Follow Us

We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message

Fujitsu to withdraw from London Stock Exchange in bid to cut costs

The delisting is set to be completed by the end of January 2014

Article comments

Japanese technology behemoth Fujitsu is to cease trading its shares on the London Stock Exchange in a bid to cut costs.

The firm applied for the delisting of its shares yesterday morning, adding that it will continue to list on Japanese markets in Tokyo and Nagoya.

“Fujitsu has decided to apply for the delisting to reduce the administrative work and costs associated with being a listed company on the LSE,” the company said in a statement.

“This delisting is not expected to have a material impact on shareholders and investors due to the low trading volumes of the Shares and EDR (European Depositary Receipts) taking place on the LSE.”

Fujitsu anticipates that the delisting will be finished by the end of January 2014.

Fujitsu listed on LSE in 1981 when the world was a very different place, according to TechMarketView research director Peter Roe.

“Around that time there was a spate of listings by Japanese companies on the LSE and NYSE, as they were rapidly internationalising their operations,” he said. “Japanese investment banks were keen to list the large industrial companies on international exchanges so that they could access more capital, give them a local stockmarket presence (in markets that were still very geographically siloed) and also to help the banks themselves in those geographies.

“People can now invest in the Japanese market very easily and Fujitsu can access the world's capital markets from Shimbashi. There is no need from a financing point of view to have a listing on the LSE and it is unlikely to make any difference at all to customers nowadays. The world has moved on."

The move follows a tough year for Fujitsu, which has seen losses in sales and and declining results.

In the UK, it ruled itself out of potentially lucrative Broadband Delivery UK contracts with local authorities after it accused the process of being biased in BT's favour. 

The firm also announced yesterday that it would be liquidating its US subsidiary Fujitsu Management Services of America, which used to be behind PBX phone systems, computer peripherals and hard disks before focusing solely on scanners as its only hardware product.

Fujitsu said it will transfer the scanner sales business to PFU Limited, a consolidated subsidiary based in Japan, in order to create a more agile management structure for the scanner business. 

The liquidation is expected to complete by March 2015.



Share:

More from Techworld

More relevant IT news

Comments



Send to a friend

Email this article to a friend or colleague:

PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.

Techworld White Papers

Choose – and Choose Wisely – the Right MSP for Your SMB

End users need a technology partner that provides transparency, enables productivity, delivers...

Download Whitepaper

10 Effective Habits of Indispensable IT Departments

It’s no secret that responsibilities are growing while budgets continue to shrink. Download this...

Download Whitepaper

Gartner Magic Quadrant for Enterprise Information Archiving

Enterprise information archiving is contributing to organisational needs for e-discovery and...

Download Whitepaper

Advancing the state of virtualised backups

Dell Software’s vRanger is a veteran of the virtualisation specific backup market. It was the...

Download Whitepaper

Techworld UK - Technology - Business

Innovation, productivity, agility and profit

Watch this on demand webinar which explores IT innovation, managed print services and business agility.

Techworld Mobile Site

Access Techworld's content on the move

Get the latest news, product reviews and downloads on your mobile device with Techworld's mobile site.

Find out more...

From Wow to How : Making mobile and cloud work for you

On demand Biztech Briefing - Learn how to effectively deliver mobile work styles and cloud services together.

Watch now...

Site Map

* *