Tokyo, Apr 30, 2009 - (JCN Newswire) - Showa Denko K.K. (SDK) and Fujitsu Limited (Fujitsu) today concluded a definitive contract on the transfer of Fujitsu's hard disk (HD) media business, operated by Fujitsu subsidiary Yamagata Fujitsu Limited, to SDK in accordance with the MOU of February 17, 2009.
Based on this definitive contract, Fujitsu will establish a new company that will take over Yamagata Fujitsu's HD media business. Fujitsu will then transfer all shares in the new company to SDK by July 1, 2009. SDK and Fujitsu will continue to cooperate in the establishment of the new company and smooth transfer of the HD media business.
Yamagata Fujitsu manufactures aluminum media for HDs used in servers, and glass media for compact HDs used in mobile PCs and car electronics. Through the acquisition of Yamagata Fujitsu's HD media business, SDK will step up its development and production of aluminum media for servers. At the same time, SDK will meet the requirements of customers who have been using Yamagata Fujitsu's HD media.
SDK will obtain HD-media-related R&D capabilities, manufacturing know-how, and intellectual property owned by Yamagata Fujitsu. SDK will merge these capabilities with its own technologies, aiming to soon realize the synergies.
The HD/media market is expected to continue high growth centering on such applications as notebook PCs and digital electric appliances. Demand for high-storage-capacity HD media will also grow due to the introduction of digital terrestrial broadcasting and increased sales of high-definition camcorders. Thus, SDK will continue developing quickly the next-generation magnetic-recording technology for larger-capacity HD media by merging Yamagata Fujitsu's capabilities, centering on server applications, with its own advanced technologies.
As the world's largest independent HD media supplier, SDK will continue developing and supplying large-capacity HD media to meet customer needs.
Overview of the new company (on and after July 1, 2009)
Company name: Showa Denko HD Yamagata K.K. (scheduled)
Head office: Higashine City, Yamagata Prefecture
Representative: Hideo Ichikawa (Director and Executive Officer,
HD Sector, SDK)
Capital: JPY 450 million (scheduled)
Ownership: To be owned wholly by SDK (After the establishment
of the company by Fujitsu's investment, all shares
owned by Fujitsu will be transferred to SDK.)
Business: Development, production and sale of HD media
Employees: Approximately 360
Schedule
June 2009: Establish new company (scheduled)
July 1, 2009: Complete transfer of new company shares (scheduled)
Start operation (scheduled)
About Fujitsu
Fujitsu is a leading provider of IT-based business solutions for the global marketplace. With approximately 175,000 employees supporting customers in 70 countries, Fujitsu combines a worldwide corps of systems and services experts with highly reliable computing and communications products and advanced microelectronics to deliver added value to customers. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 4.6 trillion yen (US$47 billion) for the fiscal year ended March 31, 2009. For more information, please see: www.fujitsu.com.
About Showa Denko
Showa Denko K.K. ('SDK'; TSE: 4004, US: SHWDF) is a major manufacturer and marketer of chemical products serving a wide range of fields ranging from heavy industry to the electronic and computer industries. SDK makes petrochemicals (ethylene, propylene), aluminum products (ingots, rods), electronic equipment (hard disks for computers) and inorganic materials (ceramics, carbons). The company has overseas operations and a joint venture with Netherlands-based Montell and Nippon Petrochemicals to make and market polypropylenes. In March 2001, SDK merged with Showa Denko Aluminum Corporation to strengthen the high-value-added fabricated aluminum products operations, and is today developing next-generation optical communications-use wafers. For more information, please visit www.sdk.co.jp .
Contact:
SDK
IR & PR Office
Tel: 81-3-5470-3235
Fujitsu Limited
Public and Investor Relations Division
http://www.fujitsu.com/global/news/contacts/
Apr 30, 2009
Source: Fujitsu
Fujitsu (TSE: 6702) (U.S: FJTSY)
Showa Denko (TSE: 4004) (U.S: SHWDF)
From the Japan Corporate News Network
http://www.japancorp.net
Topic: Press release summary
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