Friday, October 31, 2003
Fujitsu sets up chip subsidiary in China
Agence France-Presse Tokyo, October 31
Japan's leading computer maker Fujitsu Ltd said on Friday it has set up a wholly-owned subsidiary in China to strengthen its semiconductor business.
Fujitsu Microelectronics Co Ltd based in Shanghai will design, develop, manufacture and market semiconductors for air conditioners, washing machines and televisions in China, the company said in a statement.
Capitalized at $400,000, the subsidiary began operations on Thursday with a sales target of $223 million in the year ended March 2005.
"Amid growing demand in China, setting up a new subsidiary there will boost our semiconductor business," said a spokeswoman for Fujitsu.
© Hindustan Times Ltd. 2003.