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NEC (11173)

NEC Corporation (Japanese 日本電気株式会社 Nippon Denki Kabushiki Gaisha; TYO: 6701 , NASDAQ: NIPNY) is a multi-national information technologies company headquartered in Minato-ku, Tokyo, Japan. more...

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NEC, part of the Sumitomo Group, provides information technology (IT) and network solutions to business enterprises, communications services providers and government. Their business is divided into the three principal segments: IT Solutions, Network Solutions and Electronic Devices. The IT Solutions business delivers computing solutions to business enterprises, government and individual customers in the form of software, hardware and related services. The Network Solutions business designs and provides broadband network systems, mobile and wireless communications network systems, mobile handsets, broadcast and other systems. NEC's Electronic Devices business includes semiconductors, displays and other electronic components. NEC produces Versa notebooks for the international market and the Lavie series for Japanese market.

Proud achievements of NEC include the discovery of carbon nanotubes by Sumio Iijima, the creation of the Earth Simulator, the fastest supercomputer in the world at the time, and the invention of the widely used MUX-scan design-for-test methodology (contrast with the IBM-developed LSSD-scan methodology.) Over the past five years NEC has ranked consistently in the top 4 companies for number of U.S. patents issued, averaging 1764 granted each year.

The company was formerly known as Nippon Electric Company, Limited, before it was renamed in 1983. It still goes by the old name in Japan.

As a chip maker, NEC Semiconductors is among the Worldwide Top 20 Semiconductor Sales Leaders.

History

Early development

Company formation

Nippon Electric Limited Partnership was established in August 31, 1898 by Kunihiko Iwadare and Takeshiro Maeda using facilities that they had bought from Miyoshi Electrical Manufacturing Company. Iwadare was the representative partner. Maeda handled company sales. Western Electric, who had an interest in the Japanese phone market was represented by Walter Tenney Carleton. Carleton was also responsible for the renovation of the Miyoshi facilities. It was agreed that the partnership would be reorganized as a joint stock company when treaty would allow it. On July 17, 1899 the revised treaty between Japan and the United States went into effect. Nippon Electric Company, Limited was organized the same day with Western Electric Company to become the first Japanese joint venture with foreign capital. Iwadare was named managing director. Ernest Clement and Carleton were named as directors. Maeda and Mototeru Fujii were assigned to be auditors. The overall management was handled by Iwadare, Maeda and Carleton.