Fujitsu, Sumitomo JV gets EU nod

March 31, 2004 – After receiving approval from the European Union, Japan’s Fujitsu and Sumitomo Electric Industries have formed a 50-50 JV to focus on “everything from development to manufacturing and sales” of a range of compound semiconductor devices, initially proposed in December 2003.

The new company, Eudyna Devices, combines the two firms’ respective semiconductor units — Fujitsu subsidiary Quantum Devices Ltd. and Sumitomo’s electronics unit — with 1100 employees and capitalization of ¥19.5 billion.

Masami Fukuta, presidenet of Fujitsu Quantum Devices, will be Eudyna’s CEO, while Sumitomo’s Nobuo Shiga takes over as the JV’s COO.

The companies reported combined 2003 sales of about $40 billion.


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