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Home > News Room > NEC to Sell Anritsu Corporation Shares

NEC to Sell Anritsu Corporation Shares


*** For immediate use February 23, 2011

Tokyo, February 23, 2011 - NEC Corporation (NEC; TSE: 6701) announced today a decision to sell Anritsu Corporation (Anritsu; TSE:6754) shares that were contributed to the NEC employee retirement benefit trust. The sale will be carried out with the consent of the trust administrator.

After the sale, voting rights for NEC and its subsidiaries in Anritsu will be 6.9%. As a result, Anritsu will no longer be an NEC affiliate accounted for by the equity method.

1) Number of shares to be sold

19,200 thousand shares:
Ordinary shares, which NEC has contributed to the employee retirement benefit trust.

2) Change in number of shares and voting right ratio


Stock Name
Number of Shares Voting Right Ratio
Before Sale Sale After Sale Before Sale After Sale
Anritsu Shares
NEC
Benefit Trust
Subsidiary's Trust
Thousand Shares
8,312
19,200
427
Thousand Shares
-
19,200
-
Thousand Shares
8,312
-
427
%
6.6
15.1
0.3
%
6.6
-
0.3
Total 27,939 19,200 8,739 22.0 6.9

* The Voting rights ratio is determined based on the total number of voting rights as of September 30, 2010

3) Underwriter and sale method of shares

Daiwa Securities Capital Markets Co. Ltd. and others will underwrite all shares.

4) Scheduled date of sale

Early March 2011

5) Sale price

To be decided sometime between March 2, 2011 and March 7, 2011.

6) Effect on NEC's business results

The effect of the share sale has been factored into the consolidated financial forecasts for the fiscal year ending March 31, 2011, previously disclosed on January 27, 2011. NEC will disclose the amount of the effect on NEC’s business results as appropriate after determination of the sale price of the shares.

***



About NEC Corporation
NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. By providing a combination of products and solutions that cross utilize the company's experience and global resources, NEC's advanced technologies meet the complex and ever-changing needs of its customers. NEC brings more than 100 years of expertise in technological innovation to empower people, businesses and society. For more information, visit NEC at http://www.nec.com.


NEC is a registered trademark of NEC Corporation. All Rights Reserved. Other product or service marks mentioned herein are the trademarks of their respective owners. (C)2011 NEC Corporation.




CAUTIONARY STATEMENTS

This material contains forward-looking statements pertaining to strategies, financial targets, technology, products and services, and business performance of NEC Corporation and its consolidated subsidiaries (collectively "NEC"). Written forward-looking statements may appear in other documents that NEC files with stock exchanges or regulatory authorities, such as the Director of the Kanto Finance Bureau, and in reports to shareholders and other communications. NEC is relying on certain safe-harbors for forward-looking statements in making these disclosures. Some of the forward-looking statements can be identified by the use of forward-looking words such as "believes," "expects," "may," "will," "should," "seeks," "intends," "plans," "estimates," "targets," "aims," or "anticipates," or the negative of those words, or other comparable words or phrases. You can also identify forward-looking statements by discussions of strategy, beliefs, plans, targets, or intentions. Forward-looking statements necessarily depend on currently available assumptions, data, or methods that may be incorrect or imprecise and NEC may not be able to realize the results expected by them. You should not place undue reliance on forward-looking statements, which reflect NEC's analysis and expectations only. Forward-looking statements are not guarantees of future performance and involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. Among the factors that could cause actual results to differ materially from such statements include (i) global economic conditions and general economic conditions in NEC's markets, (ii) fluctuating demand for, and competitive pricing pressure on, NEC's products and services, (iii) NEC's ability to continue to win acceptance of NEC's products and services in highly competitive markets, (iv) NEC's ability to expand into foreign markets, such as China, (v) regulatory change and uncertainty and potential legal liability relating to NEC's business and operations, (vi) NEC's ability to restructure, or otherwise adjust, its operations to reflect changing market conditions, (vii) movement of currency exchange rates, particularly the rate between the yen and the U.S. dollar, (viii) the impact of unfavorable conditions or developments, including share price declines, in the equity markets which may result in losses from devaluation of listed securities held by NEC, and (ix) impact of any regulatory action or legal proceeding against NEC. Any forward-looking statements speak only as of the date on which they are made. New risks and uncertainties come up from time to time, and it is impossible for NEC to predict these events or how they may affect NEC. NEC does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events, or otherwise.
The management targets included in this material are not projections, and do not represent management's current estimates of future performance. Rather, they represent targets that management will strive to achieve through the successful implementation of NEC's business strategies.
Finally, NEC cautions you that the statements made in this material are not an offer of securities for sale. Securities may not be offered or sold in any jurisdiction in which required registration is absent or an exemption from registration under the applicable securities laws is not granted.

NEC Press Contact (Japan)

Kosuke Yamauchi
NEC Corporation
+81-3-3798-6511
E-Mail:k-yamauchi@ce.jp.nec.com

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