
1,200
281
534
383

6.9
1.0

11,021
1,338
319
613
404
2,519
1,395
318
193
471
141

8.5
1.0

9,139
13,425
22
666

6.3
9.2

9,840
316
58
4

7.6
0.2

Recurring income
Extraordinary gains
Gain on sale of fixed assets
Governmental subsidies
received
Gain on sale ofinvestment securities
Life insurance income
OthersExtraordinary losses
Loss on sale anddisposal of fixed assets
Impairment loss on fixed assets
Allowance for loss on
clearance of business
Loss on investment securities
Loss on disposal of inventories
Abnormal manufacturing cost
Advanced depreciation
on fixed assets
Allowance for doubtful debts
Allowance for accrued severance indemnityfor directors and corporate auditors in prior years
OthersNet(Quarter) income before
adjustment of taxes
Corporate, inhabitants andenterprise taxes
Adjustment for deferred taxes
Minority shareholders’ sharein net income of consolidated
subsidiaries
Net(Quarter) income

1.6

1.9

ChangeRatio

Previous Period(From April 1, 2006
To March 31, 2007)

AmountRatio%(10.8)(11.9)

184,362
132,142

%
100.0
71.7

(3,293)(4,302)(8.1)(14.1)

52,22039,167

28.3
21.2

1,009
(188)
116
54
(395)
35
(120)
194
37
193
(62)
(241)

10.1
(12.4)

13,053
1,657
308
560
313
475
3,355
1,645
381
791
537

7.1
0.9

700
(13,108)
35
(661)

7.7

11,355
13,660
30
661

6.2
7.4

5.0

12,706-(12,706)

12,706

30
7,353
271

191
62
903
171

191
32
(6,450)
(100)

261
8,240
516

5.1

0.7

1,286
1,954

-

(1,286)(1,954)

1,286
1,954

268
112
177
654

48
96
3

(268)
(64)
(81)
(650)

268
253
246
650

2,307
-

12
471

(2,295)
471

2,361
-

318
15,212

10.4

99
9,253

7.1

(218)
5,958

9,305

6.3

3,889

3.0

(2,625)
1

(1.8)
0.0

9
83

8,530

5.9

5,270

- 7 -

1.8

4.5

703
16,7759.1(5,416)

10,059

5.5

0.0
0.0

2,635
82

(1,873)
33

(1.0)
0.0

4.1

(3,259)

8,555

4.6

(39.2)(38.2)

(3) Consolidated Statement of Shareholders’ Equity
Previous period (From April 1, 2006 to December 31, 2006)(Note: Amounts are truncated to one million yen)
Shareholders’ equity
CapitalCapitalEarnedTreasury

surplussurplusstock

29,972

34,545

(648)

Total
shareholders'equityBalance at March 31, 2006

28,66392,532

Increase (decrease) during the period

Dividend of surplus
Bonusestodirectors

and(4,096)(91)(4,096)
(91)

8,530

8,530
(76)
9

corporate auditors
Net(Quarter) income(76)
8

Acquisition of treasury stock

1

Disposal of treasury stock
Decrease in earned surplus due to(201)

addition of consolidated subsidiaries(201)

Increase (decrease) of the items other than-shareholders’ equity during the period

28,663

Net increase (decrease) during the period

Balance at December 31, 2006

1
29,973

4,141
38,687(68)(717)(4,074)96,606

Minority

Total net

interests

assets

1,612

114,003

Valuation and translation differences

Balance at March 31, 2006

Valuation

Foreign

Total

differences ofcurrency

valuation andothertranslationtranslation

securities

adjustments

differences

25,563(5,705)19,858

Increase (decrease) during the period

Dividend of surplus-(4,096)-(91)

Net(Quarter) income

-

8,530

Acquisition of treasury stock

-

(76)

Disposal of treasury stock

-

9

-

(201)

Bonusestodirectors

andcorporate auditors

Decrease in earned surplus due toaddition of consolidated subsidiaries
Increase (decrease) of the items other than

(2,699)

2,544

(154)

(284)

(439)

Net increase (decrease) during the period(2,699)

2,544

(154)

(284)

3,635

Balance at December 31, 2006

22,864(3,160)19,704

1,327

117,638

shareholders’ equity during the period- 8 -Current period (From April 1, 2007 to December 31, 2007)(Note: Amounts are truncated to one million yen)
Shareholders’ equity
CapitalBalance at March 31, 2007

28,663

CapitalEarnedTreasury

surplussurplusstock

29,97339,148

(741)

Total
shareholders'equity97,044

Increase (decrease) during the period

Dividend of surplus(4,126)(4,126)

Net(Quarter) income

5,270

5,270

Acquisition of treasury stock
Disposal of treasury stock

2

(56)

(56)

7

9

Increase (decrease) of the items other than-shareholders’ equity during the period

-

2

1,144

(48)

1,097

28,66329,97540,293(790)

98,141

Minority

Total net

interests

assets1,369

127,020

Net increase (decrease) during the period

Balance at December 31, 2007

Valuation and translation differences

Balance at March 31, 2007

Valuation

Foreign

Total

differences ofcurrency

valuation andothertranslationtranslation

securities

adjustments

differences

29,883(1,276)28,606

Increase (decrease) during the period

Dividend of surplus-(4,126)

Net(Quarter) income

-

5,270

Acquisition of treasury stock

-

(56)

Disposal of treasury stock-

9

Increase (decrease) of the items other than

(6,482)(136)(6,619)84(6,534)

Net increase (decrease) during the period(6,482)(136)(6,619)84(5,436)

Balance at December 31, 2007

23,401(1,413)

21,987

1,454

121,583

shareholders’ equity during the period- 9 -Previous period (From April 1, 2006 to March 31, 2007)(Note: Amounts are truncated to one million yen)
Shareholders’ equity
CapitalBalance at March 31, 2006

28,663

CapitalEarnedTreasury

surplussurplusstock

29,972

34,545

(648)

Total
shareholders'equity92,532

Increase (decrease) during the period

Dividend of surplus
Bonuses to directors andcorporate auditors
Net income(4,096)(91)(4,096)
(91)

8,555

8,555
(101)
10

Acquisition of treasury stock
Disposal of treasury stock
Increase in earned surplus due todivestiture of consolidated subsidiaries
Decrease in earned surplus due toaddition of consolidated subsidiaries
Increase (decrease) of the items other than shareholders’ equity during the period
Net increase (decrease) during the period

Balance at March 31, 2007

(101)
9

1
436

436

(201)

(201)
-

28,663

1
29,973

4,602
39,148

(92)
(741)

4,512
97,044

Valuation and translation differences

Balance at March 31, 2006

Valuation

Foreign

Total

differences ofcurrency

valuation andothertranslationtranslation

securities

adjustments

differences

25,563(5,705)19,858

Minority

Total net

interests

assets

1,612

114,003

Increase (decrease) during the period

Dividend of surplus-

Bonuses to directors andcorporate auditors
Net income-(4,096)
(91)

-

8,555
(101)
10

-

436

-

(201)

Acquisition of treasury stock
Disposal of treasury stock
Increase in earned surplus due todivestiture of consolidated subsidiaries
Decrease in earned surplus due toaddition of consolidated subsidiaries
Increase (decrease) of the items other than shareholders’ equity during the period
Net increase (decrease) during the period

Balance at March 31, 2007

4,319

4,428

8,748

(243)

8,505

4,319
29,883

4,428(1,276)

8,748
28,606

(243)
1,369

13,017127,020- 10 -

(4) Summary of Quarter Consolidated Statements of Cash Flow
(Note: Amounts are truncated to one million yen)Previous Period
Current Period(From April 1, 2006
(From April 1, 2007
To December 31, 2006) To December 31, 2007)
Division

AmountCash flows from operating activities
Net income before adjustment for taxes
Depreciation and amortization
Impairment loss on fixed assets
Amortization of goodwill
Equity in loss of affiliate
Allowance for doubtful debts
Allowance for loss on clearance of business
Increase (decrease) in allowance for
doubtful accounts
Interest and dividend income
Interest expenses
Exchange loss (gain)
Gain on sales of shares of subsidiary company
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Decrease (increase) in other assets
Increase (decrease) in other liabilities
Bonuses to directors and corporate auditors
Other non-operating income/expenses andextraordinary gains/losses
SubtotalInterest and dividends received
Interest paid
Other revenues
Other expenditures
Income taxes paid
Cash flows from operating activities
Cash flows from investing activities
Deposits in time deposits
Proceeds from matured time deposits
Payments for purchases of securities
Proceeds from sales of securities
Payments for acquisition of shares with change
In scope of consolidated subsidiary
Proceeds from sales of shares with change inscope of consolidated subsidiary
Payments for acquisition of fixed assets
Proceeds from sales of fixed assets
Increase(decrease) in short-term lending
Collections of loans receivable
Expenditures for other investments
Revenues from other investments
Cash flows from investing activities
Cash flows from investing activities
Net increase (decrease) in short-term borrowings
Net increase (decrease) in commercial paper
Proceeds from long-term borrowings
Repayment of long-term borrowings
Payments for redemption of bonds
Proceeds from issuance of shares
Proceeds from disposal of treasury stock
Payments for acquisitions of treasury stock
Repayments of finance lease obligations
Payments for dividends
Other payments
Cash flows from financing activities
Effect of exchange rate changes on cash and cash
equivalents
Increase (decrease) in cash and cash equivalents
Balance of cash and cash equivalents at the
beginning of the period
Increase in cash and cash equivalents due toinclusion of new subsidiary in consolidation
Balance of cash and cash equivalents at the end of the period- 11 -

AmountPrevious Period(From April 1, 2006
To March 31, 2007)
Amount15,212
9,041
1,286
115
534
2,307
1,954
35

9,253
10,886181471
19

16,775
12,469
1,286
129
791
2,361
1,954
(92)

(762)
1,200
(34)
(12,706)(4,574)(3,186)
601
(700)
1,739
(96)
773

(933)
1,395
(59)
(6,097)(4,995)1,804
364(1,091)
(77)

(868)
1,645
(68)
(12,706)(2,186)(3,061)(1,982)
(565)
2,678
(96)
882

12,740843(1,266)
1,472(212)(5,253)

11,120916(1,320)731(234)(10,029)

19,347830(1,697)1,590(262)(5,320)

8,324

1,183

14,488(4,263)
2,677(2,244)24(517)(1,445)1,446(1,014)(3,125)(5,792)
7,665(2,244)24(1,220)19,372-

19,372(14,944)
20
(833)
48
(112)
40
(730)

(14,863)
155
(784)
59
(1)
29
(19,544)(19,911)273(1,078)59(112)
40(2,924)

5,749(9,000)
9,984(10,299)(10,030)
9
(76)
(205)
(4,062)(0)(17,931)102

2,624
29,037(20,256)
(30)
3
9
(56)
(23)
(4,100)
(14)
7,194
(2)

121
(9,000)20,853(13,181)(10,060)
10
(101)
(205)
(4,090)(0)(15,654)208(10,234)
49,914(11,168)
46,109(3,881)
49,91477-

77

39,75734,941

46,109(5) Segment information[Segment information by business category]Previous period (From April 1, 2006 to December 31, 2006)
MedicalPharmaEquipment ceutical
Net sales(1)Sales to third parties(2)Inter-segment sales
and transfers(Note: Amounts are truncated to one million yen)

Glass &
Materials

Store

Other

Total

Eliminations
Consolidated/Corporate

71,82731,995

10,18630,973813

145,796-

145,796

3

-

2,538

-

204

2,746

(2,746)-

Total

71,831

31,995

12,72430,973

1,018

148,542(2,746)

145,796

Operating expenses

61,30529,574

11,32630,702865

133,774

2,009

135,784

Operating income(loss)

10,525

2,421

1,398

270

152

14,767(4,755)

10,012Current period (From April 1, 2007 to December 31, 2007)(Note: Amounts are truncated to one million yen)

MedicalEquipment

Pharmaceutical

Glass &
Materials

Other

Total

83,28137,491

8,491

718

129,982-

129,982

-

-

2,393

51

2,444

(2,444)-

Total

83,28137,491

10,884769

132,426(2,444)

129,982

Operating expenses

70,882

34,6109,509

768

115,771

3,189

118,960

Operating income(loss)

12,398

2,880

1,374

1

16,655(5,633)

11,021

Net sales(1)Sales to third parties(2)Inter-segment sales
and transfers

Previous period (From April 1, 2006 to March 31, 2007)

Eliminations/Corporate

Consolidated(Note: Amounts are truncated to one million yen)

MedicalPharmaEquipment ceutical

Glass &
Materials

Store

Other

Total

97,30042,152

12,91830,973

1,017

184,362-

184,362

3

-

3,445

-

220

3,668

(3,668)-

Total

97,30342,152

16,36430,973

1,238

188,031(3,668)184,362

Operating expenses

82,97038,854

14,49830,702

1,087

168,113

3,195

171,309

Operating income(loss)

14,333

3,298

1,865

270

150

19,918(6,864)

13,053

Net sales(1)Sales to third parties(2)Inter-segment sales
and transfers- 12 -

Eliminations
Consolidated/Corporate

(Notes) 1. Classification of business categories and main products in each business category
Business categories are classified based on the proximity in terms of purposes and manners of usage ofthe products in the market.
Main products belonging to each business categories are as follows:Business
category
MedicalEquipment
Pharmaceutical

Glass &
Materials
Store
Other

Main products and commodities
Dialyzers, blood tubing sets, injection needles, syringes, and infusion sets, etc
Half-type and full-type kits, double-bag kits, pre-filled syringes, dialysate solution, andcirculatory drugs, etc.
Glass for pharmaceutical containers, glass for thermos bottles, glass for lighting
purposes, stoppers for plastic containers and rubber stoppers, etc.
Fresh meat and fish, vegetables, fruits, processed food, daily foods, frozen foods,
general groceries and medicine, etc.
Machinery for manufacture of medical equipment and real estate rental income, etc.

2. Operating expenses of “Eliminations/Corporate” for the consolidated accounting periods of the ninemonths ended December 31, 2006, the nine months ended December 31, 2007, and the year ended March
31, 2007 included unallocated corporate costs of 4,755 million yen, 5,633 million yen, and 6,864 million yen
respectively.
The unallocated corporate costs consisted primarily of the parent company’s research and development
costs and headquarters administration costs.

- 13 -

[Segment information by geographical area]
Previous period (From April 1, 2006 to December 31, 2006)
Japan

Net sales(1)Sales to third parties(2)Inter-segment sales
and transfers

America

Europe(Note: Amounts are truncated to one million yen)
Asia

Total

Eliminations
Consolidated/Corporate

125,604

12,375

5,139

2,676

145,796-

145,796

18,017

519

3

9,022

27,563(27,563)-

143,621

12,894

5,143

11,699173,359(27,563)

145,796

Operating expenses

128,571

13,482

4,915

11,199158,168(22,384)

135,784

Operating income(loss)

15,050

(587)

227

500

15,191(5,179)10,012

Total

Current period (From April 1, 2007 to December 31, 2007)
Japan

Net sales(1)Sales to third parties(2)Inter-segment sales
and transfers

America(Note: Amounts are truncated to one million yen)

Europe

Asia

Total

Eliminations
Consolidated/Corporate

103,285

15,305

6,759

4,631

129,982-

129,982

21,082939

410,39532,422(32,422)-

124,368

16,244

6,764

15,027

162,404(32,422)

129,982

Operating expenses

106,929

17,126

6,462

14,317

144,835(25,874)

118,960

Operating income(loss)

17,439

(882)

302

709

17,569(6,547)

11,021

Total

Previous period (From April 1, 2006 to March 31, 2007)
Japan

Net sales(1)Sales to third parties(2)Inter-segment sales
and transfers

America(Note: Amounts are truncated to one million yen)

Europe

Asia

Total

Eliminations
Consolidated/Corporate

156,042

17,382

7,102

3,835

184,362-

184,362

23,610804

86

12,37336,875(36,875)-

179,653

18,186

7,188

16,208221,238(36,875)

184,362

Operating expenses

159,255

19,133

7,050

15,755201,193(29,884)

171,309

Operating income(loss)

20,398

(946)

138

453

20,044(6,991)

13,053Total- 14 -

(Note) 1. Operating expenses of “Eliminations/Corporate” for the consolidated accounting periods of the ninemonths ended December 31, 2006, the nine months ended December 31, 2007, and the year ended
March 31, 2007 included unallocated corporate costs of 4,755 million yen, 5,633 million yen, and 6,864
million yen respectively.
The unallocated corporate costs consisted primarily of the parent company’s research and development
costs and headquarters administration costs.
2.

Classification of countries or areas is based on geographical proximity.

3.

The major countries included in each geographical area are as follows:
America…….. The United States of America and Brazil
Europe……… Belgium
Asia…………. China, Thailand and Singapore[Overseas Sales]
Previous period (From April 1, 2006 to December 31, 2006) (Note: Amounts are truncated to one million yen)
America

1. Overseas sales

Europe23,237

10,867

Asia

5,404

2. Consolidated net sales
Percentage of overseas sales

3. to consolidated net sales (%)

15.9%

America

7.5%

Percentage of overseas sales

14,410

Asia

8,207

20.5%

America

11.1%

Percentage of overseas sales

49,26337.9%(Note: Amounts are truncated to one million yen)
Europe31,8996.3%

15,071

Asia

7,567

Total

54,538184,362

2. Consolidated net sales
3. to consolidated net sales (%)

Total

129,982

Previous period (From April 1, 2006 to March 31, 2007)

1. Overseas sales

27.1%(Note: Amounts are truncated to one million yen)

Europe26,645

3.7%

2. Consolidated net sales
3. to consolidated net sales (%)

39,508145,796

Current period (From April 1, 2007 to December 31, 2007)

1. Overseas sales

Total

17.3%

8.2%

4.1%

29.6%

(Notes) 1. Overseas sales represent those of the Company and the consolidated subsidiaries to countries
and areas outside of Japan
2. Classification of countries or areas is based on geographical proximity.
3. The major countries included in each geographical area are as follows:
America………The United States of America, Canada and Brazil
Europe………. Belgium, Denmark and Germany
Asia………….. China, India, Indonesia, Taiwan and Thailand- 15 -

7. Production, Orders received and Sales(1) Production(Note: Amounts are truncated to one million yen)
Business segment

Previous Period(From April 1, 2006
To December 31, 2006)
Amountproduced

Current Period(From April 1, 2007
To December 31, 2007)

Ratio of change
from the previous
period (%)

Amountproduced

Previous Period(From April 1, 2006
To March 31, 2007)

Ratio of change
from the previous
period (%)

Amountproduced

Ratio of change
from the previous
period (%)

Medical Equipment

54,215

8.7

62,67015.6

73,011

11.5

Pharmaceutical

30,87015.7

35,715

15.7

41,744

16.4

Glass & Materials

2,653

6.5

2,349

(11.5)

3,253

(4.8)

Other

502

2.6

1,151

129.2

700

(23.3)

Total

88,24211.0

101,886

15.5

118,709

12.4(Notes) 1. Amounts produced are calculated based on average selling prices.
2. The above amounts are after eliminations of the inter-segment transactions.
3. The above amounts do not include the related consumption taxes etc.

(2) Orders received
Since we adopt the production system based on estimated orders, there is nothing applicable hereto regarding
the amount and the balance of orders received.
(3) Sales(Note: Amounts are truncated to one million yen)
Business segment

Previous Period(From April 1, 2006
To December 31, 2006)

Current Period(From April 1, 2007
To December 31, 2007)

Ratio of change

Previous Period(From April 1, 2006
To March 31, 2007)

Ratio of change

Ratio of change

Amount sold from the previous Amount sold from the previous Amount sold from the previous
period (%)

period (%)

period (%)

Medical Equipment

71,827

5.7

83,281

15.9

97,3007.1

Pharmaceutical

31,99522.1

37,491

17.2

42,152

19.7

Glass & Materials

10,186

17.1

8,491

(16.6)

12,9188.3

Store30,973(40.7)--

30,973(54.0)

Other

813(17.2)

718(11.6)

1,017(33.0)

Total

145,796(6.6)

129,982(10.8)

184,362(10.9)(Notes) 1. The above amounts are after eliminations of the intersegment transactions.
2. The above amounts do not include the related consumption taxes etc.

- 16 -