Latest in Business

Image credit:

Fujitsu will spin off chip division, say reports (now official)

Evan Blass

Fujitsu Limited, which is known for many fine products from laptops to degaussers, is allegedly poised to spin off one business it is not so well known for, its semiconductor division. Both NHK and the Asahi Shimbun are reporting that the Japanese firm will cut loose the organization "in a few months and form a new company by consolidating its chip production bases in Japan." According to Japan Today, while accounting for 10% of the multinational conglomerate's sales, the division continues to see heavy losses due to steep development costs, and may eventually have to merge with one of its rivals in order to survive.

Update: It's official. Fujitsu says it will form a new subsidiary in March. The consolidation efforts will be complete in September to a tune of ¥10 billion (about $93 million).

From around the web

ear iconeye icontext filevr