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Technology / AI and automation

NEC EXPECT FIRST LOSS SINCE 1974

The Japanese computer market is now slumping so badly that although NEC Corp managed a slim consolidated net profit for the first half of fiscal 1993 (figures in page five), it now expects a loss for the full year of $72m, its first loss since 1974, when Japan’s economy was reeling from the oil price shock; NEC has been hit badly by the downturn in corporate capital expenditure in Japan’s recession, which has eaten into its computer and telecommunications systems businesses, Reuter reports; the company has been restructuring its US home electronics subsidiary, which makes facsimile machines, personal computers and video game machines, and is also spending heavily on new semiconductor facilities, both in Japan and the US.

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CBR Staff Writer

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