NSK Ltd (OTCPK:NPSKY)

Q2 2026 NSK Ltd Earnings Call Transcript

Nov 5, 2025 / 10:59 AM GMT

Release Date Price: $11.15 (+0.45%)

Transcript

Key Points

Positve

NSK Ltd (NPSKY) successfully consolidated the Steering Business as a wholly owned subsidiary, contributing significantly to sales and profits.
The company reported a year-on-year increase in sales by JPY14.6 billion and profits by JPY6.8 billion for the first half of the fiscal year ending March 2026.
NSK Ltd (NPSKY) revised its full-year forecast upwards, projecting sales of JPY885 billion and operating income of JPY30 billion, reflecting strong performance and strategic consolidation.
The Industrial Machinery segment saw a sales increase of 2.7%, driven by demand in China and spot orders for semiconductor equipment in the Americas.
Structural reforms and operational improvements have led to cost savings, with a reported JPY6.2 billion in savings over inflation-related expenses.

Negative

Sales in Europe declined due to the withdrawal of unprofitable products as part of structural reforms.
The Automotive business faces challenges with flat production volumes and increased tariff costs impacting profitability.
Despite improvements, the company is still far from achieving its midterm plan target of an 8% profit margin.
The impact of US tariffs and exchange rate fluctuations continue to pose challenges, with a one-month delay in cost recovery.
NSK Ltd (NPSKY) has not factored in risks related to rare earth metals and semiconductor shortages due to significant uncertainty.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

6471.T - NSK Ltd
Q2 2026 NSK Ltd Earnings Call
Nov 05, 2025 / NTS GMT

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Conference Call Participants
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* Editor

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Presentation
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Unidentified Company Representative [1]
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Good afternoon. Thank you for joining the NSK Limited Investor Relations financial conference for the second quarter of the fiscal year ending March 2026. Before we explain the financial results, I will briefly touch on the Steering Business disclosure included in this presentation.

The Steering Business, which became an equity method affiliate in August 2023, is now once again a wholly owned consolidated subsidiary of NSK effective from September 1, 2025. As a result, from this reporting period, the Steering Business has been disclosed as an independent segment consolidated under NSK. This applies to the content of today's

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