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Fujitsu Ld. (FUJ)

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Thursday 25 August, 2011

Fujitsu Ld.

Notice Regarding Liquidation of Specified Subsid.

RNS Number : 0323N
Fujitsu Ld
25 August 2011
 



Fujitsu Limited

Notice Regarding Liquidation of Specified Subsidiary

 

Tokyo, August 25, 2011 - Fujitsu Limited has announced that its Board of Directors today decided to liquidate its specified subsidiary, Fujitsu International Finance (Netherlands) B.V. ("FIF").

1. Reason for Liquidation

FIF was established to conduct Group financing activities in Europe. Now, however, because its Group financing role has concluded, Fujitsu made the decision to liquidate FIF.

2. Company Outline

(1) Name                                Fujitsu International Finance (Netherlands) B.V.

(2) Representative                   Masao Kasugai, Managing Director

(3) Head Office Location          Atrium, Strawinskylaan 3105, 1077 ZX, Amsterdam, The Netherlands

(4) Date of Establishment        May 4, 1988

(5) Business Activities            Group financing for overseas affiliates

(6) Capital                              Euro 265,341,955.86

(7) Ownership of Shares          100% Fujitsu Limited

(8) Number of Shares Issued    584,737 shares

(9) Financials for the Past Three Fiscal Years Ended March 31 (million yen)

 

2009

2010

2011

Net Sales

26

3

3

Operating Income

17

-5

-8

Ordinary Income

869

13

-8

Net Income

862

12

-1

Net Income (per share)

0.001

0

0

Total Assets

4,422

4,264

4,003

Net Assets

4,405

4,251

3,998

Net Assets (per share)

0.01

0.01

0.01

Dividend (per share)

-

-

-

 

3. Schedule

Liquidation to be completed as of March 31, 2012 (planned)

 

4. Impact on Financial Results

The liquidation of FIF will elicit no impact on income before income taxes and minority interests. However, including the effect of foreign exchange fluctuations, Fujitsu anticipates a decline of approximately 10.0 billion yen in income taxes in line with this liquidation.

In addition, because this impact was already factored into the consolidated first-half and full-year forecasts for the fiscal year ending March 31, 2012, as stated in FY 2011 First-Quarter Financial Results announced on July 28, 2011, earnings projections will not be revised.

 

Press Contacts:

Fujitsu Limited

Public and Investor Relations Division

Inquiries: https://www-s.fujitsu.com/global/news/contacts/inquiries/index.html

 

About Fujitsu

Fujitsu is a leading provider of information and communication technology (ICT)-based business solutions for the global marketplace. With approximately 170,000 employees supporting customers in over 100 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 4.5 trillion yen (US$55 billion) for the fiscal year ended March 31, 2011. For more information, please see: www.fujitsu.com

 

All other company or product names mentioned herein are trademarks or registered trademarks of their respective owners. Information provided in this press release is accurate at time of publication and is subject to change without advance notice.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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