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Fujitsu to Sell Shares in Kanda Tsushin Kogyo Co., Ltd.

Fujitsu Limited

Tokyo, May 02, 2003

Fujitsu Limited today announced that it has reached basic agreement with Privee Zurich Turnaround Co., Ltd. regarding the planned sale of all of Fujitsu's 8,017,000 shares in Kanda Tsushin Kogyo Co., Ltd. (31.7% of Kanda's outstanding shares) to Privee Zurich Turnaround.

Scheduled to be completed on May 29, 2003, the share transfer is intended to support the wide-ranging business collaboration between Kanda Tsushin Kogyo and Privee Zurich Turnaround. The new arrangement is expected to leverage synergies between Kanda Tsushin Kogyo, which has been enhancing software and solutions activities focusing on the IP networks, wireless and medical fields, and Privee Zurich Group Inc. to diversify the scope of their business activities and develop new areas of collaboration going forward.

The companies expect that the new collaborative relationship will help Kanda Tsushin Kogyo to open up new markets, enabling the expansion of its business, strengthening of its technological capabilities and enhancing its ability to deliver strong proposals to customers. Fujitsu has therefore decided to support that effort by agreeing to the transfer of shares

About Fujitsu

Fujitsu is a leading provider of customer-focused IT and communications solutions for the global marketplace. Pace-setting technologies, high-reliability/performance computing and telecommunications platforms, and a worldwide corps of systems and services experts make Fujitsu uniquely positioned to unleash the infinite possibilities of the broadband Internet to help its customers succeed. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 5 trillion yen (about US$38 billion) for the fiscal year ended March 31, 2002.
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Date: 02 May, 2003
City: Tokyo
Company: Fujitsu Limited, , , , ,

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