UPDATE 1-Fujitsu to use own cash to retire debt - Nikkei

May 29 (Reuters) - Japan's Fujitsu Ltd (6702.T) will use cash on hand to retire 300 billion yen ($3.11 billion) in bonds this fiscal year, a move that will help lower its debt-equity ratio to below 1, the Nikkei business daily reported without citing sources.

On Wednesday, the electronics maker retired 250 billion yen in equity warrants and in June 50 billion yen in bonds will mature.

Instead of rolling over the bonds, Fujitsu plans to pay them off and cut interest-bearing debt, which totaled 883.4 billion yen on March 31, the paper said. ($1=96.58 YEN) (Reporting by Sweta Singh in Bangalore; Editing by Vinu Pilakkott)