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*****For immediate use July 28, 2004

Consolidated Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2005




I. Consolidated Financial Results

  Three months ended June 30, 2004 Three months ended June 30, 2003 % Change
Net sales
Operating income
Income before income taxes
Net income
In billions of yen
1,056.1
16.5
40.3
20.9
In billions of yen
1,030.7
12.0
9.8
0.7
%
+2.5
+37.3
+308.2
-
Net income per share:
    Basic
  Diluted
Yen
 
10.87
10.08
Yen
 
0.42
0.40
Yen
 
+10.45
+9.68

  As of June 30,
2004
As of March 31,
2004
Increase
(Decrease)
Total assets
Shareholders' equity
In billions of yen
3,974.4
721.2
In billions of yen
4,044.3
711.4
%
(1.7)
1.4

***


(Notes)

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. Number of consolidated subsidiaries and affiliated companies accounted for by the equity method is as follows:

  As of June 30,2004 As of March 31,2004 As of June 30,2003
Consolidated subsidiaries
200
195
194
Affiliated companies accounted for by the equity method
44
44
17

Media Contact:

Diane Foley / Makoto Miyakawa
TEL: +81-3-3798-6511

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