Fujitsu General Limited, a manufacturer of appliances and electronics, is set to transfer the power modules business of its consolidated subsidiary, Fujitsu General Electronics Limited (FGEL), to L&T Semiconductor Technologies Limited (LTSCT). The transfer, valued at approximately JPY 2 billion, is scheduled for June 23, 2025. As part of the arrangement, production facilities related to the business will be transferred to Kaynes Semicon Private Limited, a manufacturing contractor for LTSCT.
The company expects to record an extraordinary gain of approximately JPY 2 billion from the transfer in the first quarter of its consolidated fiscal year ending March 2026. The transfer is part of Fujitsu General’s broader portfolio transformation of its Electronic Device Business to strengthen the business foundation of the group.
Fujitsu General Electronics Limited, based in Ichinoseki, Iwate, Japan, is involved in the development, manufacture, and sale of electronic devices, as well as manufacturing equipment for information and communication systems. The company has a capital of JPY 800 million.
The transferee, L&T Semiconductor Technologies Limited, is headquartered in Bengaluru, Karnataka, India. LTSCT is engaged in the development, manufacture, and sale of semiconductor products and is a wholly owned subsidiary of Larsen & Toubro Limited. The company was established in November 2023 and has a capital of INR 3.31 billion.
The associated production facilities will be transferred to Kaynes Semicon Private Limited, based in Mysore, Karnataka, India. Kaynes Semicon, a wholly owned subsidiary of Kaynes Technology India Limited, provides contract manufacturing of electronic devices and was established in 1988 with a capital of INR 2.5 million.
The transfer is subject to regulatory clearance under the Foreign Exchange and Foreign Trade Act.
Fujitsu General Limited is a Japan-based company engaged in the manufacture and sale of air conditioners, electronic devices, and information and communication systems. The company operates in multiple sectors, focusing on technology solutions and manufacturing.