Development Bank of Japan to invest in joint venture between Fujitsu and Panasonic

Wednesday, 23 Apr 2014 02:00am EDT 

Fujitsu Ltd and Panasonic Corp:Say Development Bank of Japan, Inc. (DBJ) will make an investment and provide a line of credit for a new fabless company specializing in system LSI (large-scale integration) design and development which Fujitsu and Panasonic will jointly establish.Fujitsu and Panasonic have been considering integration of the system LSI business and associated intellectual property of Fujitsu's wholly owned subsidiary, Fujitsu Semiconductor Limited, together with Panasonic's system LSI business and related intellectual property.DBJ will make a maximum investment of 20.0 billion yen in equity capital in the new company and will provide a maximum credit line of 10.0 billion yen to the new company.Ratio of voting rights held in the new company by Fujitsu, Panasonic and DBJ will be 40 pct, 20 pct, and 40 pct respectively, with operation scheduled to start in the third quarter of fiscal year ending March 31, 2015. 

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