6471
NSK Ltd.
日本精工株式会社
Machinery
NSK Ltd., together with its subsidiaries, manufactures and sells industrial machinery bearings, automotive products, and precision machinery and parts worldwide. The company's products include ball bearings; roller bearings; bearing units; super precision bearings; bearings for steel industry, mining and construction, papermaking machines, and pumps and compressors; and bearings for special environments, including sanitary, corrosive, vacuum, cleanroom, high-temperature, non-magnetic requirement, and dust-contaminated environments. It also provides automotive products, which comprise chassis products, such as electric power steerings, steering column and intermediate shafts, brake systems, and hub unit bearings; power train products comprising engine parts and electrical accessories, automatic and manual transmission, differential gear and propeller shafts, electrical accessories, engine parts, toroidal CVT POWERTOROS unit, and motorcycles and all-terrain vehicles. In addition, the company offers precision machine components, including ball screws, linear guides, monocarriers linear actuators, XY tables, and spindles; and accessories, including ball screw support bearings, air bearings, and clean grease, as well as support units for heavy and light loads, machine tools, and small equipment. Further, the company provides megatorque motors and maintenance services, and condition monitoring solutions through wireless vibration diagnostic device D-VibA10. It serves agriculture, automotive, cement, food and beverage, industrial motor and gearbox, injection molding machine, machine tool, medical device, mining and construction, motorcycle, office equipment, palm oil, papermaking machinery, pump and compressor, railway, semiconductor, steel and metal, sugar, and wind turbine industries. NSK Ltd. was incorporated in 1916 and is headquartered in Tokyo, Japan.
Price
¥1,249
Market Cap
¥619.0B
Ent. Value
—
Net Cash
est
—
Shares Out.
495.6M
P / E
57.3×
EV / EBIT
—
P / Book
—
P / NCAV
7.17×
Div. Yield
2.72%
Financials
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Net Sales | ¥796.7B | ¥788.9B | ¥938.1B | ¥865.2B |
| Cost of Sales | ¥623.9B | ¥623.6B | ¥747.0B | ¥695.4B |
| Gross Profit | ¥172.8B | ¥165.2B | ¥191.1B | ¥169.7B |
| SG&A | ¥144.7B | ¥140.9B | ¥159.3B | ¥144.7B |
| Operating Income | ¥28.5B | ¥27.4B | ¥32.9B | ¥29.4B |
| Non-Operating Income | ¥3.2B | ¥3.6B | ¥2.4B | ¥2.2B |
| Non-Operating Expenses | ¥6.6B | ¥4.8B | ¥3.4B | ¥2.1B |
| Pre-tax Income | ¥25.1B | ¥26.2B | ¥31.9B | ¥29.5B |
| Net Income (owners) | ¥10.6B | ¥8.5B | ¥18.4B | ¥16.6B |
| Minority Interest | ¥546M | ¥1.1B | ¥249M | ¥1.1B |
| Comprehensive Income | ¥7.5B | ¥81.2B | ¥14.0B | ¥74.0B |
| EBITDA | ¥80.9B | ¥81.5B | ¥91.3B | ¥86.0B |
| EPS | ¥21.78 | ¥17.27 | ¥35.89 | ¥32.35 |
| Shares Outstanding | 495.6M | 495.6M | 520.6M | 517.7M |
| Shares Issued (total) | 500.0M | 500.0M | 551.3M | 551.3M |
| Treasury Shares | 4.4M | 4.4M | 30.7M | 33.6M |
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | ¥1,219.5B | ¥1,298.1B | ¥1,233.3B | ¥1,234.6B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | ¥636.7B | ¥636.6B | ¥587.7B | ¥569.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash & Deposits | ¥138.3B | ¥150.6B | ¥160.1B | ¥137.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Assets | ¥582.9B | ¥661.5B | ¥645.6B | ¥664.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PP&E | ¥344.9B | ¥364.9B | ¥385.6B | ¥379.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | ¥17.3B | ¥17.4B | ¥15.5B | ¥14.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | ¥62.7B | ¥54.6B | ¥47.6B | ¥44.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Assets | ¥9.0B | ¥10.3B | ¥15.3B | ¥15.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities | ¥550.4B | ¥620.1B | ¥598.5B | ¥597.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | ¥301.3B | ¥359.1B | ¥307.3B | ¥297.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-Current Liabilities | ¥249.1B | ¥261.0B | ¥291.2B | ¥300.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Tax Liab. | ¥21.4B | ¥21.9B | ¥32.7B | ¥56.1B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Equity | ¥669.2B | ¥678.0B | ¥634.7B | ¥637.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Surplus | ¥78.2B | ¥77.9B | ¥80.5B | ¥80.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained Earnings | ¥375.0B | ¥375.4B | ¥415.7B | ¥410.9B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury Stock | ¥-10.3B | ¥-10.4B | ¥-36.8B | ¥-37.0B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | ¥141.4B | ¥150.3B | ¥89.6B | ¥96.4B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity (owners) | ¥651.5B | ¥660.0B | ¥616.2B | ¥617.8B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minority Interests | ¥17.7B | ¥18.0B | ¥18.5B | ¥19.7B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Cash ⓘ | ¥138.3B | ¥150.6B | ¥160.1B | ¥137.5B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV ⓘ | ¥86.3B | ¥16.5B | ¥-10.9B | ¥-27.2B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NCAV/Share | ¥174 | ¥33 | ¥-21 | ¥-53 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BV/Share | ¥1,315 | ¥1,332 | ¥1,184 | ¥1,193 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metric |
FY 2024
EDINET ↗ |
FY 2023
EDINET ↗ |
FY 2022
EDINET ↗ |
FY 2021
EDINET ↗ |
|---|---|---|---|---|
| Operating CF | ¥82.2B | ¥99.8B | ¥64.2B | ¥22.7B |
| D&A | ¥52.4B | ¥54.1B | ¥58.4B | ¥56.6B |
| Investing CF | ¥-58.8B | ¥-90.8B | ¥-48.8B | ¥-20.0B |
| CapEx | ¥38.1B | ¥49.9B | ¥44.3B | ¥36.1B |
| Financing CF | ¥-33.7B | ¥-24.8B | ¥4.4B | ¥-48.2B |
| Free Cash Flow | ¥44.1B | ¥49.9B | ¥19.9B | ¥-13.3B |
| Net Change in Cash | ¥-12.3B | ¥-9.5B | ¥22.6B | ¥-39.1B |
Event Timeline
S Shareholder
A Capital Signal
Large Shareholder Reports 7
| # | Shareholder | Shares (thou.) | % of Total |
|---|---|---|---|
| 1 |
Japan Master Trust Bank
日本マスタートラスト信託銀行株式会社(信託口)
|
80,351 | 16.19% |
| 2 |
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
|
32,720 | 6.59% |
| 3 |
Meiji Yasuda Life Insurance
明治安田生命保険相互会社
|
27,626 | 5.56% |
| 4 |
Fukoku Mutual Life Insurance
富国生命保険相互会社
|
22,400 | 4.51% |
| 5 |
Nippon Life Insurance
日本生命保険相互会社
|
22,034 | 4.43% |
| 6 |
Mizuho Bank
株式会社みずほ銀行
|
13,658 | 2.75% |
| 7 |
Business Partner Stock Ownership Plan
日本精工取引先持株会
|
11,074 | 2.23% |
| 8 |
Employee Stock Ownership Plan
日本精工社員持株会
|
9,295 | 1.87% |
| 9 | STATE STREET BANK AND TRUSTCOMPANY 505001(常任代理人 株式会社みずほ銀行決済営業部) | 8,584 | 1.72% |
| 10 |
Custody Bank of Japan, Ltd. (Trust Account)
株式会社日本カストディ銀行(信託E口)
|
6,960 | 1.40% |
as of 2025-03-31
Source: EDINET ↗
Ownership by year — hover bars for detail
Domestic Nominees
24.2%
+1.6% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
23.1%
-2.3% vs 2024
Named entities with disclosed investment intent
Bar = % of shares outstanding · top-10 covers 47.2% · grey = other shareholders · 2025
| Shareholder | Trend | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Japan Master Trust Bank 日本マスタートラスト信託銀行 | 17.03% | 15.82% | 16.19% +0.37% | |
| Japan Custody Bank 日本カストディ銀行 | 6.27% | 6.81% | 7.99% +1.18% | |
| Meiji Yasuda Life Insurance 明治安田生命保険 | 5.29% | 5.56% | 5.56% | |
| Fukoku Mutual Life Insurance 富国生命保険相互会社 | 4.29% | 4.51% | 4.51% | |
| Nippon Life Insurance 日本生命保険 | 4.22% | 4.43% | 4.43% | |
| Mizuho Bank みずほ銀行 | 3.49% | 3.66% | 2.75% -0.91% | |
| Business Partner Stock Ownership Plan 日本精工取引先持株会 | 1.90% | 2.06% | 2.23% +0.17% | |
| Employee Stock Ownership Plan 日本精工社員持株会 | 1.66% | 1.80% | 1.87% +0.07% | |
| STATE STREET BANK AND TRUSTCOMPANY 505001 NEW ENTRY | — | — | — | 1.72% NEW |
| Morgan Stanley last seen 2024 | Exited Top 10 | — | 1.68% | — |
| JPモルガン証券 last seen 2024 | Exited Top 10 | — | 1.64% | — |
| トヨタ自動車 last seen 2023 | Exited Top 10 | 1.91% | — | — |
| Concentration (HHI) ⓘ | 416 | 394 | 416 |
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥29,814M
-26% since 2023
Holdings
20
+1 new
9 exited
Trend
3 unwinding
vs 2023
| Held Company | FY2025 ¥29,814M total | FY2023 ¥40,559M total | |||
|---|---|---|---|---|---|
| Book Val ¥M | Shares | Book Val ¥M | Shares | ||
|
NIDEC CORPORATION
ニデック㈱
|
8,162 |
NEW
New
3,275,360
|
— | ||
|
Mizuho Financial Group, Inc.
㈱みずほフィナンシャルグループ
|
4,484 |
-25.0%
↓
1,107,000
|
2,771 | 1,476,000 | M |
| ㈱コンコルディア・フィナンシャルグループ | 3,582 |
3,651,000
|
1,781 | 3,651,000 | M |
|
Mitsubishi UFJ Financial Group, Inc.
㈱三菱UFJフィナンシャル・グループ
|
2,478 |
-50.0%
↓
1,232,500
|
2,090 | 2,465,000 | M |
|
ISUZU MOTORS LIMITED
いすゞ自動車㈱
|
2,389 |
1,185,000
|
1,871 | 1,185,000 | M |
|
Tokyo Tatemono Co., Ltd.
東京建物㈱
|
1,593 |
630,650
|
1,018 | 630,650 | M |
|
THE SHIGA BANK,LTD.
㈱滋賀銀行
|
1,333 |
253,598
|
679 | 253,598 | M |
|
Sompo Holdings, Inc.
SOMPOホールディングス㈱
|
1,152 |
+155.0%
↑
255,000
|
525 | 100,000 | M |
|
taisei corporation
大成建設㈱
|
1,144 |
-50.0%
↓
173,228
|
1,418 | 346,428 | M |
|
The Gunma Bank, Ltd.
㈱群馬銀行
|
980 |
796,000
|
352 | 796,000 | M |
|
OKUMA Corporation
オークマ㈱
|
769 |
+100.0%
↑
225,600
|
666 | 112,800 | M |
|
Makino Milling Machine Co.,Ltd.
㈱牧野フライス製作所
|
746 |
63,964
|
310 | 63,964 | M |
|
NIPPON THOMPSON CO., LTD.
日本トムソン㈱
|
486 |
1,000,000
|
581 | 1,000,000 | M |
|
Central Japan Railway Company
東海旅客鉄道㈱
|
308 |
+400.0%
↑
108,000
|
341 | 21,600 | |
|
nichiden corporation
㈱日伝
|
208 |
+9.9%
↑
72,101
|
124 | 65,595 | M |
|
KYB Corporation
カヤバ㈱
|
— | — | |||
|
Makita Corporation
㈱マキタ
|
— | — | |||
| REE Automotive Ltd. | — | — | |||
|
TOKYO SEIMITSU CO., LTD.
㈱東京精密
|
— | — | |||
|
The Chiba Bank, Ltd.
㈱千葉銀行
|
— | — | M | ||
|
suzuki motor corporation
スズキ㈱
|
— |
−100%
Exit
—
|
2,492 | 518,900 | M |
|
OGURA CLUTCH CO.,LTD.
小倉クラッチ㈱
|
— |
−100%
Exit
—
|
107 | 34,996 | |
|
East Japan Railway Company
東日本旅客鉄道㈱
|
— |
−100%
Exit
—
|
82 | 11,300 | |
|
ISEKI&CO.,LTD.
井関農機㈱
|
— |
−100%
Exit
—
|
23 | 20,000 | M |
|
TOYOTA MOTOR CORPORATION
トヨタ自動車㈱
|
— |
−100%
Exit
—
|
11,483 | 6,108,355 | M |
| 日本電産㈱ | — |
−100%
Exit
—
|
11,209 | 1,637,680 | |
| KYB㈱ | — |
−100%
Exit
—
|
575 | 143,046 | M |
|
West Japan Railway Company
西日本旅客鉄道㈱
|
— |
−100%
Exit
—
|
54 | 10,000 | |
|
TOKYU CORPORATION
東急㈱
|
— |
−100%
Exit
—
|
7 | 4,085 | |
| Portfolio total | 29,814 | 40,559 | |||
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding