Fuji Electric Systems Strengthens Photovoltaic Power System Business

March 12, 2009

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Fuji Electric Co., Ltd., today announced that a meeting of its Board of Directors convened today approved a resolution to merge with and absorb the Company’s wholly owned subsidiary Fuji Electric Device Technology Co., Ltd., as shown below. Further, because this is a simple merger of a wholly owned subsidiary, certain disclosure items and details have been omitted. 

1. Aim of merger 

Fuji Electric Device Technology Co., Ltd., specializes in hard disks, which are core components of hard disc drives. 
Since November 2010, Fuji Electric Device Technology Co., Ltd., has been restructuring business with a view to transferring the sales, development, and production functions of Fuji Electric Device Technology Co., Ltd., (of the Yamanashi Plant) to Fuji Electric (Malaysia) Sdn. Bhd. during fiscal 2011, the year ending March 2012. However, given the dramatic changes in conditions in the hard disk drive market recently, the Company is aiming to restructure within stepped-up rigor. Consequently, the Company has brought forward the timing of the transfer and will transfer all of the operations, organization, and assets of Fuji Electric Device Technology Co., Ltd., to Fuji Electric (Malaysia) Sdn. Bhd. and the Company by the end of June 2011. 

Accordingly, Fuji Electric Device Technology Co., Ltd., will merge into the Company on July 1,2011.

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