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Fujitsu and Toshiba Complete Merger of Mobile Phone Businesses

1 Oct, 2010

Fujitsu Limited
Toshiba Corporation

 

Tokyo, October 1, 2010 — Fujitsu Limited and Toshiba Corporation today announced that they have completed the merger of their mobile phone businesses.

On June 17, 2010, Fujitsu and Toshiba signed a Memorandum of Understanding (MOU) to merge their mobile phone businesses, followed by a definitive contract on July 29, 2010. Today, Toshiba completed the transfer of its mobile phone operations to a new company, and Fujitsu completed its acquisition of shares in the new company, which will operate under Fujitsu management.

The new entity combines the respective mobile phone know-how and technology of both companies and will expand by delivering products and services that continue to meet the needs of consumers.

Fujitsu's current mobile phone operations will continue to operate as a part of Fujitsu Limited.

Overview of the New Company

Company Name: Fujitsu Toshiba Mobile Communications Limited
Capital: 450 million yen
Holding Ratio: 80.1% Fujitsu Limited, 19.9% Toshiba Corporation
Representative: Nobuo Otani, corporate senior vice president, Fujitsu Limited
Head Office: 4-1-1 Kamikodanaka, Nakahara-ku, Kawasaki-shi, Kanagawa-ken, Japan
Number of Employees: Approximately 350
Business Description: Design, development, and sales of mobile phones

 

About Fujitsu

Fujitsu is a leading provider of ICT-based business solutions for the global marketplace. With approximately 170,000 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 4.6 trillion yen (US$50 billion) for the fiscal year ended March 31, 2010. For more information, please see: www.fujitsu.com.

About Toshiba

Toshiba is a world leader and innovator in pioneering high technology, a diversified manufacturer and marketer of advanced electronic and electrical products spanning information & communications systems; 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 740 companies, with 204,000 employees worldwide and annual sales surpassing 6.3 trillion yen (US$68 billion). Visit Toshiba's web site at www.toshiba.co.jp/index.htm.

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Information in the press releases, including product prices and specifications, content of services and contact information, is current on the date of the press announcement, but is subject to change without prior notice.

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