FORM
6-K

SECURITIES
AND EXCHANGE COMMISSION

WASHINGTON,
D. C. 20549




---

REPORT
OF FOREIGN PRIVATE ISSUER

Pursuant
to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934

For
the month of January 2003

Commission
File Number: 000-12713




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NEC
CORPORATION

(Translation
of registrant's name into English)




---

7-1,
Shiba 5-chome Minato-ku, Tokyo, Japan

(Address
of principal executive offices)




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Form 20-F  [ X ]      Form 40-F [     ]

Yes  [     ]      No [ X ]



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SIGNATURE



NEC
CORPORATION(Registrant)By:


/S/
    FUJIO OKADAFujio Okada
General Manager, Legal Divison




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January 30, 2003



CONSOLIDATED FINANCIAL RESULTS FOR THE THIRD
  QUARTER OF THE FISCAL YEAR ENDING MARCH 31, 2003



I.    Consolidated Financial Results



|                                  |  | Three months ended December 31, 2002 |  | Three months ended December 31, 2001 |  | Increase(Decrease)
|--------------------------------- |  | ------------------------------------ |  | ------------------------------------ |  | ------------------
|                                  |  |                                      |  |                                      |  |                   
|                                  |  | In billions of yen                   |  | In billions of yen                   |  | %                 
|Net sales                         |  | 1,068.2                              |  | 1,125.0                              |  | (5.0)             
|Operating income (loss)           |  | 23.2                                 |  | (64.2)                               |  | -                 
|Income (loss) before income taxes |  | 2.1                                  |  | (253.0)                              |  | -                 
|Net income (loss)                 |  | (4.5)                                |  | (155.0)                              |  | -                 
|                                  |  |                                      |  |                                      |  |                   
|                                  |  | Yen                                  |  | Yen                                  |  | Yen               
|Per share of common stock:        |  |                                      |  |                                      |  |                   
|Net income (loss):                |  |                                      |  |                                      |  |                   
|Basic:                            |  | (2.76)                               |  | (93.73)                              |  | 90.97             
|Diluted:                          |  | (2.76)                               |  | (93.73)                              |  | 90.97             



|                                                                |  | Nine months ended December 31, 2002 |  | Nine months ended December 31, 2001 |  | Increase
          (Decrease)
|--------------------------------------------------------------- |  | ----------------------------------- |  | ----------------------------------- |  | -----------------------------
|                                                                |  |                                     |  |                                     |  |                              
|                                                                |  | In billions of yen                  |  | In billions of yen                  |  | %                            
|Net sales                                                       |  | 3,242.1                             |  | 3,593.1                             |  | (9.8)                        
|Operating income (loss)                                         |  | 49.9                                |  | (58.9)                              |  | -                            
|Income (loss) before income taxes                               |  | 22.5                                |  | (287.3)                             |  | -                            
|Income (loss) before cumulative effect of accounting change     |  | (3.5)                               |  | (182.3)                             |  | -                            
|Net income (loss)                                               |  | (3.5)                               |  | (184.9)                             |  | -                            
|                                                                |  |                                     |  |                                     |  |                              
|                                                                |  | Yen                                 |  | Yen                                 |  | Yen                          
|Per share of common stock:                                      |  |                                     |  |                                     |  |                              
|Income (loss) before cumulative
	  effect of accounting change: |  |                                     |  |                                     |  |                              
|Basic:                                                          |  | (2.13)                              |  | (110.22)                            |  | 108.09                       
|Diluted:                                                        |  | (2.13)                              |  | (110.22)                            |  | 108.09                       
|Net income (loss) :                                             |  |                                     |  |                                     |  |                              
|Basic:                                                          |  | (2.13)                              |  | (111.79)                            |  | 109.66                       
|Diluted:                                                        |  | (2.13)                              |  | (111.79)                            |  | 109.66                       



|                     |  | As of December 31, 2002 |  | As of March 31, 2002 |  | Increase
	  (Decrease)
|-------------------- |  | ----------------------- |  | -------------------- |  | ----------------------
|                     |  |                         |  |                      |  |                       
|                     |  | In billions of yen      |  | In billions of yen   |  | %                     
|Total assets         |  | 4,679.7                 |  | 5,010.8              |  | (6.6)                 
|Shareholders' equity |  | 518.7                   |  | 564.9                |  | (8.2)                 



(Notes)

1. The consolidated financial statements of NEC are prepared in accordance
	with accounting principles generally accepted in the United States, or U.S.
	GAAP.
2. Operating income (loss) is displayed in conformity with the accounting principles
	generally accepted in Japan.





---



II.    
Results of Operations



1.    
Third Quarter Business Environment

Regarding the business environment for the three months ended December 31,
2002, although some regions including China demonstrated a high
growth rate, there was a global downturn in speed of the economic
recovery, affected by worsening
of consumer
and corporate confidence in the United States due to heightened
uncertainties concerning international politics. In Japan, the
economic situation continued to be severe, due to the fact that
consumer and corporate confidence did not improve, and the
deflationary recession protracted in the midst of the continuing
concerns over the United States economy and sluggish stock prices in
the domestic market.

The information technology (“IT”) industry has for some time
been facing declining product prices as advances in large-scale
integrated circuits (“LSIs”) have progressed. And now,
low-priced products are being shipped to locations all around the
globe from China, which has become the world's factory. In addition
to this, providers of electronic manufacturing services have started
developing a horizontal international specialization system that
incorporates China. These surroundings are also accelerating the drop
in product prices.

In order to move quickly enough to compete with our global competitors,
NEC is  executing fundamental business structural reforms that have
included the corporate separation of its semiconductor business
(excluding general-purpose DRAMs) and the establishment of NEC
Electronics Corporation, in November 2002, as a new company dedicated
to providing semiconductor solutions.  This was implemented in
accordance with the management reform policy that evolved into the
second phase in May 2002 which was aimed to divide NEC's business
operation into two domains, namely, the “Semiconductor
Solutions” and the “IT-Network Integrated Solutions”,
based on the aim of developing individual strategies that respond to
the different characteristics of each business operation. NEC also
continued to reorganize the NEC group through corporate separations
and mergers to ensure the optimal management structure for each
different set of business characteristics. Additionally, by executing
innovative production reforms and general material cost reduction
activities, NEC focused on creating a robust business structure that
can achieve profitability even in a deflationary environment and on
providing high-value added solutions.



Consolidated
Financial Results

Under the structural reforms mentioned above, NEC's consolidated net sales
for the three months ended December 31, 2002 were 1,068.2 billion
yen, a decrease of 56.7 billion yen (or 5%) as compared with the corresponding period
of the previous fiscal year. Despite steady growth in sales for
systems integration ("SI") services in Japan and for
semiconductors, market conditions were weak in the area of hardware
related businesses including network infrastructure equipment and
mobile handsets.

As a result of restructuring measures implemented in the previous fiscal
year that effectively reduced fixed expenses and promoted cost
reductions, NEC improved the ratio of the cost of sales and selling,
general and administrative expenses as against net sales by 6.0 % and
1.9 % respectively as compared with the corresponding period of the
previous fiscal year. In spite of a decrease in net sales, NEC
recorded a consolidated operating income of 23.2 billion yen (an
improvement of 87.5 billion yenas compared with the
corresponding period of the previous fiscal year)
and anincome before income taxes of 2.1 billion yen (an
improvement of 255.2 billion yen as compared with the corresponding
period of the previous fiscal year). However, NEC posted a net loss
of 4.5 billion yen (an improvement of 150.5 billion yen as compared
with the corresponding period of the previous fiscal year), mainly
due to equity in losses of affiliated companies of 6.2 billion yen
(an improvement of 2.3 billion yen as compared with the corresponding
period of the previous fiscal year) as a result of poor operating
results of semiconductor companies.



2.    
Results by Operating Segments (including inter-segment transactions
and profit/loss figures)

Sales and segment profit or loss of NEC's main segments were as follows:
(figures in brackets denote increase or decrease from the
corresponding period of the previous fiscal year)

NEC Solutions' sales for the three months ended December 31, 2002 were
476.7 billion yen, a decrease of 5% as compared with the
corresponding period of the previous fiscal year. Sales by main
product areas were as follows:

In the area of SI services/software, despite steady growth in sales of
SI services, sales decreased by 3% to 96.2 billion yen compared with
the corresponding period of the previous fiscal year. This was due to
a decrease in sales for software, which had been very favorable in
the corresponding period of the previous fiscal year due mainly to
orders for large projects. In the area of Internet services/support
services, growth in BIGLOBE's value-added services and support
services resulted in an increase in sales by 4% to 84.1 billion yen.
In the area of personal products, however, sales decreased by 3% to
180.2 billion yen, due to continuing low demand in the domestic
personal computers (“PC”) market.

NEC Solutions posted a segment profit of 18.8billion yen, an improvement
of 10.5 billion yen as compared with the corresponding period of the
previous fiscal year due to the effective restructuring measures in
the area of personal products.

Sales for NEC Networks decreased by 20% to 337.9 billion yen as compared
with the corresponding period of the previous fiscal year. Sales by
main product areas were as follows:

In the area of network infrastructure, sales decreased by 28% to 176.6
billion yen mainly due to a decrease in shipments of network
infrastructure equipment caused by the continued deterioration of the
global telecommunications market. Sales for mobile handsets also
decreased by 23% to 110.0 billion yen due to a decrease in domestic
mobile handset shipments which had been very favorable in the
corresponding period of the previous fiscal year. This decrease was
largely influenced by the slowdown in the growth of new mobile
handset subscribers in Japan. In the area of others, sales increased
by 54% to 51.3 billion yen due to an increase in shipments of
equipment for domestic airborne signal digital broadcasting over the
corresponding period of the previous fiscal year.

In spite of a large decrease in overall sales and a very severe business
environment, NEC Networks posted a segment profit of 7.4 billion yen,
an increase of 6.9 billion yen as compared to the corresponding
period of the previous fiscal year. This was due to the effective
restructuring measures, including reduction of fixed expenses and
costs, which had been implemented since the previous fiscal year.

Sales for NEC's electron devices business increased by 17% to 229.0 billion
yen as compared with the corresponding period of the previous fiscal
year. Sales by main product areas were as follows:

Sales for semiconductors increased by 20% to 180.0 billion yen due to the
steady growth in microprocessors for consumer electronic products and
in LSIs for mobile handsets. Sales for displays decreased by 19% to
20.3 billion yen. This was mainly due to the change in business focus
from liquid crystal displays (“LCDs”) for commodity PCs
where there was rapid price decline and poor profitability, to LCDs
used in industrial applications. Sales for electronic components and
others increased by 34% to 28.7 billion yen mainly due to the new
consolidation of NEC Tokin Corporation that resulted from the
integration of NEC's electronic components business into NEC Tokin
Corporation.

Electron Devices business recorded a segment loss of 0.3 billion yen. However,
this result was an improvement of 55.0 billion yen as compared with
the corresponding period of the previous fiscal year, due to the
effective restructuring measures that reduced fixed expenses, and due
to an increase in shipments of semiconductors and electronic
components.

(Note)

* As a
result of the establishment of NEC Electronics Corporation by
corporate separation, “NEC Electron Devices” no longer
exists as NEC's in-house company. Therefore, the segment name
was changed from “NEC Electron Devices” to “Electron
Devices business”. The business structure of “Electron
Devices business” is the same as that of the former “NEC
Electron Devices”.





3.    
Financial Condition



Net cash used in operating activities for the three months ended December
31, 2002 was 51.1 billion yen mainly due to an increase in
inventories in order to respond to the seasonal increase in shipments
in the three months ending March 31, 2003. Due to a large improvement
in profitability, net cash used in operating activities decreased by
131.4 billion yen as compared with the corresponding period of the
previous fiscal year.

Net cash used in investment activities was
16.3 billion yen, a decrease of 26.8 billion yen as compared with the
corresponding period of the previous fiscal year. This was
principally due to restrained capital expenditures that resulted in
expenditures relating to the purchase of tangible fixed assets
decreasing by 30.9 billion yen as compared to the corresponding
period of the previous fiscal year.

As a result, free cash flows (the total of cash flows from operating
activities and cash flows from investing activities) were cash
outflows of 67.5 billion yen, an improvement of 158.3 billion yen as
compared with the corresponding period of the previous fiscal year.

Net cash provided by financing activities was 128.6 billion yen due to an
increase in debts outstanding.
Cash and cash equivalents at December 31, 2002 amounted to 329.1
billion yen, a decrease of 57.0 billion yen as compared with the end
of the corresponding period of the previous fiscal year.

The balance of interest-bearing debt at December 31, 2002 amounted to
2,262.8 billion yen, a decrease of 250.9 billion yen as compared with
the end of the corresponding period of the previous fiscal year. This
was mainly due to an improvement of free cash flows resulting from improved
profitability and promotion of asset efficiency.





4.    
Outlook for the Fiscal Year Ending March 31, 2003



NEC does not expect the business environment to improve in the short-term
as corporate IT investment and equipment investment from
telecommunications carriers experienced a continuing downturn.
Consequently, concerning the financial results for the fiscal year
ending March, 31 2003, despite anticipating lower net sales than
announced in October 2002, NEC expects to post a consolidated net
income as announced in October 2002 principally
through the promotion of cost reductions.

Although NEC expects to record a consolidated net income for the fiscal year
ending March 31, 2003, it is expected that the depressed stock market
and reduced value of the pension fund will result in a decrease in
shareholders capital. Therefore, NEC will not pay year-end dividend
payments for the fiscal year ending March 31, 2003.



NEC's forecast for its consolidated and non-consolitated financial results of the fiscal year
ending March 31, 2003 that was announced on October 25, 2002 was
revised as follows:



Consolidated

|                           |  | Forecast as of January 30, 2003 |  | Comparison with the previous fiscal year |  | Change from October Announcement
|-------------------------- |  | ------------------------------- |  | ---------------------------------------- |  | --------------------------------
|                           |  |                                 |  |                                          |  |                                 
|Net sales                  |  | 4,680.0 billion yen             |  | (-8%)                                    |  | (-160.0 billion yen)            
|Operating income           |  | 100.0 billion yen               |  | improved by 155.5 billion yen            |  | -                               
|Income before income taxes |  | 65.0 billion yen                |  | improbed by 526.1 billion yen            |  | -                               
|Net income                 |  | 10.0 billion yen                |  | improved by 322.0 billion yen            |  | -                               
|                           |  |                                 |  |                                          |  |                                 



Non-consolidated

|                  |  | Forecast as of January 30, 2003 |  | Comparison with the previous fiscal year |  | Change from October Announcement
|----------------- |  | ------------------------------- |  | ---------------------------------------- |  | --------------------------------
|                  |  |                                 |  |                                          |  |                                 
|Net sales         |  | 2,750.0 billion yen             |  | (-23%)                                   |  | (-50.0 billion yen)             
|Ordinary loss     |  | (27.0 billion yen)              |  | improved by 69.5 billion yen             |  | -                               
|Net income        |  | 3.0 billion yen                 |  | improved by 289.2 billion yen            |  | -                               
|Year-end dividend |  | 0 yen                           |  | (-3 yen)                                 |  |                                 
|                  |  |                                 |  |                                          |  |                                 





***



CAUTIONARY STATEMENTS

The statements in this material with respect to plans,
strategies and forecasts of NEC Corporation and its consolidated subsidiaries (collectively "NEC")
are forward-looking statements involving risks and uncertainties. NEC cautions in advance you that
actual results could differ materially from such forward-looking statements due to several factors.
The important factors that could cause actual results to differ materially from such statements include,
but are not limited to, general economic conditions in NEC's markets, which are primarily Japan,
North America, Asia and Europe; demand for, and competitive pricing pressure on,
NEC's products and services in the marketplace; NEC's ability to continue to win acceptance of
its products and services in these highly competitive markets; and movements in currency exchange rates,
particularly the rate between the yen and the U.S. dollar. Among other factors, a worsening of the world
economy resulting from the downturn in the IT industry, a worsening of financial conditions in the world markets,
would cause actual results to differ from the projected results forecast.

In case where the information contained in this press release
falls within the definition of "Material Information" under Paragraph 2 of Article 166 of the Securities and
Exchange Law of Japan, if you (and directors or employees of your company if the content of this press release
comes to their knowledge in connection with their duty) read this press release before the time of "Publication"
(which is defined under the Securities and Exchange Law of Japan and its Enforcement Ordinance as twelve hours
after its release; i.e., approximately 3:30 am on January 31, 2002 (JST)), you (and directors or employees
of your company if the content of this press release comes to their knowledge in connection with their duty)
may be prohibited from purchasing, selling, or making other transactions of shares of stock or other securities
of NEC before the time of Publication.





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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

|(Millions of yen, millions of U.S.
	  dollars)          
|--------------------------------------------------------
|                                                        
|Three months ended December 31                          
|                                                        
|Net sales                                               
|Cost of sales                                           
|Selling, general and administrative expenses            
|Operating income (loss)                                 
|                                                        
|Non-operating income                                    
|Interest and dividends                                  
|Other                                                   
|                                                        
|Non-operating expenses                                  
|                                                        
|Interest                                                
|Other                                                   
|Income (loss) before income taxes                       
|Provision (benefit) for income taxes                    
|Minority interest in losses of consolidated subsidiaries
|Equity in losses of affiliated companies                
|                                                        
|Net loss                                                
|                                                        





CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)



|(Millions of yen, millions of U.S.dollars)                    
|--------------------------------------------------------------
|                                                              
|                                                              
|                                                              
|Current assets                                                
|                                                              
|Cash and cash equivalents                                     
|Notes and accounts receivable, trade                          
|Current portion of investment in leases                       
|Inventories                                                   
|Other current assets                                          
|Long-term assets                                              
|                                                              
|Long-term receivables, trade                                  
|Investments and advances                                      
|Investment in leases                                          
|Property, plant and equipment                                 
|Other assets                                                  
|                                                              
|Total assets                                                  
|                                                              
|                                                              
|                                                              
|Current liabilities                                           
|                                                              
|Short-term borrowings and current portion of
	  long-term debt
|Notes and accounts payable, trade                             
|Other current liabilities                                     
|Long-term liabilities                                         
|                                                              
|Long-term debt                                                
|Accrued pension and severance costs                           
|Other                                                         
|Minority shareholders' equity in consolidated
	  subsidiaries 
|Preferred securities issued by a subsidiary                   
|                                                              
|Common stock                                                  
|Additional paid-in capital                                    
|Retained earnings                                             
|Accumulated other comprehensive income (loss)                 
|                                                              
|Total shareholders' equity                                    
|                                                              
|Total liabilities and shareholders' equity                    
|                                                              



CONDENSED CONSOLIDATED BALANCE SHEETS ( SUPPLEMENTARY INFORMATION ) (UNAUDITED)

|(Millions of yen, millions of U.S.dollars)                    
|--------------------------------------------------------------
|                                                              
|                                                              
|                                                              
|Current assets                                                
|                                                              
|Cash and cash equivalents                                     
|Notes and accounts receivable, trade                          
|Inventories                                                   
|Other current assets                                          
|Long-term assets                                              
|                                                              
|Long-term receivables, trade                                  
|Investments and advances                                      
|Property, plant and equipment                                 
|Other assets                                                  
|                                                              
|Total assets                                                  
|                                                              
|                                                              
|                                                              
|Current liabilities                                           
|                                                              
|Short-term borrowings and current portion of
	  long-term debt
|Notes and accounts payable, trade                             
|Other current liabilities                                     
|Long-term liabilities                                         
|                                                              
|Long-term debt                                                
|Accrued pension and severance costs                           
|Other                                                         
|Minority shareholders' equity in consolidated
	  subsidiaries 
|Preferred securities issued by a subsidiary                   
|                                                              
|Common stock                                                  
|Additional paid-in capital                                    
|Retained earnings                                             
|Accumulated other comprehensive income (loss)                 
|                                                              
|Total shareholders' equity                                    
|                                                              
|Total liabilities and shareholders' equity                    
|                                                              





CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

|(Millions of yen, millions of U.S.dollars)                                    
|------------------------------------------------------------------------------
|                                                                              
|Three months ended December
	  31                                             
|                                                                              
|I. Cash flows from operating activities:                                      
|Net loss                                                                      
|Adjustments to reconcile net loss to net cash
	  used in operating activities:
|Depreciation                                                                  
|Equity in losses of affiliated companies, net
	  of dividends                 
|(Increase) decrease in notes
	  and accounts receivable                       
|(Increase) decrease in inventories                                            
|Increase (decrease) in notes
	  and accounts payable                          
|Other, net                                                                    
|                                                                              
|Net cash used in operating
	  activities                                      
|                                                                              
|II. Cash flows from investing activities:                                     
|Proceeds from sales of property, plant and equipment                          
|Additions to property, plant and equipment                                    
|Proceeds from sales of marketable
	  securities                               
|Purchase of marketable securities                                             
|Other, net                                                                    
|                                                                              
|Net cash used in investing
	  activities                                      
|                                                                              
|Free cash flows                                                               
|                                                                              
|III. Cash flows from financing activities:                                    
|Net proceeds from bonds and borrowings                                        
|Proceeds from preferred securities issued by
	  a subsidiary                  
|Dividends paid                                                                
|Other, net                                                                    
|                                                                              
|Net cash provided by financing
	  activities                                  
|                                                                              
|Effect of exchange rate changes
	  on cash and cash equivalents               
|                                                                              
|Net increase in cash and cash
	  equivalents                                  
|                                                                              
|Cash and cash equivalents at
	  beginning of period                           
|Cash and cash equivalents at end of period                                    
|                                                                              





SEGMENT INFORMATION (UNAUDITED)

Operating Segment Information

(1) Net Sales (Including internal sales to other segments)

|(Millions of yen, millions of U.S.
	  dollars)
|----------------------------------------------
|                                              
|Three months ended December 31                
|NEC Solutions                                 
|NEC Networks                                  
|Electron Devices business                     
|Others                                        
|Eliminations                                  
|Electronics business total                    
|                                              
|Leasing business                              
|Eliminations                                  
|Consolidated total                            
|                                              

(2) Segment Profit or Loss

|(Millions of yen, millions of U.S.
	  dollars)
|----------------------------------------------
|                                              
|Three months ended December 31                
|NEC Solutions                                 
|NEC Networks                                  
|Electron Devices business                     
|Others                                        
|Eliminations                                  
|Unallocated corporate expenses*1              
|Electronics business total                    
|                                              
|Leasing business                              
|Eliminations                                  
|Consolidated total                            
|                                              



(3) Net Sales to External Customers

|(Billions of yen, millions of U.S.
	  dollars)
|----------------------------------------------
|                                              
|Three months ended December 31                
|NEC Solutions                                 
|Domestic                                      
|Overseas                                      
|NEC Networks                                  
|Domestic                                      
|Overseas                                      
|Electron Devices business                     
|Domestic                                      
|Overseas                                      
|Others                                        
|Domestic                                      
|Overseas                                      
|Electronics business total                    
|Domestic                                      
|Overseas                                      
|                                              
|Leasing business                              
|Domestic                                      
|Overseas                                      
|Consolidated total                            
|Domestic                                      
|Overseas                                      
|                                              



(4) Net Sales by Products and Services (Including internal sales to other segments)

|(Billions of yen, millions of U.S.
	  dollars)
|----------------------------------------------
|                                              
|Three months ended December 31                
|NEC Solutions                                 
|Systems Integration Services /Software        
|Internet Services/Support Services            
|Servers/Storage Products/Workstations         
|Personal Products                             
|Other Hardware                                
|NEC Networks                                  
|Network Infrastructure                        
|Mobile Terminals                              
|Other                                         
|Electron Devices business                     
|Semiconductors                                
|Displays                                      
|Electronic Components                         





CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

|(Millions of yen, millions of U.S.
	  dollars)                      
|--------------------------------------------------------------------
|                                                                    
|Nine months ended December
	  31                                    
|                                                                    
|Net sales                                                           
|Cost of sales                                                       
|Selling, general and administrative
	  expenses                     
|Operating income (loss)                                             
|                                                                    
|Non-operating income                                                
|Interest and dividends                                              
|Other                                                               
|Non-operating expenses                                              
|Interest                                                            
|Other                                                               
|                                                                    
|Income (loss) before income
	  taxes                                
|                                                                    
|Provision (benefit) for income
	  taxes                             
|Minority interest in income (losses) of consolidated
	  subsidiaries
|Equity in losses of affiliated
	  companies                         
|                                                                    
|Loss before cumulative effect of accounting change,net
	  of tax    
|                                                                    
|Cumulative effect of accounting change, net of
	  tax               
|                                                                    
|Net loss                                                            
|                                                                    





CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

|(Millions of yen, millions of U.S.dollars)                                    
|------------------------------------------------------------------------------
|                                                                              
|Nine months ended December 31                                                 
|                                                                              
|I. Cash flows from operating activities:                                      
|Net loss                                                                      
|Adjustments to reconcile net loss to net cash
	  used in operating activities:
|Depreciation                                                                  
|Equity in losses of affiliated companies, net
	  of dividends                 
|Decrease in notes and accounts receivable                                     
|Increase in inventories                                                       
|Decrease in notes and accounts payable                                        
|Other, net                                                                    
|                                                                              
|Net cash used in operating activities                                         
|                                                                              
|II. Cash flows from investing activities:                                     
|Proceeds from sales of property, plant and equipment                          
|Additions to property, plant and equipment                                    
|Proceeds from sales of marketable securities                                  
|Purchase of marketable securities                                             
|Other, net                                                                    
|                                                                              
|Net cash used in investing activities                                         
|                                                                              
|Free cash flows                                                               
|                                                                              
|III. Cash flows from financing activities:                                    
|Net proceeds from (repayment of) bonds and borrowings                         
|Proceeds from preferred securities issued by
	  a subsidiary                  
|Dividends paid                                                                
|Other, net                                                                    
|                                                                              
|Net cash provided by (used in) financing activities                           
|                                                                              
|Effect of exchange rate changes on cash and cash
	  equivalents               
|                                                                              
|Net decrease in cash and cash equivalents                                     
|                                                                              
|Cash and cash equivalents at beginning of period                              
|Cash and cash equivalents at end of period                                    
|                                                                              





SEGMENT INFORMATION (UNAUDITED)

Operating Segment Information

(1) Net Sales (Including internal sales to other segments)

|(Millions of yen, millions of U.S.
	  dollars)
|----------------------------------------------
|                                              
|Nine months ended December 31                 
|NEC Solutions                                 
|NEC Networks                                  
|Electron Devices business                     
|Others                                        
|Eliminations                                  
|Electronics business total                    
|                                              
|Leasing business                              
|Eliminations                                  
|Consolidated total                            
|                                              

(2) Segment Profit or Loss

|(Millions of yen, millions of U.S.
	  dollars)
|----------------------------------------------
|                                              
|Nine months ended December 31                 
|NEC Solutions                                 
|NEC Networks                                  
|Electron Devices business                     
|Others                                        
|Eliminations                                  
|Unallocated corporate expenses*1              
|Electronics business total                    
|                                              
|Leasing business                              
|Eliminations                                  
|Consolidated total                            
|                                              



(3) Net Sales to External Customers

|(Billions of yen, millions of U.S.
	  dollars)
|----------------------------------------------
|                                              
|Nine months ended December 31                 
|NEC Solutions                                 
|Domestic                                      
|Overseas                                      
|NEC Networks                                  
|Domestic                                      
|Overseas                                      
|Electron Devices business                     
|Domestic                                      
|Overseas                                      
|Others                                        
|Domestic                                      
|Overseas                                      
|Electronics business total                    
|Domestic                                      
|Overseas                                      
|                                              
|Leasing business                              
|Domestic                                      
|Overseas                                      
|Consolidated total                            
|Domestic                                      
|Overseas                                      
|                                              



(4) Net Sales by Products and Services (Including internal sales to other segments)

|(Billions of yen, millions of U.S.
	  dollars)
|----------------------------------------------
|                                              
|Nine months ended December 31                 
|NEC Solutions                                 
|Systems Integration Services /Software        
|Internet Services/Support Services            
|Servers/Storage Products/Workstations         
|Personal Products                             
|Other Hardware                                
|NEC Networks                                  
|Network Infrastructure                        
|Mobile Terminals                              
|Other                                         
|Electron Devices business                     
|Semiconductors                                
|Displays                                      
|Electronic Components                         



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Media Contacts:
Makoto Miyakawa,
Chris Shimizu,
Daniel Mathieson
Corporate Communication Division
NEC Corporation
TEL: +81-3-3798-6511