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*****For immediate use January 31th, 2002

Consolidated Financial Results for the Third Quarter of The Fiscal Year Ending March 31, 2002




I.Consolidated Financial Results
  Three months ended December 31, 2001 Three months ended December 31, 2000 Increase(Decrease)
 
Net sales
Operating income (loss)
Income (loss) before income taxes
Net income (loss)
In billions of yen
yen1,125.0
(64.2)
(253.0)
(155.0)
In billions of yen
yen1,242.9
28.3
5.4
8.3
%
(9.5)
-
-
-
 
Per share of common stock:
Net income (loss):
Basic:
Diluted:
Yen
 
 
yen (93.73)
(93.73)
Yen
 
 
yen5.06
4.81
Yen
 
 
yen (98.79)
(98.54)

  Nine months ended December 31, 2001 Nine months ended December 31, 2000 Increase(Decrease)
 
Net sales
Operating income (loss)
Income (loss) before income taxes
Income (loss) before cumulative effect of accounting change
Net income (loss)
In billions of yen
yen3,593.1
(58.9)
(287.3)
(182.3)
 

(184.9)
In billions of yen
yen3,721.2
103.0
40.9
28.8
 

28.8
%
(3.4)
-
-
-

 
-
 
Per share of common stock:
 Income (loss) before cumulative effect of accounting change:
  Basic:
  Diluted:
 Net income(loss):
  Basic:
  Diluted:
Yen
 

 

yen(110.22)
(110.22)
 
(111.79)
(111.79)
Yen
 

 

yen17.63
16.82
 
17.63
16.82
Yen
 

 

yen (127.85)
(127.04)
 
(129.42)
(128.61)

  As of December 31, 2001 As of March 31, 2001 Increase(Decrease)
 
Total assets
Shareholder equity
In billions of yen
yen5,248.1
707.6
In billions of yen
yen4,823.6
915.0
%
8.8
(22.7)

***


Note:

1. The consolidated financial statements of NEC are prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP
2. Operating income (loss) is displayed in conformity with the accounting principles generally accepted in Japan.

CAUTIONARY STATEMENTS:

The above forecasts in this material are forward-looking statements involving risks and uncertainties. The important factors that could cause actual results to differ materially from such statements include, but are not limited to, general economic conditions in NEC's markets, which are primarily Japan, North America, Asia and Europe; demand for, and competitive pricing pressure on, NEC's products in the marketplace; NEC's ability to continue to win acceptance of its products and services in highly competitive markets; and movements in currency exchange rates, particularly the rate between the yen and the U.S. dollar in which NEC makes significant sales. Among other factors, a worsening of the world economy affected by the terrorist attacks in the United States on September 11th, 2001, a continuing worsening of financial conditions in the U.S., Japanese, European and/or Central and South American markets, and/or a worsening of the ongoing downturn in the IT (Information Technology) related markets, would cause actual results to differ from the projected results described above.

In case where the information contained in this press release falls within the definition of "Material Information" under Paragraph 2 of Article 166 of the Securities and Exchange Law of Japan, if you (and directors or employees of your company if the content of this press release comes to their knowledge in connection with their duty) read this press release before the time of "Publication" (which is defined under the Securities and Exchange Law of Japan and its Enforcement Ordinance as twelve hours after its release; i.e., approximately 3:00 am on February 1, 2002 (JST)), you (and directors or employees of your company if the content of this press release comes to their knowledge in connection with their duty) may be prohibited from purchasing, selling, or making other transactions of shares of stock or other securities of NEC Corporation before the time of Publication.


Media Contact:

Daniel Mathieson 
TEL: +81-3-3798-6511

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