Tuesday, November 04, 2014: Competition Commission Of India (CCI), the fair trade regulator in India, has given nod to the proposed joint venture between three Japanese firms – Fujitsu, Panasonic and Development Bank of Japan (DBJ). The deal is said not to have any anti-competition concern in India.
India has already the presence of Fujitsu and Panasonic but so far, there was no existence of DBJ in India. The deal says the joint venture will focus on “large-scale integration design” and also developing “logic integrated circuit products”. Earlier this year a pact was signed by Fujitsu, Fujitsu Semiconductor Ltd (FSL) and Panasonic in this regard and also a financing agreement was entered between Fujitsu, FSL, Panasonic and Development Bank of Japan.
CCI says in its order that the proposed JV is not having any possibility as of now to create any negative impact in the Indian market. Fujitsu is a global IT company which offers a wide variety of products and services like servers, personal computers, mobile phones and more. Its subsidiary FSL is related to the semiconductor business and Panasonic is involved in development and engineering of electronic components.
