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Japan's NEC sells 2.3 pct stake in Elpida Memory for 14 bln yen


Published : Thu, 22 Mar 2007 09:49
By : Agencies
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TOKYO (XFN-ASIA) - NEC Corp has sold 3.0 mln shares in Elpida Memory Inc, a stake of 2.3 pct, for 14 bln yen, NEC Corp said.

Its said the sale would generate a net capital gain of 10 bln yen, but would not affect its profit forecast, because the capital gain was already reflected in its estimate.

The sale reduces NEC's interest in Elpida Memory to 6.0 pct from 8.3 pct.

(1 usd = 117.43 yen)

yasuhiko.seki@xfn.com

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