Tokyo, January 30, 2014 - NEC Corporation (NEC; TSE 6701) and Japan Industrial Partners, Inc. (Japan Industrial Partners) today announced an agreement to transfer all of NEC's shares in NEC BIGLOBE, Ltd. (NEC BIGLOBE), an NEC subsidiary, to a special purpose company owned by Japan Industrial Partners ‡W Investment Limited Partnership and others in order to achieve further business expansion for NEC BIGLOBE.
Under the agreement, the transfer of all of NEC's shares in NEC BIGLOBE will be completed by the end of March 2014, and business operations will be carried out under a new organizational structure beginning in April.
In 1996, NEC initiated BIGLOBE as an internet service provider (ISP), then established NEC BIGLOBE in 2006 as a separate spin-off business. Since then, NEC BIGLOBE has expanded its business with the growth of the Internet and has contributed to providing stable earnings for NEC.
This agreement will enable NEC BIGLOBE to receive financial and management support from Japan Industrial Partners in order for it to realize further business growth.
NEC's enterprise system integration and service business will continue to collaborate with NEC BIGLOBE's knowhow and services in support of current and future customers.
Japan Industrial Partners has invested in a wide range of business divisions and subsidiaries of major corporations and has extensive experience in strategic initiatives that maximize business value. The combination of NEC BIGLOBE's competitiveness in the ISP business and its knowhow of Internet service platform operations with Japan Industrial Partners' management support knowhow is expected to result in further growth for NEC BIGLOBE.
Making the most of its more than three million broadband and mobile subscribers, its highly reliable Internet service platforms, and its knowhow in operating them, NEC BIGLOBE aims to activily expand its business while creating new value added services through the combination of broadband and mobile communications.
About NEC BIGLOBE.
Name |
NEC BIGLOBE, Ltd. |
Location |
11-1, Osaki 1-chome, Shinagawa-ku, Tokyo |
Representative Officer |
Yoshiyuki Koseki, CEO, President |
Line of business |
Information services using networks such as the Internet;
information provider services and related businesses
|
Capital |
10,346,125,000 yen |
Date established |
July 3, 2006 |
Major shareholder and shareholding ratio |
NEC Corporation (78.0%), Sumitomo Corporation (7.0%), Daiwa Securities Group Inc. (5.0%), Sumitomo Mitsui Banking Corporation (5.0%), Dentsu Inc. (2.5%), Hakuhodo Inc. (2.5%) |
About Japan Industrial Partners
Name |
Japan Industrial Partners, Inc. |
Location |
2-1-1 Marunouchi Chiyoda-ku Tokyo |
Representative Officer |
Hidemi Moue,CEO |
Line of business |
Private equity fund management |
Capital |
100,000,000 yen |
Date established |
November 1 2002 |
About NEC Corporation
Name |
NEC Corporation |
Location |
7-1, Shiba 5-chome, Minato-ku, Tokyo |
Representative Officer |
Nobuhiro Endo, President |
Line of business |
Public Business, Enterprise Business,
Telecom Carrier Business, System Platform Business |
Capital |
397,200,000,000 yen |
Date established |
July 17, 1899 |
* The names of companies and products mentioned in this document are trademarks or registered trademarks of their respective companies.
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