Business Results for the Six Months
Ended September 30, 2002

(1) Changes in the scope of consolidated subsidiaries

(74 companies 73 companies)

< Decrease >

·Aeroengine Bearings UK Ltd.


Transferred to the scope of affiliates accounted for under the equity method due to a change in equity. (100% 24.99%)

(2) Changes in affiliates accounted for under the equity method

(20 companies 22 companies)

< Increase >

·Timken NSK Bearings (Suzhou) Co., Ltd.


Newly established (Equity: 50%)


·Aeroengine Bearings UK Ltd


Transferred from the scope of consolidated subsidiaries.