Fujitsu Advances on Job Cuts, Chip Reorganization
This article is for subscribers only.
Fujitsu Ltd., a Japanese maker of computers and telecommunications gear, rose to the highest in 10 months in Tokyo trading on plans to eliminate 5,000 jobs and merge its LSI chip business with that of Panasonic Corp.
Fujitsu jumped 5.1 percent to 434 yen, the highest since April 2. The venture will design large-scale integration, or LSI chips, and contract out their manufacture, according to a joint statement yesterday. The state-backed Development Bank of Japan was asked to help finance the venture, the companies said.