Today (Japan Time), NEC Corporation (“NEC”) received
notification from the NASDAQ Stock Market LLC (“NASDAQ”) that the
NASDAQ Listing Qualifications Panel (the “Panel”) has granted NEC’s
request for an extension to file its annual report on Form 20-F for
the fiscal year ended
March 31, 2006 (the “2006 Form 20-F”). Pursuant to the
extension, NEC’s American Depositary Receipts (“ADRs”) will
continue to be listed on the NASDAQ Global Select Market on the
condition that NEC files the 2006 Form 20-F with the Securities and
Exchange Commission (the “SEC”)
on or before February 28, 2007.
On October 5, 2006, NEC announced receipt of a Staff
Determination Letter from NASDAQ regarding the possible delisting
of its ADRs as a consequence of the delayed filing of its 2006 Form
20-F. NEC requested the extension at a hearing before the Panel
held on November 16, 2006, and further requested that NEC’s ADRs
continue to be listed during the extension period. Based on the
information presented at the hearing, the Panel determined that
NEC's ADRs will remain listed provided NEC files its 2006 Form 20-F
by the extended deadline.
NEC is currently conducting the analysis necessary for its
audited financial statements to file its 2006 Form 20-F with the
SEC.
-----------------------------------------------------------------
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 U.S. Securities and Exchange Commission, and in
reports to shareholders and other communications. The U.S. Private
Securities Litigation Reform Act of 1995 contains, and other
applicable laws may contain, a safe-harbor for forward-looking
statements, on which NEC relies 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," "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 NEC’s ability to complete the necessary
analysis to
prepare its U.S. GAAP financial statements, investor reaction to
the events reported in this press release, and other stock market
circumstances. 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.
About NEC Corporation
-------------------------------
NEC Corporation (NASDAQ: NIPNY) is one of the world's leading
providers of Internet, broadband network and enterprise business
solutions dedicated to meeting the specialized needs of its diverse
and global base of customers. NEC delivers tailored solutions in
the key fields of computer, networking and electron devices, by
integrating its technical strengths in IT and Networks, and by
providing advanced semiconductor solutions through
NEC Electronics Corporation. The NEC Group employs more than
150,000 people worldwide and had net sales of approximately 4,825
billion yen (approx. $41.2 billion) in the fiscal year ended March
2006.
For additional information, please visit the NEC home page at:
http://www.nec.com
* Newsroom: http://www.nec.co.jp/press/en/
*********************************************************************************
NEC Corporation's Newsroom: http://www.nec.co.jp/press/en/
Photo Library: http://www.nec.co.jp/press/en/library.html
* This address (pr@news.jp.nec.com) is for distribution purposes
only.
Please send any correspondence, comments etc. via the
CONTACT
section on our global website.
https://www.nec.com/cgi-bin/contact/frame.cgi?mode=QC_SELECT&
site=&select_pr=03
*********************************************************************************