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NEC FY Profit Rises

NEC Corp. (NIPNF.PK), a Japanese provider of IT and network technologies, reported that its net profit attributable to owners of the parent for the year ended March 31, 2018 was 45.9 billion yen, an increase of 18.6 billion yen year-on-year, primarily due to the improvement of income before income taxes.

Operating profit improved by 22.0 billion yen year-on-year to 63.9 billion yen, mainly due to an increase in consolidated revenue.

Consolidated revenue was 2.84 trillion yen for the year ended March 31, 2018, an increase of 179.4 billion yen or 6.7%year-on-year. This increase was mainly due to increased sales in the Public business.

The NEC Group anticipates consolidated net sales of 2.83 trillion yen for the fiscal year ending March 31, 2019, mainly due to growth from its focus on the Safety business, despite the sales decrease caused by deconsolidation of NEC Energy Devices, Ltd. Moreover, the NEC Group anticipates consolidated operating income of 50.0 billion yen for the fiscal year ending March 31, 2019.

The outlook also factors in the influence from the introduction of strategic costs to business structure improvement expenses for achieving "Mid-term Management Plan 2020." The NEC Group also expects 25.0 billion yen of net profit attributable to owners of the parent for the same period.

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