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March 8, 2009

NEC to shut LCD plant and cut jobs

The move comes in response to the decline in demand for LCD products

By CBR Staff Writer

NEC has announced plans to shut its liquid crystal display plant in southern Japan and cut 590 jobs by the end of March 2010 in response to the decline in demand for liquid crystal display products.

The move follows an announcement last month when it said it would lay off 9,500 staff and retire a further 450 in Japan, cut 9,000 jobs overseas, and close some plants and businesses.

The Japan-based company said it plans to close its Kagoshima plant at the end of December and integrate production into another plant in Akita to eliminate overlapping functions and operations. It will also transfer some of its Kanagawa headquarters’ operations to the Akita plant.

In the third quarter it reported a net loss of JPY 131 billion ($1.46 billion), compared to a loss of JPY 5.2 billion ($58m) last year, on revenue down 10% at JPY 948 billion ($10.5 billion).

Toshihiko Ueno, president of NEC’s LCD technologies division, said: There will be no disruption to the supply of existing products and the company will continue its new product and technology development plans, such as 3D and electronic paper technologies.

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