FOR IMMEDIATE RELEASE
Densei-Lambda Transfers Equity in Subsidiary
TOKYO, December 26, 2001 - Densei-Lambda K. K. (TSE: 6917), a leading manufacturer
of power systems, today announced that pursuant to a share transfer agreement signed
between NEC Fielding Ltd. (FILDG) and the Company, the Company will transfer all shares
held in NDEC Co., Ltd. (NDEC) to FILDG.
1. Reasons for equity transfer
NDEC has historically provided maintenance service for Densei-Lambda's
uninterruptible power supply systems (UPS), and has also on a contract basis, performed
work on LAN systems operated by FILDG. From the beginning of 2001, however,
Densei-Lambda decided to directly service its own UPS to further improve its overall
quality of maintenance work and customer service.
Due to these changes, NDEC's business has increasingly centered on data
communications services for FILDG. The three companies involved thus resolved that
the greatest synergies could be achieved if NDEC and FILDG unified. Densei-Lambda
has thus resolved to transfer all shares held in NDEC to FILDG thereby enabling better
concentration of resources on power systems businesses. This realignment of priorities is
consistent with Densei-Lambda's strategy of focusing on its core power systems
competencies, as pursued since the merger of Nemic Lambda and Nippon Electric
Industry (Densei) in October 1999.
2. NDEC Corporate Information

Name

 NDEC Co., Ltd.
Representative Genichi Abe, Representative Director, President
Head office 5-47-7, Higashi Nippori, Arakawa-ku, Tokyo
Established October 1, 1960
Primary operations Maintenance services for electrical, electronic, communications
and air-conditioning equipment.
Fiscal year End March
Number of employees 159 (as of November 30,2001)
Main offices Tokyo, Osaka and Nagoya
Capital ¥36,000,000 (ias of November 30, 2001)
Outstanding shares 72,000
Major shareholders
Name
Address
Shares
held
Percentage of
outstanding
Densei-
Lambda K.K.
1-11-15, Higashi
Gotanda,
Shinagawa-ku,
Tokyo
72,000
shares
100%

 
(2) Operating results ( ¥ millions)
March 31,2000
March 31,2001
Sales
10,138
10,614
Gross profit
949
1,087
Operating income
113
273
Ordinary profit
94
267
Net income(loss)
(60)
140
Total asets
5,273
5,596
Shareholder's Equity
152
295
dividend per share
0
0
3. Outline of the equity transferee
 
Name NEC Fielding Ltd.
Representative Takashi Torii, Representative Director,
President
Address 1-4-28, Mita, Minato-ku, Tokyo
Main operations Support services for computer network
systems
Corporate relationship None
Established March 30, 1957
Capital ¥1,100,000,000
Employees 6,985 (as of September 30,2001)
4. Number of shares to be transferred, transfer price, and number of shares held by Densei-
Lambda before and after the transfer
 
   
(1) Number of shares held by the Company before transfer: 72,000 (100 %)
(2) Number of shares to be transferred: 72,000 (itransfer price:¥264 million)
3) Number of shares held by the Company after transfer: 0 shares (0%)
5. Timetable
   
Signing of the share transfer agreement: December 26, 2001
Date of transfer: January 8, 2002
6. Future outlook
The impact of this sale on forecasts will be announced in due course.
For further inquiries, please contact:
Masami Kobashi, Managing Director, Densei-Lambda
Tel: 3447-4411
Notes to Editors
Headquartered in Tokyo, Densei-Lambda is the Asian hub of operations for Invensys Power Systems.
It is a research and development center of excellence for DC-DC converters, switching power supply
product development, manufacturing and purchasing. Invensys Power Systems is an American-based
world leader of secure power, energy storage, power conversion and telecom energy systems with
18,000 employees and $2.5 billion in sales.
Invensys plc is one of the global leaders in automation and controls. Headquartered in London,
England, Invensys operates in all regions of the world through four divisions ? Software Systems,
Automation Systems, Control Systems and Power Systems. With over 75,000 employees, the Group
supplies products and services ranging from advanced control systems, remote diagnostics and energy
management for process plants, factories and commercial environments to electronic devices and
networks for residential buildings, as well as complete power systems for the industrial,
telecommunications and information technology sectors.
-ends-