TOKYO, September 14 /PRNewswire/ --     NEC Corporation (NEC; TSE: 6701), Casio Computer Co., Ltd.
(Casio; TSE: 6952), and Hitachi, Ltd. (Hitachi; TSE: 6501/NYSE: HIT) today
announced an agreement to integrate their mobile terminal businesses in April
2010 through the establishment of a joint venture company.

1. About the Business Integration

NEC develops and manufactures mobile terminals for NTT DOCOMO,
INC. and SoftBank Mobile Corp. that capitalize on the company's core
competencies and incorporate wireless communications technologies such as
W-CDMA (*1) and LTE (*2), Linux (*3) platform development, low power
consumption innovations and ultra-thin technologies.

In 2004, Casio and Hitachi jointly established Casio Hitachi
Mobile Communications Co., Ltd. (CHMC) as a mobile terminal business company.
CHMC capitalizes on image technologies from Casio's digital camera business,
water/shock resistance technologies from Casio's wristwatch development and
Hitachi's image processing technologies in order to provide mainly CDMA
focused mobile handsets for KDDI Corporation and SoftBank Mobile Corp. in
Japan as well as Verizon Wireless in the USA and LG Telecom in the Republic
of Korea.

The new company will boast a competitive portfolio of products
that draws strength from the complete integration of business functions
between NEC's Mobile Terminal Operations Unit and CHMC, as well as merges the
advanced technologies and product development experience of each company.
Furthermore, NEC's IT/Network technology supported product development
capabilities linked to service business for enterprises and consumers,
combined with CHMC's consumer product technologies and planning strength, is
expected to result in the creation of innovative synergies and the
development of appealing new products, in addition to future growth that is
anticipated from a range of new areas.

NEC, Casio and Hitachi will integrate their mobile terminal
business in order to strengthen both domestic and international business
while increasing competitive strength and capitalizing on each company's
brand recognition through (1) achieving synergies in a variety of fields,
including sales expansion, procurement and customer service, and (2)
reinforcing product development by unifying technological assets, know-how
and resources.

2. About the New Joint Venture Company

Overview of the new joint venture company formed through the
integration of NEC's Mobile Terminal Operations Unit with CHMC

Company Name: NEC CASIO Mobile Communications, Ltd.

    Head Office: Kawasaki City, Kanagawa Prefecture, Japan (NEC
    Tamagawa plant)

    Capital: 1 billion JPY (at start of the joint venture)

    Share: NEC: 66%, Casio: 17.34%, Hitachi: 16.66%

    Capital increase planned to take place by the end of June 2010

    Capital after increase: 5 billion JPY

    Share after capital increase: NEC: 70.74%, Casio: 20%,
    Hitachi: 9.26%

    Number of Board Members: 8 (NEC: 6, Casio: 2, representative director
    selected by NEC)

    Consolidated Number of Employees:

    2,200 including NEC Saitama (non-consolidated: 1,300)

    Established: April 2010 (planned)

    Accounting Period: April to March

    Business Summary: Mobile terminal product planning,
    development, production, sales and maintenance



3. Business Integration Procedure

1) By the end of December 2009: NEC establishes a 100%
subsidiary company

2) April 2010: The newly established subsidiary takes over
NEC's mobile handset business through company split (*4)

3) Same day as (2): The newly established company merges with
CHMC (*5)

Other terms and conditions relating to the merger of the newly
established subsidiary with CHMC are currently under discussion. The details
will be announced upon their conclusion.

(*1) W-CDMA:

Wideband Code Division Multiple Access is a 3rd generation
(3G) mobile phone communications system.

(*2) LTE:

Long Term Evolution is a reference term for 3G and 3.9G
technologies. These are next generation mobile phone data communications
methods that further accelerate current HSDPA high speed communications
standards.

(*3) Linux:

Linux is a UNIX type free software operating system developed
by Linus Torvalds. Linux has been adopted by computers and a range of
technologies that include mobile phones.

(*4) The details of NEC's company split will be announced as
soon as they have been determined.

(*5) The effects that the merger will have on Casio's business
will be announced as soon as they have been determined.

* Product names, company names, etc. used herein are
trademarks or registered trademarks of their respective company.

Overview of CHMC (The to-be-transferred Casio subsidiary
company)

Company Name: Casio Hitachi Mobile Communications Co., Ltd.

    Established: April 1, 2004

    Business Summary: Cellular phone product development, design,
    production, procurement, quality control, sales and maintenance

    Head Office: Higashiyamato City, Tokyo, Japan

    CEO: Tateki Ohishi

    Capital: 3 billion JPY (share: Casio: 51%, Hitachi: 49%)

    Number of Employees: 506 (as of March 2009)

    Accounting Period: April to March

    Number of Shares Issued: 60,000

Three-Year Summary of Business Performance and Financial Condition:

                                                            (millions of yen)

    Fiscal Term                  March 2007   March 2008  March 2009
    Total assets                     65,791       62,761      61,063
    Net assets                       15,499       15,400       2,864
    Net assets per share (in yen)   258,323      256,662      47,733
    Net sales                       159,308      156,571     156,750
    Operating income                  5,184        1,068         959
    Ordinary income                   4,511        (366)          63
    Net income                        3,126        (100)    (12,536)
    Net income per share (in yen)    52,106      (1,661)   (208,929)
    Dividends per share (in yen)          -            -           -



CHMC, presently a consolidated subsidiary of Casio, will
become an equity-method affiliate with Casio holding a 20% stake in the new
joint venture company as a result of its merger with the newly established
NEC subsidiary and capital increase.

Cautionary Statement

This material contains forward-looking statements that
necessarily depend on currently available information and/or assumptions
based on the companies' judgments. A variety of factors could cause actual
results to differ materially from those in the forward-looking statements.

About NEC Corporation

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. NEC
delivers tailored solutions in the key fields of computer, networking and
electron devices, by integrating its technical strengths in IT and Networks,
and by providing advanced semiconductor solutions through NEC Electronics
Corporation. The NEC Group employs more than 140,000 people worldwide. For
additional information, please visit the NEC website at: http://www.nec.com.

About Casio Computer Co., Ltd.

Casio Computer Co., Ltd. is one of the world's leading
manufacturers of consumer electronics products and business equipment
solutions. Since its establishment in 1957, Casio has strived to realize its
corporate creed of "creativity and contribution" through the introduction of
innovative and imaginative products. Today, Casio's offerings include
timepieces, digital cameras, cellular phones, electronic dictionaries,
calculators, musical instruments, system equipment, and electronic components
such as LCDs. The Casio Group employs more than 12,000 people worldwide,
shipping over 100 million products per year, with net sales of 518 billion
yen (approx US$5,286 million) in the fiscal year ended March 2009. News and
product information from Casio is available at http://world.casio.com/

About Hitachi, Ltd.

Hitachi, Ltd., (NYSE: HIT / TSE: 6501), headquartered in
Tokyo, Japan, is a leading global electronics company with approximately
400,000 employees worldwide. Fiscal 2008 (ended March 31, 2009) consolidated
revenues totaled 10,000 billion yen ($102.0 billion). The company offers a
wide range of systems, products and services in market sectors including
information systems, electronic devices, power and industrial systems,
consumer products, materials, logistics and financial services. For more
information on Hitachi, please visit the company's website at
http://www.hitachi.com.

Casio Hitachi Mobile Communications Co., Ltd.

Casio Hitachi Mobile Communications Co., Ltd. was established
on April 1, 2004 in a joint venture between Casio Computer Co., Ltd., and
Hitachi, Ltd. The company brings together the many highly competitive
technological assets possessed by Casio and Hitachi to provide customers with
highly innovative and reliable mobile phone products packed with cutting-edge
technologies. Since the merger, the firm's operations have been streamlined
and integrated for maximum focus on its core competencies, faster and more
efficient development, and a robust production system. Today, Casio Hitachi
Mobile Communications provides innovative mobile devices for four major
wireless providers in Japan, South Korea and U.S.A. For more information, go
to http://ch-mobile.com/.

Press Contacts:
    
    NEC Corporation
    Kosuke Yamauchi
    k-yamauchi@ce.jp.nec.com
    +81-3-3798-6511

    Casio Computer Co., Ltd.
    Shinobu Kurahashi
    kurahashi@casio.co.jp
    +81-3-5334-4830

    Hitachi, Ltd.
    Masahiro Takahashi
    PR@hdq.hitachi.co.jp
    +81-3-5208-9324