Fujitsu Limited and Toshiba Corporation today announced that, as of April 1, 2012, Fujitsu has acquired Toshiba's ownership stake in Fujitsu Toshiba Mobile Communications Limited, which develops and sells mobile phones for KDDI and other carriers. As a result, Fujitsu Toshiba Mobile Communications has been converted into a wholly owned subsidiary of Fujitsu.
With respect to the merger of the mobile phone businesses of Fujitsu and Toshiba, in October 2010 Fujitsu received an ownership stake of 80.1% in Fujitsu Toshiba Mobile Communications, making the company a consolidated subsidiary of the Fujitsu Group.
Fujitsu has now received Toshiba's 19.9% ownership stake, establishing Fujitsu Toshiba Mobile Communications as a wholly owned subsidiary of Fujitsu.
Due to the conversion of Fujitsu Toshiba Mobile Communications into a wholly owned subsidiary of Fujitsu, as of April 1, 2012, the company's name has been changed to Fujitsu Mobile Communications Limited.
|Company Name||Fujitsu Mobile Communications Limited|
|Capital||450 million yen|
|Holding Ratio||100% Fujitsu Limited|
|Representative||Nobuo Otani, Corporate Senior Vice President, Fujitsu Limited|
|Head Office||4-1-1 Kamikodanaka, Nakahara-ku, Kawasaki-shi, Kanagawa-ken, Japan|
|No. of Employees||Approximately 300 (As of March 31, 2012)|
|Business Description||Design, development, and sales of mobile phones|
Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Over 170,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE:6702) reported consolidated revenues of 4.5 trillion yen (US$55 billion) for the fiscal year ended March 31, 2011. For more information, please see http://www.fujitsu.com
Toshiba is a world leader and innovator in pioneering high technology, a diversified manufacturer and marketer of advanced electronic and electrical products spanning digital consumer products; electronic devices and components; power systems, including nuclear energy; industrial and social infrastructure systems; and home appliances.
Toshiba was founded in 1875, and today operates a global network of more than 490 companies, with 203,000 employees worldwide and annual sales surpassing 6.3 trillion yen (US$77 billion). Visit Toshiba's web site at www.toshiba.co.jp/index.htm.
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All other company or product names mentioned herein are trademarks or registered trademarks of their respective owners. Information provided in this press release is accurate at time of publication and is subject to change without advance notice.
Date: 02 April, 2012
Company: Fujitsu Limited
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