KAWASAKI, Japan, July 24, 2003 -
NEC Electronics Corporation (President: Kaoru Tosaka, Code No. 6723) announced today that it has completed an initial public offering on the Tokyo Stock Exchange.
Going public has been a goal of NEC Electronics since it became an independent entity on November 1, 2002, when it was separated from NEC Corporation. The aims of the IPO are to give NEC Electronics the organizational independence and financial strength to accelerate the implementation of restructuring initiatives and to secure access to capital markets.
Following the IPO, NEC Electronics intends to further strengthen its financial stability and fulfill its social responsibilities as a public company.
Please see the Supplementary Information for an outline of NEC Electronics Corporation.
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This press release does not represent a solicitation to purchase securities in the U.S. issued by the company. The solicitation and sale of securities issued by the company are not permitted in the U.S., other than in cases where the securities have been registered under the U.S. Securities Act of 1933 or have been exempted from the registration requirement. An English-language prospectus will be prepared in cases where securities are to be offered in the U.S. The prospectus will contain detailed information on the issuing company and its management team, as well as financial statements. NEC Electronics has no intention of registering these securities under the U.S. Securities Act of 1933 for sale in the U.S.
Information in the press releases, including product prices and
specifications is current on the date of the press announcement,
but is subject to change without prior notice.
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