Fujitsu sent out a press release today announcing that they’ve bought out Toshiba’s stake in the short-lived Fujitsu Toshiba Mobile Communications partnership. The company has been renamed to Fujitsu Mobile Communications Limited, as it’s now a wholly owned subsidiary of Fujitsu. Fujitsu already had 80.1% ownership stake, so the acquisition of Toshiba’s remaining 19.9% shouldn’t come as too much of a shock. Full presser below.
Press Release:
Fujitsu Converts Fujitsu Toshiba Mobile Communications into a Wholly Owned Subsidiary
Tokyo, April 2, 2012 — Fujitsu Limited and Toshiba Corporation today announced that, as of April 1, 2012, Fujitsu has acquired Toshiba’s ownership stake in Fujitsu Toshiba Mobile Communications Limited, which develops and sells mobile phones for KDDI and other carriers. As a result, Fujitsu Toshiba Mobile Communications has been converted into a wholly owned subsidiary of Fujitsu.
Reason for making the company a wholly owned subsidiary of Fujitsu
With respect to the merger of the mobile phone businesses of Fujitsu and Toshiba, in October 2010 Fujitsu received an ownership stake of 80.1% in Fujitsu Toshiba Mobile Communications, making the company a consolidated subsidiary of the Fujitsu Group.
Fujitsu has now received Toshiba’s 19.9% ownership stake, establishing Fujitsu Toshiba Mobile Communications as a wholly owned subsidiary of Fujitsu.
Due to the conversion of Fujitsu Toshiba Mobile Communications into a wholly owned subsidiary of Fujitsu, as of April 1, 2012, the company’s name has been changed to Fujitsu Mobile Communications Limited.
Source: Fujitsu
