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NEC Corporation (NASDAQ: NIPNY) is a Japanese multinational IT company headquartered in Minato-ku, Tokyo, Japan. NEC, part of the Sumitomo Group, provides information technology (IT) and network solutions to business enterprises, communications services providers and government. The company was formerly known as Nippon Electric Company, Limited, before it was renamed in 1983. It still goes by the full name in Japan. As a chip maker, NEC Semiconductors is among the Worldwide Top 20 Semiconductor Sales Leaders. NEC's 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. NEC Display Solutions is a manufacturer of computer monitors and large-screen public-information displays, and has sold and marketed products under the NEC brand globally for more than twenty years. The company sells display products to the consumer, business, professional (e.g. financial, graphic design, CAD/CAM), digital signage and medical markets. The company became a wholly owned subsidiary of Japan-based NEC Corporation on March 31, 2005. Prior to that date, the company was known as NEC/Mitsubishi, a 50/50 joint venture between NEC Corparation and Mitsubishi Electric that began in 2000, and sold display products under both the NEC and Mitsubishi brands. The company, which is no longer affiliated with Mitsubishi, currently sells and markets products under the NEC brand only.
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