As for our capital expenditures, we have tried
to reduce new projects in view of the difficult economic
environment and have been focusing on items that we
have determined are strategically necessary.
In Japan, we built a new R&D center and launched
operations at the new NSK Kyushu Co., Ltd. precision
machinery plant.
In the U.S., we are constructing a new head office
building and R&D center, as well as reinforcing
our third generation wheel hub bearing unit production
facilities.
In Europe, investments have been necessary for
the reorganization of production bases in the region.
In Asia, we have been increasing production capacity
in China and the other ASEAN nations.
Overall, capital expenditure amounted to 36.2
billion yen, exceeding depreciation which was 28.2
billion yen.
For fiscal 2002, we will continue to cut back
on expenditure in Japan, but overseas investments
are expected to remain at a high level.
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