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Copyright NSK Ltd. All Rights Reserved. FINANCIAL CONFERENCE Consolidated Business Results for the First Half ended September 30, 2025 November 5, 2025 NSK Ltd. Cautionary Statements with Respect to Forward-Looking Statements Statements made in this report with respect to plans, strategies and future performance that are not historical fact are forward-looking statements. NSK cautions that a number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Note : This document is an English translation of material written initially in Japanese. The Japanese original should be considered the primary version.
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Copyright NSK Ltd. All Rights Reserved. Contents 1. Consolidated Business Results for the First Half ended September 30, 2025 2. Consolidated Business Forecast for the Year Ending March 31, 2026 3. Mid-Term Management Plan (MTP2026) FY2025 Initiatives (Supplementary Information)
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Copyright NSK Ltd. All Rights Reserved. Consolidated Business Results for the First Half Ended September 30, 2025 The Steering Business was consolidated as a subsidiary on September 1, 2025, with financial results disclosed as an independent segment starting with the results for the fiscal year ending March 31, 2026 (FY2025). Accordingly, equity method investment gains/losses related to the Steering Business included in the Automotive Business for FY2024 (ended March 2025) and FY2025 through August have been reclassified and presented under the Steering Business segment.
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Copyright NSK Ltd. All Rights Reserved. Sales 885.0bn +125.0bn (＋90.0bn) Operating Income (OI) 30.0bn ＋8.0bn (＋3.5bn) *OI Excl. One-Time Expenses 37.6bn +7.1bn ✓ Sales and profits increased YoY ✓ Completed consolidation of Steering Business subsidiary on September 1. (Non-recurring gains/losses have occurred) Key Points – Consolidated Business Results for FY2025 H1 4 ✓ Revised forecast to reflect Steering Business consolidation and changes in the business environment ✓ Full Year Dividend Plan: ¥34 yen/share (No change; Interim Dividend ¥17/share) FY2025 H1 Result FY2025 Full Year Forecast Sales 412.3bn ＋14.6bn (＋15.2bn) Operating Income (OI) 16.5bn +6.8bn (＋3.8bn) *OI Excl. One-Time Expenses 16.4bn +2.9bn Impact of Steering Business Consolidation Impact of Steering Business Consolidation Compared to May Forecast YoY *OI Excl. One-Time Expenses: Refers to Operating Income excluding transient factors such as forex impact and one-time expenses for structural reforms and Steering Business consolidation. (Billions of yen) (Billions of yen)
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Copyright NSK Ltd. All Rights Reserved. FY2024 FY2025 FY2025 (Billions of yen) H1 Q1 Q2 H1 H1 Forecast as of May 397.6 195.8 216.5 412.3 +14.6 +3.7% 380.0 760.0 Operating income 9.7 4.8 11.7 16.5 +6.8 +69.7% 10.5 22.0 (%) 2.4% 2.4% 5.4% 4.0% 2.8% 2.9% excluding one-time expenses 13.5 5.9 10.5 16.4 +2.9 +21.4% 12.5 30.5 (%) 3.4% 3.0% 4.9% 4.0% 3.3% 4.0% Income before income taxes 7.7 4.9 11.2 16.1 +8.3 +107.6% 9.0 19.0 Net income attributable to owners of the parent 3.7 1.1 8.2 9.3 +5.6 +150.1% 3.5 7.0 Continuing and discontinued operations Net income attributable to owners of the parent 2.0 1.1 8.2 9.3 +7.4 +373.3% 3.5 7.0 (Ex. rate: 1USD=) 152.6 144.6 147.5 146.0 -6.6 -4.3% 135.0 135.0 ( 〃 1EUR=) 165.9 163.8 172.3 168.1 +2.1 +1.3% 155.0 155.0 ( 〃 1CNY=) 21.2 20.0 20.6 20.3 -0.9 -4.0% 19.0 19.0 Increase/ Decrease YOY Difference YOY Continuing operations Sales Summary – Consolidated Business Results for FY2025 H1 (Forex impact) (-1.2) 5 ✓ Profits increased YoY even excluding forex impact and the impact of Steering Business consolidation. (Steering Business sales YoY +¥15.2 billion / Operating income +¥3.8 billion.) ✓ Progress exceeds our May forecast. (-8.9) ※2 (-2.3) ※1 *1 OI Excl. One-Time Expenses: Refers to Operating Income excluding transient factors such as forex impact and one-time expenses for structural reforms and Steering Business consolidation. *2 FY25 results do not include discontinued operations; only continuing operations are included.
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Copyright NSK Ltd. All Rights Reserved. FY2024 FY2025 (Billions of yen) H1 H1 Increase/ Decrease Difference H1 Full Year Sales Total 397.6 412.3 +14.6 +3.7% 380.0 760.0 Excluding Steering Business 397.6 397.1 -0.6 -0.1% 380.0 760.0 Industrial Machinery Business 180.5 180.8 +0.3 +0.2% 175.0 352.0 Automotive Business 199.1 201.2 +2.1 +1.0% 191.0 380.0 Others 33.6 28.2 -5.4 -16.1% 27.0 54.5 Eliminations (sales) -15.6 -13.2 +2.4 - -13.0 -26.5 Steering Business - 15.2 +15.2 - - - Operating Income Total 9.7 16.5 +6.8 +69.7% 10.5 22.0 （%） 2.4% 4.0% 2.8% 2.9% Excluding Steering Business 10.5 13.5 +3.0 +28.2% 10.5 22.0 2.6% 3.4% 2.8% 2.9% Industrial Machinery Business 5.5 4.9 -0.6 -11.2% 5.5 13.5 3.0% 2.7% 3.1% 3.8% Automotive Business 6.4 8.9 +2.5 +38.4% 5.5 10.0 3.2% 4.4% 2.9% 2.6% Others 0.9 0.3 -0.7 -71.4% 0.5 0.5 2.8% 1.0% 1.9% 0.9% Other operating income and expenses /Adjustments -2.4 -0.6 +1.8 - -1 -2 Steering Business -0.8 3.0 +3.8 - - - - 19.8% - - YOY FY2025 Reference: Breakdown by Segment – Consolidated Business Results for FY2025 H1 6 *For FY24 and FY25 through August, equity method investment gains/losses for the Steering Business have been reclassified from the Automotive Business to the Steering Business. *
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Copyright NSK Ltd. All Rights Reserved. ＋6.8 Increase/ decrease in costs One-Time Expenses Profitability improvement Forex impact Inflation/ Labor cost increase/ Impact of tariffs Structural reforms results Steering Business (Billions of yen) 0 FY2024 H1 FY2025 H1 Volume/ MIX Operating Income: Factors Behind Change (FY2024 H1 ⇒ FY2025 H1) 7 US tariff impact -3.1 Structural reforms costs FY2024 -1.8 FY2025 -0.6 Profitability＋2.0 Portfolio transformation Sales price improvement (Tariff cost transfer +2.4) Cost reductions Productivity improvement +1.7 +0.6 +1.3 +5.0 Excluding Steering Business YoY＋3.0
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Copyright NSK Ltd. All Rights Reserved. 77.6 76.7 76.5 76.6 75.9 77.4 12.9 13.3 14.0 13.9 13.3 14.2 90.5 90.0 90.5 90.5 89.2 91.6 2.7 2.8 2.8 5.6 1.6 3.3 -1.5 0.5 2.5 4.5 6.5 8.5 10.5 12.5 14.5 -11.0 9.0 29.0 49.0 69.0 89.0 109.0 1Q 2Q 3Q 4Q 1Q 2Q ■Sales(Ind GRG) ■Sales(Precision) ■O.I. ● O.I.(%) FY25 H1 Result: Sales up +2.7% excluding forex impact. Gradual recovery. ・ Industrial Bearings: Increased mainly in machine tools in China. ・ Precision Products: Increased sales in the Americas for semiconductor manufacturing equipment. ・ Recorded one-time expenses for structural reforms: FY2025 Q1: ¥0.3 bn Q2: ¥0.3 bn; FY2024 Q1: None Q2: ¥1.2 bn Q3: ¥0.1 bn Q4: ¥0.5 bn ・ Operating Income improved from Q1 to Q2, but further improvement remains to reach our target. FY2024 Full Year Actual FY2025 Full Year Actual Increase/ Decrease YOY Difference YOY Sales 180.5 180.8 +0.3 +0.2% Industrial Machinery Bearings 154.3 153.3 -1.0 -0.7% Precision Machinery and Parts 26.2 27.5 +1.3 +5.0% Operating income 5.5 4.9 -0.6 -11.2% (%) 3.0% 2.7% excluding one-time expenses 6.7 5.5 -1.2 -18.1% (%) 3.7% 3.1% (Ex. rate: 1USD=) 152.6 146.0 -6.6 -4.3% ( 〃 1EUR=) 165.9 168.1 +2.1 +1.3% ( 〃 1CNY=) 21.2 20.3 -0.8 -4.0% 3.0% 3.1% 3.1% 6.2% 1.8% 3.6% (Billions of yen) Industrial Machinery Business 8 (-4.5) (+2.7％) FY24 FY25 USD 155.9 149.4 152.4 152.6 144.6 147.5 EUR 167.9 164.0 162.6 160.5 163.8 172.3 CNY 21.5 20.8 21.2 21.0 20.0 20.6 (Forex Impact) (Excl. Forex Impact)
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Copyright NSK Ltd. All Rights Reserved. FY2024 Full Year Actual FY2025 Full Year Actual Increase/ Decrease YOY Difference YOY Sales 199.1 201.2 +2.1 +1.0% Operating income 6.4 8.9 +2.5 +38.4% (%) 3.2% 4.4% excluding one-time expenses 6.9 8.9 +2.0 +29.1% (%) 3.4% 4.4% (Ex. rate: 1USD=) 152.6 146.0 -6.6 -4.3% ( 〃 1EUR=) 165.9 168.1 +2.1 +1.3% ( 〃 1CNY=) 21.2 20.3 -0.8 -4.0% FY25 H1 Result: Sales and profits up YoY . Sales up +3.2% excluding forex impact. ・ Successful sales expansion in China and the Americas contributed to year-on-year growth. Sales declined in Europe. ・ Recorded one-time expenses: FY2025 Q1: ¥0.1 bn (unrelated to structural reforms), Q2: ¥0.0 bn FY2024 Q1: ¥0.5 bn Q2: None Q3: ¥2.5 bn (¥1.0 bn unrelated to structural reforms) Q4: ¥0.1 bn Automotive Business 9 Global Vehicle Production (million; S&P) FY24 H1 FY25 H1 Increasing/ Decreasing rate 44 45 ＋3.9％ FY25FY24 USD 155.9 149.4 152.4 152.6 144.6 147.5 EUR 167.9 164.0 162.6 160.5 163.8 172.3 CNY 21.5 20.8 21.2 21.0 20.0 20.6 *For FY24 and FY25 through August, equity method investment gains/losses for the Steering Business have been reclassified from the Automotive Business to the Steering Business. 100.5 98.7 101.1 101.5 98.9 102.4 2.9 3.5 2.0 6.4 3.3 5.5 -2 3 8 13 18 -13 7 27 47 67 87 107 127 1Q 2Q 3Q 4Q 1Q 2Q ■Sales ■O.I. ● O.I.(%) 2.9% 3.6% 1.9% 6.3% 3.4% 5.4% (-4.3) (+3.2％) (Billions of yen) (Forex Impact) (Excl. Forex Impact)
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Copyright NSK Ltd. All Rights Reserved. FY2025 H1 Sales by Customer Region 10 30.7 28.9 27.5 18.2 18.5 16.0 3.3 3.5 3.5 52.2 50.9 47.0 FY23 FY24 FY25 28.6 29.6 28.1 25.2 25.9 27.6 1.0 0.9 1.0 54.8 56.4 56.7 FY23 FY24 FY25 42.0 51.6 53.6 31.2 31.2 33.3 1.8 2.3 2.3 75.0 85.1 89.3 FY23 FY24 FY25 Europe Other Asia ・Increase in Automotive sales in India China 29.4 30.9 31.5 38.7 44.2 45.5 0.2 0.3 0.1 68.4 75.3 77.1 FY23 FY24 FY25 Americas 40.3 39.5 40 85.8 79.5 78.8 10.2 11 8.2 136.3 129.9 127.0 FY23 FY24 FY25 Japan Japan: Automotive and Industrial flat Americas: Continued robust demand Europe: Continued stagnation in both Industrial and Automotive China: Economic stimulus drove higher sales 1H 1H 1H 1H 1H 1H 1H 1H 1H 1H 1H 1H1H 1H 1H Forex Rate FY23 1H FY24 1H FY25 1H 1USD 141.0 152.6 146.0 1EUR 153.4 165.9 168.1 1CNY 19.8 21.2 20.3 ※ Region breakdown graphs exclude the below numbers from the Steering Business. Steering Business Japan 4.3 Americas 4.2 Europe 4.3 China 1.7 Other Asia 6.0 (Billions of yen) ■■Industrial Machinery ■■Automotive ■■Other
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Copyright NSK Ltd. All Rights Reserved. Consolidated Business Forecast for the Year Ending March 31, 2026
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Copyright NSK Ltd. All Rights Reserved. Business Environment ✓ Assume that a recovery in volume will stagnate amid an uncertain economic environment due to the impact of US tariffs and other factors. ✓ Gradual pace of recovery in Industrial volume. ✓ Global vehicle production volume expected to be flat in H2. ✓ Weaker yen than assumed in May. US Tariff Policy ✓ Anticipated cost increase of ¥12 billion in FY2025 - Japan 24%, Mexico 25%, China 100%～; - Mutual tariffs suspended for 90 days ✓ Cost increases resulting from tariff policies will be fully passed on to sales prices ✓ Revised Q1 (July) forecast impact from 9 billion to ¥11 billion. (Reflected impact of U.S Section 232 steel/aluminum tariffs and impact of Steering Business consolidation) ✓ Continue policy of transferring increasing costs to sales prices. Structural Reforms ✓ Labor force reduction of 1000 primarily in Europe (FY24: 600, FY25: 400) ✓ Realized impact: +¥4.4 bn vs FY23 One-time expenses: -¥6.5 bn ✓ Progress in line with plan; completed 250 out of 400 planned for FY25. ✓ Realized impact: +¥2.0 bn (H2 +¥2.5 bn ) ✓ One-time expenses: -¥0.6 bn (H2 +¥5.9 bn ) Business Environment Outlook for Full Year Forecast 12 Forecast Assumptions (May 2025) ✓ Sales volume is expected to remain flat year-on-year as per previous assumption. ✓ Quick response to U.S. tariff policies. Structural reforms progressing according to plan. ✓ Monitoring supply chain risks stemming from rare earth export restrictions and semiconductor shortages. Current Status as of Q2 (November)
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Copyright NSK Ltd. All Rights Reserved. FY2025 Vs. May Forecast FY2024 YoY (Billions of yen) Forecast as of May Revised Forecast Increase/ Decrease Difference Full year Actual Increase/ Decrease Difference Sales 760.0 885.0 +125.0 16.4% 796.7 +88.3 11.1% Operating income 22.0 30.0 +8.0 36.4% 28.5 +1.5 5.4% （%） 2.9% 3.4% 3.6% excluding one-time expenses 30.5 37.6 +7.1 23.2% 36.4 +1.2 3.3% （%） 4.0% 4.2% 4.6% Income before income taxes 19.0 29.0 +10.0 52.6% 25.1 +3.9 15.5% Net income attributable to owners of the parent 7.0 16.0 +9.0 128.6% 10.6 +5.4 50.3% (Ex. rate: 1USD=) 135.0 143.0 +8.0 +5.9% 152.6 -9.6 -6.3% ( 〃 1EUR=) 155.0 164.0 +9.0 +5.8% 163.7 +0.3 +0.2% ( 〃 1CNY=) 19.0 20.2 +1.2 +6.3% 21.1 -0.9 -4.3% Continuing operations Continuing and discontinued operations ✓ Revised forecast to reflect Steering Business consolidation and changes in the business environment. (H2 Forex Rate Assumption: USD ¥140, EUR ¥160, CNY ¥20) ✓ Tariff impact factored into forecast with a timing gap in transfer of cost to sales prices ✓ Supply chain risk stemming from rare earth export restrictions and semiconductor shortages are not reflected in the forecast. Consolidated Business Forecast for the Year Ending March 31, 2026 (FY2025) 13 *1 OI Excl. One-Time Expenses: Refers to Operating Income excluding transient factors such as forex impact and one-time expenses for structural reforms and steering business consolidation. *2 FY25 results do not include discontinued operations; only continuing operations are included. (Forex Impact) (Forex Impact) (-20.0) (-4.5) (-4.5) (+20.0) (+4.5) (+4.5)*1 *2
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Copyright NSK Ltd. All Rights Reserved. FY2025 Vs. May Forecast FY2024 YoY (Billions of yen) Forecast as of May Revised Forecast Increase/ Decrease Difference Full year Actual Increase/ Decrease Difference Sales Total 760.0 885.0 +125.0 +16.4% 796.7 88.3 +11.1% Excluding Steering Business 760.0 795.0 +35.0 +4.6% 796.7 -1.7 -0.2% Industrial Machinery Business 352.0 367.0 +15.0 +4.3% 361.5 5.5 +1.5% Automotive Business 380.0 399.0 +19.0 +5.0% 401.7 -2.7 -0.7% Others 54.5 55.5 +1.0 +1.8% 63.0 -7.5 -11.9% Eliminations (sales) -26.5 -26.5 +0.0 - -29.5 3.0 - Steering Business - 90.0 +90.0 - - 90.0 - Operating Income Total 22.0 30.0 +8.0 +36.4% 28.5 1.5 +5.4% （%） 2.9% 3.4% 3.6% Excluding Steering Business 22.0 26.5 +4.5 +20.5% 27.1 -0.6 -2.1% 2.9% 3.3% 3.4% Industrial Machinery Business 13.5 13.0 -0.5 -3.7% 13.9 -0.9 -6.8% 3.8% 3.5% 3.9% Automotive Business 10.0 15.5 +5.5 +55.0% 14.7 0.8 +5.4% 2.6% 3.9% 3.7% Others 0.5 0.0 -0.5 -100.3% 2.3 -2.3 -100.1% 0.9% 0.0% 3.6% Other operating income and expenses /Adjustments -2.0 -2.0 -0.0 - -3.8 1.9 - Steering Business - 3.5 +3.5 - 1.4 2.1 +153.2% - 3.9% - Reference: Breakdown by Segment – Consolidated Business Forecast for FY2025 14 * The revised forecast includes seven months of Steering Business sales from September 2025 to March 2026. This includes the equity method affiliate gains/losses incurred from April to August. * *
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Copyright NSK Ltd. All Rights Reserved. (Billions of yen) FY2025 Forecast as of May FY2025 Revised Forecast Increase/ Decrease YOY Difference YOY FY2025 H1 Forecast FY2025 H2 Forecast Sales 380.0 399.0 +19.0 +5.0% 201.2 197.8 Operating income 10.0 15.5 +5.5 +55.0% 8.9 6.6 （%） 2.6% 3.9% 4.4% 3.4% excluding one- time expenses 13.3 19.0 +5.7 +42.9% 8.9 10.1 （%） 3.5% 4.8% 4.4% 5.1% (Billions of yen) FY2025 Forecast as of May FY2025 Revised Forecast Increase/ Decrease YOY Difference YOY FY2025 H1 Forecast FY2025 H2 Forecast Sales 352.0 367.0 +15.0 +4.3% 180.8 186.2 Industrial Machinery Bearings 301.0 311.0 +10.0 +3.3% 153.3 157.7 Precision Machinery and Parts 51.0 56.0 +5.0 +9.8% 27.5 28.5 Operating income 13.5 13.0 -0.5 -3.7% 4.9 8.1 （%） 3.8% 3.5% 2.7% 4.4% excluding one- time expenses 15.5 14.8 -0.7 -4.3% 5.5 9.3 （%） 4.4% 4.0% 3.1% 5.0% FY25 H1 vs FY24 H2 FY25 H2 vs FY25 H1 Aftermarket ↓ → Home Appliances ↑ ↓ Automotive ↓ → Robotics → → Wind power ↑ ↓ Railway → → Machine tools ↑ → Semiconductor ↓ → Breakdown by Segment – Consolidated Business Forecast for FY2025 15 Industrial Machinery Business Trend in Major Sectors (NSK forecast)E&EOEM● ● ・Full-year forecast exceeds initial projections. ・While restructuring costs will be recorded in the second half, excluding one-time expenses, we expect to achieve profit growth. Automotive Business Global Vehicle Production （million, NSK forecast） 90 FY2025 H1 44 H2 46 May Forecast Revised Forecast 90 FY2025 H1 45 H2 45 ● ・Overall demand conditions are largely as initially anticipated, though AM-related demand has been weaker than expected while machine tool demand has been stronger ・We are advancing efforts to expand sales and improve profitability and expect both sales and profits to increase in the second half compared to the first half.
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Copyright NSK Ltd. All Rights Reserved. ✓ Structural reforms progressing largely as planned ✓ Progress as planned in transfer of US tariff costs to sales prices. ✓ Weaker yen than May forecast assumption. Forex Rate Assumption: Original USD ¥135 > Revised USD ¥ 140 +15 Inflation/ Labor cost increase/ Impact of tariffs One-Time Expenses Profitability improvement Forex impact Inflation/ Labor cost increase/ Impact of tariffs Structural reforms results Volume/MIX Revised Forecast (Billions of yen) 0 FY2024 Result FY2025 Revised Forecast Operating Income: Factors Behind Change (FY2024 Result ⇒ FY2025 Full Year Forecast) 16 -47 SG&A, Other Portfolio transformation Sales price improvement Cost reductions Productivity improvement +3.9 +1.5 +2.5 +6.9 Profitability ＋62 FY2025 May Forecast Forex impact Steering US Tariffs (Net sales price - cost increase) Volume/Mix +4.5 -1.0 +3.5 Structural reforms costs FY2024 FY2025 -4.6 -6.5 +1.0
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Copyright NSK Ltd. All Rights Reserved. Mid-Term Management Plan (MTP2026) Initiatives FY2025 Plans and Progress
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Copyright NSK Ltd. All Rights Reserved. FY2024 Result FY2025 FY2026 FY2027 One-time expenses ¥4.6 bn ¥6.5 bn ¥1.5 bn ¥1.0 bn Realized Impact VS. FY2023 ¥1.1 bn ¥5.5 bn ¥9.0 bn ¥11.0 bn 18 FY24：600 complete Production Reorganization ・Europe: Streamlining production models, utilizing overseas procurement for upstream processes, reducing production capacity, reviewing production sites and sales structure. ・Japan: Reorganizing ICE product manufacturing, reviewing product mix, consolidation of industrial machinery sales branches ・Americas: Reorganizing ICE product manufacturing, strengthening AM supply capabilities, closing steel ball plant ・China: Streamlining production models, Promoting transfer of production equipment (to capture growth in India) ✓ Continuing structural reforms centered on Europe. Aiming to enhance profitability. Progress in Structural Reforms Personnel Reduction of 1,000 personnel FY25：400 planned H1 progress: 250 complete Currently reviewing goals as we create the next mid-term management plan
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Copyright NSK Ltd. All Rights Reserved. ✓ Completion of structural reforms centered on Europe ✓ Continue response to U.S. Tariff Policies ✓ Search for strategic partners in the Steering Business ✓ Improve profitability through portfolio transformation ・Sales expansion initiatives for Aftermarket, Precision, and CMS ・Sales expansion of EV products to non-Japanese customers 19 Key Initiatives for the Second Half of FY2025 Formulate a new Mid-Term Management Plan to enhance ROE (Publish in May 2026)
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Copyright NSK Ltd. All Rights Reserved. H1 Actual H2 Forecast Full year Forecast Sales 15.2 74.8 90.0 O.I. *3.0 0.5 3.5 152.9 160.3 the Consolidation of the Steering Business as a Subsidiary 20 ✓ Improved profitability through structural reforms and initiatives as an equity-method affiliate with JIS. ✓ Reverted to consolidated subsidiary in FY2025. Aim to continue improvement of sales and profitability growth and search for strategic partners. FY2025 Sales *Non-recurring gains/losses included in FY2025 H1 result - Gain on Bargain purchase +7.3bn - Loss on step acquisition -4.7bn - Temporary gains and losses -1.2bn Total +1.4bn Operating income (excluding above factors) 1.6bn FY22 FY24 Initiated Structural Reforms Returned to profitability Sales 180～190 O.I. 3％～4％ （Billions yen） ~ FY28 Converted to an equity-method affiliate with JIS Operating loss （Billion yen）
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Copyright NSK Ltd. All Rights Reserved. Integrate advanced AI and robotics technologies with tribology, analytical techniques, and product engineering to develop and deliver high value-added robotic products and services. Reducers for tactile transmission devices in service robots, such as the Bilateral Gear. Drive units enabling smooth omnidirectional movement, such as the active caster PalGo. Build a robust platform for manufacturing and delivering next- generation AI robots powered by Physical AI Address social challenges such as labor shortages faced by the manufacturing and service industries through AI and robotics technologies towards the goal of realizing a robot-supported society. We will use this opportunity to accelerate and fully commit to our initiatives in the robotics business. Bio EconomyAI & Robotics Regenerative Medicine 21 ✓ Strategic Investment in AI Robotics Company RT Corporation Unit Products & Actuators Solution Components Bearings & Beyond Initiative(1)
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Copyright NSK Ltd. All Rights Reserved. 0 10 20 30 40 50 60 FY2023 FY2025 FY2030 (Millions of unit) 22 Bearings & Beyond Initiative(2) Customer ✓ Initiatives in Condition Monitoring and PLM Business Anticipating further growth as the industry shifts from hydraulic to mechanical systems Achieving predictive maintenance for plants through AI and expert-driven optimization of maintenance, labor-saving, and product quality improvement AI and expert-driven monitoring and improvement proposals ✓ Monitoring of production equipment conditions ✓ Equipment operation NSK Cloud-based servicesNSK Volume & Target Market share expected to exceed 50％ FY2025 Targeting orders of 10 million units, primarily for electric brake applications Total Demand (NSK Estimate) Expansion of plant facilities (scheduled for completion in August 2026) ✓ Strengthening Local Production Capabilities in India’s Growth Market ✓ Sales expansion of ball screws for electric brake systems Phase 1: Transfer of automotive wheel bearing equipment from China. Plan to onboard new customers in the second half of FY2025
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Copyright NSK Ltd. All Rights Reserved. 23 ✓ Japan Mobility Show 2025 (Oct 30 – Nov 9, 2025) Proposing new solutions for “Driving” “Turning” and “Stopping” made possible by NSK Core Technologies. ✓ International Robot Exhibition iREX2025 (Dec 3-6, 2025) Showcasing NSK’s breadth of technical expertise through collaborative development products, unit products, and component displays Security Patrol Robot Exhibition NSK Exhibiting at Leading Trade Shows Pamphlet on near-future mobility technology
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Copyright NSK Ltd. All Rights Reserved. (Supplementary Information)
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Copyright NSK Ltd. All Rights Reserved. 25 ✓ Solid progress toward FY2035 Scope1+2 neutrality goals Enhancing transparency and reliability of initiatives to reduce CO2 Industry-first disclosure of Carbon Footprint of Product (CFP) Calculation Report Further Strengthening of Carbon Neutral Activities Commitment Letter to Initiate SBTi Target Validation Process Creating GHG Emission Reduction Plan Based on SBTi Approach to achieve SBT certification within two years Promoting energy conservation and technological innovation Jointly developed lightweight, waste- reduction packing boxes for large bearings with Sakura Packs Co., Ltd. Carbon Neutral Initiatives
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Copyright NSK Ltd. All Rights Reserved. (Billions of yen) Q1 Q2 H1 H2 Full year Q1 Q2 H1 Increase/ Decrease Difference H2 Full Year Total Sales 200.5 197.1 397.6 399.0 796.7 195.8 216.5 412.3 +14.6 +3.7% 472.7 885.0 Operating Income 5.9 3.8 9.7 18.8 28.5 4.8 11.7 16.5 +6.8 +69.7% 13.5 30.0 (%) 2.9% 1.9% 2.4% 4.7% 3.6% 2.4% 5.4% 4.0% 2.9% 3.4% Sales 200.5 197.1 397.6 399.0 796.7 195.8 201.3 397.1 -0.6 -0.1% 397.9 795.0 Operating Income 5.7 4.8 10.5 16.6 27.1 4.5 8.9 13.5 +3.0 +28.2% 13.0 26.5 Sales 2.8% 2.4% 2.6% (4.2%) 3.4% 2.3% 4.4% 3.4% 3.3% 3.3% Sales 90.5 90.0 180.5 181.0 361.5 89.2 91.6 180.8 +0.3 +0.2% 186.2 367.0 Industrial Machinery Bearings 77.6 76.7 154.3 153.1 307.3 75.9 77.4 153.3 -1.0 -0.7% 157.7 311.0 Precision Machinery and Parts 12.9 13.3 26.2 27.9 54.1 13.3 14.2 27.5 +1.3 +5.0% 28.5 56.0 Operating Income 2.7 2.8 5.5 8.4 13.9 1.6 3.3 4.9 -0.6 -11.2% 8.1 13.0 (%) 3.0% 3.1% 3.0% 4.7% 3.9% 1.8% 3.6% 2.7% 4.4% 3.5% Sales 100.5 98.7 199.1 202.5 401.7 98.9 102.4 201.2 +2.1 +1.0% 197.8 399.0 Operating Income 2.9 3.5 6.4 8.3 14.7 3.3 5.5 8.9 +2.5 +38.4% 6.6 15.5 (%) 2.9% 3.6% 3.2% 4.1% 3.7% 3.4% 5.4% 4.4% 3.4% 3.9% Others Sales 18.6 15.0 33.6 29.4 63.0 15.1 13.1 28.2 -5.4 -16.1% 27.3 55.5 Operating Income 0.8 0.1 0.9 1.3 2.3 0.3 -0.1 0.3 -0.7 -71.4% -0.3 0.0 (%) 4.5% 0.7% 2.8% 4.5% 3.6% 2.3% -0.6% 1.0% -0.9% 0.0% -9.1 -6.5 -15.6 -13.9 -29.5 -7.3 -5.8 -13.2 +2.4 ー -13.4 -26.5 -0.8 -1.6 -2.4 -1.5 -3.8 -0.7 0.2 -0.6 +1.8 ー -1.5 -2.0 Sales - - - - - - 15.2 15.2 +15.2 ー 74.8 90.0 Operating Income 0.2 -1.0 -0.8 2.2 1.4 0.3 2.8 3.0 +3.0 ー 0.5 3.5 Sales - - - - - - 18.2% 19.8% 0.6% 3.9% Steering Business FY2025 YOY FY2025 FY2024 Eliminations (sales) Other operating income and expenses /Adjustments Industrial Machinery Business Automotive Business Excluding Steering Business 26 Supplementary Information : Financial Results by Business Segment (FY2025 H1) *Equity method investment gains/losses related to the Steering business for FY24 and FY25 through August have been reclassified and presented under the Steering Business segment.
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Copyright NSK Ltd. All Rights Reserved. YOY (Billions of yen) Q1 Q2 H1 Q3 Q4 Full year Q1 Q2 H1 Increase/ Decrease Difference Sales 200.5 197.1 397.6 199.3 199.7 796.7 195.8 216.5 412.3 +14.6 +3.7% Japan 64.1 65.8 129.9 66.3 65.1 261.3 62.5 68.9 131.3 +1.4 +1.1% Non-Japan 136.4 131.3 267.7 133.0 134.7 535.4 133.3 147.6 280.9 +13.2 +4.9% (Non-Japan Ratio) 68.0% 66.6% 67.3% 66.8% 67.4% 67.2% 68.1% 68.2% 68.1% The Americas 39.2 36.1 75.3 36.2 38.5 150.0 38.6 42.8 81.4 +6.1 +8.1% Europe 27.1 23.8 50.9 23.0 26.1 100.0 23.8 27.5 51.3 +0.4 +0.8% China 42.0 43.2 85.1 46.4 41.2 172.6 43.2 47.7 91.0 +5.8 +6.9% Other Asia 28.1 28.3 56.4 27.5 29.0 112.8 27.7 29.6 57.3 +0.9 +1.6% Ex. Rate 1USD 155.9 149.4 152.6 152.4 152.6 152.6 144.6 147.5 146.0 -6.6 -4.3% 1EUR 167.9 164.0 165.9 162.6 160.5 163.7 163.8 172.3 168.1 +2.1 +1.3% 1CNY 21.5 20.8 21.2 21.2 21.0 21.1 20.0 20.6 20.3 -0.9 -4.0% FY2025 FY2024 27 Supplementary Information: Sales by Customer Location
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Copyright NSK Ltd. All Rights Reserved. 669.2 680.7 249.1 280.6 301.3 339.7 1,219.5 1,301.1 53.4% 50.9% Asset 582.9 606.6 636.7 694.5 1,219.5 1,301.1+81.5 +57.9 +23.7 +81.5 +31.6 +11.5 +38.4 28 Ex. Rate End of FY2024 End of FY2025 Q2 1USD 149.5 148.9 1EUR 162.0 174.5 1CNY 20.6 20.9 Due in part to the consolidation of the Steering Business as a subsidiary on September 1, 2025, assets and liabilities have increased from the previous fiscal year-end balance. Supplementary Information: Consolidated Balance Sheet Liabilities/ Total equity (Billions of yen) (Billions of yen) Current assets Non-Current assets Current liabilities Non-Current liabilities Ratio of equity attributable to owners of the parent to total assets Total equity End of FY2024 End of FY2025 Q2 End of FY2024 End of FY2025 Q2
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Copyright NSK Ltd. All Rights Reserved. 0.26 0.33 Supplementary Information: Inventories/ Interest-Bearing Dept 4.3 4.2 ＋24.9 ＋5.0 +19.9 +71.7 +11.0 +60.7 29 Ex. Rate End of FY2024 End of FY2025 Q2 1USD 149.5 148.9 1EUR 162.0 174.5 1CNY 20.6 20.9 End of FY2024 End of FY2025 Q2 End of FY2024 End of FY2025 Q2 Inventories Interest-Bearing Dept Due in part to the consolidation of the Steering Business as a subsidiary on September 1, 2025, assets, inventory, and interest- bearing debt have increased from the previous fiscal year-end balances. Inventory turnover Net D/E ratio Non-Japan Japan Japan Non-Japan (Billions of yen) (Billions of yen) 78.6 83.6 107.3 127.2 185.9 210.7 225.0 285.8 81.4 92.3 306.4 378.1
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Copyright NSK Ltd. All Rights Reserved. FY24 FY25 FY25 (Billions of yen) Full year Actual 1Q Actual 2Q Actual Revised full year forecast Original forecast Capital Expenditures 56.5 9.5 7.4 58.0 55.0 Capital Expenditures (excluding lease） 51.0 9.0 7.0 55.0 52.0 Depreciation and Amortisation 52.4 12.7 13.4 54.0 50.0 Depreciation and Amortisation (excluding lease） 47.6 11.6 12.3 49.0 45.0 R&D Expenses (on a managerial basis) 27.5 7.0 8.1 35.0 29.0 R&D Expenses (on a statutory basis) 16.3 3.6 4.3 18.0 17.0 30 Supplementary Information : Capital Expenditures, Depreciation and Amortization, R&D Expenses Due to the consolidation of the Steering Business as a subsidiary on September 1, 2025, we are revising our full-year forecasts for capital expenditures and other items.
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Copyright NSK Ltd. All Rights Reserved. NSK contributes to a safer, smoother society and helps protect the global environment through its innovative technology integrating Motion & ControlTM. As a truly international enterprise, we are working across national boundaries to improve relationships between people throughout the world. Mission Statement NSK Vision 2026 SETTING THE FUTURE IN MOTION We bring motion to life, to enrich lifestyles, and to build a brighter future. Dedicated to uncovering society's needs, we set ideas in motion, to deliver solutions beyond imagination. We're NSK. And, we're setting the future in motion.