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Notice of Transfer of Fixed AssetDecember 13, 2021Press Release

NTN Corporation hereby announces that the transfer of fixed asset has been decided on December 10, 2021.

1. Reason for transfer

The Company has positioned the three-year Medium-term Management Plan “DRIVE NTN100” Phase 2, which started in April 2021, as a period to strengthen its financial position and aims to build a corporate structure that can flexibly respond to changes in the business environment. The Company will further strengthen its financial structure by this transfer as an initiative to utilize the company's asset effectively.

2. Details of transferred asset

(1) Name of asset Land and building of headquarters
(2) Location 1-3-17, Kyomachibori, Nishi-ku, Osaka-shi, Osaka, Japan
(3) Area of land 969.35 m² (site area)
(4) Area of building 7,017.79 m² (total floor space)
(5) Profit of transfer * 3,729 million yen

The transfer price, book value and settlement method and other details will not be disclosed due to the intention of the transferee.

* The profit from the transfer is an approximate amount obtained by deducting the estimated amount of costs related to the transfer from the transfer price and others.

3. Outline of transferee

The transferee is a domestic company. However the Company will not disclose the details due to the intention of the transferee. There are no capital, personal, or business relationships to be noted between the Company and the transferee.

4. Headquarters after the transfer

After the transfer, the Company will rent the building and use it as headquarters.

5. Date of transfer

Date of contract and transfer Scheduled on December 22, 2021

6. Future Prospect

The Company will record about 3,729 million yen of extraordinary income in the third quarter of fiscal year ending March 31, 2022 with this transfer as gain on sales of fixed assets. There is no change in the forecast of consolidated financial results for the fiscal year ending March 31, 2022 announced on October 29, 2021.