Changshu NSK Needle Bearing Co. Ltd. ¨C Ground-breaking Ceremony£¨pic£©

NSK Ltd. held the groundbreaking ceremony for Changshu NSK Needle Bearing Co. Ltd. (Changshu NSK: Changshu City, China) on November 5, 2004. Changshu NSK will be NSK Ltd.¡¯s new production base for the manufacture of needle roller bearings. The Secretary of the Changshu Communist Party was the guest of honor on this occasion along with sixty other distinguished guests. NSK Ltd. President, Mr.Asaka and NSK Needle Bearing Ltd. President, Mr. Nagayama attended the ceremony representing NSK Ltd. The weather was clear on this day and the event, along with the speeches made by the guest of honor and other distinguished guests were televised on local TV. The newspapers also carried articles and photographs of this event on its front pages on the following day. Mr. Asaka made the following remarks in his speech. ¡°On behalf of NSK and the NSK Group, I would like to express our happiness at being able to establish a manufacturing operation in the historically rich city of Changshu. Needle roller bearings have been designated a growth product and we are confident that we will be able to contribute to the development and prosperity of the city of Changshu. At the end of the ceremony, NSK presented all the Chinese guests with the ¡°Daruma Doll,¡± a doll that is famous in NSK Needle Bearing Ltd.¡¯s home city of Takasaki, Gunma Prefecture. Just like the parent company, Changshu NSK¡¯s company slogan will be ¡°the basis of manufacturing is its people.¡± All efforts will be made to ensure that this culture takes root in the Changshu NSK as well.