NEC pres says has secured adequate cash on hand

Newswire

TOKYO, Oct 29 (Reuters) - NEC Corp , Japan's biggest PC maker, said on Thursday that it had adequate funds on hand, precluding a need to tap equity markets for capital. "We have secured adequate funds of 500 billion yen ($5.5 billion) worth of cash and cash equivalents on hand, including the commitment line (from creditors)," NEC President Kaoru Yano said at a news conference, in response to a question on the need to shore up the firm's capital. (Reporting by Mayumi Negishi)

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