Key Developments: Fujitsu Ltd (6702.T)
463JPY
24 May 2013
¥13 (+2.89%)
¥443
¥465
¥480
¥445
24,235,000
15,125,246
¥496
¥269
Latest Key Developments (Source: Significant Developments)
Fujitsu Ltd And Panasonic Corp To Merge Chip Business In Fiscal 2013-Reuters
Reuters reported that Fujitsu Ltd and Panasonic Corp will merge their chip units in the next fiscal year. The two companies will announce on February 7, 2013 after a meeting of Fujitsu's board of directors that they will begin discussions on forming a joint venture. Fujitsu is likely to negotiate to take a majority stake in the venture, which will be a design and development-only firm. According to a source the two are in talks with Development Bank of Japan over funding for the venture. Full Article
R&I Affirms Rating on Fujitsu Ltd at "A+"; Rating Outlook Negative
Rating and Investment Information, Inc. (R&I) announced that it has affirmed the rating of Fujitsu Ltd at "A+", but has amended the rating outlook from stable to negative. Full Article
Fujitsu Ltd to Issue Unsecured Corporate Bonds
Fujitsu Ltd announced that it will issue a JPY 40 billion 30th series unsecured corporate bonds with interest rate 0.331% and maturity on October 16, 2015, as well as a JPY 20 billion 31st series unsecured corporate bonds with interest rate 0.476% and maturity on October 16, 2017, both with a face value of JPY 100 million and issue price at JPY 100 per face value of JPY 100, on October 16, 2012. Mizuho Securities Co., Ltd. and five other companies will act as underwriters in the offering. Full Article
TOKAI Communications Corporation to Take Over ISP Business from Fujitsu Ltd's Subsidiary
Tokai Holdings Corp announced that its wholly owned subsidiary, TOKAI Communications Corporation, will take over Internet service provider business from FUJITSU SOFTWARE TECHNOLOGIES LIMITED, which is a wholly owned subsidiary of Fujitsu Ltd, effective October 1, 2012. Full Article
Fujitsu Ltd In Talks With Taiwan Semiconductor Manufacturing Co To Sell Chip Plant- Reuters
Reuters reported that Fujitsu Ltd has held talks to sell its main semiconductor plant in western Japan to Taiwan Semiconductor Manufacturing Co. The plant, in Mie Prefecture, makes image-processing chips for cameras and number-crunching chips for supercomputers. Full Article
Fujitsu Ltd Announces Business Integration
Fujitsu Ltd announced that it has decided to transfer its access network development business focusing on mobile phone modem, to a new subsidiary, effective August 1, 2012. Full Article
R&I Affirms Rating on Fujitsu Ltd at "A+"; Rating Outlook Stable
Rating and Investment Information, Inc. (R&I) announced that it has affirmed the rating on FUJITSU LIMITED at "A+". The rating outlook is stable. Full Article
Renesas Electronics Corp, FUJITSU LIMITED, Panasonic Corporation Looking To Merge System Chip Operations; JV Company To Buy Plant From Elpida Memory, Inc.-DJ
Dow Jones reported that Renesas Electronics Corp, FUJITSU LIMITED and Panasonic Corporation have begun discussions toward integrating their system chip operations, The Nikkei reported. As a first step, the three will spin off their system chip design and development divisions to create a new company. By combining the trio's expertise in image processing, telecommunications and other technologies, the new firm will develop system chips for smartphones, automobiles and other products. It will receive several dozen billion yen from government-backed investment fund Innovation Network Corp. of Japan, (INC). The three companies' system chip manufacturing divisions, which require huge capital investments, will be separated from their design divisions and integrated at a Japanese joint venture (INC) is working to establish with Global Foundries Inc. This new joint venture will likely purchase a plant in Tsuruoka, Yamagata Prefecture, from Renesas and a factory in Kuwana, Mie Prefecture, from Fujitsu. It is in final negotiations with Elpida Memory, Inc. to purchase the struggling DRAM maker's Hiroshima plant, its only manufacturing base in Japan. Renesas, Fujitsu, Panasonic and INCJ aim to reach a basic agreement by the end of March, with the goal of integrating operations by the end of fiscal 2012. Full Article
Fujitsu Ltd's Fujitsu Canada Acquires TMC
Fujitsu Ltd's Fujitsu Canada announced the acquisition of TMC, a business and information technology (IT) consulting solution and service provider. The details of the transaction have not been disclosed. Full Article
FUJITSU LIMITED Lowers FY 2012 Outlook
FUJITSU LIMITED announced that it has lowered its consolidated full-year outlook for revenue from JPY 4,540 billion to JPY 4,490 billion, operating profit from JPY 135 billion to JPY 100 billion, ordinary profit from JPY 120 billion to JPY 85 billion, net profit from JPY 60 billion to JPY 35 billion and earning per share from JPY 28.99 to JPY 16.91 for the fiscal year ending March 31, 2012. This is due to the decreased sale of personal computer, audio, navigation machinery and other electronic part businesses. According to I/B/E/S Estimates, analysts on average are expecting the Company to report full-year revenue of JPY 4,488.88 billion and net profit of JPY 52.39 billion. Full Article
CORRECTED-Fujitsu in talks to sell car chip business to Spansion -sources
(Corrects paragraph 2 to show that Spansion will be using a Fujitsu plant, not buying it)
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