Fujitsu to form JV with Taiwan's UMC to own, run Mie chip plant: sources
TOKYO (Reuters) - Fujitsu Ltd plans to form a joint venture with Taiwan's United Microelectronics Corp to own and operate Fujitsu's main Mie semiconductor plant in central Japan, sources familiar with the matter said on Friday.
Fujitsu is initially expected to hold 70 percent of the venture with UMC holding 30 percent, although Fujitsu will steadily reduce its stake thereafter, the sources said.
Several Japanese electronics companies have been hiving off semiconductor plants as they shed unprofitable operations and focus on core businesses with better prospects for growth and profits.
Fujitsu had been in negotiations with Taiwan Semiconductor Manufacturing Co Ltd on a possible deal for the Mie plant, although its CEO said last year that Fujitsu had also opened discussions with a number of other companies.
(Reporting by Reiji Murai; Writing by Edmund Klamann; Editing by Chang-Ran Kim)