TOP PAGE
ENGLISH
JAPANESE
|
CONNECT WITH US:
Home
About
Services
Contact
Log in
*
Home
Press release
Sep 03, 2021 19:22 JST
Source:
NEC Corporation
NEC Announces Transfer of Shares in a Consolidated Subsidiary
TOKYO, Sep 03, 2021 - (JCN Newswire) - NEC Corporation (TSE: 6701) today announced the transfer of all shares in NEC Energy Solutions, Inc. (NEC Energy Solutions), a consolidated subsidiary, to LG Energy Solution, Ltd. (LG Energy Solution). The stock transfer is scheduled to take place following completion of required regulatory clearances.
In recent years, along with the spread of renewable energy, the energy storage system market is expanding. However, market competition is also intensifying. Under these circumstances, in June 2020, NEC decided to suspend taking new orders for NEC Energy Solutions, an energy-related subsidiary that mainly provides power storage systems for electric power companies and businesses, and to continue only the execution and maintenance of contracted projects. Since then, NEC has explored the possibility of selling NEC Energy Solutions, while proceeding with the discontinuation of operations for the subsidiary. As a result, NEC decided to transfer the shares to LG Energy Solution.
The impact of this share transfer on NEC's consolidated financial results for the fiscal year ending March 31, 2022 will be minor.
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
.
Source: NEC Corporation
Sectors: Daily Finance, Cloud & Enterprise
Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Related Press Release
NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
April 24 2024 12:25 JST
NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
April 22 2024 14:09 JST
DOCOMO, NTT, NEC and Fujitsu Develop Top-level Sub-terahertz 6G Device Capable of Ultra-high-speed 100 Gbps Transmission
April 11 2024 14:10 JST
Transgene and NEC Present First Clinical Benefits of Neoantigen Cancer Vaccine, TG4050, in Head & Neck Cancer at AACR 2024
April 10 2024 12:36 JST
NEC white paper proposes comprehensive process workflow for the application of AI-driven personalized cancer vaccines
April 08 2024 12:45 JST
NEC develops marketing strategy planning & effectiveness simulation technology using generative AI
March 25 2024 09:08 JST
NEC and NTT successfully conduct first-of-its-kind long-distance transmission experiment over 7,000km using 12-core optical fiber
March 22 2024 07:38 JST
NEC and Tokyo Medical and Dental University use AI to assist self-care for chronic lower back pain
March 21 2024 09:02 JST
NEC and Skyloom to Pioneer 100 Gbps Space Optical Communications, Transforming Global Internet Connectivity
March 20 2024 14:30 JST
NEC named to list of Top 100 Global Innovators by Clarivate for 13th consecutive year
March 07 2024 10:24 JST
More Press release >>
Latest Press Release
JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan
Apr 26, 2024 10:00 JST
Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024
Apr 25, 2024 18:21 JST
MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
Apr 25, 2024 17:45 JST
GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
Apr 25, 2024 16:50 JST
Toyota Exhibiting at Beijing Motor Show 2024
Apr 25, 2024 16:25 JST
Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST
UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST
Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST
MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST
Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST
NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST
Fujitsu SX Survey reveals key success factors for sustainability
Apr 23, 2024 10:25 JST
Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions
Apr 22, 2024 16:09 JST
NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
Apr 22, 2024 15:09 JST
Soft Space Launches the First and Only JCB Payment Gateway in Malaysia
Apr 22, 2024 15:00 JST
TOYOTA GAZOO Racing takes a one-two in Croatian thriller
Apr 22, 2024 10:47 JST
First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST
Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST
Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
More Latest Release >>