Semiconductors
Fujitsu is to spin off its loss-making chip business as increasing competition is forcing the Japanese group to create a leaner organisation. Alongside NEC and Hitachi, which make a wide range of goods from chips to nuclear reactors, Fujitsu is finding it increasingly difficult to compete with nimbler rivals in other parts of Asia and the US. But rather than sell underperforming units to private equity groups or foreign rivals, Japanese companies have largely preferred to spin off the chip-making businesses into subsidiaries controlled by the parent company. Fujitsu said it needed to improve efficiency and reduce development times to compete with its rivals, including Toshiba and Infineon. The unit is expected...
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