Fujitsu 2009 Annual Report Download - page 121

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For the year ended March 31, 2009
No significant transactions
22. Subsequent Events
Business Combinations and Business Separations
1. Applying Purchase Method Accounting
(Conversion of Fujitsu Siemens Computers (Holding) B.V. into a Consolidated Subsidiary of the Company)
On November 3, 2008, the Company signed an agreement with Siemens AG (“Siemens”) for the acquisition of 50% of the total shares of
Fujitsu Siemens Computers (Holding) B.V. (“Fujitsu Siemens Computers”). As a result, Fujitsu Siemens Computers was converted from an
equity method affiliate of the Company into a consolidated subsidiary on April 1, 2009.
1) Name and Business Description of the Acquired Company; Overview of the Company from which the Shares will be Acquired; Principal
Reasons for Carrying Out the Business Combination; Date of the Business Combination; Legal Form of the Business Combination and the
Name of the Business Subsequent to the Combination; Percentage of Voting Rights Held
(i) Name and Business Description of the Acquired Company
Name of the acquired company Fujitsu Siemens Computers (Holding) B.V.
Location Het Kwadrant 1, 3606 AZ Maarssen, The Netherlands
Representative Kai Flore
Euros
(millions)
Size/Performance Capital € 272
Total Assets 2,546
Net Sales 5,206
Net loss (270)
Note: Amounts for the fiscal year ended March 31, 2009 were prepared in accordance with the accounting principles generally accepted in the Netherlands.
Business description Development, manufacture, sale and maintenance of information systems
(ii) Overview of the Company from which the Shares will be Acquired
Corporate name Siemens AG
Location Wittelsbacherplatz 2, 80333 Munich, Germany
(iii) Principal Reasons for Carrying Out the Business Combination
The Company and Siemens integrated their information system businesses in Europe and established Fujitsu Siemens Computers on
October 1, 1999 for the development, manufacture, sale and maintenance of information systems. Due to changes in the competitive
environment in the IT industry and new business opportunities, particularly in the infrastructure services market, the Company decided
to convert Fujitsu Siemens Computers into a consolidated subsidiary. Fujitsu Siemens Computers, which mainly operates in Germany,
one of the biggest IT markets in Europe, will help the Company promote the globalization of its products business. In addition, the
Company will offer high value-added services to customers by strengthening the relationship between Fujitsu Siemens Computers
and Fujitsu Services Holdings PLC, a UK subsidiary leading in service business in Europe, in order to accelerate the improvement of
profitability outside Japan and pursue opportunities for growth in the infrastructure service business.
(iv) Date of the Business Combination
April 1, 2009
FACTS & FIGURES Notes to Consolidated Financial Statements
119
ANNUAL REPORT 2009
FUJITSU LIMITED