Davis Polk & Wardwell LLP advised Morgan Stanley & Co. International plc and Daiwa Securities SMBC Europe Limited as representatives of the several international managers on a Regulation S exempt offering by NEC Corporation of 287,500,000 shares of its common stock, as part of a global offering of 575,000,000 shares with gross proceeds of ¥117 billion (US$1.36 billion). The common stock is listed on the Tokyo Stock Exchange.

NEC Corporation is one of the world's leading providers of Internet, broadband network and enterprise business solutions dedicated to meeting the specialized needs of a diversified global base of customers. It delivers tailored solutions in the key fields of computer, networking and electronic devices, by integrating its technical strengths in IT and networks, and by providing advanced semiconductor solutions through NEC Electronics Corporation. As a group, it employs more than 140,000 people worldwide.

The Davis Polk corporate team included partner Theodore A. Paradise and associates Stephen Lindholm and Shinichi Yuhara. Partners Thomas J. Reid of the New York office, Annette L. Nazareth of the Washington DC office, as well as counsel Robert L.D. Colby of the Washington DC office, assisted in the transaction. Nozomi Kameyama and Yuko Ema were the legal assistants for the transaction. All members of the Davis Polk team, unless otherwise noted, are based in the Tokyo office.