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Regarding the transfer of shares in Japan Aviation Electronics Industry, an affiliate accounted for using the equity method
TOKYO, October 30, 2025 - NEC Corporation (NEC; TSE: 6701) has decided to transfer the majority of its shares in Japan Aviation Electronics Industry, Limited (JAE; TSE: 6807), an affiliate accounted for using the equity method, to KYOCERA Corporation (Kyocera; TSE: 6971). The share transfer is scheduled for October 31 of this year.
As NEC focuses on IT services and social infrastructure businesses, JAE, whose core business is connectors, was transitioned from a consolidated subsidiary of NEC to an affiliate accounted for using the equity method in March 2024. Since then, NEC has been reviewing JAE's positioning.
Recently, Kyocera proposed to acquire NEC’s shares in JAE. NEC decided to accept the share transfer, as the collaboration with Kyocera will contribute to JAE's medium- to long-term business growth and profitability improvement, and the share transfer makes economic sense for NEC.
As a result of the share transfer, JAE will no longer be an affiliate accounted for using the equity method of NEC.
Share transfer details
| Number of shares held before the transfer | 22,578,269 shares (NEC's percentage of ownership of voting rights: 33.51%) |
| Number of shares to be transferred | 22,232,269 shares |
| Number of shares held after the transfer | 346,000 shares (NEC's percentage of ownership of voting rights: 0.51%) |
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