In a effort to play a larger part in the ongoing information technology revolution, computer manufacturer NEC Corp. and electric appliance maker Mitsubishi Electric Corp. on Wednesday unveiled expansionary business plans.
NEC plans to spend 600 billion yen on mergers and acquisitions of Internet-related businesses over a three-year period through March 2003, said Koji Nishigaki, president of Japan's leading computer maker.
"On top of some 1 trillion yen in investments on facilities and equipment (in the three-year term), we are planning to make 600 billion yen in equity investments to become more competitive in the global market. We already have some projects ongoing," Nishigaki said.