NEC 2009 Annual Report Download - page 2

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01 FINANCIAL HIGHLIGHTS
02 TO OUR SHAREHOLDERS
04 MANAGEMENT PERSPECTIVES ON BUSINESS STRATEGIES
MESSAGE FROM THE PRESIDENT
11 PERFORMANCE BY SEGMENT
12 AT A GLANCE
14 IT SERVICES BUSINESS
15 IT PRODUCTS BUSINESS
16 NETWORK SYSTEMS BUSINESS
17 SOCIAL INFRASTRUCTURE BUSINESS
18 PERSONAL SOLUTIONS BUSINESS
19 ELECTRON DEVICES BUSINESS
20 R&D AND INTELLECTUAL ASSETS STRATEGY
24 CORPORATE GOVERNANCE
29 NEC’S CORPORATE SOCIAL RESPONSIBILITY
32 FINANCIAL SECTION
126 INVESTOR INFORMATION
127 CORPORATE OVERVIEW
CONTENTS
CAUTIONARY STATEMENTS:
This annual report 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 state-
ments 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) regula-
tory 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 pro-
ceeding 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 annual report 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 annual report 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.