
Japan's Fujitsu General to transfer power modules biz to India's LTSCT for ₹118.34-crore
NEW DELHI: Japan's
Fujitsu General
is transferring its power modules business to India's
L&T Semiconductor Technologies Limited
(LTSCT) for about 2 billion yen (~₹118.34 crore), as the former's Fujitsu General Electronics subsidiary consolidates its portfolio.
Fujitsu will transfer the production facilities related to the power modules business to Bengaluru-headquartered
Kaynes Semicon
, which will, in turn, manufacture these products for LTSCT.
'Fujitsu General Limited…resolved at its board of directors meeting held on June 9, 2025, to transfer the (power modules) business to
L&T
Semiconductor Technologies Limited…and transfer the production facilities related to the business to Kaynes Semicon Private Limited, one of LTSCT's manufacturing contractors,' the Japanese firm said in a statement Monday.
The company said it is transferring the business as part of a "portfolio transformation of the electronic device business in line with strengthening the company group's business foundations".
Consequently, Fujitsu said it will record an extraordinary gain of 2 billion yen in the first consolidated fiscal quarter of 2025, ending March 31.
As per media reports in 2024,
Larsen & Toubro
has invested more than $300 million to create its fabless chip company, LTSCT, joining efforts by other Indian conglomerates in the booming semiconductor industry.
News agency PTI had reported that L&T chip unit expects to commence manufacturing of in-house designed products in the next two years.
Prime Minister Narendra Modi's government in September last year approved Kaynes' proposal to set-up a semiconductor unit in Sanand, Gujarat, with an investment of ₹3,300 crore. Once operationalised, the plant will have a capacity of 60 lakh chips per day.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Economic Times
30 minutes ago
- Economic Times
Financial sector regulators to work on universal KYC
Financial sector regulators, led by the RBI, are developing a universal KYC framework with the CKYCR to streamline verification processes. Nirmala Sitharaman urged regulators to ensure seamless KYC experiences for citizens and expedite refunds of unclaimed amounts through district-level camps. The FSDC also discussed strengthening cybersecurity and implementing budget announcements related to KYC simplification for NRIs, PIOs, and OCIs. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: Financial sector regulators, including the Reserve Bank of India , will look at a universal know your customer (KYC) framework and develop systems with the Central Know Your Customer Registry (CKYCR) to promote the inter-usability of records and avoid multiple minister Nirmala Sitharaman in a meeting of the Financial Stability and Development Council (FSDC) in Mumbai on Tuesday urged the financial sector regulators to take proactive steps to ensure that citizens have a seamless experience with the KYC processes across the financial a statement, the finance ministry said the FSDC also considered strengthening the cyber resilience framework of the Indian financial sector through a financial sector-specific cybersecurity FSDC also discussed issues relating to formulating a strategy for implementing the past decisions and the budget announcements, which included prescribing common KYC norms, simplification and digitalisation of the KYC process, including digital onboarding for non-resident Indians (NRIs), PIOs and OCIs in the Indian securities FSDC has representation from the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India (Irdai), the Securities and Exchange Board of India (Sebi), the Pension Fund Regulatory and Development Authority (PFRDA) and officials from the finance and corporate affairs urged the regulators and departments to expedite the process of refund to rightful owners of unclaimed amounts by holding special district-level also emphasised that interest of common citizens be kept in mind and therefore expeditiously refund the claims of the rightful claimants, the statement unclaimed amounts comprise deposits in banks, unclaimed shares and dividends managed by IEPFA and unclaimed insurance and pension funds with Irdai and PFRDA, drive is to be conducted in coordination with RBI, Sebi, MCA, PFRDA and Irdai along with banks, pension agencies and insurance finance ministry statement noted that the FSDC also deliberated on the emerging trends from the domestic and global macro-financial situation and stressed the need to be vigilant."The council recognised the need for proactive efforts to mitigate potential risks to financial stability while adopting adequate safeguards for the financial system's resilience," it said.


Time of India
an hour ago
- Time of India
After SC order, MMRDA seeks price bids from L&T on projects
Mumbai: Nearly two weeks after MMRDA informed Supreme Court that it had "in public interest" scrapped its tenders for the Thane-Ghodbunder-Bhayander twin tunnel and elevated road projects—collectively estimated at Rs 14,000 crore—the planning authority has sought detailed financial estimates from infrastructure giant Larsen & Toubro (L&T). Tired of too many ads? go ad free now The projects include an underground road tunnel from Gaimukh to Fountain Hotel Junction on Ghodbunder Road and an elevated road from Fountain Hotel Junction to Bhayander. Sources said MMRDA sent a letter on June 10 asking L&T to submit detailed financial estimates/price bids, rate analysis and justification and related documents in seven working days "to ensure completeness of the bid records" and "further transparency and public interest". The tender process for the projects had landed in court after MMRDA disqualified L&T from the technical bids round by declaring it non-responsive, saying it had failed to submit a mandatory affidavit. The affidavit required bidders to declare that none of their bridges had collapsed within two years of completion. Megha Engineering and Infrastructure, a prominent purchaser of electoral bonds prior to being scrapped by the apex court, was declared the successful bidder. L&T then moved Bombay HC, alleging lack of clarity over the rejection and the decision not to open its financial bids. HC granted a temporary stay on the opening of price bids on May 13 but dismissed L&T's petitions on May 20, observing "material suppression" by the company. The court upheld MMRDA's tendering process. L&T approached SC, which expressed surprise that technical bids of a firm that had built Central Vista and Atal Setu had been rejected. Tired of too many ads? go ad free now The company disclosed during the proceedings that its quoted prices were significantly lower—Rs 6,498 crore for the tunnel and Rs 5,554 crore for the elevated road. SC was informed that the difference was over Rs 3,100 crore between the lowest bidder and L&T. The bench asked MMRDA how L&T could be technically disqualified from the projects in that case and directed it to check with the state govt if it was willing to re-tender the projects. SC disposed of L&T's petition after MMRDA agreed to re-tender the projects. MMRDA has since maintained that both SC and HC had upheld its submission, but that in deference to the courts and in line with its institutional commitment to transparency, it was decided that both tenders would be scrapped and a fresh tender process would be initiated. In its June 10 letter, it said it had decided to voluntarily scrap the tenders and revise cost estimates in the "spirit of transparency and larger public interest. "


India Today
an hour ago
- India Today
Crippled by Op Sindoor strikes, Pak eyeing Germany for air defence upgrades
Rattled by the devastating impact of BrahMos missile strikes during India's Operation Sindoor, Pakistan is now exploring the procurement of a new air defence system to counter future to sources, Islamabad is actively considering the purchase of the IRIS-T SLM air defence system from Germany in a bid to strengthen its aerial shield against India's supersonic cruise missiles, particularly the move comes after Pakistan's existing Chinese-origin air defence systems, including the HQ-9 and HQ-16, failed to detect or intercept Indian missile attacks during the operation. In contrast, the IRIS-T SLM system has demonstrated significant effectiveness in recent combat situations. In Ukraine, where several units were redirected from Egypt due to the ongoing war, the German-made system has reportedly shot down over 60 aerial targets since its deployment last it was said to have successfully intercepted Russian Oniks missiles, which are similar in profile to India's by Diehl Defence, the IRIS-T SLM is known for its modular and compact architecture. Each unit, estimated to cost around USD 200 million, includes radar, an operations centre, and launchers, all mounted on a 20-foot interest in the system highlights its urgent push to rebuild and upgrade its air defence network, particularly after key air bases were damaged by Indian missiles during Operation grappling with a severe economic crisis, Pakistan has raised its defence budget by 18 per cent this year while simultaneously scrapping domestic development projects valued at 1,000 billion Pakistani the past month, the country has secured financial assistance totalling USD 1.8 billion from the International Monetary Fund (IMF) and the Asian Development Bank (ADB) to address its fiscal Germany's Diehl Defence, the maker of the IRIS-T SLM, is also involved in a major Indian defence initiative. The company is collaborating with Thyssenkrupp Marine Systems on Project 75I, a Rs 70,000 crore programme to build six submarines for the Indian Indian-German collaboration also includes the development of the Interactive Defence and Attack System (IDAS), which will be integrated into the India's Reliance Defence has announced a partnership to manufacture Vulcano 155mm precision-guided artillery shells domestically. The initiative is expected to generate revenues of approximately Rs 10,000 crore, with over 50 per cent of the components to be produced indigenously.