NEC could spend up to $4.4 billion on acquisitions by 2025, says CEO

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FILE PHOTO: Logos of NEC Corp are pictured at CEATEC (Combined Exhibition of Advanced Technologies) JAPAN 2016 at the Makuhari Messe in Chiba, Japan, October 3, 2016. REUTERS/Toru Hanai
FILE PHOTO: Logos of NEC Corp are pictured at CEATEC (Combined Exhibition of Advanced Technologies) JAPAN 2016 at the Makuhari Messe in Chiba, Japan, October 3, 2016. REUTERS/Toru Hanai

TOKYO (Reuters) - Japan's NEC Corp could spend up to 500 billion yen ($4.4 billion) over the next five years on acquisitions in order to bolster its technology offerings, including 5G mobile broadband, the company's CEO said.

"It's natural that we would have 500 billion yen in investment capacity," Takayuki Morita said at a press roundtable on Monday.

China has been leading the global rollout of 5G technology, but tensions with the United States, which is concerned about Beijing's dominance in the key technology, may provide an opening for companies elsewhere to supply 5G technology.

($1 = 113.5600 yen)

(Reporting by Shinji Kitamura; writing by Tim Kelly; editing by Richard Pullin)

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