NTN Corporation revised consolidated earning guidance for the fiscal year ending March 31, 2024. For the year, the company expects net sales of JPY 830,000 million, operating income of JPY 25,000 million, profit attributable to owners of parent of JPY 9,000 million and net income per share of JPY 16.95 against previous guidance of net sales of JPY 825,000 million, operating income of JPY 30,000 million, profit attributable to owners of parent of JPY 11,000 million and net income per share of JPY 20.72. Reasons for revision: The company expects that the net sales will exceed the previous forecast due to the impact of foreign exchange rates while the sales volume will decrease due to factors such as reduction in sales for industrial machinery market in addition to automotive market mainly in Japan, Europe and China, and effects of the earthquake which struck Noto Peninsula, Ishikawa, Japan.

On the other hand, The company expects that operating income, ordinary income, and profit attributable to owners of parent will be below the previous forecast due to the significant impact of the decrease in sales volume, despite the impact of foreign exchange rates. The company assume that the exchange rate to be USD 1 = JPY 140 and EUR 1= JPY 155 from the first quarter.