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Fab restructuring at Fujitsu generates operating loss
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The restructuring of Fujitsu Microelectronics, which first started in March 2008, has resulted in a 20 billion yen loss that will be recorded by Fujitsu in its full-year fiscal 2009 results, ending in March, 2010. The semiconductor downturn in the second-half of 2008 was cited as a contributing factor in the losses. Fujitsu Microelectronics has been implementing reforms at its LSI wafer processing facilities at the Iwate Plant and Aizu-Wakamatsu Plant, as well as at Fujitsu Semiconductor Technology, Inc. in Japan. As part of these initiatives, Fujitsu Microelectronics took measures to reassign some of its employees to other operations within the Fujitsu Group.
However, extra severance benefits and other costs related to employee transfers and resignations have been recognized as a loss in the financial results for the second quarter of fiscal 2009.