Nsk Ltd. · TSE:6471
Nsk — H1 FY2026 Earnings Presentation
25 slides from Nsk's earnings presentation, Oct 30, 2026
Slide 1: FY2026 Q2 Results
FY2026 Q2 Results Consolidated Financial Results for the First Half Ended September 30, 2026 This material contains forward-looking statements based on information available at the time of preparation. October 30, 2026 Actual results may differ materially from those projected as a result of various
Slide 2: Contents
Contents 1. FY2026 H1 Results 2. FY2026 Full-year Forecast 3. Initiatives to Enhance Corporate Value over the Medium to Long Term (Supplementary Information) Copyright NSK Ltd. All Rights Reserved.
Slide 3: FY2026 H1 Results
FY2026 H1 Results Copyright NSK Ltd. All Rights Reserved.
Slide 4: Performance Highlights
Performance Highlights ✓ Sales and profits increased YoY, supported by business reforms, profitability improvements, and AI-driven demand recovery in Industrial Machinery. Weaker yen also contributed to higher profits. YoY FY2026 YoY Steering Business H1 Sales 520.4bn +108.1bn (+73.5bn) Results Oper
Slide 5: FY2026 H1 Summary
FY2026 H1 Summary ✓ Sales and profits increased YoY. Decline in Automotive sales offset by higher sales in Industrial Machinery Business and weaker yen. ✓ Profits driven by higher sales in Industrial Machinery, operational improvements including effects of restructuring, and weaker yen. ✓ Progress r
Slide 6: Operating Income: Factors Behind Change (FY2025 H1 to FY2026 H1)
Operating Income: Factors Behind Change (FY2025 H1 ⇒ FY2026 H1) ✓ Profits increased YoY driven by higher sales in the Industrial Machinery business, operational improvements including the effects of restructuring, and the impact of the weaker yen. (Billions of yen) ✓ Cost increases from U.S. tariffs
Slide 7: FY2026 H1 Results of Industrial Machinery Business
FY2026 H1 Results of Industrial Machinery Business FY2026 H1 results: Sales increased 10.0% excluding forex impact. ・Industrial Bearings: Sales increased mainly in machine tools in Japan and China. ・Precision Products: Sales increased in semiconductor manufacturing equipment and machine tools in Jap
Slide 8: FY2026 H1 Results of Automotive Business
FY2026 H1 Results of Automotive Business FY2026 H1 results: Sales decreased 5.8% excluding forex impact. ・Bearings: Sales decreased in Europe and China, while sales expansion of focus area products, including ball screws for electric brakes, remained on track. Despite a year-on-year decrease in sale
Slide 9: FY2026 H1 Sales by Customer Region (Excl. Steering Business)
FY2026 H1 Sales by Customer Region (Excl. Steering Business) Japan: Sales increased driven by demand for semiconductor manufacturing equipment and machine tools. Americas: Sales increased driven by business growth (independent of forex and tariff-related impact). Europe: Sales remained sluggish in b
Slide 10: FY2026 Full-year Forecast
FY2026 Full-year Forecast Copyright NSK Ltd. All Rights Reserved.
Slide 11: Business Environment Outlook for Full-Year Forecast
Business Environment Outlook for Full-Year Forecast Forecast Assumptions (July) Current Status as of H1 (Oct.) ✓ Despite some fluctuations, exchange rates have remained generally in line with July forecast. Forex rate ✓ From Q2 onward: USD ¥155, EUR ¥180, CNY ¥22.5 ✓ Exchange rate assumptions for H2
Slide 12: FY2026 Forecast
FY2026 Forecast ✓ FY2026 full-year forecast revised upward to reflect FY2026 H1 results and demand trends in the Industrial Machinery business. H2 exchange rate assumptions: USD ¥155, EUR ¥175, CNY ¥22.5 FY2026 Full Year Forecast YoY FY2025 YoY Increase/ Increase/ Decrease Difference Full Year Decre
Slide 13: Operating Income: Factors Behind Change (FY2025 Result to FY2026 Forecast)
Operating Income: Factors Behind Change (FY2025 Result ⇒ FY2026 Forecast) ✓ Operating income: +¥6.0 billion vs. the July forecast (¥50.0bn→ ¥56.0bn) (Billions of yen) Volume/Mix: +¥4.0bn Forex impact: +¥1.0bn Profitability＋5.5 One-time cost (Steering business) Steering Business: +¥1.0bn Structure re
Slide 14: Breakdown by Segment–Consolidated Business Forecast for FY2026
Breakdown by Segment–Consolidated Business Forecast for FY2026 Trend in Major Sectors (NSK forecast) Industrial Machinery Business FY2026 vs July Forecast FY2026 ↑： Revised from July FY2026 H1 FY2026 H2 Vs FY2025 H2 vs FY2026 H1 Full year Full year Increase/ H1 H2 Forecast Revised Decrease Differenc
Slide 15: Initiatives to Enhance Corporate Value over the Medium to Long Term
Initiatives to Enhance Corporate Value over the Medium to Long Term Copyright NSK Ltd. All Rights Reserved.
Slide 16: Roadmap to Achieve Mid-Term Management Plan 2028 Operating Income Target
Roadmap to Achieve Mid-Term Management Plan 2028 Operating Income Target of ¥75.0bn ✓ On track to achieve ¥27.0bn in non-sales-volume improvement. ¥5.5bn expected in FY2026. Steady progress toward target. Mid-Term Management Plan 2028: Profitability Improvement Roadmap FY2026 FY2027 FY2028 Portfolio
Slide 17: "Beyond" Initiatives Aimed at Achieving "NSK Vision 2036"
“Beyond” Initiatives Aimed at Achieving “NSK Vision 2036” ✓ Stronger profit structure through FY28 enables investment in future growth engines “Beyond”. Progress in Robotics Business ■Business Establish business focused on the growing Signed an MOU for strategic partnership with ATOM Corporation. ro
Slide 18: Supplementary Information
Supplementary Information Copyright NSK Ltd. All Rights Reserved.
Slide 19: NSK Products Play a Vital Role as AI Investment Expands
Supplementary Information: NSK products used NSK Products Play a Vital Role as AI Investment Expands ✓ Expansion of AI investment is driving demand for NSK’s industrial machinery products. Bearings Ball screws Linear guides CMS Expansion of investment in data centers Power generation equipment / Inf
Slide 20: Financial Results by Business Segment
Supplementary Information: Financial Results by Business Segment FY2025 Actual FY2026 YoY Full Actual Full (Billions of yen) Q1 Q2 H1 Q3 Q4 H2 Q2 H1 Increase/ Difference H2 Year Q1 Decrease Year Total Sales 195.8 216.5 412.3 246.2 253.2 499.4 911.6 255.6 264.7 520.4 +108.1 +26.2% 529.6 1,050.0 Opera
Slide 21: Sales by Customer Location
Supplementary Information: Sales by Customer Location FY2025 Actual FY2026 Actual YOY Increase/ (Billions of yen) Q1 Q2 H1 Q3 Q4 Full year Q1 Q2 H1 Difference Decrease Sales 195.8 216.5 412.3 246.2 253.2 911.6 255.6 264.7 520.4 +108.1 +26.2% Japan 62.5 68.9 131.3 77.7 77.9 286.9 77.7 79.4 157.1 +25.
Slide 22: Consolidated Balance Sheet
Supplementary Information: Consolidated Balance Sheet End of End of Ex. Rate FY2025 FY2026 Q2 1USD 159.9 157.3 1EUR 183.4 178.3 1CNY 23.1 23.5 Asset Liabilities/ Total equity (Billions of yen) (Billions of yen) +39.6 1,279.4 1,279.4 1,239.8 1,239.8 +39.6 Current 321.5 283.5 ＋38.0 liabilities Current
Slide 23: Inventories/ Interest-Bearing Debt
Supplementary Information: Inventories/ Interest-Bearing Debt Ex Rate End of End of FY2025 FY2026 Q2 1USD 159.9 157.3 1EUR 183.4 178.3 1CNY 23.1 23.5 Inventories Interest-Bearing Debt (Billions of yen) Inventory turnover (Billions of yen) 4.8 0.24 Net D/E ratio 0.24 4.8 216.2 -0.1 216.1 +15.9 316.8
Slide 24: Capital Expenditures, Depreciation and Amortization, R&D Expenses
Supplementary Information : Capital Expenditures, Depreciation and Amortization, R&D Expenses FY2025 FY2026 Full year Full year (Billions of yen) Q1 Actual Q2 Actual Actual Forecast Capital Expenditure 51.9 9.4 12.2 60.0 Capital Expenditure (Excl. lease) 47.2 8.8 10.0 55.0 Depreciation and Amortizat
Slide 25: NSK Vision 2036: Creating Ideal Motion with Tribology Solutions Beyond
NSK’s Vision for the Future / Aspirations: “NSK Vision 2036” To bring the “digital ideal motion” to life, NSK will continue to play a vital role as a piece of the puzzle that the world needs. NSK Corporate Philosophy We aim to expand beyond being NSK contributes to a safer, a business focused on smo