OREANDA-NEWS. NEC Corporation announced revisions to the consolidated financial forecasts announced on January 30, 2014 for the fiscal year ended March 31, 2014 as well as the recording of extraordinary loss.

NEC will announce financial results for the fiscal year ended March 31, 2014 on April 28, 2014.

NEC forecasts net sales of 3,043.0 billion yen, 43.0 billion yen more than the previous forecast, mainly due to increased sales from the System Platform business, the Telecom Carrier business and the Enterprise business.

NEC forecasts operating income of 106.0 billion yen, 6.0 billion yen more than the previous forecast, mainly due to increased sales. NEC also forecasts ordinary income of 69.0 billion yen, almost the same as the previous forecast, due to increased non-operating expenses, despite increased operating income. NEC forecasts net income of 33.0 billion yen, 13.0 billion yen more than the previous forecast, mainly due to extraordinary income as a result of gain on sales of subsidiaries and affiliates' stocks.

As disclosed on October 30, 2013, NEC recorded an extraordinary loss of approximately 14.0 billion yen as business structure improvement expenses for the first half of the fiscal year ended March 31, 2014 (from April 1, 2013 to September 30, 2013) due to a review of the mobile phone handset business conducted by NEC CASIO Mobile Communications, Ltd. In addition to this expense, the following costs are also expected to be recorded, resulting in extraordinary loss from business structure improvement expenses of approximately 25.0 billion yen in the fiscal year ended March 31, 2014.