NEC says to book 27 bln yen profit on sale of Internet provider

TOKYO Thu Jan 30, 2014 6:29am GMT

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TOKYO Jan 30 (Reuters) - Japanese systems integrator NEC Corp said on Thursday it has agreed to sell its Internet provider NEC Biglobe to Japan Industrial Partners and would book a special profit of about 27 billion yen ($264 million) on the sale in the current business year to March.

The Nikkei business newspaper reported last week that NEC was in late-stage talks to sell Biglobe for about 70 billion yen.

Financially strapped NEC, which on Thursday also posted a 15 billion yen net loss for the nine months to end-December, is unloading unprofitable operations and focusing on its systems integration business. ($1 = 102.2500 Japanese yen) (Reporting by Maki Shiraki; Editing by Edmund Klamann and Dominic Lau)


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