NEC Revises Earnings Guidance for the Fiscal Year Ending March 2018
June 06, 2017 at 11:59 am
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NEC revised earnings guidance for the fiscal year ending March 2018. For the year, the proceeds from share sale is expected to bring in more than JPY 5 billion ($45.2 million) for the company and lift net profit by about JPY 3 billion after taxes. NEC has forecast a 10% rise in group net profit to JPY 30 billion, but its guidance does not take into account the Renesas divestment, which could add about 10% to its bottom line. The proceeds from share sale will boost free cash flow, which is forecast at JPY 80 billion but now looks likely to exceed JPY 90 billion.
NEC Capital Solutions Ltd is a Japan-based company mainly engaged in the provision of finance services such as leasing, installments, and corporate loans to government offices, local governments and large and small companies. It operates through four business segments. Leasing and Installment segment is engaged in the leasing and installment sale of information processing equipment, communications equipment, office equipment, as well as industrial, civil engineering and construction machinery. Finance segment is engaged in money lending, factoring and securities investment business. Lisa segment is engaged in principal investment business, debt investments, real estate business, as well as provision of finance and advisory services. The Others segment is engaged in sale of secondhand products, collection of transaction fees, health care related business, as well as solar power generation and distribution business. It is also engaged in the operation of hotels and consulting business.