NSK’s Investment in Poland Copyright © 2003 NSK Ltd. All rights reserved. Global Bearing Suppliers ○NSK is No.4 supplier in the global market, No. 1 in Japan (2002 sales) ○Bearing market is very oligopolistic with 5 or 6 global players Bearing Global Market Share SKF 16% INA/FAG 28% Timken/Torrington 15% NSK NTN 8% Koyo 13% 8% 12% others UBS Analyst Report, August 2003 NSK’s Global Business（１）Manufacturing UK Germany China Poland Korea USA Italy India Thailand Europe 8 Americas 8 Japan 17 Malaysia Indonesia Asia 10 Bearings Automotive Components Precision Products Total 43 Brazil NSK’s Global Business（２） 4,970 740 M.USD 8,336 Sales, Headcount 2,538 M.USD 2,996 744 M.USD $ $ $ Europe Americas Japan 4,049 $ 731 M.USD Asia Headcount total 20,351 $ Sales total 4,753 M.USD History of NSK’s Business Relation in Poland Baltic Sea Russia Germany FLT Poznan (SKF） Lithuania Belarus Warszawa Poznan FLT Krasnik 1980 plant export Kielce Krasnik Prema-Milmet (Timken) 1979 plant export Czech Sosnowiec Ukraine FLT ISKRA (NSK） 1973 and 1978 plant export NSK ISKRA The history 1897 Established as glass manufacturer 1959 Started bearing manufacturing 1973 Imported NSK’s bearing manufacturing equipments 1978 Imported NSK’s bearing manufacturing equipments 1991 Started privatize planning 1998 (January) NSK and Nichimen acquired FLT ISKRA Outline Sales: 120 Million USD Bearings 90% Spark plug and others 10% Headcount : 2,000 NSK ISKRA – Business Results (Million USD） 7.5 9.8 Sales 5.3 4.7 5.2 0.2 EBIT -1.3 -0.5 -0.5 2000 2001 2002 2003 (monthly average) (monthly average) (monthly average) (monthly average) NSK’s Business Strategy in Europe - Reasons why we invested in Poland - UK (Peterlee) 1. To avoid exchange rate risk 2. Cost competitiveness 3. Maintain a leading position in the bearing business by establishing a manufacturing capabilities in central Europe 4. Strategic production shift of standard ball bearings and automotive component manufacturing from UK to continental Europe Sales by region Products by origin Poland (Kielce) UK 30% Continental Europe 70% Continental Europe 18% UK 82% Future Development Baltic Sea Germany A-1 A-2 Warszawa Walborzych NSSE Polska Electric Power Steering AKS Precision Ball Polska Steel Balls Yagi Kogyo Forging process Radom Toho Poland Caging and Seals A-4 Motorway Kielce (NSK ISKRA) Tychy Toyo Seal Poland Seals
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