Press Release
*****For immediate use October 1st, 2002
NEC Plasma Display Corporation Begins Operation
TOKYO, October 1, 2002 - As part of the NEC Group business reorganization announced in May, NEC Corporation ("NEC") (NASDAQ: NIPNY, FTSE: 6701q.l, TSE: 6701) today announced that as of October 1, 2002, the color plasma display panel (PDP) business of NEC and NEC Kagoshima, Ltd. ("NEC Kagoshima"), a wholly owned subsidiary of NEC, will be separated from NEC and NEC Kagoshima, respectively, and transferred to NEC Plasma Display Corporation.
By consolidating all the necessary functions of product development, manufacturing, and sales and marketing into one specialist color PDP company, NEC Plasma Display Corporation believes it can manage its business with greater effectiveness. To strengthen its global competitiveness, NEC Plasma Display Corporation will optimize its financial structure by proactively acquiring external capital, and further improve customer satisfaction by concentrating on developing new technology and expanding its manufacturing capacity.
Outline of NEC Plasma Display Corporation
| Company name: |
NEC Plasma Display Corporation |
| Date of business transfer: |
October 1, 2002 |
| President: |
Satoshi Nakaichi |
| Head office: |
Minato ward, Tokyo, Japan |
| Location of factory: |
Kagoshima prefecture, Japan |
| Stated Capital: |
10 billion yen |
| Net sales: |
Approximately 60 billion yen |
| Employees: |
Approximately 1,100 |
| Business Area: |
R&D, manufacturing, sales, marketing and servicing of plasma displays |
NEC Plasma Display Corporation Board of Directors, Corporate Auditors and Company Officers
| Position at the new company |
Name |
Current Position |
| President |
Satoshi Nakaichi |
Associate Senior Vice President, NEC Electron Devices and Executive General Manager, Color PDP Operations Unit, NEC Electron Devices, of NEC |
| Member of the Board |
Shunichi Suzuki |
Senior Vice President and Member of the Board of NEC |
| Member of the Board |
Takayuki Morita |
General Manager, Business Development Division of NEC |
| Corporate Auditor |
Tomoyuki Katoh |
Associate Senior Vice President of NEC |
| Corporate Auditor |
Hideo Arai |
General Manager, Corporate Controller Division of NEC Facilities, Ltd. |
| Associate Senior Vice President |
Kouichirou Inoue |
Associate Senior Vice President, NEC Electron Devices, of NEC |
| Associate Senior Vice President |
Yasuo Akatsuka |
General Manager, Color PDP Division, NEC Electron Devices, of NEC |
| Associate Senior Vice President |
Kenji Yoshii |
Senior Vice President and Member of the Board of NEC Kagoshima |
| Associate Senior Vice President |
Fumio Kubota |
Member of the Board of NEC Kagoshima |
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