Posted on 23/12/06
NEC restatement boosts loss in first half
Japanese electronics maker NEC Corp. said yesterday its group loss for the fiscal first half was about $20-million (U.S.) worse than it reported a month ago. NEC revised the group loss to ¥9.93-billion for the six-month period ended Sept. 30 instead of the ¥7.43-billion loss it reported Nov. 21. The company said accounting errors related to its switch from U.S. to Japanese accounting standards caused the mistake. The correction did not affect NEC's forecast for the full year through March.
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