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Home | Investors | Financial information

Financial Information: Annual Report 2003


Notes to Consolidated Financial Statements
NSK Ltd. and Subsidiaries
For the year ended March 31, 2003
18. Segment Information

(a) Business Segment Information

 The Company and its subsidiaries are primarily engaged in the manufacture and sales of products in the bearings segment, the automotive components segment and the precision machinery and parts segment. The main products in each segment are as follows:

  • Bearings segment: which includes standard ball bearings, miniature and small-sized ball bearings, roller bearings, wheel hub unit bearings, needle bearings;
  • Automotive components segment: which includes steering columns, electric power assisted steering systems, automatic transmission components, seat belts;
  • Precision machinery and parts segment: which includes ball screws, linear guides, XY tables, and Megatorque Motors; and
  • Other segment: which includes plant and equipment and other products.
Millions of yen
For the year ended March 31, 2003 Bearings Automotive
components		 Precision
machinery
and parts		 Other Total Eliminations
and other		 Consolidated
Sales to third parties ¥321,960 ¥150,663 ¥34,898 ¥15,297 ¥522,820 ¥ - ¥522,820
Intersegment sales and transfers - - - 4,682 4,682 (4,682) -
  Total 321,960 150,663 34,898 19,980 527,502 (4,682) 522,820
Operating expenses 299,817 146,402 41,189 18,854 506,264 (1,291) 504,972
Operating income (loss) ¥22,142 ¥4,260 ¥(6,290) ¥1,126 ¥21,238 ¥(3,391) ¥17,847
Total assets ¥344,101 ¥108,052 ¥53,465 ¥18,457 ¥524,077 ¥69,021 ¥593,098
Depreciation ¥21,245 ¥4,618 ¥3,561 ¥462 ¥29,886 ¥(1,074) ¥28,812
Capital expenditures ¥18,560 ¥4,243 ¥1,018 ¥267 ¥24,089 ¥(710) ¥23,378

Thousands of
U.S. dollars
For the year ended March 31, 2003 Bearings Automotive
components		 Precision
machinery
and parts		 Other Total Eliminations
and other		 Consolidated
Sales to third parties $2,683,000 $1,255,525 $290,817 $127,475 $4,356,833 $ - $4,356,833
Intersegment sales and transfers - - - 39,017 39,017 (39,017) -
  Total 2,683,000 1,255,525 290,817 166,500 4,395,850 (39,017) 4,356,833
Operating expenses 2,498,475 1,220,017 343,242 157,117 4,218,867 (10,758) 4,208,100
Operating income (loss) $184,517 $35,500 $(52,417) $9,383 $176,983 $(28,258) $148,725
Total assets $2,867,508 $900,433 $445,542 $153,808 $4,367,308 $575,175 $4,942,483
Depreciation $177,042 $38,483 $29,675 $3,850 $249,050 $(8,950) $240,100
Capital expenditures $154,667 $35,358 $8,483 $2,225 $200,742 $(5,917) $194,817

Millions of yen
For the year ended March 31, 2002 Bearings Automotive
components		 Precision
machinery
and parts		 Other Total Eliminations
and other		 Consolidated
Sales to third parties ¥302,360 ¥128,168 ¥33,974 ¥16,398 ¥480,902 ¥ - ¥480,902
Intersegment sales and transfers - - - 10,529 10,529 (10,529) -
  Total 302,360 128,168 33,974 26,928 491,432 (10,529) 480,902
Operating expenses 291,075 127,784 39,302 25,123 483,286 (6,331) 476,954
Operating income (loss) ¥11,285 ¥383 ¥(5,328) ¥1,805 ¥8,145 ¥(4,198) ¥3,947
Total assets ¥349,890 ¥103,790 ¥58,798 ¥22,746 ¥535,226 ¥107,596 ¥642,823
Depreciation ¥20,160 ¥4,264 ¥3,789 ¥326 ¥28,541 ¥(1,005) ¥27,536
Capital expenditures ¥28,312 ¥4,586 ¥5,350 ¥105 ¥38,355 ¥(1,285) ¥37,070

(b) Geographical Segment Information

 The geographical segment information for the Company and its subsidiaries for the years ended March 31, 2003 and 2002 is summarized as follows:

Millions of yen
For the year ended March 31, 2003 Japan The Americas Europe Asia Total Eliminations
and other		 Consolidated
Sales to third parties ¥319,465 ¥77,083 ¥81,483 ¥44,786 ¥522,820 ¥ - ¥522,820
Interarea sales and transfers 76,069 302 3,517 12,715 92,605 (92,605) -
  Total 395,535 77,386 85,001 57,502 615,425 (92,605) 522,820
Operating expenses 378,368 75,387 87,352 52,960 594,068 (89,095) 504,972
Operating income (loss) ¥17,167 ¥1,999 ¥(2,351) ¥4,541 ¥21,357 ¥(3,510) ¥17,847
Total assets ¥517,116 ¥59,500 ¥76,131 ¥58,971 ¥711,719 ¥(118,620) ¥593,098

Thousands of
U.S. dollars
For the year ended March 31, 2003 Japan The Americas Europe Asia Total Eliminations
and other		 Consolidated
Sales to third parties $2,662,208 $642,358 $679,025 $373,217 $4,356,833 $ - $4,356,833
Interarea sales and transfers 633,908 2,517 29,308 105,958 771,708 (771,708) -
  Total 3,296,125 644,883 708,342 479,183 5,128,542 (771,708) 4,356,833
Operating expenses 3,153,067 628,225 727,933 441,333 4,950,567 (742,458) 4,208,100
Operating income (loss) $143,058 $16,658 $(19,592) $37,842 $177,975 $(29,250) $148,725
Total assets $4,309,300 $495,833 $634,425 $491,425 $5,930,992 $(988,500) $4,942,483

Millions of yen
For the year ended March 31, 2002 Japan The Americas Europe Asia Total Eliminations
and other		 Consolidated
Sales to third parties ¥291,088 ¥73,021 ¥76,472 ¥40,319 ¥480,902 ¥ - ¥480,902
Interarea sales and transfers 75,635 316 3,360 13,439 92,752 (92,752) -
  Total 366,724 73,338 79,833 53,759 573,655 (92,752) 480,902
Operating expenses 358,711 71,373 86,492 50,129 566,707 (89,752) 476,954
Operating income (loss) ¥8,012 ¥1,965 ¥(6,659) ¥3,630 ¥6,948 ¥(3,000) ¥3,947
Total assets ¥501,589 ¥70,769 ¥84,462 ¥61,523 ¥718,345 ¥(75,521) ¥642,823

(c) Overseas Sales

 Overseas sales, which include export sales of the Company and its domestic subsidiaries and sales (other than exports to Japan) of the foreign subsidiaries, for the years ended March 31, 2003 and 2002 are summarized as follows:

Millions of yen
For the year ended March 31, 2003 The Americas Europe Asia Total
Overseas sales ¥81,785 ¥81,418 ¥80,356 ¥243,560
Consolidated net sales       ¥522,820
Thousands of
U.S. dollars
Overseas sales $681,542 $678,483 $669,633 $2,029,667
Consolidated net sales       $4,356,833
         
Overseas sales as a percentage of consolidated net sales 15.6% 15.6% 15.4% 46.6%
Millions of yen
For the year ended March 31, 2002 The Americas Europe Asia Total
Overseas sales ¥76,495 ¥76,964 ¥69,818 ¥223,278
Consolidated net sales       ¥480,902
         
Overseas sales as a percentage of consolidated net sales 15.9% 16.0% 14.5% 46.4%

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