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  Date: 02/03/2015

Socionext is the combined semiconductor biz of Fujitsu and Panasonic

Socionext Inc., the newly formed system on chip company today announced the start of operations. The organization has completed the consolidation of the system LSI businesses of Fujitsu Limited and Panasonic Corporation, and secured an investment from the Development Bank of Japan Inc. Assuming approval at the stockholder meeting scheduled for this afternoon, Chairman and CEO Yasuo Nishiguchi, President & COO Amane Inoue, and a further seven directors of the board (three external executive directors) and two auditors (one external auditor) will be appointed.

Socionext is Japan's leading System LSI company, with a specific focus and core competence in imaging and optical networking technologies. The company combines valuable resources from Fujitsu and Panasonic, such as engineering expertise, a rich portfolio of intellectual property and broad customer bases. Headquartered in Yokohama, Socionext has seven offices in Japan, including Kyoto and other areas, and 15 international offices in Asia, the United States, and Europe.

Socionext has established a truly global organization. Each of the eight business units is based in the ideal location for the team to run its design, development and sales activities. Six business units are based in Japan, and one each in United States and in Europe. As a leading open innovation company, Socionext will offer optimum products and solutions by cooperating extensively with customers, suppliers and business partners.

"I am delighted to announce that Socionext Inc. starts operations today," said Yasuo Nishiguchi, the company's Chairman and CEO. "Socionext has gathered a number of world-class engineers with the track record of providing many products, and the goal of contributing to society by creating new value. While we aim to fully leverage the technical expertise and customer base that we have accumulated over many years, we will also implement a new business system, which allows us to boldly make a change, leading us to profitability and sustainable growth. I am confident that, by sharing common goals and working together to meet the new challenges, this newly assembled team will be able to create a company trusted by partners worldwide, and one that everybody is proud to work for."

Socionext Corporate Overview

Head Office 2-10-23, Shin-Yokohama, Kohoku-ku, Yokohama, Kanagawa, Japan

Capital 30.2 Billion Yen

Business Design, development and sales of System LSI and related products
Description and services

Employees Approx. 2,600 (as of March 2015)

Shareholders (Ratio of the voting rights)
Development Bank of Japan Inc. 40%
Fujitsu Limited 40%
Panasonic Corporation 20%

Executives Yasuo Nishiguchi, Ph.D Chairman & CEO
Amane Inoue President & COO
Kenji Ushida Senior Executive Director & CFO
Yoshifumi Okamoto Senior Executive Director & CTO
Tsutomu Nozaki Senior Executive Director
Tom Miyake Senior Executive Director
Hideo Oishi Executive Director (External)
Masahiro Koezuka Executive Director (External)
Yoshiyuki Miyabe Executive Director (External)
Minoru Kobayashi Audit & Supervisory Board Member
Tatsuo Otani Audit & Supervisory Board Member

News Source: Fujitsu
Author: Srinivasa Reddy N
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