RNS Number:8061J
NEC Corporation
09 April 2003

                                                                   April 8, 2003



               Announcement of Revised Financial Results Forecast

NEC Corporation ("NEC") today announced its revised financial results forecast
for the fiscal year ended March 31, 2003. Details of the revisions are as
follows:



1. Revised consolidated financial results forecasts for the fiscal year ended
March 31, 2003
                                                                   Billions of yen)
 Forecast as of ...     Net sales       Operating    Income (loss)      Net income
                                     income (loss)  before income            (loss)
                                                            taxes
April 8, 2003             4,680.0           115.0            60.0           (25.0)
January 30, 2003          4,680.0           100.0            65.0            10.0
Difference                    0.0            15.0           (5.0)           (35.0)
Actual results for        5,101.0          (55.5)         (461.1)          (312.0)
the fiscal year
ended March 31, 2002




2. Revised non-consolidated financial results forecasts for the fiscal year
ended March 31, 2003
                                                         (Billions of yen)
       Forecast as of ...      Net sales  Ordinary income      Net income
                                                   (loss)           (loss)
      April 8, 2003              2,780.0             5.0           (15.0)
      January 30, 2003           2,750.0          (27.0)             3.0
      Difference                    30.0            32.0           (18.0)
      Actual results for         3,562.3          (96.5)          (286.2)
      the fiscal year ended
      March 31, 2002




3. Reasons for the revisions to the financial results forecasts

    (1) Consolidated financial results forecasts


NEC's consolidated net sales for the fiscal year ended March 31, 2003 are
expected to be the same as the forecast announced on January 30, 2003. Due to
the better than expected reductions in cost and business expenses, NEC's
consolidated operating income is expected to be 115.0 billion yen, which is 15.0
billion yen higher than the previous forecast. However, due mainly to
devaluation of investment in securities of approximately 20.0 billion yen, NEC's
consolidated income before income taxes is expected to be 60.0 billion yen,
which is 5.0 billion yen lower than the previous forecast.

Regarding consolidated net income for the fiscal year ended March 31, 2003, NEC
expects to post a loss of 25.0 billion yen, which is 35.0 billion yen lower than
the previous forecast. This is mainly due to a loss of approximately 16.0
billion yen incurred from the reexamination of deferred income tax assets
resulting from the introduction of a new local tax, and increased burden of
other taxes.

    (2) Non-consolidated financial results forecasts


NEC's ordinary income for the fiscal year ended March 31, 2003 is expected to be
5.0 billion yen, which is 32.0 billion yen higher than the previous forecast.
This is due to the fact that net sales are expected to increase by approximately
30.0 billion yen over the previous forecast, and that solid progress was made in
reductions of cost and business expenses.

Although an improvement in ordinary income is anticipated, NEC's
non-consolidated net income for the fiscal year ended March 31, 2003 is expected
to decrease by 18.0 billion yen to a loss of 15.0 billion yen as compared with
the previous forecast. This is mainly due to (i) the fact that income before
income taxes is expected to decrease by 18.0 billion yen due to the devaluation
of investments in securities of approximately 20.0 billion yen and the
devaluation of investments in affiliated companies of approximately 30.0 billion
yen, and (ii) the reexamination of deferred income tax assets resulting from the
introduction of a new local tax law which is expected to have a negative impact
of approximately 8.0 billion yen on the non-consolidated net income.

Additionally, as announced on January 30, 2003, NEC does not plan to make a
year-end dividend payment for the fiscal year ended March 31, 2003.




                                      ***




CAUTIONARY STATEMENTS:

The statements in this material with respect to plans, strategies and forecasts
of NEC Corporation and its consolidated subsidiaries (collectively "NEC") are
forward-looking statements involving risks and uncertainties. NEC cautions in
advance you that actual results could differ materially from such
forward-looking statements due to several factors. The important factors that
could cause actual results to differ materially from such statements include,
but are not limited to, general economic conditions in NEC's markets, which are
primarily Japan, North America, Asia and Europe; demand for, and competitive
pricing pressure on, NEC's products and services in the marketplace; NEC's
ability to continue to win acceptance of its products and services in these
highly competitive markets; and movements in currency exchange rates,
particularly the rate between the yen and the U.S. dollar. Among other factors,
a worsening of the world economy resulting from the downturn in the IT industry,
a worsening of financial conditions in the world markets, would cause actual
results to differ from the projected results forecast.

In case where the information contained in this press release falls within the
definition of "Material Information" under Paragraph 2 of Article 166 of the
Securities and Exchange Law of Japan, if you (and directors or employees of your
company if the content of this press release comes to their knowledge in
connection with their duty) read this press release before the time of
"Publication" (which is defined under the Securities and Exchange Law of Japan
and its Enforcement Ordinance as twelve hours after its release; i.e.,
approximately 4:30 am on April 9, 2003 (JST)), you (and directors or employees
of your company if the content of this press release comes to their knowledge in
connection with their duty) may be prohibited from purchasing, selling, or
making other transactions of shares of stock or other securities of NEC before
the time of Publication.



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Media Contacts:
Chris Shimizu / Daniel Mathieson
Corporate Communication Division
NEC Corporation
TEL: +81-3-3798-6511
FAX: +81-3-3457-7249


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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