NEC Corp yesterday reported net profits up a soaring 119% at the equivalent of $728m for the year to March 31 and credited a strengthening domestic market. Revenue rose 17% to $42,000m. The company, still the Japanese personal computer market leader, although its share is being steadily eroded, says most of the earnings gain came from the booming market for personal computers and cellular and other mobile communications equipment. Strong markets in the home region also helped boost profits, the company said. NEC saw increasing vigor in Japan’s overall economy, particularly after the yen rather unexpectedly weakened from last year’s record highs against the dollar. Sales of personal computers rose a sturdy 22% to $8,680m. Demand was boosted by the introduction of the Japanese-language version of Windows95, where the hype proved rather more justified than in the US and Europe, although in Japan too, the main market was first-time computer buyers. NEC expects continued strength in the electronics sector and looks for its profits to advance 17%.
