Fujitsu hits 10-month high after announcing chip unit restructure
TOKYO Feb 8 (Reuters) - Shares of Fujitsu Ltd hit a 10-month high on Friday after the company said it would reorganise its microchip business, jumping as much as 8 percent to 446 yen.
Fujitsu and Panasonic Corp said on Thursday they were combining their struggling LSI chip units, which produce highly customised chips used in a range of consumer electronics.
As part of the reorganisation, Fujitsu plans to cut around 5,000 positions and transfer 4,500 staff into the new chip venture.
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