With the global economy becoming increasingly Net-oriented, leading Japanese companies are trying to ride out the information technology wave in a desperate bid to survive ever-intensifying competition.

In a measure aimed at saving 100 billion yen in annual production costs, NEC Corp. introduced an Internet-based procurement system in April, linking some 6,500 electronic parts suppliers worldwide.

The move constitutes an effort to reinforce NEC's price competitiveness in response to increasing competition from South Korea and other Asian economies. It shortens the time required for parts procurement, enabling a quicker response to changes in demand.