NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Akitoshi Ichii) entered into formal collective consultation with the union and elected representatives on a proposal to withdraw production from its European manufacturing subsidiaries’, NSK Bearings Europe Ltd. and NSK Precision UK Ltd., Newark-on-Trent sites in Nottinghamshire, East Midlands (hereafter referred to as “the Site”). NSK is advancing structural reforms in its European operations. Due to persistent challenges in the profitability of locally manufactured products in Europe, NSK has been implementing measures such as withdrawing from unprofitable businesses and reorganizing production sites. The proposed withdrawal of production from the Site is part of these ongoing structural reforms. Going forward, NSK will engage in careful consultations with all relevant stakeholders regarding the potential withdrawal. If closure proceeds, we envisage this would be no later than March 2027 and NSK will implement all necessary measures to support all circa 220 employees who may be affected. At this point in time, it is difficult to provide a reliable quantitative forecast regarding the impact of this matter on our business performance. We will conduct a thorough assessment and communicate the results promptly once the extent of the impact has been clarified. Under Section 139 of the Employment Rights Act 1996, and Section 188 of the Trade Union and Labour Relations Act 1992, in the United Kingdom, it is stipulated that consultation on the proposal for redundancies and the reason for consideration with a recognized independent Trade Union is required, when proposing 20 or more redundancies at one establishment over a period of 90 days or less. ◆Overview of site Location: Newark-On-Trent, Nottinghamshire, East Midlands NSK Bearings Europe Ltd. – Newark Plant Manufactured Products: Precision bearings Year of Establishment: 1900 (Acquired by NSK from the UPI Group in 1990) Number of Employees: 219 NSK Precision UK Ltd. Manufactured Products: Precision machinery and parts Year of Establishment: 2003 (Spun-off from NSK Bearings Europe Ltd.) Number of Employees: 0 (All employees employed by NSK Bearings Europe Ltd.) ? ■ About NSK NSK produced the first bearings in Japan in 1916 and over the past 100 years, it has supported the development of industries worldwide by creating various innovative products and technologies in bearings, automotive parts, and precision machinery. Since the early 1960s, the company has expanded overseas and now has operations in about 30 countries. It ranks third in the world in the field of bearings and leads the world in ball screws, electric power steering, and other products.
