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Fujitsu cooks semi biz spin off, reports say

Posted: 22 Jan 2008 ?? ?Print Version ?Bookmark and Share

Keywords:semiconductor business? spin off? chip production?

News reports circulated Jan. 20 that Fujitsu Ltd plans to spin off its semiconductor business into a separate company to reduce costs, according to an Agence France-Presse report.

Fujitsu plans to separate its semiconductor division in a few months and form a new company by consolidating its chip production bases in Japan, the Asahi Shimbun and NHK said, quoting unnamed sources.

The company's semiconductor business accounts for 10 percent of its entire sales, but has long suffered losses due to growing costs of R&D and equipment investment, according to NHK.

The spin-off is expected to cut the company's losses and make the division take more flexible measures such as a merger to survive tough competition in the industry.

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