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  7. Regarding the Launch of Socionext, a New Company that Consolidates Fujitsu and Panasonic System LSI Businesses

Regarding the Launch of Socionext, a New Company that Consolidates Fujitsu and Panasonic System LSI Businesses

Fujitsu Limited,Panasonic Corporation,Development Bank of Japan Inc.

Tokyo, Yokohama, and Osaka, March 02, 2015

Fujitsu Limited, Panasonic Corporation, and the Development Bank of Japan Inc. (DBJ) today announced that consolidation of the system LSI businesses of Fujitsu Semiconductor Limited and Panasonic has been completed, and with a capital contribution by DBJ, Socionext Inc., a newly established system LSI business, will commence operations. This is based on the July 31, 2014 agreement made by Fujitsu, Panasonic, and DBJ, together with Fujitsu Semiconductor, to establish a new fabless-type company for the design and development of system LSI devices.

With a management team led by CEO Yasuo Nishiguchi and COO Amane Inoue, Fujitsu and Panasonic look forward to Socionext's growth as a globally competitive company. Socionext brings together management resources that include technological capabilities, intellectual property, and customer bases that have been cultivated by the Fujitsu Group and Panasonic Group in the field of video and imaging as well as optical networking technologies. In addition, while Socionext will operate independently from the two groups, both groups will continue to act as partners to Socionext, and look forward to achieving mutual growth.

DBJ will use the "Fund for Japanese Industrial Competitiveness" in support of Socionext's efforts to create new value in the field of system LSI devices, and will continue to bolster Socionext's competitiveness in this field.

Overview of Socionext

Company name : Socionext Inc.
Headquarters : 2-10-23 Shin-Yokohama, Kohoku-ku, Yokohama, Kanagawa, Japan
Representatives : CEO Yasuo Nishiguchi, COO Amane Inoue
Capital : JPY 30.2 billion
Ratio of voting rights : Fujitsu 40%, Panasonic 20%, DBJ 40%
Business commencement : March 2, 2015
Business description : Design, development and sales of system LSI devices and directly related products and services

For More Information

About Fujitsu

Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 162,000 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 4.8 trillion yen (US$46 billion) for the fiscal year ended March 31, 2014. For more information, please see http://www.fujitsu.com.

About Panasonic

Panasonic Corporation is a worldwide leader in the development and engineering of electronic technologies and solutions for customers in residential, non-residential, mobility and personal applications. Since its founding in 1918, the company has expanded globally and now operates around 500 consolidated companies worldwide, recording consolidated net sales of 7.74 trillion yen for the year ended March 31, 2014. Committed to pursuing new value through innovation across divisional lines, the company strives to create a better life and a better world for its customers. For more information about Panasonic, please visit the company's website at http://panasonic.net/.

About DBJ

DBJ, is 100% owned by the Japanese government, provides seamlessly integrated investment and loan services. DBJ’s corporate philosophy is “Applying financial expertise to design the future”. Using creative financing techniques, DBJ is committed to working with customers to resolve their problems, earn their trust and build a prosperous future.
For more information about DBJ, please visit our website at http://www.dbj.jp/en/

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Company:Fujitsu Limited

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Phone: Phone: +81-3-3574-5664
Company:Panasonic Corporation

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Phone: Phone: +81-3-3244-1180
Company:Development Bank of Japan Inc.


All 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 March, 2015
City: Tokyo, Yokohama, and Osaka
Company: Fujitsu Limited / Panasonic Corporation / Development Bank of Japan Inc.