NEWS

Notice regarding Absorption Merger of Consolidated Subsidiaries (Simplified Merger, Short-form Merger) from NTN

<p> <p class="mb05" style="text-align:center;margin-top:0px;padding:0px;line-height:1.85em;"> <img src="/membcentre/editor/attached/image/20180410/20180410093833_23057.jpg" alt="" /> </p> <p class="mb05" style="margin-top:0px;padding:0px;line-height:1.85em;"> At the board of directors meeting held on March 23, NTN Corporation (hereafter, NTN) resolved to merge three consolidated subsidiaries (NTN Kongo Corporation, NTN Mikumo Company Limited and NTN Engineering Plastics Corporation), which are consolidated subsidiaries wholly owned by NTN. The details are as follows. </p> <p class="mb05" style="margin-top:0px;padding:0px;line-height:1.85em;"> As this merger is a simplified absorption-type merger for consolidated subsidiaries, some disclosure items and details are omitted. </p> </p> <div class="section" style="margin:0px 0px 30px 15px;padding:0px;clear:both;width:660px;font-family:Meiryo, Osaka, sans-serif;font-size:15px;line-height:normal;white-space:normal;background-color:#FFFFFF;"> <h3 class="head2" style="margin:0px 0px 12px;padding:0px 0px 10px;font-size:15px;clear:both;background:url(http://www.ntnglobal.com/en/images/head2_bg.gif) 0% 100% no-repeat;"> 1. Purpose of the merger </h3> <p class="mb05" style="margin-top:0px;padding:0px;line-height:1.85em;"> NTN has decided to absorb the consolidated subsidiaries in order to enhance the efficiency of management of the Group and make effective use of management resources while speeding up decision-making. </p> </div> <div class="section" style="margin:0px 0px 30px 15px;padding:0px;clear:both;width:660px;font-family:Meiryo, Osaka, sans-serif;font-size:15px;line-height:normal;white-space:normal;background-color:#FFFFFF;"> <h3 class="head2" style="margin:0px 0px 12px;padding:0px 0px 10px;font-size:15px;clear:both;background:url(http://www.ntnglobal.com/en/images/head2_bg.gif) 0% 100% no-repeat;"> 2. Summary of the merger </h3> <p class="num_title" style="margin-top:0px;margin-bottom:0px;padding:0px 0px 0px 2em;line-height:1.85em;text-indent:-2em;"> (1) Schedule for the merger </p> <ul class="num_note mb1em" style="margin:0px 0px 1em 3em;padding:0px;list-style:none;line-height:1.85em;"> <li style="margin:0px;padding:0px;"> <div class="left" style="margin:0px;padding:0px;float:left;width:23em;"> Date of the board of director's resolution </div> <div class="right" style="margin:0px;padding:0px;float:left;"> March 23, 2018 </div> <div style="margin:0px;padding:0px;clear:left;"> </div> </li> <li style="margin:0px;padding:0px;"> <div class="left" style="margin:0px;padding:0px;float:left;width:23em;"> Date of concluding a merger agreement </div> <div class="right" style="margin:0px;padding:0px;float:left;"> March 23, 2018 </div> <div style="margin:0px;padding:0px;clear:left;"> </div> </li> <li style="margin:0px;padding:0px;"> <div class="left" style="margin:0px;padding:0px;float:left;width:23em;"> Effective date of merger </div> <div class="right" style="margin:0px;padding:0px;float:left;"> October 1, 2018<br style="margin:0px;padding:0px;" /> (scheduled) </div> <div style="margin:0px;padding:0px;clear:left;"> </div> </li> </ul> <p class="num_note num_mark mb1em" style="margin-top:0px;margin-bottom:1em;margin-left:2em;padding:0px 0px 0px 1.5em;line-height:1.85em;text-indent:-1.5em;"> * This merger will be a simplified merger under Article 796, Paragraph 2 of the Company Act and a short-form merger as stipulated in Article 784, Paragraph 1 of the Company Act for the corresponding consolidated subsidiaries. Therefore, no general meeting of shareholders will be held at any of the consolidated subsidiaries to obtain approval for the merger agreement. </p> <p class="num_title" style="margin-top:0px;margin-bottom:0px;padding:0px 0px 0px 2em;line-height:1.85em;text-indent:-2em;"> (2) Method of the merger </p> <p class="num_note mb1em" style="margin-top:0px;margin-bottom:1em;margin-left:2em;padding:0px;line-height:1.85em;"> The consolidated subsidiaries will be dissolved via the absorption merger method with NTN as the surviving company. </p> <p class="num_title" style="margin-top:0px;margin-bottom:0px;padding:0px 0px 0px 2em;line-height:1.85em;text-indent:-2em;"> (3) Allocation pertaining to the merger </p> <p class="num_note mb1em" style="margin-top:0px;margin-bottom:1em;margin-left:2em;padding:0px;line-height:1.85em;"> Since NTN owns all of the outstanding shares of the consolidated subsidiaries, no shares or other money will be allocated at the time of the merger. </p> <p class="num_title" style="margin-top:0px;margin-bottom:0px;padding:0px 0px 0px 2em;line-height:1.85em;text-indent:-2em;"> (4) Treatment of stock acquisition rights and bonds with stock acquisition rights accompanying the merger </p> <p class="num_note" style="margin-top:0px;margin-bottom:0px;margin-left:2em;padding:0px;line-height:1.85em;"> Not applicable. </p> </div> <div class="section" style="margin:0px 0px 30px 15px;padding:0px;clear:both;width:660px;font-family:Meiryo, Osaka, sans-serif;font-size:15px;line-height:normal;white-space:normal;background-color:#FFFFFF;"> <h3 class="head2" style="margin:0px 0px 12px;padding:0px 0px 10px;font-size:15px;clear:both;background:url(http://www.ntnglobal.com/en/images/head2_bg.gif) 0% 100% no-repeat;"> 3. Overview of the companies involved in the merger (as of March 31, 2017) </h3> <table class="company mb30" style="margin:0px 0px 30px;padding:0px;width:660px;"> <tbody style="margin:0px;padding:0px;"> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;">   </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;text-align:center;"> Surviving company </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;text-align:center;"> Dissolving company 1 </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (1) Name </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> NTN Corporation </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> NTN Kongo Corporation </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (2) Address </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> 1-3-17 Kyomachibori, Nishi-ku, Osaka-shi </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> 1-3-13 Kidonishi-cho, Kawachinagano-shi, Osaka Prefecture </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (3) Title and name of representative </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> President Hiroshi Ohkubo </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> President Kazuhiko Yamanaka </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (4) Line of business </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> Manufacture and sale of bearings, driveshafts, and precision equipments </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> Manufacture of bearings </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (5) Common stock </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> 54,346 million yen </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> 1,000 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (6) Date of establishment </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> March 19, 1934 </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> January 21, 1978 </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (7) Number of outstanding shares </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> 532,463,527 </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> 2,000,000 </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (8) Settlement period </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> March 31 </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> March 31 </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (9) Major shareholders and shareholding ratio </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> <ul class="list_basic" style="margin:0px;padding:0px 0px 0px 15px;font-size:15px;line-height:1.85em;"> <li style="margin:0px 0px 0px 3px;padding:0px;"> The Master Trust Bank of Japan, Ltd. (trust account)  7.2% </li> <li style="margin:0px 0px 0px 3px;padding:0px;"> Japan Trustee Services Bank, Ltd. (trust account)  4.7% </li> <li style="margin:0px 0px 0px 3px;padding:0px;"> The Dai-ichi Life Insurance Co., Ltd.  4.3% </li> <li style="margin:0px 0px 0px 3px;padding:0px;"> Meiji Yasuda Life Insurance Company  4.2% </li> <li style="margin:0px 0px 0px 3px;padding:0px;"> The Bank of Tokyo-Mitsubishi UFJ, Ltd.  4.0% </li> </ul> </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> NTN Corporation  100.0% </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" colspan="3" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:615px;vertical-align:top;text-indent:-2em;"> (10) Financial condition and operating results for most recent fiscal year </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Settlement period </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;text-align:center;"> Fiscal year ended March 31, 2017 (consolidated) </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;text-align:center;"> Fiscal year ended March 31, 2017 (non-consolidated) </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Net assets </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 245,050 million yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 12,753 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Total assets </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 798,891 million yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 17,792 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Net assets per share </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 431.66 yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 6,376.50 yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Net sales </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 683,328 million yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 19,313 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Operating income </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 35,622 million yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 1,973 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Ordinary income </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 29,604 million yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 1,994 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Net income (attributable to parent company shareholders) </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 2,830 million yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 1,374 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Net income per share </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 5.33 yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 687.12 yen </td> </tr> </tbody> </table> <table class="company" style="margin:0px;padding:0px;width:660px;"> <tbody style="margin:0px;padding:0px;"> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;">   </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;text-align:center;"> Dissolving company 2 </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;text-align:center;"> Dissolving company 3 </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (1) Name </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> NTN Mikumo Company Limited </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> NTN Engineering Plastics Corporation </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (2) Address </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> 750-1 Onoe-cho, Matsusaka-shi, Mie Prefecture </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> 1-3-17 Kyomachibori, Nishi-ku Osaka-shi </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (3) Title and name of representative </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> President Tadao Okamura </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> President Toshihiro Murei </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (4) Line of business </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> Manufacture of bearings, precision equipments, etc. </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> Manufacture of bearings, precision equipments, etc. </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (5) Common stock </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> 450 million yen </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> 100 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (6) Date of establishment </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> November 22, 1988 </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> October 5, 1965 </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (7) Number of outstanding shares </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> 9,000 </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> 200,000 </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (8) Settlement period </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> March 31 </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> March 31 </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:200px;vertical-align:top;text-indent:-2em;"> (9) Major shareholders and shareholding ratio </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> NTN Corporation  100.0% </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;"> NTN Corporation  100.0% </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="header" colspan="3" style="margin:0px;padding:2px 5px 2px 2.5em;line-height:2em;border:1px solid black;width:615px;vertical-align:top;text-indent:-2em;"> (10) Financial condition and operating results for most recent fiscal year </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Settlement period </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;text-align:center;"> Fiscal year ended March 31, 2017 (non-consolidated) </td> <td class="item" style="margin:0px;padding:2px 5px;line-height:2em;border:1px solid black;width:230px;vertical-align:top;text-align:center;"> Fiscal year ended March 31, 2017 (non-consolidated) </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Net assets </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 7,050 million yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 4,675 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Total assets </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 11,148 million yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 7,272 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Net assets per share </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 783,407.66 yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 23,376.58 yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Net sales </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 11,414 million yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 5,241 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Operating income </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 1,049 million yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 498 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Ordinary income </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 1,103 million yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 533 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Net income </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 767 million yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 352 million yen </td> </tr> <tr style="margin:0px;padding:0px;"> <td class="sub_header" style="margin:0px;padding:2px 5px 2px 15px;line-height:2em;border:1px solid black;width:200px;vertical-align:top;"> Net income per share </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 85,302.33 yen </td> <td class="item_money" style="margin:0px;padding:2px 25px 2px 5px;line-height:2em;border:1px solid black;width:230px;text-align:right;vertical-align:top;"> 1,760.45 yen </td> </tr> </tbody> </table> </div> <div class="section" style="margin:0px 0px 30px 15px;padding:0px;clear:both;width:660px;font-family:Meiryo, Osaka, sans-serif;font-size:15px;line-height:normal;white-space:normal;background-color:#FFFFFF;"> <h3 class="head2" style="margin:0px 0px 12px;padding:0px 0px 10px;font-size:15px;clear:both;background:url(http://www.ntnglobal.com/en/images/head2_bg.gif) 0% 100% no-repeat;"> 4. Situation after the merger </h3> <p class="mb05" style="margin-top:0px;padding:0px;line-height:1.85em;"> There will be no change to the company name, address, title and name of the representative, line of business, capital or settlement period due to the merger. </p> </div> <div class="section" style="margin:0px 0px 30px 15px;padding:0px;clear:both;width:660px;font-family:Meiryo, Osaka, sans-serif;font-size:15px;line-height:normal;white-space:normal;background-color:#FFFFFF;"> <h3 class="head2" style="margin:0px 0px 12px;padding:0px 0px 10px;font-size:15px;clear:both;background:url(http://www.ntnglobal.com/en/images/head2_bg.gif) 0% 100% no-repeat;"> 5. Future prospects </h3> <p class="mb05" style="margin-top:0px;padding:0px;line-height:1.85em;"> The merger will have only a minor impact on NTN's consolidated financial results. </p> </div>

10 Apr,2018