Fujitsu seeks sale of air conditioning unit11th January 2023
JAPAN: Fujitsu is reported to be seeking a quick sale of its stake in air conditioning manufacturing unit Fujitsu General.
According to the financial website Bloomberg, Fujitsu is looking to sell its entire 44% stake in the business, which is said to be valued at around JPY140bn ($1.1bn).
Bloomberg says the news was revealed by CEO Takahito Tokita in a recent interview.
Fujitsu has not commented on the story, but the company had revealed it was considering the sale of its holdings in Fujitsu General, along with semiconductor packages manufacturer Shinko Electric and battery manufacturer FDK, during its half-year financial announcement in October.
The other Fujitsu General shareholders, which include the Bank of Japan, JP Morgan and Goldman Sachs, all hold single-figure-percentage shares.