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  7. Fujitsu and Furukawa Electric Agree to Information Systems Partnership

Fujitsu and Furukawa Electric Agree to Information Systems Partnership

Furukawa Electric Co., Ltd.,Fujitsu Limited

Tokyo, May 09, 2017

Fujitsu Limited and Furukawa Electric Co., Ltd. today announced that Fujitsu has agreed to acquire 51% of the outstanding shares of FITEC Corporation, the Furukawa Electric Group company, in an information systems partnership. Furukawa Electric and Fujitsu plan to begin joint operation of FITEC in October of this year.

Through this partnership, Furukawa Electric aims to achieve competitive manufacturing using the latest information technologies, such as IoT and AI, while strengthening the development of IT personnel at FITEC, which is responsible for the Furukawa Electric Group's information systems. In addition, it will accelerate IT governance initiatives, such as information security countermeasures and greater efficiencies in mission-critical tasks, to strengthen Group management.

Fujitsu aims to strengthen its relationship with Furukawa Electric through joint operation of FITEC, and together with providing comprehensive support for Furukawa Electric's IT systems, will also acquire knowledge with regard to Furukawa Electric's IT skills and operational experience in the manufacturing field. In this way, Fujitsu aims to strengthen its own manufacturing solutions, and co-create innovation with Furukawa Electric using cutting-edge digital technologies, such as IoT and AI.

Through this partnership, FITEC aims to expand its business contributions and improve the quality of its information systems services for the Furukawa Electric Group and its many customers. To achieve this, FITEC will learn from and incorporate the advanced technologies and solutions capabilities from Fujitsu, in addition to the experience it has built up in operations for the Furukawa Electric Group.

Summary of FITEC

1. Name : FITEC Corporation
2. President and Representative Director : Satoshi Tanaka
3. Headquarters : Higashiyama Building, 1-2 Higashiyama 1-chome, Meguro-ku, Tokyo
4. Capitalization : 70 million yen
5. Shareholder composition : 100% Furukawa Electric Co., Ltd.
6. Number of employees : 265 (as of March 31, 2017)
7. Business composition : Solutions business, services business, system products business

About Furukawa Electric Group

Furukawa Electric (TSE; 5801, ISIN; JP3827200001) Group started business in 1884, when its copper-smelting facility and wire manufacturing factory was established. Since then Furukawa Electric has become pioneers in the latest technologies by addressing diverse technological issues. Furukawa Electric has released products in a number of areas, including telecommunications, electronics, automobiles, and construction, with the three types of materials it works with at their core, namely, optics, plastics, and metals. Many of these products have attained the top global market share, and all of its products have contributed to society in numerous business areas. Furukawa Electric reported consolidated revenues of JPY 874.9 billion (approximately USD 8.0B) for the fiscal year ended March 31, 2016.

About Fujitsu

Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 155,000 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$40 billion) for the fiscal year ended March 31, 2017. For more information, please see http://www.fujitsu.com.

Press Contacts

Investor & Public Relations Department
Inquiries

E-mail: E-mail: fec.pub@furukawaelectric.com
Company:Furukawa Electric

Press Contacts

Public and Investor Relations Division
Inquiries

Company:Fujitsu Limited


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: 09 May, 2017
City: Tokyo
Company: Furukawa Electric Co., Ltd. ,Fujitsu Limited