A message from CEO Takayuki Morita for the new fiscal year: NEC’s transformation efforts in FY2023

TOKYO, Apr 3, 2023 – (JCN Newswire) – Today marks the start of FY2023, a year of pivotal milestones for NEC.

This is not only the third year but also the midway point of our Mid-term Management Plan 2025, which was formulated in May 2021. It is also the year in which we will demonstrate whether we have successfully built on the initiatives undertaken thus far and made strides toward the goals we have committed to internally and externally. As we usher in this new fiscal year, I would like to take this opportunity to convey to you our company’s firm resolve.

In recent years, NEC has implemented numerous transformations based on the NEC Way, a common set of values that form the basis for how the entire NEC Group conducts itself. These include workstyle reforms, the promotion of Inclusion & Diversity, the review of personnel management, the transformation of people and culture, and digital transformation (DX) utilizing cutting-edge technologies. We have also made changes in our organizational structure to ensure comprehensive business planning and to maximize the value we provide to customers, while extensively delegating authority to facilitate risk-taking and swift decision-making. The results are evident, and the insights gained along the way have enabled us to provide DX proposals to our customers.

The first transformation we will focus on in this new fiscal year will be starting off with the best new organizational structure possible. To this end, we will be establishing the Digital Platform Business Unit, a new global business structure, centralizing DX products and services to streamline processes within the NEC Group, and capable of providing value tailored to the distinct characteristics of individual markets. We also have plans to transition to a Company with a Nominating Committee, etc. in June, as well as to accelerate decision-making by management and to strengthen governance. This organizational structure will remain in place until the final fiscal year covered in the Mid-term Management Plan 2025.

Why are we engaging in these transformation efforts’ The world is currently facing many uncertainties, and both our company and our customers are navigating turbulent times. Safety and security, especially in the digital world, are undeniably experiencing unprecedented instability.

We recognize these changes and will continue to make our own changes accordingly. Doing so will allow us to provide society and our customers with the most important value at present-xunwavering trust. Our “Truly Open, Truly Trusted” message demonstrates our commitment to doing just that.

Truly Open, Truly Trusted -This is NEC.: The NEC Group’s Purpose | NEC
www.nec.com/en/global/about/purpose/open-trusted/index.html

Our customers in the mission critical sector have voiced their expectations for NEC’s contributions, and we find ourselves being called upon more and more often to offer our input as a prominent technology company at major international conferences. Moreover, we are expanding and deepening our partnerships with a number of global companies and international organizations. I find this to be encouraging as it is a sign that we are headed in the right direction with our mid-term management plan.

We will now further accelerate efforts to transform ourselves. All 120,000 members of the NEC Group remain firmly committed to moving forward together with society and our customers.

Takayuki Morita
President and CEO of NEC

About NEC Corporation

NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of “Orchestrating a brighter world.” NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at www.nec.com.

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