Fujitsu to Sell Fujitsu General to Paloma Rheem

Economy

  • English
  • 日本語
  • 简体字
  • 繁體字
  • Français
  • Español
  • العربية
  • Русский

Tokyo, Jan. 7 (Jiji Press)--Fujitsu Ltd. said Monday that it will sell its 44 pct stake in Fujitsu General Ltd. to Paloma Rheem Holdings Co. for 92 billion yen.

The sale of the air conditioner maker is part of the Japanese company's efforts to transition to a technology service provider.

In 2023, Fujitsu said it would sell Shinko Electric Industries Co., a chip packaging maker, to Japan Investment Corp., a government-backed investment fund. Fujitsu also plans to sell battery maker FDK Corp.

Paloma Rheem, the parent of gas appliance maker Paloma Co., plans to spend up to some 256 billion yen through a tender offer to take full control of Fujitsu General.

END

[Copyright The Jiji Press, Ltd.]

Jiji Press