Financial Information: Annual Report 2004

	Review of Operations

Overview

NSK’s Platform of Technology

By continuously reinforcing our four core technologies, NSK has established a “Platform of Technology” that forms the basis of product design for our bearings, automotive components, and precision machinery and parts divisions. This enables us to respond quickly to customer needs. By integrating these advanced technologies, we are strengthening our capabilities to develop next-generation products.

Platform Technology Groups

		The Four Core Technologies
			Tribology	Material Engineering	Analysis Technology	Mechatronics
			Lubricants (oils, greases)  Lubrication theory  Life theory  Surface element analysis  Surface modification	Bearing steel  Heat treatment  Ceramics  High polymeric materials	NSK BRAIN  Simulation technology  Computer analysis  Linear product analysis	Motor technology  Sensing technology  Systemization technology

Bearings

Automotive Components

Precision Machinery and Parts

• Electronic/IT equipment bearings • Automotive bearings • Precision bearings for machine tools • Steel mill bearings • Railway axlebox bearings • Aerospace bearings • Bearings for industrial machinery • Bearings for HDD spindles • Hub unit bearings • ROBUST Series bearings • Highly functional     standard roller bearings • TF Series bearings • Ceramic bearings

• Steering columns • Steering joints • Transmission-related products • Electric power steering systems • Traction drive units • Pulley units with roller type     one-way clutch • Roller follower • Clutch pack

• Ball screws • Linear guides • XY tables • Megatorque Motors • Photofabrication equipment     for LCD color filter production • Direct drive motor controller • Robot module • SPACEA™ Series bearings

Next-generation products

• Multi-sensor hub unit bearings • Railroad axle sensor bearings • Sensor bearings for     general industrial machinery

• Electric linear actuators     for automotives • Half-toroidal CVT

• Vacuum table

Sales by Business Segment	Operating Income (Loss) by Business Segment
Sales by Industry	Sales by Region (Sales are recognized by customers’ location)
Workforce by Region	Fixed Assets by Region
Sales Performance by Region (Sales are recognized by customers’ location)
Capital Expenditures and Depreciation by Region