Fujitsu Ltd. has agreed to transfer a majority stake in its subsidiary Fujitsu Connected Technologies Ltd and its new mobile device business unit to Polaris Capital Group Co. Ltd.
After the transfer, Fujitsu will retain a 30% stake in Fujitsu Connected Technologies and a 19% stake in Japan EM Solutions Ltd, a new company that will take over Fujitsu Peripherals Ltd's mobile device business.
Fujitsu Connected Technologies will continue to offer products under the Raku Raku and Arrows mobile phone lines and other in-house brands.
Fujitsu Peripherals will develop and manufacture printers as an original design manufacturing business and a wholly owned subsidiary of Fujitsu.
The impact of the share transfer on Fujitsu's profit for fiscal 2017 should be approximately ¥30 billion.
The transaction is expected to be completed by the end of March.
As of Jan. 31, US$1 was equivalent to ¥109.27.
