Jtekt to sell European needle roller bearing business

Jtekt Corporation (TSE:6473) announced it has entered into a share transfer agreement with AEQUITA Group for the sale of its European needle roller bearing (NRB) business, including three subsidiary companies. The sale, which is subject to regulatory approvals and audit procedures, aligns with Jtekt's restructuring plan to improve profitability in the European market. The transaction is expected to close in July 2025. As a result of this sale, Jtekt anticipates recording a loss of ¥13 billion (other expenses) in its consolidated financial results and a ¥23 billion (extraordinary loss) in its individual financial results for the fiscal year ending March 2025, which has already been factored into the earnings forecast announced in January 2025. After the deal Jtekt's shareholding in the NRB companies will drop to 0%.