NSK Ltd. reported earnings results for the year ended March 31, 2008. For the year, the company reported net profit 22.3% to JPY 42.6 billion. Revenue was up 7.6% to JPY 772 billion. Operating profit increased 11.2% to JPY 69.3 billion and ordinary profit rose 12.6% to JPY 64.9 billion. Earnings per share rose from JPY 64.5 to JPY 78.8. An annual dividend of JPY 19 per share was declared, up from JPY 16 last year, with JPY 20 estimated next year. The company provides earnings guidance for the first half of 2008 and year ending March 31, 2009. For the first half, the company expects net profit of JPY 19.5 billion and revenue of JPY 380 billion. For the full-year, the company expects net profit of JPY 44 billion on revenue of JPY 800 billion.

NSK Ltd. has established a sales office in Chennai following an approval from the Foreign Investment Promotion Board. NSK and its joint venture partner, ABC Bearings of Mumbai, have invested INR 500 million to set up a new manufacturing facility at Oragadam, the auto corridor of Chennai. Both the partners plan to invest another INR 300 million to produce 40 million bearings by 2010. NSK sells the bearings to core customers such as Maruti Suzuki India Ltd, Bharat Earth Movers Ltd. and Bharat Heavy Electricals Ltd.

NSK opened its plant in Chennai with an initial investment of INR 500 million in a joint venture partnership with ABC Bearings Ltd. of Mumbai. While the company contributed 75% of the capital, ABC contributed the rest. The companies will invest another INR 300 million by 2010 to increase the capacity to 40 million bearings.