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NEC Acquires Shares in Space Sector Joint Venture - NEC Corporation today announced a decision to acquire all shares in NEC TOSHIBA Space Systems Ltd (NTSpace), a joint venture established in partnership with Toshiba Corporation (Toshiba) in 2001- NEC.com
NEC Acquires Shares in Space Sector Joint Venture

 

PRZOOM - /newswire/ - Tokyo, Japan, 2015/02/27 - NEC Corporation today announced a decision to acquire all shares in NEC TOSHIBA Space Systems Ltd (NTSpace), a joint venture established in partnership with Toshiba Corporation (Toshiba) in 2001- NEC.com. NEC; TSE: 6701

   
 
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Shares are due to be acquired from Toshiba on March 31, 2015.

As one of its core businesses, NEC provides "space solutions" that cover everything from satellite systems and terrestrial satellite operation and control systems, to systems for utilizing satellite data.

NTSpace is due to become a wholly owned subsidiary of NEC and change its name to NEC Space Technologies Ltd. on April 1 this year, after which time it will handle design, assembly and testing of sensors and other on-board equipment for satellites and rockets as part of NEC's space business.

NEC has managed the integration of 69 satellites, dating back to Japan's first satellite Osumi (launched in 1970). Others include Hayabusa, the asteroid explorer that successfully returned samples from the asteroid Itokawa, and its successor Hayabusa 2, which was launched in December last year.

In addition to its compact satellite assembly plant operating out of Sagamihara (Kanagawa prefecture), NEC also operates a Satellite Integration Center at its premises in Fuchu (Tokyo). It is planning to establish an integrated in-house production system for its NEXTAR Series of standard satellite systems and develop satellite infrastructure in areas such as environmental monitoring, disaster monitoring and positioning. NEC also intends to actively target demand for satellites in countries new to space exploration in Asia and other parts of the world, with the aim of establishing a \100 billion space-related business by fiscal 2020.

About NEC Corporation
NEC Corporation (nec.com) is a leader in the integration of IT and network technologies that benefit businesses and people around the world. By providing a combination of products and solutions that cross utilize the company's experience and global resources, NEC's advanced technologies meet the complex and ever-changing needs of its customers. NEC brings more than 100 years of expertise in technological innovation to empower people, businesses and society. For more information, visit NEC at nec.com.

Based on its Mid-term Management Plan 2015, the NEC Group globally provides "Solutions for Society" that promote the safety, security, efficiency and equality of society. Under the company's corporate message of "Orchestrating a brighter world," NEC aims to help solve a wide range of challenging issues and to create new social value for the changing world of tomorrow.

NEC is a registered trademark of NEC Corporation. All Rights Reserved. Other product or service marks mentioned herein are the trademarks of their respective owners. ©2015 NEC Corporation.

 
 
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Agency / Source: NEC Corporation

 
 

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NEC Acquires Shares in Space Sector Joint Venture

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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any NEC Corporation securities in any jurisdiction including any other companies listed or named in this release.

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