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NEC Electronics Corporation Commences Operation
TOKYO, November 1, 2002
NEC Electronics Corporation today announced that it has separated from NEC Corporation by way of corporate separation (kaisha bunkatsu), and is now a wholly-owned subsidiary dedicated to providing semiconductor solutions to customers worldwide.
Kaoru Tosaka, the former president of NEC Electron Devices, was appointed president of NEC Electronics at the company's board meeting held in Japan earlier today. Joining him to manage the new company are Kyoji Yamamoto and Hirokazu Hashimoto, Executive Vice Presidents and Members of the Board; board member Shunichi Suzuki; and corporate auditors Jiro Takashima, Akio Kurosaka and Tomio Nakano.
"Our long operating history, industry expertise and technical capabilities allow us to offer customers a broad range of solutions to meet their specific needs, from designing, developing, manufacturing and servicing of custom semiconductors to providing a discrete semiconductor solution" said Mr. Tosaka, "We intend to further advance our leading position as an innovative global provider of complex integrated circuit solutions by developing a dynamic business model that will enable us to react quickly to customer and market requirements."
NEC Electronics Corporation has the following core strengths: 1) the ability to provide advanced technologies and highly reliable products developed through its vertically-integrated company structure, 2) extensive system knowledge in specific applications such as automotive, mobile handsets, DVDs and digital still cameras, and 3) a global sales network. Leveraging these strengths, the company will aim to become a semiconductor solutions provider that meets the expectations of its customers.
The new company has established three business development operations units to better promote these strengths. The first development operations unit will provide advanced technology solutions, targeting high-end applications such as servers and workstations. The second development operations unit will provide system solutions for applications including mobile handsets, PC peripherals, automotive and digital consumer products. The third development operations unit will provide platform solutions through which the company can offer a diverse range of semiconductor products including MCUs, gate arrays, SRAMs, and discrete semiconductors.
About NEC Electronics Corporation
NEC Electronics Corporation is a wholly-owned subsidiary of NEC Corporation, one of the world's leading providers of Internet, broadband network and enterprise business solutions. NEC Electronics specializes in semiconductor products encompassing advanced technology solutions for the broadband and communications markets, system solutions for the mobile handsets, PC peripherals, automotive and digital consumer markets, and platform solutions for a wide range of customer applications. NEC Electronics Corporation has 24 subsidiaries worldwide including NEC Electronics America, Inc. and NEC Electronics (Europe) GmbH. For additional information, visit the company's website at http://www.necel.com.
Outline of NEC Electronics Corporation
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Outline of NEC Electronics Corporation
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| Company name: |
NEC Electronics Corporation |
| Incorporation: |
November 1, 2002 |
| President: |
Kaoru Tosaka |
| Major operations: |
Research and development, manufacturing, sales and services of semiconductors
(except for general-purpose DRAMs) |
| Head office: |
Kawasaki City, Kanagawa Prefecture, Japan |
| Stated Capital: |
50 billion yen |
| Number of shares to be issued at the time of establishment: |
100 million shares of common stock |
| Net sales: |
Approximately 700 billion yen |
| Employees: |
24, 000
Japan - 18,800
Overseas - 5,200 |
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