NEC Corporation

17. Subsequent Events

(1) On April 14, 1997, the parent company issued Y30,000 million ($241,935 thousand) of 1.9 percent unsecured yen bonds due 2003, Y50,000 million ($403,226 thousand) of 2.55 percent unsecured yen bonds due 2007 and Y20,000 million ($161,290 thousand) of 2.7 percent unsecured yen bonds due 2009, by public offerings. The issue price was 100 percent of the face value of the bonds.

(2) In addition to investments described in Note 4, on June 30, 1997, the company purchased 6,772,814 shares of non-voting convertible preferred stock from PBN for Y32,875 million ($265,121 thousand).

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