News Releases 2002

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Corporate
Japan
May 15, 2002

Honda To Strengthen Vehicle Electronic Control Unit Operations

Honda Motor Co., Ltd. (Hiroyuki Yoshino, President & C.E.O.) and NEC Corp. (Koji Nishigaki, President ) announced today that they have reached a general agreement regarding the idea of shifting NEC's vehicle electronic control unit operations into the Honda group.

Through this agreement, Honda aims to strengthen its vehicle control electronics operations in response to the increasingly advanced nature of vehicle electronic technologies. This development will also allow NEC to further concentrate its efforts on its core technologies - device solutions such as system LSI for vehicles and ITS solutions such as communication infrastructures.

Specifically, in order to assimilate NEC's vehicle electronic control unit operations, Honda will make an increased investment in Nestec Co., Ltd., an affiliate of Honda, gradually making it a Honda subsidiary. NEC is considering a plan to invest in a 1/3 share of this newly organized company to facilitate the smooth function of its operations.

In the future, this Honda subsidiary will mainly be involved in the development, manufacture and sale of vehicle electronic control units for chassis related control thus fully exploiting the control and sensing technologies which NEC has developed thus far.

Nestec Co., Ltd.
President :Yoshifumi Hagiwara
Established :October 1, 1996
Location :Utsunomiya, Tochigi
Number of Employees :100
Capital :300 million yen (Showa 35%, Nissin Kogyo 35%, Honda 20%, Keihin 10%)
Sales :approx. 3.7 billion yen
Business :Development, manufacture and sale of vehicle electronic units such as ABS, EPS etc.
NEC Electron Devices, Automotive Electronics Division
Offices : Japan (Technology Development) NEC Shonan Technical Center (Oui-machi, Ashigarakami-gun, Kanagawa)
(Sales) Utsunomiya, Tochigi·Minato-ku, Tokyo
U.S. (Development, Sales) Atlanta·Detroit
Employees : 200
Sales : 22.5 billion yen (approx. 60% to Honda)
Business : Development, manufacture and sale of vehicle electronic control units such as ABS, TCS, SRS airbag, EPS etc.

Image of new company organization
Planned establishment date :Autumn, 2002
Employees :300
Business :Development, manufacture and sale of vehicle electronic control units