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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Fujitsu | LSE:FUJ | London | Ordinary Share | JP3818000006 | Y50 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 533.975 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMFUJ
RNS Number : 4053F
Fujitsu Ld
23 May 2013
Fujitsu Limited
May 23, 2013
Notice of Company Split Contract Execution with Semiconductor Subsidiary
Tokyo, May 23, 2013 - Fujitsu Limited has concluded a contract with its consolidated subsidiary, Fujitsu Semiconductor Limited (Fujitsu Semiconductor), whereby Fujitsu Limited will absorb the latter's Microcontroller and Analog Business through a company split (Company Split 1). Fujitsu Limited has also concluded a contract with Nihon AM Semiconductor Limited (the New Company) which is newly established by Fujitsu Semiconductor. In this second contract, Fujitsu Limited will transfer this business, also through a company split (Company Split 2), to the New Company.
Company Split 1 and Company Split 2, collectively referred to as "the Company Splits," fall within the scope of consolidated subsidiaries established through a simple absorption-type separation. For this reason certain details are not included in this disclosure.
1. Objectives of the Company Splits
The Company Splits are undertaken to realize the smooth transfer of Fujitsu Semiconductor's Microcontroller and Analog Business to the U.S.-based Spansion LLC and affiliates, which Fujitsu Limited announced on April 30, 2013.
After the business is transferred from Fujitsu Limited to the New Company, Fujitsu Semiconductor will transfer all shares in the New Company to Nihon Spansion Limited.
2. Outline of the Company Splits
(1) Fujitsu Limited Schedule
May 23, 2013 Resolution by Board of Directors approving the Company Splits
August 1, 2013 (scheduled) Scheduled date of the Company Splits (effective date)
The Company Splits meet the standards of simple absorption-type separations and therefore do not require the approval of a General Meeting of Shareholders.
(2) Allotment that Results from the Company Splits
The Company Splits will not involve an exchange of consideration.
(3) Change in Capital Resulting from the Company Splits
Fujitsu Limited's capital will not change in as a result of the Company Splits.
(4) The Rights and Obligations Associated with the Transfer and the Company Splits
Fujitsu Limited will assume a portion of the rights and obligations of Fujitsu Semiconductor's Microcontroller and Analog Business. These same rights and obligations, as well as the employment contracts held by theMicrocontroller and Analog Business, will be transferred to the New Company.
(5) Ability to Fulfill Obligations
As referenced in 4 (3)below, compared to the scale of Fujitsu Limited and Fujitsu Semiconductor, the scale of the assets and liabilities transferred and assumed as a result of the Company Splits is relatively small, and the amount of assets exceeds the amount of liabilities. For these reasons there will be no impact on the ability of Fujitsu Limited, Fujitsu Semiconductor, or the New Company to fulfill their obligations.
3. Overview of the Company Splits
(1) Company Split1
(As of March 31, 2013)
Hot Features
Premium
Successor Company Splitting Company
--------------------------- ------------------------------------ ---------------------------------------------------
Company Name Fujitsu Limited Fujitsu Semiconductor
Limited
--------------------------- ------------------------------------ ---------------------------------------------------
Address of Headquarters Kawasaki, Kanagawa, Yokohama, Kanagawa,
Japan Japan
--------------------------- ------------------------------------ ---------------------------------------------------
Representative Masami Yamamoto, President Haruki Okada, President
--------------------------- ------------------------------------ ---------------------------------------------------
Business Description Manufacturing, sales Design, development,
and associated services manufacturing, and sale
in the fields of telecommunication of LSI products, including
systems and data processing microcontrollers, ASICs,
systems ASSPs, and power supply
ICs
--------------------------- ------------------------------------ ---------------------------------------------------
Capital 324.6 billion yen 60.0 billion yen
--------------------------- ------------------------------------ ---------------------------------------------------
Date Established June 1935 March 2008
--------------------------- ------------------------------------ ---------------------------------------------------
Number of Shares 2,070,018,213 shares 6,024,000 shares
Issued
--------------------------- ------------------------------------ ---------------------------------------------------
Fiscal Year End March 31 March 31
--------------------------- ------------------------------------ ---------------------------------------------------
Major Shareholders Shareholder % Fujitsu Limited, 100%
and Percentage shareholder
of Shares Held
--------------------------- --------------------------- ------- ---------------------------------------------------
Fuji Electric
Co., Ltd. 11.04%
------------------------------------------------------- ------- ---------------------------------------------------
State Street Bank
and Trust Company 5.00%
------------------------------------------------------- -------
The Master Trust
Bank of Japan,
Ltd. (for trust) 3.93%
------------------------------------------------------- -------
Japan Trustee
Services Bank,
Ltd. (for trust) 3.78%
------------------------------------------------------- -------
Fujitsu Employee
Shareholding Association 2.72%
------------------------------------------------------- ------- ---------------------------------------------------
Financial Condition (Consolidated) (Non-consolidated)
and Financial Performance (Millions of Yen, excl. (Millions of Yen,
in Most Recent per share data) excl.
Fiscal Year Net Assets 909,809 per share data)
Total Assets 3,049,054 Net Assets 95,975
Net Assets per share Total Assets
(Yen) 377.62 199,001
Net Sales 4,381,728 Net Assets per
Operating Income 95,278 share
Net Income -72,913 (Yen)
Net Income per share 15,932.15
(Yen) -35.24 Net Sales 202,637
Operating Income
-22,644
Net Income -70,577
Net Income per
share
(Yen)
-11,716.09
*Figures prior to
acceptance
at
Annual
Shareholders'
Meeting
--------------------------- ------------------------------------ ---------------------------------------------------
(2) Company Split2
(As of March 31, 2013)
Splitting Company Successor Company
======================== ================== ===========================
Company Name Fujitsu Limited Nihon AM Semiconductor
Limited (the New Company)
------------------------ ------------------ ---------------------------
Address of Headquarters As above Yokohama, Kanagawa,
Japan
------------------------ ------------------ ---------------------------
Representative Makoto Goto, President
------------------------ ------------------ ---------------------------
Business Description Design, development,
and sales of electronic
devices
------------------------ ---------------------------
Capital 1 million yen
------------------------ ---------------------------
Date Established May 2013
------------------------ ---------------------------
Number of Shares 100 shares
Issued
------------------------ ---------------------------
Fiscal Year End December 31
------------------------ ---------------------------
Major Shareholders Fujitsu Semiconductor,
and Percentage 100% shareholder
of Shares Held
------------------------ ------------------ ---------------------------
4. Overview of the Microcontroller and Analog Device Business
(1) Business Description
Design, development, and sales of microcontrollers and analog semiconductor products
2) Financial Results of Division to be Transferred (Results from Fiscal 2012 ended March 31, 2013)
Net sales of approximately 55.0 billion yen
(3) Assets and Liabilities to be Transferred and Assumed (projected for August 1, 2013)
Company Split1
(Million Yen)
Current Assets - Current Liabilities - -------------------- ------ -------------------- ---- Non-current Assets 490 Net Assets 490 -------------------- ------ -------------------- ---- Total 490 Total 490 -------------------- ------ -------------------- ----
Company Split2
(Million Yen)
Current Assets 2,909 Current Liabilities 2,813 -------------------- ------ -------------------- ------ Non-current Assets 490 Net Assets 586 -------------------- ------ -------------------- ------ Total 3,399 Total 3,399 -------------------- ------ -------------------- ------
5. Status After the Company Splits
Fujitsu Semiconductor will transfer to Nihon Spansion Limited all shares in the New Company to which Fujitsu Limited has transferred the Microcontroller and Analog Business.
6. Business Impact
The impact of the Company Splits on Fujitsu Limited's financial results is minimal. Furthermore, the impact of the Microcontroller and Analog Business transfer to Spansion LLC and affiliates, including the transfer of shares in the New Company to Nihon Spansion Limited, has been factored into Fujitsu Limited's consolidated financial projections for fiscal 2013 that were released on April 30, 2013.
About Fujitsu
Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 170,000 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 4.4 trillion yen (US$47 billion) for the fiscal year ended March 31, 2013. For more information, please see http://www.fujitsu.com.
Fujitsu Limited Press Contact
Public and Investor Relations Division
Inquiries: https://www-s.fujitsu.com/global/news/contacts/inquiries/index.html
This information is provided by RNS
The company news service from the London Stock Exchange
END
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