Fujitsu Ld Regarding System LSI Businesses (3659X)
February 07 2013 - 3:51AM
UK Regulatory
TIDMFUJ
RNS Number : 3659X
Fujitsu Ld
07 February 2013
Fujitsu and Panasonic to Consolidate System LSI Businesses in
New Company
Tokyo and Osaka, Japan, February 7, 2013 - Fujitsu Limited and
Panasonic Corporation ([NYSE:PC/TSE:6752]) today announced that the
two companies have signed a memorandum of understanding (MOU) to
consolidate the design and development functions of the system LSI
businesses of Panasonic and Fujitsu Semiconductor Limited, a wholly
owned subsidiary of Fujitsu. With the backing of capital
contributions from third-party investors, Fujitsu and Panasonic
will establish a new company under a fabless business model,
enabling LSI design and development functions. At the same time,
the two companies have agreed to discuss the transfer of business
to the new company. In establishing the new integrated company,
Development Bank of Japan Inc. (DBJ) has been asked to assist with
investment and financing. Fujitsu and Panasonic are currently
engaged in detailed discussions with the goal of promptly
finalizing a contract.
1. Background and Objectives of the New Company
Fujitsu Semiconductor and Panasonic each possess advanced
technologies and significant intellectual property in the field of
system LSI devices, and have been supporting the products of
customers both inside and outside Japan through the provision of
advanced system LSI devices.
In recent years, however, as market conditions have rapidly
deteriorated and overseas semiconductor manufacturers have risen in
prominence, the system LSI businesses of Fujitsu Semiconductor and
Panasonic have been facing a severe business environment.
In light of this situation, Fujitsu and Panasonic have both come
to acknowledge that bringing together their respective advanced
technologies and customer base is vital to build a competitive
business globally. Focusing on system LSI marketing, design and
development under a fabless model, Fujitsu and Panasonic aim to
achieve future growth in system LSI businesses. For these reasons,
the two companies have agreed to discuss the establishment of a new
company.
With the new integrated company, Fujitsu and Panasonic plan to
combine the technological prowess that they have long accumulated,
while concentrating new investments on key fields to be a global
top-level LSI company. Areas of focus include 1) High-performance
solutions (high-performance servers and core technologies that
support cloud infrastructure such as ultra-high-speed networks), 2)
Visual and imaging solutions (next-generation DTV, applications for
image recognition, etc.), and 3) Wireless solutions (mobile and
extremely low-power wireless connectivity solutions that support
ubiquitous networks). Deliberations are underway with DBJ regarding
the procurement of investment funding for increasing global
competitiveness in key fields.
2. Outline of the Memorandum of Understanding (MOU)
The outline of the MOU signed by Fujitsu and Panasonic is
described below. Details regarding the new company have not been
decided at the present time.
(1) Fujitsu and Panasonic will consolidate the design and
development functions of the system LSI businesses of Panasonic and
Fujitsu Semiconductor and, with the backing of capital
contributions from third-party investors, will establish a new
company under a fabless business model, enabling LSI design and
development functions. At the same time, the two companies have
agreed to discuss the transfer of business to the new company.
(2) Based on the technologies, know-how, and customer bases of
Fujitsu Semiconductor and Panasonic, the new company will act as an
independent entity and focus its management resources on product
areas that are the forte of Fujitsu and Panasonic as it seeks to
become a global leader.
3. Future Schedule
Fujitsu and Panasonic are currently engaged in detailed
discussions with the goal of promptly finalizing a contract.
Press Contacts
Fujitsu Limited
Public and Investor Relations Division
Inquiries:
https://www-s.fujitsu.com/global/news/contacts/inquiries/index.html
Panasonic Corporation
Corporate Finance & IR Group
(Tel: +81-6-6908-1121)
About Fujitsu
Fujitsu is the leading Japanese information and communication
technology (ICT) company offering a full range of technology
products, solutions and services. Over 170,000 Fujitsu people
support customers in more than 100 countries. We use our experience
and the power of ICT to shape the future of society with our
customers. Fujitsu Limited (TSE:6702) reported consolidated
revenues of 4.5 trillion yen (US$54 billion) for the fiscal year
ended March 31, 2012. For more information, please see
http://www.fujitsu.com.
About Panasonic
Panasonic Corporation is a worldwide leader in the development
and manufacture of electronic products in three business fields,
consumer, components & devices, and solutions. Based in Osaka,
Japan, the company recorded consolidated net sales of 7.85 trillion
yen for the year ended March 31, 2012. Panasonic's stock is listed
on the Tokyo, Osaka, Nagoya and New York (NYSE:PC) Stock Exchanges.
The company has the vision of becoming the No. 1 Green Innovation
Company in the Electronics Industry by the 100th year of its
founding in 2018. For more information on Panasonic, its brand and
commitment to sustainability, visit the company's website at
http://panasonic.net/.
All company or product names mentioned herein are trademarks or
registered trademarks of their respective owners. Information
provided in this press release is accurate at time of publication
and is subject to change without advance notice.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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