Buy Or Sell Opportunity • Jul 01
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 4.2% to €6.25. The fair value is estimated to be €5.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.0%. For the next 3 years, revenue is forecast to grow by 5.0% per annum. Earnings are also forecast to grow by 19% per annum over the same time period. Announcement • Jun 20
NSK Ltd. to Report Q1, 2027 Results on Jul 30, 2026 NSK Ltd. announced that they will report Q1, 2027 results on Jul 30, 2026 Buy Or Sell Opportunity • May 27
Now 22% overvalued Over the last 90 days, the stock has fallen 6.2% to €6.85. The fair value is estimated to be €5.60, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 4.0%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Ruriko Yoshida was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 14
NTN Corporation (TSE:6472) signed a memorandum of understanding to acquire NSK Ltd. (TSE:6471). NTN Corporation (TSE:6472) signed a memorandum of understanding to acquire NSK Ltd. (TSE:6471) on May 12, 2026. The consideration consists of common equity of NTN Corporation to be issued for common equity of NSK Ltd. As part of consideration, an undisclosed value is paid towards common equity of NSK Ltd.
The transaction is subject to approval of offer by acquirer shareholders and approval of offer by target shareholders. The expected completion of the transaction is October 1, 2027 to October 31, 2027. Announcement • May 12
NSK Ltd., Annual General Meeting, Jun 25, 2026 NSK Ltd., Annual General Meeting, Jun 25, 2026. Announcement • Mar 26
NSK Ltd. to Report Fiscal Year 2026 Results on May 12, 2026 NSK Ltd. announced that they will report fiscal year 2026 results on May 12, 2026 Announcement • Dec 06
NSK Ltd. to Report Q3, 2026 Results on Feb 03, 2026 NSK Ltd. announced that they will report Q3, 2026 results on Feb 03, 2026 Announcement • Sep 01
NSK Ltd. to Report Q2, 2026 Results on Nov 04, 2025 NSK Ltd. announced that they will report Q2, 2026 results on Nov 04, 2025 Announcement • Jun 03
NSK Ltd. to Report Q1, 2026 Results on Jul 31, 2025 NSK Ltd. announced that they will report Q1, 2026 results on Jul 31, 2025 Announcement • May 13
NSK Ltd. (TSE:6471) agreed to acquire remaining 50.01% stake in NSK Steering & Control Co., Ltd. from Japan Industrial Solutions III Investment Limited Partnership managed by Japan Industrial Solutions, Ltd. NSK Ltd. (TSE:6471) agreed to acquire remaining 50.01% stake in NSK Steering & Control Co., Ltd. from Japan Industrial Solutions III Investment Limited Partnership managed by Japan Industrial Solutions, Ltd. on May 12, 2025. Upon completion, NSK Ltd. will own 99.80% stake in NSK Steering & Control Co., Ltd.
For the period ending March 31, 2025, NSK Steering & Control Co., Ltd. reported total revenue of ¥160 billion and EBIT of ¥4 billion.
The expected completion of the transaction is September 1, 2025. Announcement • Mar 13
NSK Ltd. to Report Fiscal Year 2025 Results on May 12, 2025 NSK Ltd. announced that they will report fiscal year 2025 results on May 12, 2025 Announcement • Dec 06
NSK Ltd. to Report Q3, 2025 Results on Jan 31, 2025 NSK Ltd. announced that they will report Q3, 2025 results on Jan 31, 2025 Reported Earnings • Nov 01
Second quarter 2025 earnings released: EPS: JP¥3.84 (vs JP¥8.32 in 2Q 2024) Second quarter 2025 results: EPS: JP¥3.84 (down from JP¥8.32 in 2Q 2024). Revenue: JP¥197.1b (flat on 2Q 2024). Net income: JP¥1.88b (down 54% from 2Q 2024). Profit margin: 1.0% (down from 2.0% in 2Q 2024). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 11% per year. Announcement • Sep 20
Rane Holdings Limited (BSE:505800) completed the acquisition of remaining 51% stake in Rane NSK Steering Systems Ltd. from NSK Ltd. (TSE:6471). Rane Holdings Limited (BSE:505800) agreed to acquire remaining 51% stake in Rane NSK Steering Systems Ltd. from NSK Ltd. (TSE:6471) for INR 450 million on July 1, 2024. A cash consideration of INR 450 million will be paid by Rane Holdings Limited. As part of the deal, Rane Holdings Limited will acquire 9.13 million shares of Rane NSK Steering Systems Ltd. Upon completion, Rane Holdings Limited will own 100% stake in Rane NSK Steering Systems Ltd. Post this transaction, Rane NSK Steering Systems Ltd. will be named as Rane Steering Systems Private Limited. For the period ending March 31, 2024, Rane NSK Steering Systems Ltd. reported total revenue of INR 17.19 billion. The transaction is subject to approval by regulatory board. The deal has been approved by the Board of Directors of Rane Holdings Limited (BSE:505800). The completion of the transaction will take place on or before September 30, 2024. Aarthi Sivanandh of AZB & Partners acted as legal advisor to Rane Holdings Limited.
Rane Holdings Limited (BSE:505800) completed the acquisition of remaining 51% stake in Rane NSK Steering Systems Ltd. from NSK Ltd. (TSE:6471) on September 19, 2024. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.8%. Within top quartile of German dividend payers (4.8%). Higher than average of industry peers (3.6%). Announcement • Aug 27
NSK Ltd. to Report Q2, 2025 Results on Oct 31, 2024 NSK Ltd. announced that they will report Q2, 2025 results on Oct 31, 2024 Reported Earnings • Jul 30
First quarter 2025 earnings released: EPS: JP¥4.06 (vs JP¥3.09 in 1Q 2024) First quarter 2025 results: EPS: JP¥4.06 (up from JP¥3.09 in 1Q 2024). Revenue: JP¥200.5b (up 6.5% from 1Q 2024). Net income: JP¥1.98b (up 28% from 1Q 2024). Profit margin: 1.0% (up from 0.8% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Announcement • Jul 26
Stephen Lord, Willi Castro and Dominik Szell agreed to acquire Neuweg Fertigung GmbH from NSK Ltd. (TSE:6471). Stephen Lord, Willi Castro and Dominik Szell agreed to acquire Neuweg Fertigung GmbH from NSK Ltd. (TSE:6471) on July 25, 2024. Board Change • Jul 21
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Nobuhide Hayashi was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Jul 11
Final dividend of JP¥17.00 announced Shareholders will receive a dividend of JP¥17.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 373%, which is higher than the industry average of 2.6%. Sustainability & Growth Dividend is not covered by earnings (112% earnings payout ratio). However, it is well covered by cash flows (40% cash payout ratio). The dividend has increased by an average of 11% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 24% to bring the payout ratio under control. EPS is expected to grow by 106% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Announcement • Jul 02
Rane Holdings Limited (BSE:505800) agreed to acquire remaining 51% stake in Rane NSK Steering Systems Ltd. from NSK Ltd. (TSE:6471) for INR 450 million. Rane Holdings Limited (BSE:505800) agreed to acquire remaining 51% stake in Rane NSK Steering Systems Ltd. from NSK Ltd. (TSE:6471) for INR 450 million on July 1, 2024. A cash consideration of INR 450 million will be paid by Rane Holdings Limited. As part of the deal, Rane Holdings Limited will acquire 9.13 million shares of Rane NSK Steering Systems Ltd. Upon completion, Rane Holdings Limited will own 100% stake in Rane NSK Steering Systems Ltd. For the period ending March 31, 2024, Rane NSK Steering Systems Ltd. reported total revenue of INR 17.19 billion. The transaction is subject to approval by regulatory board. The deal has been approved by the Board of Directors of Rane Holdings Limited (BSE:505800). The completion of the transaction will take place on or before September 30, 2024. Announcement • Jun 30
NSK Ltd. to Report Q1, 2025 Results on Jul 29, 2024 NSK Ltd. announced that they will report Q1, 2025 results on Jul 29, 2024 Announcement • May 11
NSK Ltd., Annual General Meeting, Jun 27, 2024 NSK Ltd., Annual General Meeting, Jun 27, 2024. Reported Earnings • May 10
Full year 2024 earnings released: EPS: JP¥26.79 (vs JP¥35.89 in FY 2023) Full year 2024 results: EPS: JP¥26.79 (down from JP¥35.89 in FY 2023). Revenue: JP¥788.9b (down 16% from FY 2023). Net income: JP¥13.2b (down 28% from FY 2023). Profit margin: 1.7% (down from 2.0% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 07 June 2024. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.9%). In line with average of industry peers (3.2%). Announcement • Mar 02
NSK Ltd. to Report Fiscal Year 2024 Results on May 09, 2024 NSK Ltd. announced that they will report fiscal year 2024 results on May 09, 2024 Reported Earnings • Feb 04
Third quarter 2024 earnings released: EPS: JP¥6.50 (vs JP¥9.55 in 3Q 2023) Third quarter 2024 results: EPS: JP¥6.50 (down from JP¥9.55 in 3Q 2023). Revenue: JP¥201.4b (down 15% from 3Q 2023). Net income: JP¥3.18b (down 35% from 3Q 2023). Profit margin: 1.6% (down from 2.1% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Dec 02
NSK Ltd. to Report Q3, 2024 Results on Feb 02, 2024 NSK Ltd. announced that they will report Q3, 2024 results on Feb 02, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥8.29 (vs JP¥9.18 in 2Q 2023) Second quarter 2024 results: EPS: JP¥8.29 (down from JP¥9.18 in 2Q 2023). Revenue: JP¥198.4b (down 19% from 2Q 2023). Net income: JP¥4.06b (down 14% from 2Q 2023). Profit margin: 2.0% (up from 1.9% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Buying Opportunity • Sep 28
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 6.1%. The fair value is estimated to be €6.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 1.4% per annum. Earnings is also forecast to grow by 21% per annum over the same time period. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥15.00 per share at 3.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. Payout ratio is on the higher end at 100%, however this is supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.8%). Buying Opportunity • Sep 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.6%. The fair value is estimated to be €6.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.4% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 1.4% per annum. Earnings is also forecast to grow by 21% per annum over the same time period. Announcement • Aug 31
NSK Ltd. to Report Q2, 2024 Results on Oct 31, 2023 NSK Ltd. announced that they will report Q2, 2024 results on Oct 31, 2023 Reported Earnings • Aug 01
First quarter 2024 earnings released: EPS: JP¥3.09 (vs JP¥2.57 in 1Q 2023) First quarter 2024 results: EPS: JP¥3.09 (up from JP¥2.57 in 1Q 2023). Revenue: JP¥188.2b (down 14% from 1Q 2023). Net income: JP¥1.55b (up 17% from 1Q 2023). Profit margin: 0.8% (up from 0.6% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Jul 20
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Director Mikio Fujitsuka was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 18
United States District Court for the Eastern District of Michigan Southern Division Approves the Announcement Concerning Proposed Distribution Plan for the Proceeds of $9.75 Million Settlement with the Minebea Defendants Freed Kanner London & Millen LLC; Kohn, Swift & Graf, P.C.; Preti, Flaherty, Beliveau & Pachios, LLP; Spector Roseman & Kodroff, P.C.; Cera LLP; and Cohen Milstein Sellers & Toll PLLC announced that the United States District Court for the Eastern District of Michigan Southern Division ("Court") has approved the announcement concerning a proposed distribution plan for the proceeds of a $9.75 million settlement with the Minebea Defendants ("Minebea Settlement Fund") in a price fixing class action lawsuit relating to small bearings. The settlement resolved allegations against the Minebea Defendants that they conspired to suppress and eliminate competition for Small Bearings by agreeing to raise, fix, maintain, and/or stabilize prices, rig bids, and allocate markets and customers for Small Bearings sold in the United States, in violation of federal antitrust laws. Small Bearings refers to bearings whose outer diameter is 30 millimeters or less. The settlement affects those who purchased small bearings in the United States between June 1, 2003 and February 15, 2017 directly from MINEBEA MITSUMI Inc., NMB (USA), Inc., NMB Technologies Corporation, NSK Ltd., NSK Americas, Inc., or NSK Corporation. A hearing will be held on October 12, 2023, at 2:00 p.m., before the Honorable Sean F. Cox, United States District Judge, for the purpose of determining whether to approve: (1) the proposed plan of distribution of the Minebea Settlement Fund; (2) Settlement Class Counsel's request for an award from the Minebea settlement proceeds of attorneys' fees and litigation costs and expenses; and (3) a service award for the Class Representative. Announcement • Jun 17
NSK Ltd. to Report Q1, 2024 Results on Jul 31, 2023 NSK Ltd. announced that they will report Q1, 2024 results on Jul 31, 2023 Reported Earnings • May 15
Full year 2023 earnings released: EPS: JP¥35.89 (vs JP¥32.35 in FY 2022) Full year 2023 results: EPS: JP¥35.89 (up from JP¥32.35 in FY 2022). Revenue: JP¥938.1b (up 8.4% from FY 2022). Net income: JP¥18.4b (up 11% from FY 2022). Profit margin: 2.0% (up from 1.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share at 4.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 09 June 2023. Payout ratio is on the higher end at 100%, and the cash payout ratio is above 100%. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (2.9%). Reported Earnings • Feb 02
Third quarter 2023 earnings released: EPS: JP¥9.55 (vs JP¥8.37 in 3Q 2022) Third quarter 2023 results: EPS: JP¥9.55 (up from JP¥8.37 in 3Q 2022). Revenue: JP¥236.4b (up 9.9% from 3Q 2022). Net income: JP¥4.90b (up 14% from 3Q 2022). Profit margin: 2.1% (up from 2.0% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Junji Tsuda was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 02
Second quarter 2023 earnings released: EPS: JP¥9.17 (vs JP¥5.71 in 2Q 2022) Second quarter 2023 results: EPS: JP¥9.17 (up from JP¥5.71 in 2Q 2022). Revenue: JP¥244.4b (up 20% from 2Q 2022). Net income: JP¥4.71b (up 61% from 2Q 2022). Profit margin: 1.9% (up from 1.4% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 16% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 05 December 2022. Payout ratio is on the higher end at 98% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (3.2%). Announcement • Sep 01
NSK Ltd. to Report Q2, 2023 Results on Oct 31, 2022 NSK Ltd. announced that they will report Q2, 2023 results on Oct 31, 2022 Board Change • Aug 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Junji Tsuda was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥2.57 (vs JP¥9.43 in 1Q 2022) First quarter 2023 results: EPS: JP¥2.57 (down from JP¥9.43 in 1Q 2022). Revenue: JP¥219.4b (up 2.8% from 1Q 2022). Net income: JP¥1.32b (down 73% from 1Q 2022). Profit margin: 0.6% (down from 2.3% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 9.1%, compared to a 9.5% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Board Change • Jul 07
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Directors Koichi Obara was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 12
NSK Ltd., Annual General Meeting, Jun 28, 2022 NSK Ltd., Annual General Meeting, Jun 28, 2022. Reported Earnings • May 11
Full year 2022 earnings released: EPS: JP¥32.35 (vs JP¥0.69 in FY 2021) Full year 2022 results: EPS: JP¥32.35 (up from JP¥0.69 in FY 2021). Revenue: JP¥865.2b (up 16% from FY 2021). Net income: JP¥16.6b (up JP¥16.2b from FY 2021). Profit margin: 1.9% (up from 0% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 8.4%, compared to a 9.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Apr 07
NSK Ltd. to Report Fiscal Year 2022 Results on May 10, 2022 NSK Ltd. announced that they will report fiscal year 2022 results on May 10, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 11 June 2022. Payout ratio is a comfortable 50% but the company is not cash flow positive. Trailing yield: 4.1%. Within top quartile of German dividend payers (3.6%). Higher than average of industry peers (1.9%). Announcement • Feb 26
NSK Ltd. and NSK Canada Inc. Propose Settlement Reached in Canadian Small-Size Ball Bearings Class Actions A proposed national settlement has been reached with NSK Ltd. and NSK Canada Inc. (collectively NSK) in Canadian class actions concerning the alleged price fixing of small-size ball bearings. Small-size ball bearings are notably used in communication devices, household appliances, video cameras, personal computers, printers, air conditioning units, vacuum cleaners, fishing reels and power tools, among other products. NSK has agreed to pay CAD 600,000 for the benefit of settlement class members. The settlement, which was negotiated over several months, is not an admission by NSK of liability, fault, or wrongdoing, but is a compromise of disputed claims. The settlement must be approved by the courts before it becomes effective. To be a member of these class actions, one must have purchased a small-size ball bearing or a product containing a small-size ball bearing between June 1, 2003 and October 31, 2011. This is the second and final settlement to be reached in the actions. An earlier national settlement valued at CAD 1.5 million has been previously approved by the courts. If approved, the NSK settlement will resolve the litigation in its entirety. The settlement amounts will not be distributed at this time. At a future time, the courts will approve a process for the payment of claims to class members. A further notice will be provided at the time of distribution. Reported Earnings • Feb 02
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: EPS: JP¥7.97 (down from JP¥8.47 in 3Q 2021). Revenue: JP¥215.0b (flat on 3Q 2021). Net income: JP¥4.09b (down 5.9% from 3Q 2021). Profit margin: 1.9% (down from 2.0% in 3Q 2021). Revenue missed analyst estimates by 2.8%. Over the next year, revenue is forecast to grow 7.4%, compared to a 10.0% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 02
Second quarter 2022 earnings released: EPS JP¥6.12 (vs JP¥5.05 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥204.3b (up 9.2% from 2Q 2021). Net income: JP¥3.14b (up JP¥5.72b from 2Q 2021). Profit margin: 1.5% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 08 December 2021. Trailing yield: 3.4%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (1.0%). Reported Earnings • Aug 03
First quarter 2022 earnings released: EPS JP¥9.43 (vs JP¥18.94 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥213.5b (up 66% from 1Q 2021). Net income: JP¥4.83b (up JP¥14.5b from 1Q 2021). Profit margin: 2.3% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 24
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 30 June 2021. Trailing yield: 1.7%. Lower than top quartile of German dividend payers (3.3%). Higher than average of industry peers (1.2%). Announcement • Mar 12
NSK Ltd. to Report Fiscal Year 2021 Results on May 11, 2021 NSK Ltd. announced that they will report fiscal year 2021 results on May 11, 2021 Is New 90 Day High Low • Mar 09
New 90-day high: €8.65 The company is up 20% from its price of €7.20 on 09 December 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €10.59 per share. Announcement • Mar 03
NSK Ltd. (TSE:6471) completed the acquisition of Brüel & Kjær Vibro A/S from Spectris plc (LSE:SXS). NSK Ltd. (TSE:6471) agreed to acquire Brüel & Kjær Vibro A/S from Spectris plc (LSE:SXS) for approximately of £160 million on December 10, 2020. The net consideration will be funded by cash on hand and subject to locked box adjustments. In a related transaction, Spectris has agreed with UTAC CERAM to acquire certain subsidiaries constituting the Millbrook business from Spectris for a headline value of £133 million. For the year ended December 2019, Brüel & Kjær Vibro A/S reported revenues of £47.7 million. For the period ended June 30, 2020, Brüel & Kjær Vibro A/S reported operating profit of £7 million and EBITDA of £8.3 million. The transaction is subject to customary completion conditions and regulatory approvals. The transaction is expected to close in end of March 2021. Subject to the completion of both these disposals, Spectris plc will use the proceeds to further strengthen Spectris’ balance sheet and then be deployed in accordance with its capital allocation policy. If the acquisition is completed, the impact on NSK’s consolidated results will be minimal. JPMorgan Securities Japan Co., Ltd. acted as financial advisor to NSK Ltd.
NSK Ltd. (TSE:6471) completed the acquisition of Brüel & Kjær Vibro A/S from Spectris plc (LSE:SXS) on March 1, 2021. As of March 1, 2021, the transaction has received regulatory approvals. Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS JP¥8.47 (vs JP¥8.70 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: JP¥214.4b (up 3.7% from 3Q 2020). Net income: JP¥4.34b (down 2.6% from 3Q 2020). Profit margin: 2.0% (down from 2.2% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 71% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 03
Revenue beats expectations Revenue exceeded analyst estimates by 6.8%. Over the next year, revenue is forecast to grow 11%, compared to a 4.9% growth forecast for the Machinery industry in Germany. Is New 90 Day High Low • Feb 03
New 90-day high: €7.80 The company is up 16% from its price of €6.70 on 05 November 2020. The German market is also up 16% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Machinery industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.94 per share. Is New 90 Day High Low • Jan 15
New 90-day high: €7.45 The company is up 16% from its price of €6.45 on 16 October 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.56 per share. Announcement • Dec 11
NSK Ltd. (TSE:6471) agreed to acquire Brüel & Kjær Vibro A/S from Spectris plc (LSE:SXS) for approximately of £163 million. NSK Ltd. (TSE:6471) agreed to acquire Brüel & Kjær Vibro A/S from Spectris plc (LSE:SXS) for approximately of £163 million on December 10, 2020. The acquisition will be funded by cash on hand. For the year ended December 2019, Brüel & Kjær Vibro A/S reported revenues of £47.7 million. For the period ended June 30, 2020, Brüel & Kjær Vibro A/S reported operating profit of £7 million and EBITDA of £8.3 million. The transaction is subject to customary completion conditions and regulatory approvals. Spectris plc will use the proceeds to further strengthen Spectris’ balance sheet and then be deployed in accordance with its capital allocation policy. The transaction is expected to close in end of march 2021. Is New 90 Day High Low • Dec 11
New 90-day high: €7.35 The company is up 5.0% from its price of €7.00 on 11 September 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.74 per share. Announcement • Dec 10
NSK Ltd. to Report Q3, 2021 Results on Feb 02, 2021 NSK Ltd. announced that they will report Q3, 2021 results on Feb 02, 2021 Announcement • Nov 18
NSK Monocarrier Accelerates Certification of Ventilators for COVID-19 StarFish Medical called on NSK to quickly deliver up to 7,500 Monocarrier™ linear actuator assemblies for use in their Winnipeg 2.0 Ventilator. The Winnipeg Ventilator 2.0 employs a revolutionary "frictionless" piston design. The piston is precision-machined so that its diameter is only a fraction of a millimeter smaller than the diameter of the cylinder in which it moves along a central axis. The absence of a physical seal or contact between piston and cylinder greatly reduces the resistance to piston motion, making it possible to obtain very high flow rates. StarFish Medical engaged Toronto-based Celestica Inc. a leading electronics manufacturing services company, to co-ordinate the supply chain and its vendor network for manufacturing. The Monocarrier rodless linear actuator series combines three core NSK Automation technologies: precision-ground ball screws, linear guides with K1™ lubrication, and support bearings. These fully integrated components provide smooth, near-silent, high-accuracy linear positioning for up to 5 years or 10,000 km of travel without maintenance. They are available in a broad range of sizes and load capacities, from the very compact units used by StarFish Medical, to the Toughcarrier™ line of heavy-duty industrial units featuring cylindrical rollers as the rolling elements. The Monocarrier actuator also takes advantage of NSK Automation's mechatronics expertise, and can be easily combined with stepper or servo motors for a seamlessly integrated, preassembled and pretested component ready for installation. Multiple Monocarriers can easily be combined into an XYZ assembly or integrated with NSK linear guides and rails using readily available combination brackets, to create high-precision multi-axis robots or gantry systems. For applications ranging from semiconductor manufacturing, medical and diagnostic equipment, to 3D printers and industrial machining systems, NSK enables automation to help customers pioneer new technology, increase operational efficiency, or go to market faster. Is New 90 Day High Low • Nov 12
New 90-day high: €7.30 The company is up 13% from its price of €6.45 on 14 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.59 per share. Reported Earnings • Nov 10
Second quarter 2021 earnings released: JP¥5.05 loss per share The company reported a poor second quarter result with weaker earnings, revenues and control over expenses. Second quarter 2021 results: Revenue: JP¥187.0b (down 12% from 2Q 2020). Net loss: JP¥2.59b (down 187% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 10
Revenue beats expectations Revenue exceeded analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 6.8% while the growth in Machinery industry in Germany is expected to stay flat. Reported Earnings • Nov 05
Second quarter 2021 earnings released: JP¥5.05 loss per share The company reported a poor second quarter result with weaker earnings, revenues and control over expenses. Second quarter 2021 results: Revenue: JP¥187.0b (down 12% from 2Q 2020). Net loss: JP¥2.59b (down 187% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 18% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 05
Revenue beats expectations Revenue exceeded analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 6.8% while the growth in Machinery industry in Germany is expected to stay flat. Announcement • Oct 05
NSK Ltd. to Report Fiscal Year 2009 Results on 05/11/2010 NSK Ltd. announced that they will report fiscal year 2009 results on 05/11/2010 Announcement • Sep 06
NSK Ltd. to Report Q2, 2021 Results on Nov 02, 2020 NSK Ltd. announced that they will report Q2, 2021 results at 9:11 AM, GMT Standard Time on Nov 02, 2020 
