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Fujitsu and Toshiba Complete Merger of Mobile Phone Businesses
Posted: 01-Oct-2010 [Source: Fujitsu]

[Fujitsu and Toshiba announce merger completion of their mobile phone businesses to operate under Fujitsu management.]

Tokyo -- 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

Capital: 450 million yen

Company Name: Fujitsu Toshiba Mobile Communications Limited

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

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