Fujitsu Ltd is planning to divest its billion dollar stake in air-conditioning manufacturing unit Fujitsu General Ltd to help streamline operations.
Fujitsu CEO, Takahito Tokita, told Bloomberg that Fujitsu wouldn’t consider a partial investment.
Fujitsu General shares are worth an estimated $1.1 billion.
“We have set certain criteria for the sale, and aim to sell 100 per cent of the 42 per cent stake. We won’t do it half way,” Tokita told Bloomberg.
The Japanese IT firm plans to focus on information technology.
When Fujitsu reported quarterly results in October, the company said it was considering the sale of holdings in non-core affiliates, including Fujitsu General, battery manufacturer FDK Corporation and Shinko Electric Industries Co., which makes packaging materials for semiconductors.