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The eBearing News
August 19, 2003
NSK Reports First Quarter 2003 Results
copyright © 2003 eBearing Inc.
NSK Ltd. (Japan) reported first quarter 2003 results, for the period ended June 30, 2003.
NSK is Japan's largest bearing manufacturer. While bearing sales represent 64% of overall company
sales, they account for 88% of NSK's recent profits. In fact, during NSK's fiscal year just ended
March 31, 2003, bearings netted ¥22.1 million in profits while other operations combined to
bring down the overall net to ¥21.2 million.
Other business segments of NSK are involved in automotive components and precision machinery and parts.
First quarter sales were ¥ 125.7 billion (USD $1.06 billion), producing operating income of
¥4.1 billion ($34.6 million), or 3.3% of sales. Net income reached ¥1.4 billion ($11.8 million),
or 1.1% of sales.
Bearing sales in 2003's first quarter were ¥80.8 billion ($682.1 million), netting profit
of ¥4.3 billion ($36.3 million).
NSK said bearing sales were up due to continuing strong demand and improved market penetration in both Japan
and its overseas markets. In Japan, sales of semi-commodity industrial bearings were up slightly but
flat in other markets.
In North America, bearing sales to the automotive industry were up, but industrial bearing sales
were, "disappointing." European sales were similarly up in the automotive sector but industrial bearing
sales declined. Asia and Oceania were cited as bright spots, with economic growth and increasing local
production in China working to push up bearings sales even as customer production shifted from region to
region.
Going forward, NSK said it expects to see a continued weak economic recovery in all of its markets.
In that environment, NSK has, "continued to implement profitability improvement measures throughout the Group."
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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