I. Restructuring of domestic operations

Forecasts for the year ending March 31, 2002 - Consolidated -

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The business results of fiscal 2001 (the year ending March 31, 2002) are expected to be extremely disappointing, especially compared with the results of fiscal 2000, when we achieved substantial increases in both sales and profits. Consolidated sales for the NSK group are forecasted to be 480 billion yen, down 53.1 billion yen from the previous year's 533.1 billion yen. Operating income is forecasted at 1 billion yen, down 24.8 billion yen from 25.8 billion yen, while net losses of 7.5 billion yen are expected for the period, down 18.9 billion yen from 11.4 billion yen in net income recorded for the first half of fiscal 2000. Therefore, we deeply regret having to decrease our interim dividends from the planned 3 yen to 2.5 yen per share. Total dividends for the full year shall also be decreased to 5 yen instead of the planned 6 yen.