Notice Concerning Partial Refunding of Retirement Benefit Trust from NSK

NSK has established a stock-based retirement benefit trust for the purpose of providing for future retirement benefits. The asset for retirement benefits including the retirement benefit trust is overfunded relative to the liability for retirement benefits, and this situation is expected to continue in the future. Therefore, it has been decided that the Company will receive a partial refund of the retirement benefit trust.

1. Date of refund

　February 7, 2025 (scheduled)

2. Amount to be refunded

　70 billion yen

3. Impact on profit and loss

　As a result of the refund, a portion of unrecognized actuarial gains and losses arising from changes in the amount of trust assets will be temporarily amortized, and we expect to record an extraordinary gain of approximately 33 billion yen in our non-consolidated financial statements for the fiscal year ending March 31, 2025. (There will be no impact on the consolidated statement of income for the fiscal year ending March 31, 2025.)

　The amount of extraordinary gains related to the partial refund of the retirement benefit trust will be determined at the time of the refund and may change in the future.