NEC Corporation : Consolidated Financial Results for the Nine Months Ended December 31, 2011

*** For immediate use January 26, 2012

Consolidated Financial Results

	Nine Months Ended December 31, 2010	Nine Months Ended December 31, 2011	Change
Net Sales Operating income (loss) Ordinary income (loss) Net income (loss)	In billions of yen 2,189.9 -12.4 -49.2 -53.6	In billions of yen 2,112.2 -1.4 -22.0 -97.5	% -3.5 - - -
Net income per share: Basic Diluted	yen	yen	yen

	Three Months Ended December 31, 2010	Three Months Ended December 31, 2011	Change
Net Sales Operating income (loss) Ordinary income (loss) Net income (loss)	In billions of yen 720.7 -13.5 -27.0 -26.5	In billions of yen 669.0 -8.2 -11.6 -86.5	% -7.2 - - -
Net income (loss) per share: Basic Diluted	yen	yen	yen

	As of March 31, 2011	As of December 31, 2011	Change
	In billions of yen 2,628.9 875.4	In billions of yen 2,457.9 762.3	% -6.5 -12.9

Notes

Number of consolidated subsidiaries and affiliated companies accounted for by the equity method is as follows:

	As of December 31, 2010	As of December 31, 2011	As of March 31, 2011
Consolidated subsidiaries	284	267	283
Affiliated companies accounted for by the equity method	59	55	55

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.

Joseph Jasper/Akiko Shikimori TEL: [phone]

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