Announcing our PC partnership with Fujitsu. We will bring synergy, innovation & efficiency to even more customers. Photo courtesy of Lenovo Group Limited

Tokyo, Japan - November 02, 2017

Fujitsu Limited (“Fujitsu”) (TSE: 6702), Lenovo Group Limited (“Lenovo”) (HKSE: 992) (ADR: LNVGY) and Development Bank of Japan Inc. (“DBJ”) today announced a strategic collaboration that creates a joint venture between the three companies.

The FUJITSU ESPRIMO family offers you a complete range of fully featured and highly expandable PCs that you can rely on to run the office applications of today and tomorrow. Best-in-class Fujitsu development and outstanding production quality ensures superior reliability. Power supplies with world-class power efficiency to lower your energy bill and reduce your environmental footprint. In fact, devices with up to 94% efficient power supply technology reduce energy costs by up to 40% compared to a 4-year old PC. With individual configuration options and the unique DeskView Load pre-installation solution, FUJITSU ESPRIMO Desktops help you reduce deployment costs  and  flexibly manage each system for years to come. Photo courtesy of Fujitsu Limited

The joint venture will focus on the research, development, design, manufacturing and sales of Client Computing Devices (CCD) for the global PC market.

Fujitsu will sell a 51% stake in its wholly owned subsidiary Fujitsu Client Computing Limited (“FCCL”) to Lenovo and a 5% stake to DBJ.

Looking for a quality and reliable notebook or Ultrabook to empower you to work when and where you choose? The FUJITSU Notebook LIFEBOOK portfolio supports your business with entry-level and powerful individual solutions. Extensive configuration options for each notebook provide ultimate flexibility. Every FUJITSU notebook delivers highest reliability, driven by a unique combination of German precision engineering and Japanese quality, supported by 30 years of experience. Choose and configure your notebook for your business computing demands and benefit from unique features and solutions. Photo courtesy of Fujitsu Limited

After the transaction, FCCL will become a joint venture company (“JV”) owned by Fujitsu, Lenovo and DBJ and will continue to be known as Fujitsu Client Computing Limited.


1. Overview of the Strategic PC Cooperation

The transaction is expected to be closed in 1Q FY2018.

The aggregate consideration received by Fujitsu will be JPY 28.0 billion (approximately HK$1.9 billion) that includes JPY 25.5 billion from Lenovo and JPY 2.5 billion from DBJ.
[The actual consideration could be adjusted from the above-mentioned figures based on FCCL’s balance sheet at closing date. The initial consideration from Lenovo will be JPY 17.85 billion (approximately HK$1.23 billion) and will be adjusted upwards based on FCCL’s future business performance.]

After the transaction, Kuniaki Saito, the current representative director and president of FCCL, will assume the role of Representative Director and President of FCCL.

Capital structure after the transaction. Courtesy of Fujitsu Limited

Capital structure after the transaction

After the JV is established, FCCL products will continue to be distributed and sold under the Fujitsu brand name.

Fujitsu will continue to serve corporate customers worldwide directly or indirectly through its valued channel partner network and provide the related after-sales support and services.

FCCL will serve the consumer market in Japan either directly or indirectly through mass retailers and provide product support and services.

New Business structure of PC / Tablet. Courtesy of Fujitsu Limited

New Business structure of PC / Tablet

Through this strategic collaboration, Fujitsu and Lenovo aim to drive further growth, scale and competitiveness in the PC businesses both in Japan and worldwide.

The JV will leverage Fujitsu’s capabilities in global sales, customer support, R&D, highly-automated and efficient manufacturing and systems integration that meet customers’ demand.

Furthermore, it will benefit from Lenovo’s global scale and presence.

Through investment in JV, DBJ will support FCCL’s sustainable growth and provide financial expertise from the perspective of a financial institution.

Lenovo said on October 24, 2017, that it teamed up with Intel to bring FIDO-based certification directly to its Windows 10 PCs packing seventh and eighth-generation Core processors. This team-up essentially means the credentials used for Facebook, Google, Twitter, Amazon, PayPal, and so on will be safeguarded on the device by hardware-level encryption and the Intel Online Connect platform,  keeping your  private information out of the hands of hackers. Photo courtesy of Lenovo Group Limited

Fujitsu will continue to offer a high-quality, innovative, secure, and reliable Fujitsu branded CCD portfolio to its corporate customers worldwide, contributing to their digital transformation journey, and co-creating the workplace of the future by integrating PC offerings with Technology Solutions.


2. Current Overview of Fujitsu Client Computing

(1) Name   Fujitsu Client Computing Limited

(2) Location   4-1-1 Kamikodanaka, Nakahara-ku, Kawasaki, Kanagawa

(3) Business Research, development, manufacturing, sale and maintenance of PCs and tablets

(4) Representative   Kuniaki Saito, Representative Director and President

(5) Capital   ¥400 million

(6) Establishment   February 1, 2016

(7) Ownership   Fujitsu Limited (100%)

(8) Employees   1,128 (as of June 1, 2017)


About Fujitsu

Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services.

Approximately 155,000 Fujitsu people support customers in more than 100 countries.

We use our experience and the power of ICT to shape the future of society with our customers.

Fujitsu Limited (TSE: 6702) reported consolidated revenues of 4.5 trillion yen (US$40 billion) for the fiscal year ended March 31, 2017.

For more information, please see http://www.fujitsu.com 


About Lenovo

Lenovo (HKSE: 992) (ADR: LNVGY) is a $43 billion global Fortune 500 company and a leader in providing innovative consumer, commercial, and data center technology.

Our portfolio of high-quality, secure products and services covers PCs (including the legendary Think and multimode YOGA brands), workstations, servers, storage, networking, software (including ThinkSystem and ThinkAgile) solutions, smart TVs and a family of mobile products like smartphones (including the Motorola brand), tablets and apps.

Join us on LinkedIn, follow us on Facebook or Twitter (@Lenovo) or visit us at www.lenovo.com 


About DBJ

DBJ is a 100% Japanese government-owned financial institution headquartered in Tokyo, Japan.

Since the establishment of its predecessor, Japan Development Bank in 1951, throughout its history, the bank has been devoted to regional development, environmental conservation, basic social infrastructure, and the creation of technology and industry.

With the customer-oriented innovative solutions drawn from its unique integrated business model of investment and loans, DBJ aims to promote joint risk capital-financing with business players, financial institutions and investors for the creation and promotion of the growth capital market.


Press Contacts

Fujitsu

Public and Investor Relations Division
Inquiries:
https://www.fujitsu.com/global/about/resources/news/-presscontacts/form/index.html

Lenovo

Contact: Charlotte West (in London)
Email: cwest@lenovo.com  
Tel: +44 7825 605720

Contact: Angela Lee (in Hongkong)
Email: angelalee@lenovo.com  
Tel: +852 2516 4810

Contact: Masayoshi Suzuki (in Tokyo)
Email: msuzuki1@lenovo.com  
Tel: +81-6701-6020

Development Bank of Japan Inc.

Public Relations Office, Corporate Planning & Coordination Department
Email: dbjpr@dbj.jp  
Tel: +81-3244-1180


Sources:

Fujitsu Limited

http://www.fujitsu.com/global/  

Lenovo

http://news.lenovo.com/news-releases/  



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