GTM-MQNC2Z4
Skip to main content
  1. Home >
  2. About Fujitsu >
  3. Resource Center >
  4. News >
  5. Press releases >
  6. 2009 >
  7. Notice Regarding Policy to Support Fujitsu Component Through Subscription to Preferred Shares

Notice Regarding Policy to Support Fujitsu Component Through Subscription to Preferred Shares

Fujitsu Limited

Tokyo, March 27, 2009

Fujitsu Limited ("Fujitsu") today announced that it has decided on a policy to financially support its consolidated subsidiary Fujitsu Component Limited (Securities Code: 6719, "Fujitsu Component") by subscribing to a 2.0-billion-yen offering of new preferred shares to be issued by Fujitsu Component.

The date of issue, terms and conditions, and other details of the preferred shares will be decided through consultations between the two companies.

1. Purpose of the Capital Support

The sharp deterioration in worldwide economic conditions from the second half of fiscal 2008 has had a severe impact on the business of Fujitsu Component.

It is expected that severe conditions in Fujitsu Component's markets, which include the onboard equipment, industrial equipment, and data communications markets, will continue for some time. As a result of the deterioration in the company's operating results, the planned recognition of one-time losses due to business reforms and other factors, it is projected that Fujitsu Component's liabilities will exceed its assets in the first half of its 2009 fiscal year.

From the standpoint of maintaining corporate value, Fujitsu believes that it is necessary to eliminate the risk that a capital deficiency at Fujitsu Component might have a material adverse effect on the business of Fujitsu Component. Fujitsu therefore has decided on a policy to subscribe to the issue of 2.0 billion yen of preferred shares by Fujitsu Component.

2. Overview of Fujitsu Component

(1) Corporate name: Fujitsu Component Limited
(2) Representative: Nobutake Matsumura
(3) Registered address: Gotanda-Chuo Bldg., 3-5, Higashi-Gotanda 2-chome, Shinagawa-ku, Tokyo 141-0022
(4) Date of establishment: September 2001
(5) Business description: Manufacturing and sales of relays for telecom equipment and general consumer use, connectors, keyboards and other input/output equipment, other electrical components and equipment
(6) Fiscal year: April 1 to March 31
(7) No. of employees: 3,779 (consolidated, as of December 31, 2008)
(8) Net assets: 4,182 million yen (as of December 31, 2008)
(9) Total assets: 29,005 million yen (as of December 31, 2008)
(10) Capital: 5,764 million yen (as of December 31, 2008)
(11) Total outstanding shares: common stock 69,269 shares (as of September 30, 2008)
preferred stock 1,000 shares (as of September 30, 2008)

3. Impact on Financial Results of Fujitsu

The subscription of preferred shares will have no impact on the financial results for the fiscal year ending March 31, 2009.

About Fujitsu

Fujitsu is a leading provider of IT-based business solutions for the global marketplace. With approximately 160,000 employees supporting customers in 70 countries, Fujitsu combines a worldwide corps of systems and services experts with highly reliable computing and communications products and advanced microelectronics to deliver added value to customers. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 5.3 trillion yen (US$53 billion) for the fiscal year ended March 31, 2008. For more information, please see: www.fujitsu.com.

Press Contacts

Public and Investor Relations Division
Inquiries

Company:Fujitsu Limited


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: 27 March, 2009
City: Tokyo
Company: Fujitsu Limited, , , , ,

Services & Products

Country Selector

Global

Change

World Map