Fujitsu 2011 Annual Report Download - page 139

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5) Overview of the Business Divestitures including their Legal Form
HDD drive business: The Company established Toshiba Storage Device Corporation (“Toshiba Storage
Device”) to prepare for the transfer of the HDD drive business. On October 1,
2009, the Company carried out a corporate split and completed the transfer of
all rights and obligations in the drive business to Toshiba Storage Device, and
the transfer of Toshiba Storage Device shares to Toshiba. In addition, a new
company established out of the HDD-related business of Yamagata Fujitsu
Limited, along with the Company’s HDD manufacturing subsidiaries, Fujitsu
(Thailand) Co., Ltd., and Fujitsu Computer Products Corporation of the
Philippines became subsidiaries of Toshiba Storage Device. The Company’s HDD
sales and marketing offices outside Japan, with the exception of some offices in
certain regions, were integrated into Toshiba’s overseas business operations.
To facilitate the transfer, the Company will hold a stake of 19.9% in Toshiba
Storage Device until the end of December 2010, after which it will become a
wholly owned subsidiary of Toshiba.
HDD media business: The Company established a new company, Showa Denko HD Yamagata K.K., to
succeed the HDD media business of Yamagata Fujitsu Limited. All of the shares
in the new company were transferred to Showa Denko.
2. Summary of Accounting Procedure
1) Profit/loss from the transfers There is no difference between the proceeds from the transfers and the net
assets calculated by the appropriate book value of assets and liabilities of the
businesses prior to the transfers.
2) Appropriate book value of assets and liabilities of the businesses
Yen (millions)
Current assets ¥44,152
Non-current assets 15,645
Total assets 59,797
Current liabilities 28,231
Long-term liabilities 3,721
Total liabilities 31,952
3. Name of segment the businesses were included in
Ubiquitous Product Solutions
4. Overview of sales, profit/loss of the separated businesses included in consolidated results for the year ended March 31, 2010.
Yen (millions)
Net sales: ¥82,228
Operating loss: (9,793)
Net sales stated above include inter-segment sales of ¥2,331 million.
23. Events after the Reporting Period
No significant events.
137FUJITSU LIMITED ANNUAL REPORT 2011
FACTS & FIGURES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS