Fujitsu, Lenovo and DBJ form PC Joint Venture
TOKYO, Nov 03, 2017 - (JCN Newswire) - Fujitsu Limited, Lenovo Group Limited and Development Bank of Japan Inc. (DBJ) today announced a strategic collaboration that creates a joint venture between the three companies. The joint venture will focus on the research, development, design, manufacturing and sales of Client Computing Devices (CCD) for the global PC market. Fujitsu will sell a 51% stake in its wholly owned subsidiary Fujitsu Client Computing Limited (FCC") to Lenovo and a 5% stake to DBJ. After the transaction, FCCL will become a joint venture company (JV) owned by Fujitsu, Lenovo and DBJ and will continue to be known as Fujitsu Client Computing Limited. 1. Overview of the Strategic PC Cooperation
| Capital structure after the transaction | |
| New Business structure of PC/ Tablet | |
The transaction is expected to be closed in 1Q FY2018. The aggregate consideration received by Fujitsu will be JPY 28.0 billion (approximately HKD1.9 billion) that includes JPY 25.5 billion from Lenovo and JPY 2.5 billion from DBJ(1). After the transaction, Kuniaki Saito, the current representative director and president of FCCL, will assume the role of Representative Director and President of FCCL.
http://www.acnnewswire.com/topimg/Low_FujitsuCapitalStructureAfterTransaction.jpg Capital structure after the transaction After the JV is established, FCCL products will continue to be distributed and sold under the Fujitsu brand name. Fujitsu will continue to serve corporate customers worldwide directly or indirectly through its valued channel partner network and provide the related after-sales support and services. FCCL will serve the consumer market in Japan either directly or indirectly through mass retailers and provide product support and services.
http://www.acnnewswire.com/topimg/Low_FujitsuNewPCBusinessStructure.jpg New Business structure of PC/ Tablet Through this strategic collaboration, Fujitsu and Lenovo aim to drive further growth, scale and competitiveness in the PC businesses both in Japan and worldwide. The JV will leverage Fujitsu's capabilities in global sales, customer support, R&D, highly-automated and efficient manufacturing and systems integration that meet customers' demand. Furthermore, it will benefit from Lenovo's global scale and presence. Through investment in JV, DBJ will support FCCL's sustainable growth and provide financial expertise from the perspective of a financial institution. Fujitsu will continue to offer a high-quality, innovative, secure, and reliable Fujitsu branded CCD portfolio to its corporate customers worldwide, contributing to their digital transformation journey, and co-creating the workplace of the future by integrating PC offerings with Technology Solutions. 2. Current Overview of Fujitsu Client Computing
1) Name: Fujitsu Client Computing Limited 2) Location: 4-1-1 Kamikodanaka, Nakahara-ku, Kawasaki, Kanagawa 3) Business: Research, development, manufacturing, sale and maintenance of PCs and tablets 4) Representative: Kuniaki Saito, Representative Director and President 5) Capital: Yen400 million 6) Establishment: February 1, 2016 7) Ownership: Fujitsu Limited (100%) 8) Employees: 1,128 (as of June 1, 2017)
(1) The actual consideration could be adjusted from the above-mentioned figures based on FCCL's balance sheet at closing date. The initial consideration from Lenovo will be JPY 17.85 billion and will be adjusted upwards based on FCCL's future business performance. About Lenovo
Lenovo (HKSE: 992) (ADR: LNVGY) is a $43 billion global Fortune 500 company and a leader in providing innovative consumer, commercial, and data center technology. Our portfolio of high-quality, secure products and services covers PCs (including the legendary Think and multimode YOGA brands), workstations, servers, storage, networking, software (including ThinkSystem and ThinkAgile) solutions, smart TVs and a family of mobile products like smartphones (including the Motorola brand), tablets and apps. Join us on LinkedIn, follow us on Facebook or Twitter (@Lenovo) or visit us at www.lenovo.com.
About DBJ
DBJ is a 100% Japanese government-owned financial institution headquartered in Tokyo, Japan. Since the establishment of its predecessor, Japan Development Bank in 1951, throughout its history, the bank has been devoted to regional development, environmental conservation, basic social infrastructure, and the creation of technology and industry. With the customer-oriented innovative solutions drawn from its unique integrated business model of investment and loans, DBJ aims to promote joint risk capital-financing with business players, financial institutions and investors for the creation and promotion of the growth capital market.
Contact:Lenovo
Angela Lee (in Hongkong)
Phone: +852 2516 4810
E-mail: angelalee@lenovo.com
Lenovo
Charlotte West (in London)
Phone: +44 7825 605720
E-mail: cwest@lenovo.com
Lenovo
Masayoshi Suzuki (in Tokyo)
Phone: +81-6701-6020
E-mail: msuzuki1@lenovo.com
Development Bank of Japan Inc.
Public Relations Office
Corporate Planning & Coordination Department
Phone: +81-3244-1180
E-mail: dbjpr@dbj.jp
Fujitsu Limited
Public and Investor Relations
Tel: +81-3-6252-2176
URL: www.fujitsu.com/global/news/contacts/
Source: Fujitsu Ltd Sectors: Electronics
Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
|
Latest Press Release
Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024 Apr 25, 2024 18:21 JST
| MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park Apr 25, 2024 17:45 JST
| GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series Apr 25, 2024 16:50 JST
| Toyota Exhibiting at Beijing Motor Show 2024 Apr 25, 2024 16:25 JST
| Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada Apr 25, 2024 11:10 JST
| UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh Apr 25, 2024 09:00 JST
| Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date Apr 24, 2024 17:19 JST
| MC and Denka Sign J/V Agreement in Fullerene Business Apr 24, 2024 17:02 JST
| Mitsubishi Motors Posts Record Sales in the Philippines in FY2023 Apr 24, 2024 13:56 JST
| NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance Apr 24, 2024 13:25 JST
| Fujitsu SX Survey reveals key success factors for sustainability Apr 23, 2024 10:25 JST
| Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions Apr 22, 2024 16:09 JST
| NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II Apr 22, 2024 15:09 JST
| Soft Space Launches the First and Only JCB Payment Gateway in Malaysia Apr 22, 2024 15:00 JST
| TOYOTA GAZOO Racing takes a one-two in Croatian thriller Apr 22, 2024 10:47 JST
| First-ever Mazda CX-80 Crossover SUV Unveiled in Europe Apr 19, 2024 13:50 JST
| Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces Apr 19, 2024 10:17 JST
| Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas Apr 18, 2024 17:01 JST
| Toyota Launches All-New Land Cruiser "250" Series in Japan Apr 18, 2024 13:39 JST
| Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan Apr 18, 2024 11:14 JST
|
More Latest Release >>
|