January 18, 2012
NSK Ltd.
Public Relations Department

NSK Announces Change of Specified Subsidiary

Tokyo, Japan, January 18, 2012 - NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Norio Otsuka) announced today that one of its subsidiaries has become a specified subsidiary.

1. Reason for the change

To respond to the rapidly growing automobile market in India, which is undergoing continued economic growth, NSK is currently expanding operations of NSK-ABC Bearings Limited (hereafter, "NABI"), an automobile bearings manufacturer established as a joint venture with a prominent company in the region.
NSK decided that it was essential to further increase the production capacity of NABI to prepare for growing demand forecast in the Indian market. Toward this end, the company increased its capital stake in NABI by 1,590 million Indian rupees (approximately 2.4 billion yen) on January 16, 2012. As a result, NABI's capital amounted to a yen equivalent of about 7.1 billion yen. As the amount corresponds to over 10% of NSK's capital, NABI qualifies as a specified subsidiary of NSK.

2. Overview of the specified subsidiary
Company name NSK-ABC Bearings Limited
Location SIPCOT Industrial Park in Sriperumbudur, a city in the suburban area of Chennai, Tamil Nadu, India
Representative Masatoshi Matsuda
Business activities Manufacture and sales of bearings
Capital 3.8 billion Indian rupees (approx. 7.1 billion yen) after increase in capital
Ownership ratio after increase in capital
  • NSK Ltd. 96.7%
  • ABC Bearings Limited 3.3%
Establishment March 2007
3. Date of change

January 16, 2012

4. Future outlook

NSK does not expect any significant impact on its consolidated financial results in the current fiscal year as a result of the change to specified subsidiary.

distribué par

Ce noodl a été diffusé par NSK Ltd. et initialement mise en ligne sur le site http://www.nsk.com. La version originale est disponible ici.

Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-18 08:24:31 AM et restera accessible depuis ce lien permanent.

Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité.