Slide 1: Financial Conference: Consolidated Business Results for the Year ended March 31, 2026
Financial Conference Consolidated Business Results for the Year ended March 31, 2026 Medium-Term Management Plan2028 May 13, 2026 NSK Ltd. Note: This document is an English translation of material written initially in Japanese. The Japanese original should be considered the primary version. Copyrigh
Slide 2: Notice Concerning Memorandum of Understanding on Business Integration between NSK and NTN
Notice Concerning Execution of Memorandum of Understanding Regarding Business Integration Through Establishment of a Joint Holding Company (Share Transfer) Between NSK Ltd. and NTN Corporation NSK Ltd. and NTN Corporation hereby announce that they have reached a basic agreement to establish a joint
Slide 3: Contents
Contents 1. Consolidated Business Results for the Year Ended March 31, 2026 2. Consolidated Business Forecast for the Year Ending March 31, 2027 3. Medium-Term Plan 2028 (Supplementary Information) This document contains forward-looking statements, including forecasts of financial performance and bu
Slide 4: Consolidated Business Results for the Year Ended March 31, 2026
Consolidated Business Results for the Year Ended March 31, 2027 The Steering Business was consolidated as a subsidiary on September 1, 2025, with financial results disclose as an independent segment starting with the results for the fiscal year ended March 31, 2026 (FY2025). Accordingly, equity meth
Slide 5: Key Points – Consolidated Business Results for FY2025
Key Points – Consolidated Business Results for FY2025 ✓ Sales and profits increased YoY with structural improvements and the Steering Business consolidation taking effect. YoY (billions of yen) YoY Steering Business Sales 911.6 bn ＋115.0 bn (＋100.6 bn) FY2025 Operating Income 38.8 bn +10.4 bn (＋6.3
Slide 6: Summary – Consolidated Business Results for FY2025
Summary – Consolidated Business Results for FY2025 ✓ Sales and profits increased YoY and exceeded revised forecast (Feb). ✓ Profit increased YoY despite the early recognition of restructuring costs (recorded ¥9.4bn up from ¥6.5bn) supported by factors including foreign exchange impact. FY2024 FY2025
Slide 7: Operating Income: Factors Behind Change (FY2024 ⇒ FY2025)
Operating Income: Factors Behind Change (FY2024 ⇒ FY2025) ✓ Steady progress on structural improvements; although the impact of volume/mix was negative (Steering Business) excluding forex and sales price improvement. (7.7) (Billions of yen) Steering Profitability＋6.5 Business Structural One-time refo
Slide 8: Industrial Machinery Business
Industrial Machinery Business FY2025 Result: Sales up +3.6% excluding forex impact. ・ Industrial Bearings: Increased mainly in machine tools in China. ・ Precision Products: Increased sales in China for machine tools and the Americas for semiconductor manufacturing equipment. Q4 operating income is 7
Slide 9: Automotive Business
Automotive Business FY2025 Result: Sales slightly down excluding forex impact. ・Sales in Europe declined, partly due to the impact of structural reforms. Sales in Asia (excl. Japan) increased due to sales expansion efforts. Operating income(%) of Q4 is 6.5% excluding ¥1.9bn one-time costs. * For FY2
Slide 10: FY2025 Sales by Customer Region (Excl. Steering Business)
FY2025 Sales by Customer Region (Excl. Steering Business) Japan : Sales increased in industrial machinery whereas decreased in automotive Americas: Robust demand continues excluding US tariff impact. (Billions of yen) Europe : Economic downturn, sales decreased in Industrial machinery and Automotive
Slide 11: Consolidated Business Forecast for the Year Ending March 31, 2027
Consolidated Business Forecast for the Year Ending March 31, 2027 Copyright NSK Ltd. All Rights Reserved.
Slide 12: FY2026 Full Year Forecast Assumptions
FY2026 Full Year Forecast Assumptions Exchange rate ✓ USD ¥150、 EUR ¥180、 CNY ¥21 ✓ Industrial machinery : Strong performance continues in semiconductor and machine Business tool sectors. Aftermarket expected to see a gradual recovery. environment ✓ Automotive : Supply chain risk; global vehicle pro
Slide 13: Consolidated Business Forecast for the Year Ending March 31, 2027 (FY2026)
Consolidated Business Forecast for the Year Ending March 31, 2027 (FY2026) ✓ Sales and profits forecast to increase YoY. The figures below reflect ¥9.0bn in structural reform costs. ✓ FY2026 Annual Dividend plan: ¥34/share (Interim Dividend: ¥17/share). FY2025 FY2026 YoY Increase/ Difference Full Ye
Slide 14: Operating Income: Factors Behind Change (FY2025 ⇒ FY2026 Forecast)
Operating Income: Factors Behind Change (FY2025 Result ⇒ FY2026 Full Year Forecast) (Billions of yen) ✓ Structural reform effect (profitability improvement) of ¥4.5bn for FY2026, and ¥15.0bn total improvement over the three years of FY2024-FY2026. Profitability +4.5 (Steering Business) One-time cost
Slide 15: Breakdown by Segment – Consolidated Business Forecast for FY2026
Breakdown by Segment – Consolidated Business Forecast for FY2026 Trend in Major Sectors (NSK forecast) Industrial Machinery Business FY2026 H1 FY2026 H2 FY2025 FY2026 Increase/ FY2026 FY2026 Difference Vs FY2025 H2 vs FY2026 H1 Full year Full year Decrease H1 H2 YOY (Billions of yen) Actual Forecast
Slide 16: Medium-Term Management Plan 2028
Medium-Term Management Plan2028 FY2026-FY2028 Any effects regarding the news released on May 12, 2026 are not factored in the new Medium-Term Management Plan 2028. Please note that any effects regarding this are not factored in the new Medium-Term Management Plan 2028. As appropriate, NSK will discl
Slide 17: Medium-Term Management Plan 2028 Contents
Medium-Term Management Plan 2028 1 NSK’s Vision for the Future / Aspirations: “NSK Vision 2036” 2 Review of Medum-Term Management Plan 2026 (MTP2026) 3 Medium-Term Management Plan 2028 (MTP2028) 4 Summary Copyright NSK Ltd. All Rights Reserved.
Slide 18: NSK’s Vision for the Future: NSK Vision 2036
１ NSK’s Vision for the Future / Aspirations: “NSK Vision 2036” To bring the “digital ideal motion” to life, NSK will continue to play a vital role as a piece of the puzzle that the world needs. NSK Corporate Philosophy We aim to expand beyond being a business focused on NSK contributes to a safer, s
Slide 19: Target Business Portfolio Composition for the Next Decade
２ NSK’s Vision for the Future: Target Business Portfolio Composition for the Next Decade ■Business Establish business focused on the growing robotics market. Robotics Robotics Business as New Pillar of Revenue Industrial ・Manufacture and supply parts such as bearings and ball Automotive machinery In
Slide 20: Review of Medium-Term Management Plan 2026
2 Review of Medium-Term Management Plan 2026 Achievements MTP2026 (modified in May, 2024) Progress • Overview of ¥15.0 bn profitability improvement plan [FY2024-FY2026] - Passed on cost increases due to inflation and U.S. tariffs to selling prices. Structural reform progress Growth and sales expansi
Slide 21: MTP 2028(1) – The Role of the Medium-Term Management Plan 2028
3 Medium-Term Management Plan 2028(1) – The Role of the Medium-Term Management Plan 2028 MTP 2026 MTP 2028 – FY2036 • MTP 2026 based on assumption of Business Portfolio Reform market recovery and growth • Continued low ROE Expansion in Key Sectors & Initiatives in the “Beyond” Domain (Actuators, Rob
Slide 22: MTP 2028(2) – Targets
3 Medium-Term Management Plan 2028(2) –Targets– • Achieve 8% ROE by MTP2028. • The Steering Business will not be included in the management targets. We will continue to seek strategic partners and maintain profitability in the Steering Business. Management Objectives FY2025 FY2028 Actual Target Prof
Slide 23: MTP 2028(3) – Profitability Roadmap
3 Medium-Term Management Plan 2028(3) –Profitability Roadmap– • Under the assumption that the market will see a gradual recovery (annual growth rate of approximately 1%). • We will offset rising costs and inflation through higher selling prices and cost reductions. • We aim to achieve our targets by
Slide 24: MTP 2028(4) – Portfolio Transformation and Structural Reform [Industrial Machinery]
3 Medium-Term Management Plan 2028(4) –Portfolio Transformation and Structural Reform [Industrial Machinery Business] • Drive portfolio transformation and complete structural reforms, with the goal of restoring operating income to over 10%. Portfolio Transformation and Target Improvement in Operatin
Slide 25: MTP 2028(4) – Portfolio Transformation and Structural Reform [Automotive]
3 Medium-Term Management Plan 2028(4) –Portfolio Transformation and Structural Reform [Automotive Business] • Aim to strengthen our revenue base by securing international competitiveness through sales expansion driven by product differentiation and operational improvements. Portfolio Transformation
Slide 26: MTP 2028(5) – Structural Reforms
3 Medium-Term Management Plan 2028(5) –Structural Reforms- • In addition to Europe, promote structural reforms in Japan with a view to further strengthen our bottom line. MTP2026 MTP2028 FY2023 FY2024 FY2025 FY2026 FY2027 FY2028 Cost 1.0bn 4.6bn 9.4bn 9.0bn 12.5bn 2.5bn Effect (Benefit) - +1.1bn +5.
Slide 27: MTP 2028(6) – Cash Allocation (Three-year total)
3 Medium-Term Management Plan 2028(6) –Cash Allocation (Three-year total)– • Cash generated will be allocated to strategic investments and share buybacks, in addition to investment into sustainable growth and dividends. • Sale of policy shares (cross- Effective Use of shareholdings) Assets • Utiliza
Slide 28: Summary
4 Summary • Implementing measures to achieve 8% ROE under Medium-Term Management Plan 2028 and accelerating efforts toward Vision 2036. Portfolio ✓ Develop differentiated products and expand sales in key sectors. transformation ✓ Accelerate business expansion into robotics sector through active coll
Slide 29: Intangible assets that support and drive NSK Vision 2036
P21 App. Intangible assets that support and drive NSK Vision 2036 Maximizing the Value of Data-Driven Management Pursuing Our Four Core Values Human Capital and AI Adoption ✓ Achieve MTP2026 targets for ✓ Employees Engagement Score ✓ Modernize core systems by Scope 1 and 2 CO₂ emissions (Global) Tar
Slide 30: (Supplementary Information)
(Supplementary Information) Copyright NSK Ltd. All Rights Reserved.
Slide 31: Shareholder Returns
Supplementary Information : Shareholder Returns ✓ FY2026 full year dividend ¥34/share (Interim dividend ¥17/share). 390% 370% Dividend history (¥/share) 350% 330% 310% ● Payout ratio ◆ DOE ■ Year End ■ Interim 290% 270% 250% Mid-Term Management 173.8% 156.1% 230% 210% 190% Plan 2028 83.6% 170% 150%
Slide 32: Financial Results by Business Segment
Supplementary Information : Financial Results by Business Segment *Equity method investment gains/losses related to the Steering Business included in the Automotive Business for FY2024 (ended March 31, 2025) and FY2025 through August have been reclassified and presented under the Steering Business s
Slide 33: Sales by Customer Location
Supplementary Information: Sales by Customer Location FY2024 Actual FY2025 Actual YOY Increase/ (Billions of yen) Q1 Q2 Q3 Q4 Full year Q1 Q2 Q3 Q4 Full Year Difference Decrease Sales 200.5 197.1 199.3 199.7 796.7 195.8 216.5 246.2 253.2 911.6 +115.0 +14.4% Japan 64.1 65.8 66.3 65.1 261.3 62.5 68.9
Slide 34: Consolidated Balance Sheet
Supplementary Information: Consolidated Balance Sheet Ex. Rate End of End of FY2024 FY2025 Due tin part to the consolidation of the Steering Business as a subsidiary 1USD 149.5 159.9 on September 1, 2025, assets and liabilities have increased from the 1EUR 162.0 183.4 previous fiscal year-end balanc
Slide 35: Inventories/ Interest-Bearing Debt
Supplementary Information: Inventories/ Interest-Bearing Dept Ex. Rate End of End of FY2024 FY2025 Due tin part to the consolidation of the Steering Business as a subsidiary 1USD 149.5 159.9 on September 1, 2025, assets and liabilities have increased from the 1EUR 162.0 183.4 previous fiscal year-en
Slide 36: Capital Expenditures, Depreciation and Amortization, R&D Expenses
Supplementary Information : Capital Expenditures, Depreciation and Amortization, R&D Expenses FY2024 FY2025 FY2026 Full year Full year Full year (Billions of yen) Actual Actual Forecast Capital Expenditures 56.5 51.9 60.0 Capital Expenditures 51.0 47.2 55.0 (Excl. lease) Depreciation and 52.4 55.1 5