Boosting competitiveness with enhanced R&D function and increased local sourcing NTN Corporation (hereafter, NTN) makes strategic investments in the Bawal Plant of its consolidated subsidiary, NTN NEI Manufacturing India Private Limited (hereafter, NNMI), to accelerate business growth in the Indian market and enhance global competitiveness. These investments focus on localizing the procurement of internal components for Constant Velocity Joints (hereafter, CVJs) and establishing a local R&D system. The Indian market has been experiencing rapid growth not only in the automotive sector but also across various industrial machinery fields such as steel, energy, and construction machinery. As one of the world's fastest-growing economies, India represents a highly promising and strategically important market for NTN. In particular, the automotive sector is experiencing an increase in passenger car sales, along with advancements in electrification and higher efficiency, which are driving higher engineering requirements for automotive components such as CVJs. As a result, strengthening local development and supply systems has become an urgent priority. NTN began operations in India in 2005 and has been supplying CVJs and axle bearings for automobiles, as well as bearings for industrial machinery, to the Indian market. CVJs are manufactured at NNMI's two plants located in Bawal and Chennai, and we have steadily expanded our market share primarily by supplying Japanese automotive manufacturers.

In India, NTN supplies bearings not only for the automotive sector but also for industrial machinery, including railway rolling stock, wind turbines, and machine tools, with demand expanding across these fields. In particular, the railway sector is seeing a growing need for insulated bearings as a countermeasure against electrical pitting. NTN's “MEGAOH Series” is gaining attention for its excellent insulation performance. These technologies are also applicable to EV motors, and further market expansion is expected in the future. NTN remains committed to strengthen its competitiveness by enhancing cost efficiency, lead times, and engineering services. At the same time, we will promote the development and supply of high-value-added products that meet engineering requirements such as higher efficiency and lightweight design. Through these efforts, we aim to further expand our business in India and contribute to the advancement of sustainable mobility and diverse industrial machinery sectors.