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FY 2011 comparison of Results to Previous Forecast

12 May 2011

Following approval of the annual results at a meeting of the Board of Directors on 12 May, the NSG Group has today released the Company's consolidated financial results for the year to 31 March 2011 (1 April 2010 to 31 March 2011).

The results for the year to 31 March 2011 differ from the previous forecast, initially issued on 5 August 2010, as set out below.

1. Comparison of actual results and previous forecast results

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2. Reason for the difference

Operating income was consistent with the previous forecast except for the effect of the Japan earthquake and tsunami, which reduced profits, particularly in the Group's Automotive division, towards the end of the year. Ordinary income was then further impacted by higher than previously anticipated non-operating items. Net income benefited from an improvement in the Group's taxation charge, resulting in net income being higher than previously forecast.