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©2026 NTN Corporation Consolidated Financial Results for the First Quarter of FY2026 August 4, 2026 NTN Corporation
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©2026 NTN Corporation 2 1. Key Point of Financial Results FY2026 Q1 No change from the previous announcement Net Sales : ¥810.0 billion, Operating income : ¥33.0 billion, Operating margin 4.1% Net Sales ： ¥212.3 billion, ¥(13.2) billion YoY incl. Aftermarket ¥39.6 billion, +¥4.4 billion YoY Aftermarket sales ratio increased from 18% to 19% Operating income ：¥8.3 billion, +¥1.3 billion YoY Operating margin ：3.9%, +0.4pt YoY Bearing and others Net sales ¥90.0 billion, Operating income ¥3.0 billion, Operating margin 3.3% Sales and operating income increased YoY • Sales increased, reflecting steady demand for the industrial machinery and automobile, a gradual recovery in the aftermarket business, and favorable foreign exchange effects from yen depreciation • Operating income increased due to selling price improvements and the effects of structural reforms CVJ/Axle Net sales ¥122.3 billion, Operating income ¥5.3billion, Operating margin 4.4% Sales and operating income increased YoY • Sales increased due to favorable foreign exchange effects, despite weaker demand from Japanese automakers in China and the completion of mass-production programs in the Americas and Europe • Operating income increased, driven by selling price improvements, lower variable costs through procurement reforms, and the effects of structural reforms Forecast for FY2026 Full Year Business integration with NSK Ltd. • Due diligence is currently underway based on the MOU (signed on May 12, 2026). The final agreement is scheduled to be signed approximately six months after the signing of the MOU. • Following the Annual General Meeting of Shareholders in June 2027 (resolution to approve the share transfer), the company aims to establish a joint holding company in October 2027.
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©2026 NTN Corporation 3 2. Key Financial Indicators of FY2026 Q1 Full Year Q1 Full Year Results Results Results Forecast (billion yen) ① ② (Latest) Total Volume Forex 199.0 826.3 212.3 810.0 13.2 (3.0) 16.3 7.0 31.0 8.3 33.0 1.3 0.9 0.5 3.5% 3.8% 3.9% 4.1% 0.4pt 4.0 23.5 6.4 21.0 2.3 2.0 0.3 - (8.3) (0.9) 6.0 (0.9) (0.8) (0.1) 1.2 12.9 1.9 15.0 0.7 0.8 (0.0) 243.9 245.9 245.6 220.0 (0.2) (2.4) 2.1 10.8 30.9 14.7 36.0 3.9 - - 1USD ¥144.6 ¥150.7 ¥159.3 ¥152.3 ¥14.7 1EURO ¥163.8 ¥174.7 ¥185.3 ¥177.6 ¥21.5 ¥13.0 (Interim \6.5 / Year-end \6.5) Ordinary income FY2025 FY2026 Diff. ②-① Net sales Operating income Operating margin FY2026 Annual Dividend Extraordinary income (loss) Profit (loss) attributable to owners of parent Inventories FCF Exchange rate * *Increase/decrease from the end of Mar.2026
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©2026 NTN Corporation 【パワーポイントの変動費の内訳】 鋼材は原低・原高でネットする。ネットした金額がプラスの場合は原低に含め、マイナスの場合は原高他に含める。 2602IRよりこの考え方にする。 +1.3 Negative factors (3.4) Positive factors 4.8 FY2025 Q1 [Results] Operating income 7.0 FY2026 Q1 [Results] Operating income 8.3 Sales price level +1.9 Decrease in variable costs +1.3 Structural reform effects +1.1 Exchange rates +0.5 Scale effects, etc. (1.5) Increase in personnel costs and expenses (1.2) Tariff impact (0.6) 4 3. Analysis of Operating Income [ FY2025 Q1 Results vs FY2026 Q1 Results ] Forex Sales price Passing on tariffs Volume Net Sales 199.0 212.3 13.2 16.3 1.9 1.1 (6.0) Diff.FY2025 Q1 Results FY2026 Q1 Results Cost reduction +2.3 Cost increase, etc. (1.0) Personnel costs (1.4) Expenses etc. +0.2 Passing-on to selling price +1.1 FY2025Q1 : +0.2 FY2026Q1 : +1.3 Cost impact (1.7) FY2025Q1 : (0.6) FY2026Q1 : (2.3) *All figures in billion yen
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©2026 NTN Corporation 5 4. Net Sales by Company Location (Excluding intragroup sales) Q1 Full Year Q1 Full Year Results Results Results Forecast ① ② (Latest) Total Volume Forex Japan 51.8 216.4 53.4 225.5 1.6 1.6 0.0 Americas 64.4 262.5 69.1 250.5 4.7 (2.4) 7.1 Europe 46.3 193.6 50.4 184.5 4.1 (1.5) 5.6 Asia and others 36.5 153.9 39.3 149.5 2.8 (0.7) 3.5 Total 199.0 826.3 212.3 810.0 13.2 (3.0) 16.3 (billion yen) FY2025 FY2026 Diff. ②-①
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©2026 NTN Corporation 6 5. Net Sales and Operating Income by Business Segment Q1 Q1 Full Year Results Results Forecast ① ② (Latest) Total Volume Forex Net Sales Bearing and others 83.0 348.9 90.0 357.0 7.0 0.8 6.2 CVJ/Axle 116.1 477.5 122.3 453.0 6.2 (3.8) 10.1 Total 199.0 826.3 212.3 810.0 13.2 (3.0) 16.3 Operating Bearing and others 2.3 12.3 3.0 14.5 0.7 0.4 0.3 Income % 2.7% 3.5% 3.3% 4.1% 0.6pt CVJ/Axle 4.7 18.8 5.3 18.5 0.6 0.5 0.2 % 4.1% 3.9% 4.4% 4.1% 0.3pt Total 7.0 31.0 8.3 33.0 1.3 0.9 0.5 % 3.5% 3.8% 3.9% 4.1% 0.4pt ②-① (billion yen) FY2025 FY2026 Diff. Full Year Results
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©2026 NTN Corporation 7 6. Financial Results by Business Segment (Quarterly Trend) 0 0 0 0 0 0 0 0 2.3 2.3 2.2 5.5 3.0 4.7 3.6 4.3 6.2 5.3 7.0 5.9 6.4 11.7 8.3 4.1% 3.0% 3.6% 4.9% 4.4% 2.7% 2.7% 2.6% 5.7% 3.3% 0 5 10 15 20 FY2025 FY2026 Q1 Q2 Q3 Q4 Q1 （billion） 83.0 84.7 84.2 97.1 90.0 116.1 118.5 116.9 125.9 122.3 199.0 203.2 201.1 223.0 212.3 0 50 100 150 200 FY2025 FY2026 Q1 Q2 Q3 Q4 Q1 （billion） Net Sales Operating Income/ Operating Margin Bearing and others CVJ/Axle Bearing and others CVJ/Axle FY2025 Q1 Q2 Q3 Q4 FY2026 Q1 35.2 38.4 37.9 42.5 39.6 Incl. for Aftermarket
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©2026 NTN Corporation 8*Net sales and operating income are shown before eliminations of intersegment transactions. Accordingly, the graph totals do not match consolidated net sales and operating income. 7. Net Sales and Operating Income by Company Location (Quarterly Trend) Net Sales Operating Income/ Operating Margin 83.7 89.1 88.6 90.8 86.3 64.6 68.3 61.8 68.9 69.3 47.3 45.2 48.2 56.8 51.4 39.6 41.6 42.0 44.5 42.5 0 50 100 150 200 250 FY2025 FY2026 Q1 Q2 Q3 Q4 Q1 （billion ） 0.5 1.4 4.2 3.1 4.2 1.6 1.4 0.3 2.2 0.5 (0.3) (0.9) (1.1) 1.2 (0.4) 3.8 4.4 4.4 4.9 4.3 0.6% 1.6% 4.7% 3.4% 4.8% 2.5% 2.0% 0.5% 3.2% 0.7% (0.7% ) (1.9%) (2.3%) 2.2% (0.7% ) 9.7% 10.7% 10.5% 11.0% 10.2% (2) 0 2 4 6 8 10 12 14 FY2025 Q1 Q2 Q3 Q4 FY2026 Q1 Asia and othersEuropeAmericasJapanAsia and othersEuropeAmericas Americas Europe Asia and others Japan Japan （billion ）
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©2026 NTN Corporation 9 8. Inventories Mar. 2025 Mar. 2026 Jun. 2026 Mar. 2027 （billion yen） Results Results Results Forecast 244.4 245.9 245.6 220.0 76.0 71.3 74.7 68.0 168.3 174.5 171.0 152.0 3.4 3.4 3.5 3.7Inventory turnover ratio [times] Inventories [Japan] [Overseas] 168.3 174.5 171.0 152.0 76.0 71.3 74.7 68.0 244.4 245.9 245.6 220.0 3.4 3.4 3.5 3.7 0 100 200 300 Mar. 2025 Mar. 2026 Jun. 2026 Mar. 2027 Inventories (billion yen) Japan Overseas Inventory turnover ratio
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©2026 NTN Corporation 10 9. Capital Expenditures and Depreciation FY2026 Diff. FY2026 （billion yen） Q1 Results① Full Year Results Q1 Results② ②-① Full Year Forecast Capital expenditure 5.0 32.5 7.1 2.1 36.0 [Japan] 1.5 13.3 4.0 2.6 20.0 [Overseas] 3.6 19.2 3.1 (0.4) 16.0 Depreciation 9.9 40.5 9.9 (0.0) 39.0 [Japan] 4.1 16.3 4.0 (0.1) 17.0 [Overseas] 5.8 24.2 5.9 0.1 22.0 FY2025 * 19.2 24.2 13.3 16.332.5 40.5 FY2025 Full Year 0 10 20 1 0 30 60 1 3.6 5.8 1.5 4.1 5.0 9.9 FY2025 Q1 16.0 22.0 20.0 17.0 36.0 39.0 FY2026 Full Year Forecast 3.1 5.9 4.0 4.07.1 9.9 FY2026 Q1 （Full year） *In addition, capital expenditure for intangible fixed assets (FY2026 Q1 Results : ¥0.8 billion, FY2026 Full Year Forecast : ¥4.5 billion) （billion yen） Depreciation （Overseas） Investment （Overseas） Depreciation （Japan） Investment (Japan) （Quarter）
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©2026 NTN Corporation 11 10. Interest - Bearing Debt Mar. 2025 Mar. 2026 Jun. 2026 Mar. 2027 （billion yen） Results Results Results Forecast 354.0 319.2 302.4 300.0 293.6 255.2 246.5 250.0 60.4 64.0 55.9 50.0 226.3 187.9 177.2 163.7Net Interest-bearing debt Interest-bearing debt [Japan] [Overseas] 60.4 64.0 55.9 50.0 293.6 255.2 246.5 250.0 354.0 319.2 302.4 300.0 1.0 0.6 0.6 0.6 0.8 0.5 0.5 0.5 0 200 400 600 Mar. 2025 Mar. 2026 Jun. 2026 Mar. 2027 Interest-bearing debt (billion yen） Japan Overseas Net D/E ratio Net D/E ratio(adjusted)* *Taking into account a part of the subordinated bonds through public offering that is recognized as equity (50%).
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©2026 NTN Corporation 12 11. Cash Flows FY2026 (billion yen) Q1 Results① Full Year Results Q1 Results② Full Year Forecast Ⅰ．Cash flow from operating activities Ⅱ．Cash flow from investing activities Ⅲ．Cash flow from financing activities Ⅳ．Effect of exchanging rate translation on cash and cash equivalents Ⅴ．Net increase in cash and cash equivalents 1.7 (4.0) (15.2) 5.0 3.9 36.030.9 14.7 3.5 (6.1)9.1 8.0 1.3 (20.7) (27.0) (0.3) (35.3) (22.1)(1.4) Ⅰ+Ⅱ．Free cash flow 10.8 (4.0) (27.0)(26.3) (11.8)(7.8) 57.2 26.5 FY2025 ②-① 18.6 7.9 63.0 FY2026 18.6 57.2 26.5 63.0 (7.8) (26.3) (11.8) (27.0) 10.8 30.9 14.7 36.0 (50) (20) 10 40 70 FY2025 Q1 FY2025 FY2026 Q1 FY2026 Forecast Operating CF Investing CF FCF
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©2026 NTN Corporation 13 • This presentation and comments made in this conference or during the following Q&A session include forward-looking statements about future performance and future business strategies, all of which are based on decisions of the management of the Company currently available. • These statements represent the best judgment of the management of the Company based on the information currently available. However, there can be no assurance that future results will meet any expectation, estimate or projection conveyed by these statements or comments. Actual results may differ materially from Management projections depending on various factors such as changes in product demand, exchange rates and interest rates, and contingent liabilities.