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Tokyo, Japan, March 11, 2014 – NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Norio Otsuka) and the NSK Group would like to express its respects and condolences to all the victims of the Great East Japan Earthquake and Tsunami that struck Japan on March 11, 2011 on this, the solemn third anniversary of that tragic event. NSK also offers its sincere hope for a speedy total recovery of the disaster-affected areas.


NSK is determined to fulfill its social responsibilities such as a manufacturer to supply its products to a wide range of industries, and recognizes that, to do so, it is vital to strengthen its approach to business continuity planning from the lessons learned from 3/11.

 

3/11 3rd Anniversary Commemoration


     
      (1) Silent prayer

             Date/Time: Tuesday, March 11, 2014 at 2:46PM
             Participating: All Japan locations (headquarters, plants, sales/R&D offices and group companies)

     
      (2) Japan and NSK corporate flags will be flown at half-mast


Strengthening NSK's Approach to Business Continuity Planning


 

Strengthening NSK's Approach to Business Continuity PlanningOver the years NSK has focused on protecting human life and minimizing damage from disasters by implementing emergency drills and disaster mitigation efforts such as applying anti-seismic technologies to its equipment and facilities. Now, based on the lessons learned from 3/11, NSK has revised its Business Continuity Plan (BCP), adding new contents on ensuring that product supply is maintained and cooperation is undertaken with local communities in times of disaster. In December 2013, NSK held BCP training to verify the validity of the plan developed for headquarters' functions.


NSK is also committed to creating and maintaining detailed BCPs at each site and group company as well as implementing training in accordance to them, in order to increase the effectiveness of its BCPs.

 

 13 May 2014 - Payment of a pecuniary penalty for violation of Australian Competition and
 Consumer Act 2010

Tokyo, Japan, May 28, 2014 - NSK Singapore Bearing (Pte.) Ltd., a subsidiary of NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Norio Otsuka), was investigated in February 2013 by the Competition Commission of Singapore ("CCS") in relation to a suspected violation of the Competition Act of Singapore. Since then, NSK and NSK Singapore have fully cooperated with the CCS investigations. On May 27, 2014 the CCS has imposed a fine of S$1,286,375 (approximately 100 million yen) on NSK and NSK Singapore for violation of the Competition Act of Singapore in relation to certain sales of bearings in Singapore.


We express our sincere regret for the concern this matter has caused our shareholders, customers, and other stakeholders. NSK and its subsidiaries regard the situation with the utmost seriousness and have taken and will continue to take comprehensive measures with the help of outside experts and others to ensure strict compliance with all applicable laws and regulations during our corporate activities. We will devote every effort to restoring the trust of all stakeholders and the public.


The impact of the payment order on NSK's financial results and other conditions is expected to be insignificant.

*** This document is an English convenience translation of a document that was originally prepared in the Japanese language and is provided for convenience purposes only. NSK makes no representation or warranty that this document is a complete or accurate translation of the original Japanese text, and it is not intended to be relied upon. If there is any discrepancy between the Japanese and English versions, the Japanese version shall prevail. This document is not intended and should not be construed as an inducement to purchase or sell stock in NSK. ***

 28 May 2014 - Payment Order of a Fine for Violation of the Competition Act of Singapore

Tokyo, Japan, May 13, 2014 (Australian Eastern Standard Time) - NSK Australia Pty. Ltd., a wholly owned subsidiary of NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Norio Otsuka), was ordered by the Federal Court of Australia to pay a pecuniary penalty of A$ 3 million (approximately 290 million yen) for contraventions of the Australian competition law in connection with certain sales of bearings in Australia.
 

NSK and NSK Australia Pty. Ltd. have been fully cooperating with the Australian Competition and Consumer Commission's investigation in certain sales of bearings in Australia. Following an internal investigation into the alleged conduct, NSK negotiated with the Australian Competition and Consumer Commission and reached a settlement. As a result, the Federal Court of Australia made orders which were agreed to between NSK Australia Pty. Ltd. and the Australian Competition and Consumer Commission, including imposing the above penalty.
 

We express our sincere regret for the concern this matter has caused our shareholders, customers, and other stakeholders. NSK and its subsidiaries regard the situation with the utmost seriousness and have taken and will continue to take comprehensive measures with the help of outside experts and others to ensure strict compliance with all applicable laws and regulations during our corporate activities. We will devote every effort to restoring the trust of all stakeholders and the public.
 

NSK does not revise its consolidated business forecast for the fiscal year ending March 31, 2015, based on the imposition of the above penalty.


*** This document is an English convenience translation of a document that was originally prepared in the Japanese language and is provided for convenience purposes only. NSK makes no representation or warranty that this document is a complete or accurate translation of the original Japanese text, and it is not intended to be relied upon. If there is any discrepancy between the Japanese and English versions, the Japanese version shall prevail. This document is not intended and should not be construed as an inducement to purchase or sell stock in NSK. ***

 11 Mar 2014 - NSK Group Strengthens Business Continuity Plan, in Remembrance of 3/11


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