Approaching the Final Year of Our Mid-term Business Plan
(FY 2003 ~ FY 2005)

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Strategies for the Future Growth of NSK

New Business Portfolio Strategy to Secure Growth and Stability Stability: Auto business Growth: Industrial machinery busiess New Market Strategy Becoming the No.1 bearing manufacturer in China Expansion into emerging markets (e.g. BRICs)  Operating income margin: Over 10%  Operating cash flow (EBITDA): ¥100 billion