Summary of Benefits from the 2nd Phase of
the "NSK Business Restructuring Program"

(¥100 million)	(Year ended Mar. 31, '03) FY 2002	(Year ending Mar. 31, '04) FY 2003
	Profit contributions	Contributions from activities implemented in FY 2002	Contributions from activities to be implemented in FY 2003	Profit contributions (Total contributions from activities implemented in FY 2002 and FY 2003)
Restructuring of our domestic employment system	+27	+54	0	+54
Reduction of procurement costs	+45	+45	+78	+123
Restructuring of our European business	+58	+76	+12	+88
Total	+130	+175	+90	+265
		Increase in profit contributions arising from business restructuring activities		+13.5 billion yen