Financial Information: Annual Report 2004

	Notes to Consolidated Financial Statements
	NSK Ltd. and Subsidiaries For the year ended March 31, 2004

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, hub unit bearings, needle roller bearings;
• Automotive components segment: which includes steering columns, electric power steering, automatic transmission components;
• 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, 2004	Bearings	Automotive components	Precision machinery and parts	Other	Total	Eliminations and other	Consolidated
Sales to third parties	¥332,826	¥129,303	¥47,072	¥13,015	¥522,217	¥ -	¥522,217
Intersegment sales   and transfers	-	-	-	6,463	6,463	(6,463)	-
Total	332,826	129,303	47,072	19,479	528,681	(6,463)	522,217
Operating expenses	309,255	125,003	47,111	18,300	499,670	(3,425)	496,245
Operating income (loss)	¥23,571	¥4,299	¥(39)	¥1,178	¥29,010	¥(3,038)	¥25,972
Total assets	¥367,660	¥91,010	¥57,160	¥15,722	¥531,554	¥90,322	¥621,877
Depreciation	¥20,768	¥3,756	¥3,208	¥320	¥28,053	¥(1,144)	¥26,909
Capital expenditures	¥18,060	¥4,781	¥3,870	¥76	¥26,789	¥(475)	¥26,313

Thousands of U.S. dollars
For the year ended March 31, 2004	Bearings	Automotive components	Precision machinery and parts	Other	Total	Eliminations and other	Consolidated
Sales to third parties	$3,139,868	$1,219,840	$444,075	$122,783	$4,926,575	$ -	$4,926,575
Intersegment sales   and transfers	-	-	-	60,972	60,972	(60,972)	-
Total	3,139,868	1,219,840	444,075	183,764	4,987,557	(60,972)	4,926,575
Operating expenses	2,917,500	1,179,274	444,443	172,642	4,713,868	(32,311)	4,681,557
Operating income (loss)	$222,368	$40,557	$(368)	$11,113	$273,679	$(28,660)	$245,019
Total assets	$3,468,491	$858,585	$539,245	$148,321	$5,014,660	$852,094	$5,866,764
Depreciation	$195,925	$35,434	$30,264	$3,019	$264,651	$(10,792)	$253,858
Capital expenditures	$170,377	$45,104	$36,509	$717	$252,726	$(4,481)	$248,236

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

Millions of yen
For the year ended March 31, 2004	Japan	The Americas	Europe	Asia	Total	Eliminations and other	Consolidated
Sales to third parties	¥316,028	¥73,290	¥85,390	¥47,508	¥522,217	¥ -	¥522,217
Interarea sales   and transfers	75,792	463	4,454	10,103	90,813	(90,813)	-
Total	391,820	73,753	89,845	57,611	613,031	(90,813)	522,217
Operating expenses	368,883	73,169	87,226	53,833	583,113	(86,868)	496,245
Operating income (loss)	¥22,937	¥584	¥2,618	¥3,778	¥29,918	¥(3,945)	¥25,972
Total assets	¥536,203	¥55,171	¥78,394	¥59,157	¥728,926	¥(107,049)	¥621,877

Thousands of U.S. dollars
For the year ended March 31, 2004	Japan	The Americas	Europe	Asia	Total	Eliminations and other	Consolidated
Sales to third parties	$2,981,396	$691,415	$805,566	$448,189	$4,926,575	$ -	$4,926,575
Interarea sales   and transfers	715,019	4,368	42,019	95,311	856,726	(856,726)	-
Total	3,696,415	695,783	847,594	543,500	5,783,311	(856,726)	4,926,575
Operating expenses	3,480,028	690,274	822,887	507,858	5,501,066	819,509	4,681,557
Operating income (loss)	$216,387	$5,509	$24,698	$35,642	$282,245	$(37,217)	$245,019
Total assets	$5,058,519	$520,481	$739,566	$558,085	$6,876,660	$(1,009,896)	$5,866,764

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

Millions of yen
For the year ended March 31, 2004	The Americas	Europe	Asia	Total
Overseas sales	¥74,885	¥85,391	¥83,295	¥243,572
Consolidated net sales				¥522,217
Thousands of U.S. dollars
Overseas sales	$706,462	$805,575	$785,802	$2,297,849
Consolidated net sales				$4,926,575
Overseas sales as a percentage of consolidated net sales	14.3%	16.4%	15.9%	46.6%
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
Overseas sales as a percentage of consolidated net sales	15.6%	15.6%	15.4%	46.6%