Ailing electronics giant NEC Corp. said Friday its group net loss for the fiscal first-half was 2.5 billion yen more than it reported a month ago.
NEC restated its group net loss at 9.93 billion yen for the six-month period that ended Sept. 30, not 7.43 billion yen as reported Nov. 21.
The Tokyo-based company said accounting errors related to its switch from U.S. to Japanese accounting standards were responsible for the mistake. In October, NEC abandoned U.S. accounting standards after problems with its auditor, Ernst & Young, over how to account for revenue on bundled software and hardware contracts.
The company, whose main businesses include manufacturing of networking and computer products, also said a correction related to its booking of sales also contributed to the restated results.
NEC said in November its losses had surged in the fiscal first half compared with the previous year, as sales of mobile phones and personal computers slumped and it paid to restructure its chip operations.
The correction did not affect the manufacturer's forecast for the fiscal year through March. NEC said it still expects a group net profit of 18 billion yen on 4.7 trillion yen in sales.
NEC announced the revision after the close of Friday trade on the Tokyo Stock Exchange, where its share price fell 0.35 percent to 567 yen.