Fujitsu acquires outstanding 20% stake from Toshiba and converts the device unit to wholly owned subsidiary: http://bit.ly/IpBDpB
As the consolidation continues, this move does not come as much of a surprise.. [Eds]
Tokyo, April 2, 2012 — Fujitsu Limited and Toshiba Corporation today announced that, as of April 1, 2012, Fujitsu has acquired Toshiba’s ownership stake in Fujitsu Toshiba Mobile Communications Limited, which develops and sells mobile phones for KDDI and other carriers. As a result, Fujitsu Toshiba Mobile Communications has been converted into a wholly owned subsidiary of Fujitsu.
Reason for making the company a wholly owned subsidiary of Fujitsu
With respect to the merger of the mobile phone businesses of Fujitsu and Toshiba, in October 2010 Fujitsu received an ownership stake of 80.1% in Fujitsu Toshiba Mobile Communications, making the company a consolidated subsidiary of the Fujitsu Group.
Fujitsu has now received Toshiba’s 19.9% ownership stake, establishing Fujitsu Toshiba Mobile Communications as a wholly owned subsidiary of Fujitsu.
Due to the conversion of Fujitsu Toshiba Mobile Communications into a wholly owned subsidiary of Fujitsu, as of April 1, 2012, the company’s name has been changed to Fujitsu Mobile Communications Limited.
Company Name - Fujitsu Mobile Communications Limited
Capital - 450 million yen
Holding Ratio - 100% Fujitsu Limited
Representative - Nobuo Otani, Corporate Senior Vice President, Fujitsu Limited
Head Office - 4-1-1 Kamikodanaka, Nakahara-ku, Kawasaki-shi, Kanagawa-ken, Japan
No. of Employees – Approximately 300 (As of March 31, 2012)
Business Description - Design, development, and sales of mobile phones