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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  NEC Corporation    6701   JP3733000008

NEC CORPORATION

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NEC : charts global growth by appointing new CEO of Indian business

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04/01/2020 | 12:15am EDT

New Delhi, 01 April 2020 - NEC Corporation and NEC Technologies India today announced the appointment of Mr. Aalok Kumar as the new President and Chief Executive Officer (CEO) of NEC Technologies India, effective from today.

This change reflects NEC Corporation's strong commitment to the country and India's growing importance to the company's global business.

With this appointment, Mr. Takayuki Inaba, former Chairman & Managing Director, has been appointed as Executive Chairman of NEC Technologies India.

Mr. Akihiko Kumagai, President of the Global Business Unit, NEC Corporation, said, 'This management restructuring exercise is aimed at accelerating our evolution in India. Capacity building in India will not only bolster our business in this country but also support our global businesses.'

Mr. Kumagai continued, 'Aalok is an accomplished leader who brings a good mix of strategic thinking and operational excellence. His rich experience in business transformation and performance improvement, especially in Japan and other Asian markets, will help us accelerate our growth. With him onboard, we are confident that he will take NEC Technologies India to even greater heights and help India achieve its goals.'

Mr. Aalok Kumar, President & CEO, NEC Technologies India, said, 'India is a key market in NEC's global growth strategy. With our huge pool of engineering and technology talent across various verticals, including public safety, communications infrastructure, aviation, logistics and transportation solutions, NEC is contributing significantly to the digital transformation of India.'

'Our R&D efforts at NEC Laboratories India have enabled our 'In India- For India' strategy to develop innovative solutions that create social value and are globally scalable,' he added.

Supported by a strong and talented workforce of over 6,000 local employees, NEC has successfully deployed a number of cross industry solutions for the infrastructure, aviation, logistics and transportation sectors.

Some key NEC projects in India include the Chennai-Andaman submarine cable project, which will bridge the digital gap between Andaman and Nicobar Islands by ensuring speedy internet access. In the aviation sector, NEC's biometric-based paperless boarding solution will enable a seamless airport experience for passengers.

Container tracking and optimization solutions deployed by DMICDC Logistics Data Services - a joint venture between the Government of India and NEC - has allowed efficient management of 95% of the import-export container traffic at seaports throughout India, resulting in improved port operations across the country.

In collaboration with local government authorities, NEC is working on a number of smart city projects as well by setting up digital command and control centers for traffic management and public safety.

By collaborating with NEC Laboratories India in Bangalore, NEC Technologies India develops solutions across verticals such as Big Data, biometrics, mobile communications and retail that can be deployed both locally and internationally.

NEC Technologies India currently operates offices in New Delhi (head office), Ahmedabad, Bengaluru, Chennai, Mumbai, Noida and Surat.

Disclaimer

NEC Corporation published this content on 01 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 April 2020 04:10:09 UTC

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Financials (JPY)
Sales 2020 3 075 B
EBIT 2020 128 B
Net income 2020 85 350 M
Debt 2020 260 B
Yield 2020 1,25%
P/E ratio 2020 14,9x
P/E ratio 2021 15,3x
EV / Sales2020 0,50x
EV / Sales2021 0,46x
Capitalization 1 268 B
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Mean consensus HOLD
Number of Analysts 11
Average target price 4 923,00 JPY
Last Close Price 4 885,00 JPY
Spread / Highest target 69,9%
Spread / Average Target 0,78%
Spread / Lowest Target -36,5%
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NameTitle
Takashi Niino Executive President, CEO & Representative Director
Nobuhiro Endo Non-Executive Chairman
Takayuki Morita CFO, Representative Director & Executive VP
Motoo Nishihara Director & Chief Technology Officer
Hiroshi Kodama Chief Information Officer
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