Japan’s semiconductor industry is expected to grow by 15% in 2003, NEC chairman Hajime Sasaki said amid strong demand in digital and imaging products.

The fast recovery of Japan’s semiconductor industry, along with the nearly complete restructuring of Japanese companies since 2002, has helped Japan’s economy bottom out from its prolonged slump, Sasaki said. Japan is also ready for another higher growth in 2004 as its overall exports have started gaining momentum and private consumption has begun picking up.

NEC’s revenues in fiscal 2003 (April 2003-March 2004) are expected to total 4.87 trillion yen, an increase of 2% from a year earlier, Sasaki predicted. NEC’s main products include PCs, PC-related solutions, semiconductors and telecommunications and Internet-related devices, according to Sasaki.

By: DocMemory
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