Feeds

NEC chairman to spend more time with his family

Resignation follows defence-procurement scandal. H1 1999 loss hasn't helped either

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

NEC chairman Tadahiro Sekimoto has resigned following revelations of the company's involvement in a contract-padding scandal, Reuters reported today. Fortunately for Mr Sekimoto, Seppuku is no longer the only answer to public disgrace -- Sekimoto has not been implicated in the scandal, and said: "I am not taking responsibility [for the scandal], but as the highest ranking official at NEC I want to socially and morally put an end to this." Presumably that's why NEC will be retaining his services as an advisor to the company. NEC president Hisashi Kaneko retains his post. The scandal emerged last month when three NEC officials were indicted for persuading the Japanese Defence Agency to reduce payments NEC was to the Agency for overcharging it for equipment it supplied. In exchange for the reductions, NEC employed formed Agency staff members as executives. Meanwhile, the troubled Japanese economy resulted in a fall of 11 per cent in NEC's sales for the first half of the company's 1999 fiscal year, compared to the same period last year. That put revenue for the period at Y2113 billion, resulting in a Y24.5 billion pre-tax loss. Looking ahead, NEC said it intends to beef up its systems integration business while restructuring its semiconductor operation. It also intends to embark on a programme to reduce fixed expenses and "shift management resources", though it was not forthcoming on details. ® Click for more stories

The Power of One Infographic

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.