NSK Ltd. expected to Report Q3 2010 Results on January 28, 2010. This event was calculated by Capital IQ (Created on October 30, 2009).

NSK Ltd. aims to lift its sales in China to JPY 100 billion ($1 billion) by the year ending March 31, 2013. The sales goal translates to a 75% jump from the year ended March 31, 2010. The target will likely be included in the major bearing maker's four-year business plan, due to be unveiled as early as November. In the four-year business plan, the company is setting its goal for the plan's final year, which winds down March 31, 2013, at JPY 800 billion for group wide sales and JPY 80 billion for operating profit. For the current fiscal year ending March 31, 2010, the company projects a 15% fall in group sales to JPY 550 billion and an 86% plunge in operating profit to JPY 3 billion. The company forecasts a 5% rise in Chinese sales to JPY 60 billion in the year ending March 31, 2010.

NSK Ltd. plans to spend about ¥7 billion ($73.2 million) to construct a precision machinery plant in China. The factory will handle such components as ball screws, which translate rotational motion from motors to linear motion, and linear guides, which allow machine tools and semiconductor manufacturing equipment to move smoothly. The major bearings manufacturer will establish a wholly owned subsidiary in Liaoning Province next month to operate the facility, which is slated to go on stream in April 2010. Capitalized at about ¥3.5 billion, this unit will initially employ about 600 workers. The products made at the plant will be supplied to local factories of machine tool manufacturers and others, as well as exported to Europe. NSK also announced plans to shut down an automotive parts factory in the U.K. Production at its 100% owned unit NSK Steering Systems Europe Ltd. will be transferred to Polish unit NSK Steering Systems Europe (Polska) SP by the middle of next year. The firm aims to enhance the profitability of its steering products business by consolidating production to Eastern Europe, where many of the plants of European automakers are located.