I. Consolidated Results

 Capital expenditures, in view of the weakening economic environment, in the end totaled 20.9 billion yen, still largely exceeding depreciation and amortization. In Japan, construction of the new Fujisawa R&D center has commenced and ball-screw production capacity at NSK Kyushu Co., Ltd. has been increased. In the U.S., investments for wheel hub bearing unit production facilities at the Franklin  Plant were carried out and construction of the new head office building was started. In Europe, investments at the Peterlee  Plant and Iskra Plant were carried out according to the European business restructuring plan, and in Asia, investments to increase production capacity at the Jakarta and Malaysia Plants were carried out. However, all projects that can be postponed have been stopped as part of a stringent plan to cut back capital expenditures, which are planned at 16.3 billion yen for the second half of fiscal 2001.
Note that expenditures for the Fujisawa R&D center, etc., include investments for buildings, therefore the actual capital expenditures do not exceed depreciation and amortization.