NSK Forecasts 62% Profit Increase for 2003

NSK Ltd. (Japan) said it now expects to report strong earnings for fiscal 2003, up 62% to ¥ 11 billion over 2002. While corporate-wide sales for the year ending March 31, 2004 are expected to come in flat overall, NSK indicated the bearing-related segments of its business generally outperformed the others. The company said continued strong demand from auto manufacturers for bearings is now being accompanied by improving demand for industrial bearings.