It's official: Fujitsu and Panasonic plan IC joint venture

02/8/2013 | Bloomberg · XBitLabs.com

The rumored semiconductor joint venture between Fujitsu and Panasonic will come to fruition under a Fujitsu restructuring that includes the elimination of 5,000 jobs. Fujitsu President Masami Yamamoto said the company may also relocate a wafer fabrication line in Japan's Mie prefecture and is in negotiations with Taiwan Semiconductor Manufacturing about foundry services. "Fujitsu will still have the burden of bringing the new joint venture to profitability, and we do not expect profit growth commensurate with the staff reductions," Goldman Sachs Group analysts said in a report to investors.

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Bloomberg · XBitLabs.com

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