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Losses at Japanese electronics maker NEC Corp. widened last quarter as companies held back from investing in information technology.

The company Thursday reported a loss of 26.5 billion yen ($323 million) for the October-December quarter from a 9.6 billion yen loss a year earlier.

For the fiscal year through March, NEC projects it will be in the black, earning a net profit of 15 billion yen.

NEC's group sales fell 12.7 percent to 720.7 billion yen last quarter.

For the first nine months of the year, NEC said it had a net loss of 53.6 billion yen.

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