NSK’s dependence on the auto industry negatively impacted sales in recent years
Declines in automotive production negatively affected NSK revenue in 2020. The automotive segment accounted for 60.1% of total sales in 2020. Revenue from the automotive bearings segment declined to $1.9 billion in 2020. Sales in Japan have steadily declined in line with falling car production volumes, which fell by 16.4% to 7.0 million in 2020, according to Statista. Conversely, sales in China continue increased alongside Chinese automotive production in 2020. The company’s exposure to automotive production may reduce given the company’s weak performance in recent years. The current supply chain shortage presents an opportunity to expand the company’ growing industrial machinery business.
Balance Sheet|New Activity|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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