*** For immediate use May 19, 2010
Tokyo, May 19, 2010 - The European Commission announced today a decision to impose fines on companies in the DRAM industry that infringed the European competition laws in the European Economic Area (EEA) from 1998 to 2002. NEC Corporation (NEC) confirms receipt of the Commission's notice communicating the decision.
The Commission imposes fines of Euro 10,296,000 on NEC, Euro 2,124,000 jointly and severally on NEC and Hitachi, Ltd. (Hitachi), and Euro 8,496,000 jointly and severally on NEC, Hitachi and Elpida Memory Inc. (Elpida). The fines imposed jointly and severally relate to the period after March 2001, when NEC transferred its overseas DRAM sales business to Elpida, a joint venture company with Hitachi at that time.
The Commission's investigation began in 2002. NEC cooperated fully with the Commission during the course of the investigation, and ultimately settled the case with the Commission pursuant to the Commission's Settlement Notice of 30 June 2008.
This will not affect the financial forecast in the "Full Year Consolidated Financial Results for the Fiscal Year Ended March 31, 2010" that was announced on May 12, 2010.
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The management targets included in this material are not projections, and do not represent management's current estimates of future performance. Rather, they represent targets that management will strive to achieve through the successful implementation of NEC's business strategies.
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Kosuke Yamauchi
NEC Corporation
+81-3-3798-6511
E-Mail：k-yamauchi@ce.jp.nec.com
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