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

TOKYO Thu Jan 30, 2014 6:29am GMT

Related Topics

Quotes

   

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)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.