RNS Number:9727H
Nipro Corporation
19 November 2007

Consolidated Financial Statements

For the Six-Month Period ended September 30, 2007
(Fiscal Year Ending March 31,2008)

                                                              November 19, 2007

Company name  : NIPRO CORPORATION        Stock Exchange listed: Tokyo and Osaka
Code Number   : 8086                               URL: http://www.nipro.co.jp/
Representative: Minoru Sano, President and Representative Director
Contact       : Akihiko Yamabe, Director, General Manager of Accounting and
                Corporative Planning Division, TEL (06) 6372-2331
Scheduled date of the semi-annual securities report filing: December 20, 2007
Scheduled date to commence payment of interim dividends   : December 10, 2007

                                 (Note: Amounts are truncated to 1 million yen)
1. Consolidated Results for the Six months ended September 30, 2007
   (From April 1, 2007 to September 30, 2007)

(1) Consolidated Results of Operations (Note: % shows increase/decrease ratio
    against the six motn ended September 30, 2006)
+---------+----------------+----------------+----------------+----------------+
|         |   Net Sales    |Operating Income|Recurring Income|   Net Income   |
+---------+----------------+----------------+----------------+----------------+
|Six month| Millions     % | Millions     % | Millions     % | Millions    %  |
|ended    |   of yen       |   of yen       |   of yen       |   of yen       |
|September|                |                |                |                |
|30, 2007 |  84,288  (15.9)|   7,432   25.1 |   6,537   34.2 |   3,328  (17.1)|
|Six month|                |                |                |                |
|ended    |                |                |                |                |
|September|                |                |                |                |
|30, 2006 | 100,280  ( 1.6)|   5,940  ( 4.1)|   4,869  (21.5)|   4,016   97.4 |
+---------+----------------+----------------+----------------+----------------+
|Year     |                |                |                |                |
|ended    |                |                |                |                |
|March    | 184,362     -  |  13,053     -  |  11,355     -  |   8,555     -  |
|31, 2007 |                |                |                |                |
+---------+----------------+----------------+----------------+----------------+

+----------------------------------+------------------+-----------------------+
|                                  |Earnings per Share|Diluted Earnings per   |
|                                  |                  |        share          |
+----------------------------------+------------------+-----------------------+
|                                  |         Yen      |           Yen         |
|Six month ended September 30, 2007|       52.44      |            -          |
|Six month ended September 30, 2006|       63.24      |            -          |
+----------------------------------+------------------+-----------------------+
|Year ended March 31, 2007         |      134.71      |            -          |
+----------------------------------+------------------+-----------------------+
 Note: Equity in loss of affiliate: Six month ended September 30, 2007  397
       million yen,  Six month ended September 30, 2006  356 million yen,
       Year ended March 31, 2007  791 million yen


(2) Consolidated Financial Position
+-----------------------+------------+------------+------------+--------------+
|                       |Total Assets| Net Assets |Equity Ratio|Net assets per|
|                       |            |            |            |    share     |
+-----------------------+------------+------------+------------+--------------+
|                       |   Millions |  Millions  |         %  |          Yen |
|                       |     of yen |    of yen  |            |              |
|Six month ended        |            |            |            |              |
|September 30, 2007     |    341,968 |    126,300 |      36.5  |     1,967.54 |
|Six month ended        |            |            |            |              |
|September 30, 2006     |    319,733 |    116,166 |      35.7  |     1,795.78 |
+-----------------------+------------+------------+------------+--------------+
|Year ended             |            |            |            |              |
|March 31, 2007         |    336,659 |    127,020 |      37.3  |     1,979.21 |
+-----------------------+------------+------------+------------+--------------+

 Note: Shareholder's Equity: Six month ended September 30, 2007  124,882
       million yen,  Six month ended September 30, 2006  114,037 million yen,
       Year ended March 31, 2007  125,561 million yen

(3) Consolidated Cash Flows
+------------------+------------+------------+------- ----+-----------+
|                  |Cash flows  |Cash flows  |Cash flows  |   Cash    |
|                  |   from     |   from     |   from     |   and     |
|                  | operating  | investing  | financing  |   cash    |
|                  | activities | activities | activities |equivalents|
+------------------+------------+------------+------------+-----------+
|                  |  Millions  |  Millions  |  Millions  |  Millions |
|                  |    of yen  |    of yen  |    of yen  |    of yen |
|Six month ended   |            |            |            |           |
|September 30, 2007|     1,931  |   (15,737) |       467  |    33,118 |
|Six month ended   |            |            |            |           |
|September 30, 2006|     7,984  |     7,146  |   (23,946) |    41,160 |
+------------------+------------+------------+------------+-----------+
|Year ended        |            |            |            |           |
|March 31, 2007    |    14,488  |    (2,924) |   (15,654) |    46,109 |
+------------------+------------+------------+------------+-----------+

2. Dividends
+-------------------------------------+-----------------------------------+
|                                     |    Annual dividends per share     |
+-------------------------------------+-----------+-----------+-----------+
|      (Basis date)                   |  Interim  |  Year-end |  Annual   |
|                                     |  dividens |  dividens |  dividens |
+-------------------------------------+-----------+-----------+-----------+
|                                     |     Yen   |     Yen   |     Yen   |
|Year ended March 31, 2007            |   43.00   |   37.00   |   80.00   |
+-------------------------------------+-----------+-----------+-----------+
|Year ending March 31, 2008           |   28.00   |           |           |
+-------------------------------------+-----------+-----------+   48.50   |
|Year ending March 31, 2008(Projected)|           |   20.50   |           |
+-------------------------------------+-------- --+-----------+-----------+

3. Projected Consolidated Financial Results for the Year ending March 31, 2008
   (From April 1, 2007 to March 31, 2008)

                  (Note: % shows increase/decrease ratio against March 31,2007)
+-----------+--------------+------------+-------------+--------------+--------+
|           |   Net Sales  | Operating  |  Recurring  |  Net Income  |Earnings|
|           |              |   Income   |   Income    |              |  per   |
|           |              |            |             |              | Share  |
+-----------+--------------+------------+-------------+--------------+--------+
|           |  Millions    | Millions   | Millions    | Millions     |   Yen  |
|Year ending|   of yen   % |  of yen   %|  of yen    %| of yen     % |        |
|March 31,  |              |            |             |              |        |
| 2008      |162,000 (12.1)| 14,100  8.0| 13,050  14.9| 6,600  (22.9)| 103.98 |
+-----------+--------------+------------+-------------+--------------+--------+

4. Others

(1) Change in significant subsidiaries during the six month ended September 30,
    2007(Resulting in a change in scope of consolidation): Yes

    Addition: 1 (Saitama Daiichi Pharmaceutical Co., Ltd.)   Removal: 0

(2) Changes in accounting principles, procedures or presentation related to the
    preparation of consolidated financial statements (i.e., changes in the
    basis of significant accounting policies)

    1) Changes due to adoption of new accounting standards: Yes
    2) Changes other than those included in 1) above: None

(3) Total number of common shares issued

    1) Total number of common shares issued at the end of period. (Including
       treasury stock):
       September 2007: 63,878,505 shares   September 2006: 63,878,505 shares
       March 2007    : 63,878,505 shares

    2) Total number of shares in treasury at the end of period:
       September 2007: 407,015 shares      September 2006:    375,315 shares
       March 2007    : 393,067 shares


(Reference) Overview of Non-consolidated financial results

1. Results for the six month ended September 30, 2007
   (From April 1, 2007 to September 30, 2007)

(1) Results of Operations (Note: % shows increase/decrease ratio against the
    six motn ended September 30, 2006)
+------------------+-------------+--------------+---------------+-------------+
|                  |  Net Sales  |  Operating   |   Recurring   | Net Income  |
|                  |             |    Income    |   Income      |             |
+------------------+-------------+--------------+---------------+-------------+
|                  | Millions    | Millions     | Millions      | Millions    |
|                  | of yen    % | of yen    %  | of yen      % | of yen    % |
|Six month ended   |             |              |               |             |
|September 30, 2007|  67,192 8.1 |  6,500  40.8 |   6,207  29.3 | 3,575 (34.6)|
|Six month ended   |             |              |               |             |
|September 30, 2006|  62,134 8.0 |  4,615 (17.6)|   4,802 (19.5)| 5,465 167.9 |
+------------------+-------------+--------------+---------------+-------------+
|Year ended        |             |              |               |             |
|March 31, 2007    | 127,407   - | 10,696     - |  11,031     - | 10,420   -  |
+------------------+-------------+--------------+---------------+-------------+

+-------------------------------------------------+---------------------------+
|                                                 |    Earnings per Share     |
+-------------------------------------------------+---------------------------+
|                                                 |        Yen                |
|Six month ended September 30, 2007               |      56.32                |
|Six month ended September 30, 2006               |      86.04                |
+-------------------------------------------------+---------------------------+
|Year ended March 31, 2007                        |     164.08                |
+-------------------------------------------------+---------------------------+

(2) Financial Position
+------------------+--------------+--------------+------------+-----------+
|                  | Total Assets |  Net Assets  |Equity Ratio|Net Assets |
|                  |              |              |            | per Share |
+------------------+--------------+--------------+------------+-----------+
|                  |  Millions    |  Millions    |         %  |       Yen |
|                  |    of yen    |    of yen    |            |           |
|Six month ended   |              |              |            |           |
|September 30, 2007|    306,436   |    131,924   |      43.1  |  2,078.49 |
|Six month ended   |              |              |            |           |
|September 30, 2006|    284,700   |    125,376   |      44.0  |  1,974.34 |
+------------------+--------------+--------------+------------+-----------+
|Year ended        |              |              |            |           |
|March 31, 2007    |    306,347   |    133,768   |      43.7  |  2,107.07 |
+------------------+--------------+--------------+------------+-----------+

Note: Shareholder's Equity: Six month ended September 30, 2007  131,924 million
      yen,  Six month ended September 30, 2006  125,376 million yen,
      Year ended March 31, 2007  133,768 million yen


2. Projections for the Results of the Year ending March 31, 2008 
  (From April 1, 2007 to March 31, 2008)

                  (Note: % shows increase/decrease ratio against March 31,2007)
+--------------+-------------+------------+------------+-------------+--------+
|              |  Net Sales  | Operating  | Recurring  | Net Income  |Earnings|
|              |             |            |   Income   |             |  per   |
|              |             |   Income   |            |             | Share  |
+--------------+-------------+------------+------------+-------------+--------+
|              | Millions    | Millions   | Millions   | Millions    |    Yen |
|Year ending   |   of yen   %|   of yen  %|   of yen % |   of yen  % |        |
|March 31, 2008| 129,000  1.3| 11,350  6.1| 11,350  2.9| 6,350 (39.1)| 100.04 |
+--------------+-------------+------------+------------+-------------+--------+

*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.



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

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