NEC Corporation Establishes NEC X, Inc. in Silicon Valley; Osamu Fujikawa to Become the CEO of NEC X, Inc
June 19, 2018 at 10:00 pm EDT
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NEC Corporation announced the establishment of NEC X Inc. (NEC X) in Santa Clara, California, in the heart of Silicon Valley, in order to capitalize on the region's startup ecosystem and accelerate the development of new business based on the strengths of NEC's Central Research Laboratories technologies. NEC X will leverage the ecosystem of NEC's talent and technologies in order to promote commercialization through open innovation. The new company will cultivate competitive technologies and human resources that possess an entrepreneurial spirit and make important contributions to NEC's creation of new social value. NEC has a wide range of original and world leading technologies that have sprung from the company's global research centers. Until now, these have primarily been used for product development and commercialization within the company. NEC X will encourage the participation of startups and venture capital firms endowed with the innovative business ideas of Silicon Valley, as well as receive support in the creation of new business from accelerator companies, while joining an ecosystem of new business development. These initiatives will result in the creation of an outbound style of business that provides technology and new business ideas. As one of the company's first initiatives, NEC X will begin implementing the NEC Accelerator Program in July 2018 in order to launch the first startups in early 2019. This program is being created together with Singularity University.
Osamu Fujikawa, senior vice president with NEC and head of the company's Business Innovation Unit, is slated to become the CEO of NEC X as it begins operations in July 2018.
NEC Corporation specializes in the manufacturing and marketing computing and telecommunication equipments. Net sales break down by activity as follows:
- IT services (53.9%): integration, maintenance, outsourcing, support services, etc.;
- sale of IT infrastructure products and network systems (17%). In addition, the group provides network services;
- sale of digital government and financial services software (14.9%);
- other (12.7%): sale of hardware, mobile telephones, lighting products, energy management and storage systems, etc.
Net sales are distributed geographically as follows: Japan (75%), Asia/Pacific (11.2%), Europe/Middle East/Africa (9.8%) and Americas (4%).