Revision of results forecast

Maruwa Co Ld
08 February 2007


                                                                 8 February 2007
MARUWA CO., LTD.
3-83 Minamihonjigahara-cho, Owariasahi-city, Aichi-pref., 488-0044 JAPAN


                                           (Translation)
            Notice regarding the revision of operating results forecast for fiscal 2007


MARUWA CO., LTD. ('MARUWA') announced that the operating results forecast for fiscal 2007 (1 April
2006 - 31 March 2007) announced on 16 May 2006 were revised as follows;

1. Revised consolidated operating results forecast for Fiscal 2007 (1 April 2006 - 31 March 2007)
                                                                   (Million yen, %)
                                                  Net sales             Net income
   Previously announced forecast (A)                 24,530                   1,690
   Revised forecast (B)                              21,600                   1,300
   Change (B - A)                                    -2,930                    -390
   Change rate (%)                                   -11.9%                  -23.1%
   Previous fiscal year ended 31 March               20,278                   1,135
   2006

2. Revised non-consolidated operating results forecast for Fiscal 2007 (1 April 2006 - 31 March
2007)
                                                                   (Million yen, %)
                                                  Net sales              Net income
   Previously announced forecast (A)                 14,500                     600
   Revised forecast (B)                              14,300                     480
   Change (B - A)                                      -200                    -120
   Change rate (%)                                    -1.4%                  -20.0%
   Previous fiscal year ended 31 March               13,883                     549
   2006

3. Reasons for revision
For full year operating results in this year, MARUWA expects to secure a revenue increase and a
double-digit increase in profit compared to the last year; however, we forecast that net sales will
sharply drop against the previous outlook, influenced by the shrinkage of public works in the
Lighting Equipment business harder than we expected.  In addition, in the EMC Components division,
total sales may fall below the initial outlook due to delay in a certain new market launch which had
been initially scheduled.  In these circumstances, we revise the operating results forecasts as
stated above.

(Reference)
Sales forecast by business segment
                                                                                    (Million yen, %)
                                    Fiscal 2007 ending 31 March 2007                 Fiscal 2006
                            Previously       Revised forecast   Change rate (%)
                        announced forecast                                       ended 31 March 2006
   Ceramic components                20,510              18,700            -8.8%              16,628
   Lighting equipment                 4,020               2,900           -27.9%               3,650
   Net sales                         24,530              21,600           -11.9%              20,278

*The forecasts stated above are based on currently available information as of the date of
announcement.

Actual results may differ from these forecasts due to various factors.




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