Fujitsu General to sell power modules business to L&T Semiconductor for 2 billion yen
Fujitsu General Ltd. has announced the transfer of its power modules business, operated under its consolidated subsidiary Fujitsu General Electronics Ltd. (FGEL), to India-based L&T Semiconductor Technologies Ltd. for approximately 2 billion yen. This strategic move is part of Fujitsu General's broader portfolio transformation within its electronic device segment.
In a board meeting held on June 9, 2025, the company approved the business transfer agreement, which also includes the handover of associated production facilities to Kaynes Semicon Private Limited, one of L&T Semiconductor's contract manufacturers. The business transfer is scheduled to be completed by June 23, 2025, pending regulatory approvals under Japan's Foreign Exchange and Foreign Trade Act.
Extraordinary gain in Q1 FY26
The company has projected that it will record an extraordinary gain of about 2 billion yen in the first quarter of the fiscal year ending March 2026 due to this transfer. The sale aligns with Fujitsu General's intent to streamline its Tech Solution Business and reinforce the group's overall business foundations.
Details of the entities involved: Fujitsu General Electronics Ltd. (FGEL) : Based in Iwate, Japan, FGEL specializes in the development and manufacture of electronic devices and communication equipment.
L&T Semiconductor Technologies Ltd. (LTSCT) : A wholly owned subsidiary of Larsen & Toubro Ltd., headquartered in Bengaluru, India, focusing on semiconductor product development and sales.
Kaynes Semicon Private Ltd.: A contract manufacturer based in Mysore, India, and a subsidiary of Kaynes Technology India Ltd.
Both LTSCT and Kaynes Semicon have no prior capital, personnel, or business relationships with Fujitsu General Ltd., and are not considered related parties.
This transaction signals increased cross-border collaboration in the semiconductor sector and marks a strategic India-Japan industrial linkage.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Post
an hour ago
- New York Post
Air Canada cabin staff go on strike, grounding hundreds of flights
Air Canada's unionized flight attendants walked off the job early on Saturday morning after contract talks with the country's largest carrier stalled, in a move that could disrupt travel plans for more than 100,000 passengers. The union representing more than 10,000 Air Canada flight attendants confirmed the action in a social media post at around 1:00 a.m. in the first strike by cabin crew since 1985. Attendants are currently paid when the plane is moving and the union was seeking to also be compensated for time on the ground between flights and helping passengers board. 5 Air Canada union activists interrupt a press conference by airline executives on Aug. 14, 2025. REUTERS Montreal-based Air Canada, which is expected to respond quickly by locking out the workers, has said it anticipated canceling 500 flights by the end of Friday during the busy summer travel season. It expected around 100,000 people to be affected on Friday alone. Flight attendants are likely on Saturday to picket at major Canadian airports, where passengers were already trying to secure new bookings earlier in the week, as the carrier gradually wound down operations. Passenger Freddy Ramos, 24, said on Friday at Canada's largest airport in Toronto that his earlier flight was canceled due to the labor dispute and he had been rebooked by Air Canada to a different destination. 'Probably 10 minutes prior to boarding, our gate got changed and then it was canceled and then it was delayed and then it was canceled again,' he said. 5 Air Canada planes sit on the tarmac at Pearson International Airport in Toronto, Canada on Aug. 14, 2025. Getty Images 5 Air Canada flight attendants walk through the terminal of Montreal-Pierre Elliott Trudeau International Airport in Dorval, Quebec on Aug. 15, 2025. AP Air Canada and its low-cost affiliate Air Canada Rouge normally carry about 130,000 customers a day. Air Canada is also the foreign carrier with the largest number of flights to the US. While the dispute has generated support from passengers on social media for the flight attendants, Canadian businesses reeling from a trade dispute with the United States urged the federal government to impose binding arbitration on both sides, which would end the strike. Air Canada has asked the minority Liberal government of Prime Minister Mark Carney to order both sides into binding arbitration although the Canadian Union of Public Employees, which represents the attendants, said it opposed the move. The Canada Labour Code gives Jobs Minister Patty Hajdu the right to ask the country's Industrial Relations Board to impose binding arbitration in the interests of protecting the economy. Hajdu has repeatedly urged the two sides, which are not bargaining, to return to the table. The union has said Air Canada offered to begin compensating flight attendants for some work that is now unpaid but only at 50% of their hourly rate. 5 Flight attendants are likely on Saturday to picket at major Canadian airports, where passengers were already trying to secure new bookings earlier in the week, as the carrier gradually wound down operations. AP 5 A passenger looks at the canceled and delayed Air Canada flights on a departure board at Montreal-Pierre Elliott Trudeau International Airport. AP The carrier had offered a 38% increase in total compensation for flight attendants over four years, with a 25% raise in the first year, which the union said was insufficient. In a note to clients on Friday, analysts at financial services firm TD Cowen urged the carrier to 'extend an olive branch to end the impasse,' adding that investors are worried that any cost savings on labor are outweighed by lost earnings in the airline's most important quarter. 'We think it would be best for AC to achieve labor peace,' the note said. 'Not budging on negotiations risks being a Pyrrhic victory.'
Entrepreneur
2 hours ago
- Entrepreneur
Smart Mobility Maker
Since its inception, Alt Mobility has experienced rapid growth, deploying over 13,000 EVs and operating in more than 30 cities. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. When Dev Arora co-founded Alt Mobility in 2022, he had a clear goal in mind: to make electric mobility more accessible and practical for India's expanding transportation landscape. With his experience in startup innovation and a keen sense for market opportunities, Arora recognised that one of the biggest hurdles to EV adoption wasn't the technology—it was financing. "Traditional lenders weren't built for the EV revolution," Arora, Co-founder and CEO of Alt Mobility, explained. "We needed to develop a new model, one that caters to both businesses and everyday drivers." This new approach led to the creation of Alt Mobility—an EV leasing and asset management platform that goes beyond just providing vehicles. The startup has built a comprehensive ecosystem that includes maintenance, servicing, roadside assistance, and access to an extensive charging and service network. Since its inception, Alt Mobility has experienced rapid growth, deploying over 13,000 EVs and operating in more than 30 cities. With an asset under management (AUM) exceeding INR 250 crore, it now caters to both commercial fleets and individual drivers, offering flexible and cost-effective leasing solutions. "For many people, purchasing an EV feels risky," Arora noted. "We eliminate that uncertainty by providing all-inclusive plans that cover service, warranty, insurance, and even 24/7 support." At the core of Alt's offerings is its proprietary FleetOS platform, which utilises AI, IoT, and telematics to monitor vehicle health, track usage, and ensure proactive maintenance. This not only prolongs the life of the vehicles but also maximises uptime—essential for businesses that depend on having vehicles ready for revenue generation. What sets Alt Mobility apart is its Drive-to-Own model, which enables drivers to gradually shift from leasing to ownership. This approach has been particularly beneficial for individuals who lack access to traditional financing, fostering economic empowerment and long-term asset creation. "Ownership is a powerful thing, especially for those working to build their livelihoods," Arora emphasised. "We aimed to create a pathway that makes that possible." Scaling the business definitely came with its challenges. Getting customers on board with a new approach to owning and managing vehicles meant we had to focus on education and building trust. "Alt tackled this by blending innovation with robust support systems and forming partnerships throughout the EV value chain—from manufacturers to charging networks," he explained. Looking to the future, Dev sees opportunities to branch out into four-wheeled cargo vehicles and electric buses, strengthening their foothold in key markets across India and playing a crucial role in the nation's shift towards clean mobility. "The future of transportation in India is electric. We're committed to fostering a cleaner, smarter, and more sustainable future for India's mobility landscape," he added. Facts:
Business Insider
3 hours ago
- Business Insider
Kyivstar Hopes to Shine in New York as Ukraine Peace Talks Begin
Shares in Ukrainian mobile operator Kyivstar will start trading in New York today hoping that peace talks to end the devastating war in the country will significantly boost the company's value. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Chief executive officer Oleksandr Komarov said ahead of the Nasdaq listing that the summit between President Trump and Russian leader Vladimir Putin in Alaska, scheduled for August 15 th, would help drive investment into Ukraine if an end to the three-year war is found. Invest in Recovery 'We will be the best asset for the international investment community to invest in Ukraine, to invest in the Ukrainian recovery, to invest in the Ukrainian support,' Komarov said. Komarov said the company chose Nasdaq, where its Dubai-based parent VEON (VEON) is also listed, over London or Warsaw because it is even more important to 'strengthen the link between the United States and Ukraine rather than between Ukraine and Europe.' VEON shares were up 1.6% in pre-market trading. The company has also strengthened its U.S. ties during the conflict, appointing former U.S. Secretary of State Mike Pompeo to its board and signing a deal with Elon Musk's Starlink for satellite services. Kyivstar, which has been given a pro forma valuation of $2.3 billion, carried out the listing by merging with fintech entrepreneur Betsy Cohen's Cohen Circle special purpose acquisition company (SPAC). The company raised $178 million, confirming earlier reports that it expected up to $200 million. VEON will retain a majority stake in the mobile operator. People's IPO The company has previously stated that it has had extremely strong support for the Kyivstar listing from U.S. authorities, Ukraine and the European Union. Indeed, it has described the listing as 'the people's IPO', hoping that investors around the world would show their support for Ukraine. Kyivstar is the market-leading mobile operator in Ukraine with 24 million subscribers. Analysts agreed that the narrative around the deal was built around Ukraine's postwar reconstruction and digital infrastructure's role in that recovery. However, investors will also likely question the strength of that recovery and the likelihood of any peace deal between Ukraine and Russia holding over the long-term.
