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Page 1: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, JapanTelephone: +81-3-3454-1111

0910-0229

Annual Report 2015 (Financials)Year ended March 31, 2015

Annual R

eport 20

15

(Financials)NEC Corporation

Page 2: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111
Page 3: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

03 Management’s Discussion and Analysis

25 Consolidated Balance Sheets

27 Consolidated Statements of Operations

28 Consolidated Statements of Comprehensive Income

29 Consolidated Statements of Changes in Net Assets

31 Consolidated Statements of Cash Flows

33 Notes to Consolidated Financial Statements

67 Independent Auditor’s Report

Note: U.S. dollar amounts are translated from yen, for convenience only, at the rate of ¥120 = U.S.$1.

Contents

Page 4: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

03 NEC CorporationAnnual Report 2015

Page 5: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

04NEC CorporationAnnual Report 2015

Page 6: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

05 NEC CorporationAnnual Report 2015

Page 7: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

06NEC CorporationAnnual Report 2015

Page 8: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

07 NEC CorporationAnnual Report 2015

Page 9: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

08NEC CorporationAnnual Report 2015

Page 10: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

09 NEC CorporationAnnual Report 2015

Page 11: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

10NEC CorporationAnnual Report 2015

Page 12: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

11 NEC CorporationAnnual Report 2015

Page 13: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

12NEC CorporationAnnual Report 2015

Page 14: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

13 NEC CorporationAnnual Report 2015

Page 15: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

14NEC CorporationAnnual Report 2015

Page 16: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

15 NEC CorporationAnnual Report 2015

Page 17: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

16NEC CorporationAnnual Report 2015

Page 18: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

17 NEC CorporationAnnual Report 2015

Page 19: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

18NEC CorporationAnnual Report 2015

Page 20: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

19 NEC CorporationAnnual Report 2015

Page 21: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

20NEC CorporationAnnual Report 2015

Page 22: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

21 NEC CorporationAnnual Report 2015

Page 23: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

22NEC CorporationAnnual Report 2015

Page 24: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

23 NEC CorporationAnnual Report 2015

Page 25: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

24NEC CorporationAnnual Report 2015

Page 26: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

25 NEC CorporationAnnual Report 2015

Page 27: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

26NEC CorporationAnnual Report 2015

Page 28: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

27 NEC CorporationAnnual Report 2015

Page 29: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

28NEC CorporationAnnual Report 2015

Page 30: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

29 NEC CorporationAnnual Report 2015

Page 31: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

30NEC CorporationAnnual Report 2015

Page 32: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

31 NEC CorporationAnnual Report 2015

Page 33: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

32NEC CorporationAnnual Report 2015

Page 34: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

33 NEC CorporationAnnual Report 2015

Page 35: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

34NEC CorporationAnnual Report 2015

Page 36: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

35 NEC CorporationAnnual Report 2015

Page 37: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

36NEC CorporationAnnual Report 2015

Page 38: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

37 NEC CorporationAnnual Report 2015

Page 39: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

38NEC CorporationAnnual Report 2015

Page 40: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

39 NEC CorporationAnnual Report 2015

Page 41: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

40NEC CorporationAnnual Report 2015

Page 42: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

41 NEC CorporationAnnual Report 2015

Page 43: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

42NEC CorporationAnnual Report 2015

Page 44: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

43 NEC CorporationAnnual Report 2015

Page 45: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

44NEC CorporationAnnual Report 2015

Page 46: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

45 NEC CorporationAnnual Report 2015

Page 47: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

46NEC CorporationAnnual Report 2015

Page 48: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

47 NEC CorporationAnnual Report 2015

Page 49: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

48NEC CorporationAnnual Report 2015

Page 50: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

49 NEC CorporationAnnual Report 2015

Page 51: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

50NEC CorporationAnnual Report 2015

Page 52: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

51 NEC CorporationAnnual Report 2015

Page 53: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

52NEC CorporationAnnual Report 2015

Page 54: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

53 NEC CorporationAnnual Report 2015

Page 55: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

54NEC CorporationAnnual Report 2015

Page 56: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

55 NEC CorporationAnnual Report 2015

Page 57: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

56NEC CorporationAnnual Report 2015

Page 58: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

57 NEC CorporationAnnual Report 2015

Page 59: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

58NEC CorporationAnnual Report 2015

Page 60: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

59 NEC CorporationAnnual Report 2015

Page 61: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

60NEC CorporationAnnual Report 2015

Page 62: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

61 NEC CorporationAnnual Report 2015

Page 63: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

62NEC CorporationAnnual Report 2015

Page 64: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

63 NEC CorporationAnnual Report 2015

Page 65: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

64NEC CorporationAnnual Report 2015

Page 66: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

65 NEC CorporationAnnual Report 2015

Page 67: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

66NEC CorporationAnnual Report 2015

Page 68: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

67 NEC CorporationAnnual Report 2015

Page 69: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

68NEC CorporationAnnual Report 2015

Page 70: Annual Report 2015 (Financials) - NEC · Annual Report 2015 (Financials) Year ended March 31, 2015 7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, Japan Telephone: +81-3-3454-1111

7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, JapanTelephone: +81-3-3454-1111

0910-0229

Annual Report 2015 (Financials)Year ended March 31, 2015

7-1, Shiba 5-chome, Minato-ku, Tokyo 108-8001, JapanTelephone: +81-3-3454-1111

0910-0229

Annual Report 2015 (Financials)Year ended March 31, 2015

NEC Corporation


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