NSK Ltd.

Since its founding in 1916, the company has accumulated five core technologies: tribology (friction and lubrication), materials technology, analysis technology, mechatronics technology, and production technology. Achievements include the establishment of the "NSK Tribology Collaborative Research Center" with Institute of Science Tokyo (2023) and the commercialization of technology to suppress oxidative degradation of edible oil, among "2025

The company has manufacturing and sales bases in the Americas, Europe, China, ASEAN, India, and other regions, building a global structure comprising 90 consolidated subsidiaries and 18 affiliated companies. It serves diverse industrial customers in Automotive, machine tools, semiconductor manufacturing equipment, energy, and other sectors, diversifying dependence on any specific market. The company has also built up a track record in high-profitability areas such as the Americas aftermarket and semiconductor manufacturing equipment.

In FY2026 (ending March 2026), the net D/E ratio stood at 0.24x, maintaining a sound level well below the target (0.4x or less). The company has obtained an "A" rating from Rating and Investment Information, Inc. and an "A+" rating from Japan Credit Rating Agency, Ltd. It has also secured a ¥40 billion commitment line and a ¥50 billion commercial paper issuance framework, keeping liquidity risk under control.

Entered into a basic agreement in May 2026 to promote management integration through the establishment of a joint holding company (via a share transfer). By combining the technology, quality, and management of both companies, the aim is to build a robust and sustainable business foundation, thereby achieving long-term and profitable growth and securing the position of Japan's industrial base in the world.

In September 2025, NS&C and its subsidiaries were brought into the scope of consolidation, establishing the Steering business as the third reportable segment. In FY2026 (ending March 2026), the Steering business recorded net sales of ¥100,554 million and operating profit of ¥7,730 million (including one-time gains and losses). For FY2027 (ending March 2027), net sales of the Steering business are forecast at ¥170,000 million (+69.1% year on year) with operating profit of ¥4,000 million.

Anticipating increased capital expenditure demand centered on semiconductor-related fields against the backdrop of expanding AI demand, the company is accelerating growth in the Industrial Machinery Business. In addition to steady demand trends in the Americas aftermarket and for semiconductor manufacturing equipment, the company is promoting expanded sales of high-value-added products such as Condition Monitoring Systems. For FY2027 (ending March 2027), net sales of the Industrial Machinery Business are forecast at ¥400,000 million (+6.0% year on year), with operating profit of ¥22,000 million (+75.1% year on year).

Strengthening the profit base of the Automotive Business by expanding EV/HEV-compatible products such as Ball Screws for Electro-Hydraulic Brake Systems and low-torque bearings. Continuing to promote the pass-through of tariffs into selling prices, securing the effect of increased revenue in the Americas. For FY2027 (ending March 2027), net sales of the Automotive Business are forecast at ¥400,000 million (-0.8% year on year), with operating profit of ¥18,000 million (+3.6% year on year).

In response to the deterioration of market conditions in the European manufacturing industry, the company is promoting structural reform of its European business in the Industrial Machinery and Automotive segments. In FY2026 (ending March 2026), one-time expenses were recorded, but the company aims to improve its medium- to long-term profitability through the completion of structural reform. Under the next medium-term management plan (with FY2027 (ending March 2027) as its first year), the company plans to promote further profit improvement and transformation of its product portfolio.