TOKYO, May 9, 2017 - (JCN Newswire) - Fujitsu Limited and Furukawa Electric Co., Ltd. today announced that Fujitsu has agreed to acquire 51% of the outstanding shares of FITEC Corporation, the Furukawa Electric Group company, in an information systems partnership. Furukawa Electric and Fujitsu plan to begin joint operation of FITEC in October of this year.
Through this partnership, Furukawa Electric aims to achieve competitive manufacturing using the latest information technologies, such as IoT and AI, while strengthening the development of IT personnel at FITEC, which is responsible for the Furukawa Electric Group's information systems. In addition, it will accelerate IT governance initiatives, such as information security countermeasures and greater efficiencies in mission-critical tasks, to strengthen Group management.
Fujitsu aims to strengthen its relationship with Furukawa Electric through joint operation of FITEC, and together with providing comprehensive support for Furukawa Electric's IT systems, will also acquire knowledge with regard to Furukawa Electric's IT skills and operational experience in the manufacturing field. In this way, Fujitsu aims to strengthen its own manufacturing solutions, and co-create innovation with Furukawa Electric using cutting-edge digital technologies, such as IoT and AI.
Through this partnership, FITEC aims to expand its business contributions and improve the quality of its information systems services for the Furukawa Electric Group and its many customers. To achieve this, FITEC will learn from and incorporate the advanced technologies and solutions capabilities from Fujitsu, in addition to the experience it has built up in operations for the Furukawa Electric Group.
About Furukawa Electric Group
Furukawa Electric (TSE; 5801, ISIN; JP3827200001) Group started business in 1884, when its copper-smelting facility and wire manufacturing factory was established. Since then Furukawa Electric has become pioneers in the latest technologies by addressing diverse technological issues. Furukawa Electric has released products in a number of areas, including telecommunications, electronics, automobiles, and construction, with the three types of materials it works with at their core, namely, optics, plastics, and metals. Many of these products have attained the top global market share, and all of its products have contributed to society in numerous business areas. Furukawa Electric reported consolidated revenues of JPY 874.9 billion (approximately USD 8.0B) for the fiscal year ended March 31, 2016.
About Fujitsu Ltd
Fujitsu is the leading Japanese information and communication technology (ICT) company, offering a full range of technology products, solutions, and services. Approximately 132,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. For more information, please see www.fujitsu.com.
This release can be found at https://www.fujitsu.com/global/about/resources/news/press-releases/2019/.
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Public and Investor Relations
May 9, 2017 17:20 HKT/SGT
Source: Fujitsu Ltd
Fujitsu Ltd (TSE: 6702)
Topic: Press release summary
Sectors: Enterprise IT
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