Tokyo, May 13 (Jiji Press)–Major Japanese bearing makers NSK Ltd. and NTN Corp. have announced a basic agreement to integrate their operations. The two companies, listed on the Tokyo Stock Exchange’s top-tier Prime section, will establish a joint holding company in October 2027 after obtaining approval from antitrust authorities, according to the announcement Tuesday. NSK and NTN will continue operating under the holding firm. Through the integration, NSK and NTN aim to expand their business scales and improve operational efficiency in an effort to compete better with European and other foreign rivals. Bearings are used in automobiles, industrial machinery and other products. At a press conference in Tokyo on Tuesday, NSK President Akitoshi Ichii said that the NSK and NTN decided on the business integration in order to maintain their competitive power. The name of the holding company will be decided later. The share transfer ratio will be set by the time when the two companies sign a definitive business integration agreement in autumn this year. The president of the holding company will be appointed by NSK. END [Copyright The Jiji Press, Ltd.]
Japanese Bearing Makers NSK, NTN to Integrate Biz in Oct. 2027
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