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Delayed Japan Exchange  -  10:04 2022-06-29 pm EDT
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Northern Territory of Australia and NEC Sign MoU to Grow the Territory's Digital Capabilities

04/13/2022 | 01:36am EDT

CANBERA, AUSTRALIA, Apr 13, 2022 - (JCN Newswire) - - Northern Territory of Australia (Northern Territory), NEC Australia and NEC Corporation today announced the signing of a Memorandum of Understanding (MoU).

The signing will strengthen the NEC and Northern Territory Government partnership to develop a sustainable innovation ecosystem and grow the Territory's digital capabilities. It follows significant private sector investment in subsea fibre optic cable and data centre infrastructure.

As part of the MoU, the parties will set out a framework and identify major areas for digital development in the Territory.

This agreement will also allow NEC to explore the use of its world-leading technologies, such as submarine cable systems, Open-RAN 5G, and artificial intelligence in the Territory, as well as building industry training opportunities for Territorians.

The partnership cements the Territory's position as Northern Australia's most advanced digital economy and leading tech hub, which will help expand local industry, create new opportunities for businesses and more jobs for Territorians.

As one of the largest employers outside of Government in the Territory, NEC Australia consistently contributes to the local economy while also creating new digital career pathways through various developments and mentoring. The company currently employs 187 full-time staff across the Territory.

Growing the digital and tech industries is a key part of Territory Government's plan to grow the economy to AU$40 billion by 2030 and create more jobs.

Michael Gunner, Chief Minister, Northern Territory of Australia, said:

"The Territory has an excellent relationship with NEC, with more than 180 locals employed across the Territory. This signing will see the next steps in place to continue working together to boost the Territory's digital capabilities. Off the back of significant subsea cable and data centre infrastructure announcements, the Territory is becoming a global destination for all things digital."

Takayuki Morita, President and CEO, NEC Corporation, said:

"NEC Corporation is very pleased to be entering this MoU with the Northern Territory Government. The Territory is emerging as a forward-thinking, technology-focused region and we are honoured to be working closely with them to build a successful future."

Mike Mrdak, Executive Chair & CEO, NEC ANZ said:

"NEC Australia has a long history working in the Northern Territory and we are excited to build on our success in the top end with this unique opportunity. This partnership underpins NEC's vision to support Governments who seek to provide citizen services and create a connected future for their people."

"We look forward to helping the NT Government create a more connected, sustainable and smart future for the Northern Territory."

About NEC Corporation

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of "Orchestrating a brighter world." NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com.

Copyright 2022 JCN Newswire . All rights reserved.

© Japan Corporate News, source JCN Press Releases

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Sales 2022 3 017 B 22 077 M 22 077 M
Net income 2022 76 876 M 563 M 563 M
Net Debt 2022 119 B 869 M 869 M
P/E ratio 2022 18,6x
Yield 2022 1,88%
Capitalization 1 471 B 10 766 M 10 766 M
EV / Sales 2022 0,53x
EV / Sales 2023 0,51x
Nbr of Employees 117 418
Free-Float 92,3%
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Takayuki Morita President, CEO & Representative Director
Osamu Fujikawa CFO & Managing Executive Officer
Nobuhiro Endo Deputy General Manager-Mobile Network Business
Motoo Nishihara Manager-Cloud System Research Laboratories
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