Fujitsu 2009 Annual Report Download - page 119

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21. Business Combinations
For the year ended March 31, 2008
Shift of Consolidated Subsidiaries to Wholly Owned Subsidiaries through a Share Exchange
1. Names and Business Description of the Companies under Business Combination, Legal Form of the Business Combination, Overview of the
Transaction Including its Objectives
1) Names and Business Description of Companies under Business Combination
(i) Names of Companies under Business Combination:
Fujitsu Limited and its subsidiaries Fujitsu Access Limited, Fujitsu Devices Inc. and Fujitsu Wireless Systems Limited
(ii) Business Description
Fujitsu Access Limited Development, manufacture and sales of information and communication equipment and
related systems
Fujitsu Devices Inc. Development, design and sales of semiconductors and related software
Fujitsu Wireless Systems Limited Manufacture of information and communication equipment
2) Legal Framework of the Business Combination, Name of Companies Subsequent to the Combination
Share exchange
There was no change in the names of the companies upon the share exchange. On October 1, 2007, Fujitsu Devices Inc. changed
its name to Fujitsu Electronics Inc.
3) Overview of the Transaction, Including its Objectives
In order to enable the Company to better respond to the services needs of our customers and strengthen our customer-focused
operating structure, on August 1, 2007, the shareholders of Fujitsu Access Limited, Fujitsu Devices Inc. and Fujitsu Wireless Systems
Limited transferred their common shares to the Company. In exchange, the Company distributed shares in the Company to these
shareholders. Accordingly, the three companies became wholly owned subsidiaries of the Company. On July 26, 2007, Fujitsu Access
Limited (listed on the First Section of the Tokyo Stock Exchange) and Fujitsu Devices Inc. (listed on the Second Section of the Tokyo
Stock Exchange) were delisted.
2. Summary of the Accounting Treatment of the Transactions
As the share exchange falls under the category of transactions with minority shareholders, the interest in the additional shares of the
subsidiaries acquired through the transactions will be deducted from minority interests, and the difference between that amount
and the additional investment amount will be treated as goodwill.
3. Information Concerning the Additional Acquisition of Shares in the Subsidiaries
1) The Acquisition Cost and its Breakdown
Acquisition cost: ¥25,965 million
The Company shares valued at ¥25,945 million with ¥20 million spent in acquiring the shares; all were treasury stock.
FACTS & FIGURES Notes to Consolidated Financial Statements
117
ANNUAL REPORT 2009
FUJITSU LIMITED