LONDON – Information and communications technology company Fujitsu Ltd. (Tokyo) has hired Swiss financial services firm UBS AG to help with the sale of its semiconductor business, according to a Bloomberg report, which cited unnamed sources.
Fujitsu is one of a number of troubled Japanese technology companies that are seeking to re-organize themselves. Renesas Electronics Corp.--formed from the semiconductor businesses of Hitachi, NEC and Mitsubishi Electric--is struggling as it tries to implement a restructuring plan. DRAM company Elpida Memory Inc. is set to be acquired by Micron Technology Inc. (Boise, Idaho) and Sharp Corp. is also seeking financial support to implement a restructuring plan.
Some confusion was caused recently when Fujitsu Semiconductor Ltd. announced that certain LSI assembly and test facilities were being transferred to J-Devices Corp., which was mis-reported as an exit from semiconductor manufacturing by Fujitsu.
[Get a 10% discount on ARM TechCon 2012 conference passes by using promo code EDIT. Click here to learn about the show and register.]
Like many other Japanese semiconductor companies, Fujitsu has been hurt by a slump in the sales of Japanese flat screen televisions and as the consumer electronics business has migrated towards Samsung Electronics Co. Ltd. and Apple Inc.
Fujitsu's chip business could be worth 200 billion yen (about $2.6 billion), according to the report.
Related links and articles: