IN BRIEF (Page 16)

Former NEC chief dies

Former NEC Corp head Tadahiro Sekimoto (above), who oversaw the Japanese company's transformation into one of the world's top computer makers during his long tenure, has died, the company said Monday. He was 80.

Sekimoto, who is also remembered as an engineer who contributed to the development of advanced technology communication systems, died of a stroke on Sunday at a Tokyo hospital. He headed the company as chairman and president between 1980 and 1998

Phone firm's boost

Telefonica SA, Europe's second-largest telephone company, said third-quarter profit rose 39 percent, fueled by growth in Latin America and lower taxes.

Net income rose to 4.02 billion euros, or 84.9 cents a share, from 2.9 billion euros, or 60 cents a share, a year earlier, the Madrid-based company said yesterday in a regulatory filing. That beat the 3 billion-euro median estimate of 10 analysts in a Bloomberg News survey. Sales advanced 4.8 percent to 14.19 billion euros.

Output forecast

StatoilHydro ASA, Norway's largest oil company, expects production of oil and natural gas this year to average 1.74 million barrels a day.

The forecast is based on an oil price of $60 a barrel, the Stavanger-based company said in a statement to the Oslo exchange yesterday. StatoilHydro also said exploration spending will reach between 15 billion and 16 billion kroner ($2.81 billion and $3 billion) this year as the company drills as many as 70 wells.

Aveva advances

Aveva Group Plc, the UK maker of software for shipbuilders and energy companies, said first-half profit rose 32 percent after contract wins in Asia.

Net income for the six months ended September 30 rose to 11.8 million pounds, or 17.43 pence per share, from 8.9 million pounds, or 13.25 pence, a year earlier, Cambridge, England-based Aveva said yesterday in a statement distributed by the Regulatory News Service. Sales rose 24 percent to 56.8 million pounds.

Falling short

Isuzu Motors Ltd, Japan's biggest maker of light trucks, said first-half profit fell 33 percent as it didn't repeat a one-time gain a year earlier and domestic demand slumped.

Net income dropped to 37 billion yen ($335 million), or 21.60 yen a share, in the six months ended September from 55.4 billion yen, or 46.61 yen, a year earlier, the company said in a Tokyo Stock Exchange statement yesterday.

G4S gains

G4S Plc, the world's second-largest security company, said nine-month sales excluding acquisitions increased 7.9 percent, buoyed by Europe, North America and emerging markets.

Revenue through September rose 6.3 percent in mature markets and 15.8 percent in developing regions, the Gatwick, southern England-based company said in an e-mailed statement.

Ready to renew

Electricite de France SA is ready to renew its shareholder agreement in Edison SpA with Milan utility Aem SpA, Il Giornale newspaper said, citing Pierre Gadonneix, chief executive officer of the French company.

"Relations between Edison shareholders are very good," Gadonneix said, according to the Italian newspaper. The partners jointly manage Edison under an agreement that expires next year.

Agencies-Bloomberg News

(China Daily 11/13/2007 page16)