NEC Corporation

Financial Highlights

NEC CORPORATION AND CONSOLIDATED SUBSIDIARIES
For the six-month periods ended September 30, 1994, 1995 and 1996

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                                                                                                                In thousands of      Percent
                                                                             In millions of yen                   U.S.dollars        change
                                                              ---------------------------------------------    ------------------  
                                                                 1994            1995             1996               1996           1996/1995
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Net sales ...................................................Y 1,741,490     Y 1,921,737      Y 2,242,541        $ 20,022,688          17%
Net income ..................................................     11,342          20,237           31,211             278,670          54
Per share of common stock (in yen and U.S. dollars):
  Net income ................................................       7.36           12.24            17.82               0.159          46
  Cash dividends ............................................       5.00            5.00             5.50               0.049          10
Per American Depositary Share, each representing
 5 shares of common stock (in yen and U.S. dollars):
  Net income ................................................         37              61               89                0.79
  Cash dividends ............................................         25              25               28                0.25
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Notes:
  1. U.S. dollar amounts are translated from yen, for convenience only, at the rate of Y112=US$1.
  2. Computation of net income per share is based on the average number of shares of common stock outstanding during each year, with consideration of the dilutive effect of common stock equivalents.

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