TOKYO, July 20, 2018 - (JCN Newswire) - NEC Corporation (TSE: 6701) announced earlier this year a shift to a new organization structure effective as of April 1, 2018. In line with these structural changes, NEC's operating segments will be revised as of its consolidated financial results for the first quarter of the fiscal year ending March 31, 2019, being announced on July 31, 2018.
1. Establishment of "Global" segment
To accelerate the growth of global business, NEC incorporated business divisions that are primarily tasked with expanding in global markets into the Global Business Unit effective April 1, 2018. This makes it possible to centralize business responsibilities and management authority, resulting in improved speed, concentrated investment in core businesses, and reduced costs. In line with this move, the Global Business Unit, which was previously included under the "Others", has been transferred to a newly established "Global" segment. The business divisions incorporated into the "Global" segment include those responsible for the software and service business for service providers throughout the world, the wireless solutions business, and the submarine systems business, which were previously included under the "Telecom Carrier" segment; the global unified communications business and the display solutions business, which were previously included under the "System Platform" segment; and the energy business, which was previously included under the "Others".
2. Renaming of "Telecom Carrier" segment
Additionally, in response to the continuing diversification of network needs as the IoT and 5G era approaches, NEC renamed its Telecom Carrier Business Unit to Network Services Business Unit effective April 1, 2018. This move was made in an effort to leverage the network strengths and capabilities cultivated in the telecom carrier market across to other industry sectors, including service providers, manufacturers, distribution and service industries, and governments. In line with this, the "Telecom Carrier" segment has been renamed "Network Services" segment.
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About NEC Corporation
NEC Corporation is a leader in the integration of IT and network technologies that benefit businesses and people around the world. The NEC Group globally provides "Solutions for Society" that promote the safety, security efficiency and fairness of society. Under the company's corporate message of "Orchestrating a brighter world," NEC aims to help solve a wide range of challenging issues and to create new social value for the changing world of tomorrow. For more information, visit NEC at https://www.nec.com.
July 20, 2018 16:31 HKT/SGT
Source: NEC Corporation
NEC Corporation (TSE: 6701)
Topic: Press release summary
Sectors: Enterprise IT
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