Fujitsu to Divest Entire $1 Billion Air-Conditioning Unit Stake
- Stake sale in chip-gear maker Shinko may need government input
- Japan’s electronics conglomerates are refocusing businesses
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Fujitsu Ltd. is aiming for a quick sale of its entire stake in air-conditioning manufacturing unit Fujitsu General Ltd. to help streamline its operations, and isn’t considering a partial divestment, its chief executive officer said.
The Japanese IT firm, which in its heyday made everything from laptops and supercomputers to chips, mobile phones and home appliances, has hived off much of its consumer product lineup to focus on communications and information technology systems for businesses. Like Hitachi Ltd. and Toshiba Corp., which saw their fortunes rise during Japan’s postwar economic boom, Fujitsu is shedding non-core operations.