NEC Management

Management criteria checks 3/4

NEC's CEO is Takayuki Morita, appointed in Apr 2021, has a tenure of 3.08 years. total yearly compensation is ¥149.00M, comprised of 50.3% salary and 49.7% bonuses, including company stock and options. directly owns 0.002% of the company’s shares, worth €407.51K. The average tenure of the management team and the board of directors is 3.1 years and 1.9 years respectively.

Key information

Takayuki Morita

Chief executive officer

JP¥149.0m

Total compensation

CEO salary percentage	50.3%
CEO tenure	3.1yrs
CEO ownership	0.002%
Management average tenure	3.1yrs
Board average tenure	1.9yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Takayuki Morita's remuneration changed compared to NEC's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	JP¥150b
Dec 31 2023	n/a	n/a	JP¥122b
Sep 30 2023	n/a	n/a	JP¥123b
Jun 30 2023	n/a	n/a	JP¥121b
Mar 31 2023	JP¥149m	JP¥75m	JP¥115b
Dec 31 2022	n/a	n/a	JP¥143b
Sep 30 2022	n/a	n/a	JP¥132b
Jun 30 2022	n/a	n/a	JP¥127b
Mar 31 2022	JP¥125m	JP¥75m	JP¥141b

Compensation vs Market: Takayuki's total compensation ($USD972.67K) is below average for companies of similar size in the German market ($USD5.55M).

Compensation vs Earnings: Takayuki's compensation has been consistent with company performance over the past year.

CEO

Takayuki Morita (63 yo)

3.1yrs

Tenure

JP¥149,000,000

Compensation

Mr. Takayuki Morita serves as President and Chief Executive Officer at NEC Corporation since April 1, 2021. Mr. Morita served as Chief Financial Officer at NEC Corp. since June 25, 2018 until April 1, 2021...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Takayuki Morita	President	3.1yrs	JP¥149.00m	0.0022% ¥ 407.5k
Osamu Fujikawa	Corporate EVP	3.3yrs	no data	0.0016% ¥ 298.8k
Masakazu Yamashina	Corporate Senior EVP & Co-COO	1.3yrs	no data	no data
Kazuhiro Sakai	Corporate Senior EVP & Co-COO	1.3yrs	no data	no data
Motoo Nishihara	Corporate EVP	5.1yrs	no data	no data
Hiroshi Kodama	Corporate EVP	5.3yrs	no data	no data
Yuko Yamamoto	Corporate SVP	1.3yrs	no data	no data
Mayuko Tatewaki	Corporate SVP and MD of Marketing & Alliance Promotion Division	1.3yrs	no data	no data
Daisuke Horikawa	Corporate EVP	1.3yrs	no data	no data
Yutaka Ukegawa	Corporate EVP & President of Cross-Industry Business Unit	no data	no data	no data
Fumiaki Matsubara	Corporate EVP & Chief Japan Commercial Officer	8.1yrs	no data	no data
Naoki Yoshida	Corporate SVP & President of DGDF Business Unit	7.1yrs	no data	no data

3.1yrs

Average Tenure

61yo

Average Age

Experienced Management: NEC1's management team is considered experienced (3.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Takayuki Morita	President	7.9yrs	JP¥149.00m	0.0022% ¥ 407.5k
Osamu Fujikawa	Corporate EVP	no data	no data	0.0016% ¥ 298.8k
Masashi Oka	Independent Director	1.9yrs	no data	0.00075% ¥ 135.8k
Hajime Matsukura	Corporate Secretary & Director	6.9yrs	no data	0.0027% ¥ 489.0k
Kuniharu Nakamura	Independent Outside Director	4.9yrs	no data	no data
Joji Okada	Independent Outside Director	less than a year	no data	no data
Yoshihito Yamada	Outside Independent Director	less than a year	no data	no data
Christina Linn Ahmadjian	Independent Outside Director	1.9yrs	no data	0.00011% ¥ 19.9k
Takashi Niino	Chairman of the Board	1.9yrs	JP¥150.00m	0.0054% ¥ 978.0k
Harufumi Mochizuki	Independent Outside Director	less than a year	no data	0.00075% ¥ 135.8k
Kyoko Okada	Outside Independent Director	less than a year	no data	no data
Shinobu Obata	Director	less than a year	no data	0.0014% ¥ 244.5k

1.9yrs

Average Tenure

64yo

Average Age

Experienced Board: NEC1's board of directors are not considered experienced ( 1.9 years average tenure), which suggests a new board.

NEC Management

Management criteria checks 3/4

Key information

Recent management updates

NEC Corporation, Annual General Meeting, Jun 21, 2024

Less than half of directors are independent

NEC Corporation, Annual General Meeting, Jun 22, 2022

Less than half of directors are independent

NEC Corp. Announces Executive Changes

Recent updates

Full year 2024 earnings released: EPS: JP¥561 (vs JP¥425 in FY 2023)

NEC Corporation, Annual General Meeting, Jun 21, 2024

NEC Corporation to Report Fiscal Year 2024 Results on Apr 26, 2024

Upcoming dividend of JP¥60.00 per share

Third quarter 2024 earnings released: EPS: JP¥79.29 (vs JP¥83.54 in 3Q 2023)

NEC Reportedly Plans to Cut Stake Japan Aviation Electronics Industry

NEC Corporation to Report Q3, 2024 Results on Jan 30, 2024

Aviat Networks, Inc. (NasdaqGS:AVNW) acquired Wireless Backhaul Business from NEC Corporation (TSE:6701) for $66.4 million.

Second quarter 2024 earnings released: EPS: JP¥76.22 (vs JP¥65.58 in 2Q 2023)

NEC Corporation to Report Q2, 2024 Results on Oct 30, 2023

Upcoming dividend of JP¥60.00 per share at 1.4% yield

First quarter 2024 earnings released: JP¥27.74 loss per share (vs JP¥50.88 loss in 1Q 2023)

NEC Corporation to Report Q1, 2024 Results on Jul 28, 2023

Transgene and NEC Present New Data on TG4050, an Individualized Cancer Vaccine, Showing it Induces Specific Immune Responses against Head and Neck Carcinoma at ASCO 2023

Aviat Networks, Inc. (NasdaqGS:AVNW) entered into an agreement to acquire Wireless Backhaul Business from NEC Corporation (TSE:6701) for $70 million.

Full year 2023 earnings released: EPS: JP¥425 (vs JP¥519 in FY 2022)

Upcoming dividend of JP¥55.00 per share at 2.2% yield

Third quarter 2023 earnings released: EPS: JP¥83.67 (vs JP¥42.54 in 3Q 2022)

NEC Corporation Provides Consolidated Earnings Guidance for the Year Ending March 31, 2023

NEC Corporation to Report Q3, 2023 Results on Jan 30, 2023

Less than half of directors are independent

Second quarter 2023 earnings released: EPS: JP¥65.59 (vs JP¥48.15 in 2Q 2022)

NEC Corporation to Report Q2, 2023 Results on Oct 28, 2022

Upcoming dividend of JP¥55.00 per share

NEC Corporation (TSE:6701) announces an Equity Buyback for 6,700,000 shares, representing 2.46% for ¥30,000 million.

First quarter 2023 earnings released: JP¥50.88 loss per share (vs JP¥0.83 profit in 1Q 2022)

NEC Corporation to Report Q1, 2023 Results on Jul 28, 2022

NEC Corporation (TSE:6701) signed an agreement to acquire Aspire Technology.

Full year 2022 earnings released

ENEOS Corporation acquired electric vehicle charging service business of NEC Corporation from NEC Corporation (TSE:6701).

NEC Corporation, Annual General Meeting, Jun 22, 2022

Full year 2022 earnings released: EPS: JP¥519 (vs JP¥557 in FY 2021)

Less than half of directors are independent

NEC Corporation to Report Fiscal Year 2022 Results on Apr 28, 2022

Upcoming dividend of JP¥50.00 per share

Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint

NEC Corporation Announces Earnings Forecast for Fiscal Year Ending March 2022

Transgene and NEC Corporation Announce Positive Preliminary Data from Phase I Studies of TG4050, A Novel Individualized Neoantigen Cancer Vaccine

Second quarter 2022 earnings released: EPS JP¥48.15 (vs JP¥59.47 in 2Q 2021)

Upcoming dividend of JP¥50.00 per share

NEC Corporation’s AI Supports Doctors to Detect Neoplasia in Barrett’s Esophagus During Endoscopic Procedures

Full year 2021 earnings released: EPS JP¥557 (vs JP¥385 in FY 2020)

NEC Corporation Provides Dividend Guidance for the Year Ending March 31, 2022

Upcoming dividend of JP¥40.00 per share

NEC Corporation Qualifies 24 Fiber Pair Subsea Telecom Cable System

An unknown buyer acquired an unknown stake in Hua Hong Semiconductor Limited (SEHK:1347) from NEC Corporation (TSE:6701).

Third quarter 2021 earnings released: EPS JP¥160 (vs JP¥77.18 in 3Q 2020)

Revenue beats expectations

New 90-day high: €46.56

NEC Corporation Releases “WISE VISION Endoscopy” in Europe and Japan

NEC Corporation to Report Q3, 2021 Results on Jan 29, 2021

NEC Corporation (TSE:6701) completed the acquisition of WP/AV CH Holdings I B.V. from A-family S.à r.l. and WP RR Financial Investments II B.V.

NEC Selected by Telefónica Germany as System Integrator for First Open RAN Pilot in Germany

New 90-day low: €42.48

NEC Corp. Announces Executive Changes

Revenue misses expectations

Second quarter 2021 earnings released: EPS JP¥59.47

Sharp Corporation (TSE:6753) completed the acquisition of 66% stake in NEC Display Solutions, Ltd. from NEC Corporation (TSE:6701).

NEC Corporation (TSE:6701) agreed to acquire Avaloq group AG from funds managed by Warburg Pincus LLC and founder and employees of Avaloq for CHF 2.1 billion.

Transgene, NEC and BostonGene Announce Strategic Collaboration for Two Ongoing Clinical Trials for Patients with Ovarian and Head & Neck Cancers

NEC Corporation to Report Q2, 2021 Results on Oct 29, 2020

NEC Corporation (TSE:6701) and Nec Management Partner, Ltd. completed the acquisition of 49% stake in Financial Link Company, Limited from Sumitomo Mitsui Banking Corporation.

New 90-day high: €48.50

J-Star No.4 Investment Limited Partnership, a fund managed by J-STAR Co., Ltd., agreed to acquire an unknown stake in Sincere Corporation from the owners of Sincere Corporation and NEC Corporation (TSE:6701).

Nissan Motor Co., Ltd. (TSE:7201) completed the acquisition of remaining 49% stake in Automotive Energy Supply Corporation from NEC Corporation (TSE:6701) and NEC Energy Devices, Ltd.

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team