Panasonic Corp (PCRFY.PK) Key Developments | Reuters.com
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Panasonic announces company split associated with integration of system LSI business with Fujitsu Ltd


Thursday, 31 Jul 2014 03:00am EDT 

Panasonic Corp:To transfer system LSI business and related assets to a new company to be established by Fujitsu Ltd by the end of September, in exchange for common shares in the new company.Fujitsu Semiconductor Limited, a wholly owned subsidiary in Fujitsu, will also transfer system LSI business and related assets to the new company, to receive common shares and class shares without voting rights of new company.Panasonic to invest 5 bln yen into new company to hold common shares and class shares without voting rights of new company.Development Bank of Japan Inc. to invest 20 bln yen into new company.Company split effective during Q4 of fiscal year 2014.