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Social and
Environmental Report |
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News Release |
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News Release
September 19,2002
NSK Ltd.
Public Relations Department
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Re-Organization(Spin Off) of the Precision Machinery Business and Steering Business |
Effective October 1, 2002, NSK Ltd. will reorganize ("spin-off") its precision machinery business and steering column businesses into separate corporate entities within the NSK Group of companies
- Re-organization (Spinning Off) of the precision machinery business
| Company Name |
NSK Precision Co., Ltd. |
| Form of "Spin Off" |
Separate legal entity |
| Location |
Shinagawa-ku, Tokyo (Head Office)
Maebashi, Gunma Prefecture (Plant)
Hanyu, Saitama Prefecture (Plant)
Fujisawa, Kanagawa Prefecture (Plant) |
| Businesses |
Design, development, production and marketing of precision machinery products. |
| Capital |
¥10 Billion |
| Representative |
Shuichi Kobayashi-President and CEO
(Post held concurrently - NSK Ltd. Vice-President) |
| Sales (Expected) |
Approximately ¥35 Billion on a domestic consolidated basis for fiscal year ending March 2004. |
| Purpose of "Spin Off" |
- Speed up the decision-making process
- Create a business structure that can adjust to changing market demands
- Consolidate and expand NSK's global precision machinery business.
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- Re-organization (Spin Off) of the steering business
| Company Name |
NSK Steering Systems Co. Ltd. (NSSH)
(Formed in April 2001 for design, development and production of EPS systems.) |
| Method |
Steering business, primarily steering column and joints will be absorbed into NSSH. |
| Location |
Shinagawa-ku, Tokyo (Head Office)
Maebashi, Gunma Prefecture (Plant) |
| Purpose |
Design, develop and produce EPS systems (existing business)
Design and development of other steering systems (business to be absorbed this time) |
| Capital |
¥7.5 Billion |
| Representative |
Masao Shoji - President and Chief Executive Officer
(Post held concurrently - NSK Ltd. Senior Vice Pres.) |
| Sales (Expected) |
Approximately ¥45 Billion on a domestic consolidated basis for fiscal year ending March 2004. |
| Purpose of "Spin Off" |
- Integrate and strengthen EPS and steering system technological base.
- Allow formulation of a global business strategy - design, development, production, marketing and sales.
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