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Notes on forward looking statements

This material contains forward-looking statements pertaining to the strategies, financial targets, technology, products, services, and the business performance of NEC Corporation and its consolidated subsidiaries (collectively "NEC"). The written forward-looking statements may appear in other documents that NEC files with stock exchanges or regulatory authorities, such as the director of the Kanto Finance Bureau, and in reports to shareholders and other communications. NEC relies on certain safe-harbors for forward-looking statements in making these disclosures. Forward-looking statements necessarily depend on currently available assumptions, data, or methods that may be incorrect or imprecise, and NEC may not be able to realize the results as expected. You should not place undue reliance on forward-looking statements, which reflect NEC's analysis and expectations only. Forward-looking statements are not guarantees of future performance and involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. Among the factors that could cause actual results to differ materially from such statements include (i) global economic conditions and general economic conditions in NEC's markets; (ii) fluctuating demand for, and competitive pricing pressure on, NEC's products and services in NEC’s markets; (iii) NEC's ability to continue to win acceptance of NEC's products and services in highly competitive markets; (iv) NEC's ability to expand into foreign markets, such as China; (v) regulatory change and uncertainty and potential legal liability relating to NEC's business and operations; (vi) NEC's ability to restructure, or otherwise adjust, its operations to reflect changing market conditions; (vii) movement of currency exchange rates, particularly the rate between the yen and the U.S. dollar; (viii) the impact of unfavorable conditions or developments, including share price declines, in the equity markets that may result in losses from devaluation of listed securities held by NEC; and (ix) the impact of any regulatory action or legal proceeding against NEC. Any forward-looking statements speak only as of the date on which they are made. New risks and uncertainties come up from time to time, and it is impossible for NEC to predict these events or how they may affect NEC. NEC does not undertake any obligation to update or revise any of the forward-looking statements, whether as a result of new information, future events, or otherwise.

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.

Finally, NEC cautions you that the statements made in this material are not an offer of securities for sale. Securities may not be offered or sold in any jurisdiction in which required registration is absent or an exemption from registration under the applicable securities laws is not granted.