Fujitsu, Sumitomo Electric Launch EudynaFujitsu, Sumitomo Electric Launch Eudyna

TOKYO -- The operations of Fujitsu Quantum Devices Limited (TSE: 6702) and the electronic devices division of Sumitomo Electric Industries, Ltd. (TSE: 5802) were today consolidated into a new joint venture company, Eudyna Devices, Inc. The new company, which will engage in everything from development to manufacturing and sales of a wide variety of compound semiconductor devices, aims to win the trust of customers worldwide and quickly establish itself as the world's top compound semiconductor maker.

The launch of Eudyna follows upon the basic agreement between Fujitsu Limited and Sumitomo Electric Industries, Ltd., announced last December, to consolidate their compound semiconductor businesses into a new 50-50 joint venture that would seek further growth and expansion. The name "Eudyna" was coined by the parent companies to combine the notions of breadth (from the first syllable "Eu," as used in words like "Euro" or "Eurasia") and "dynamism". This reflects their strong intention to have the new company boldly move into new areas not bound by conventional business practices or ways of thinking, and to develop its business in a more dynamic fashion, responding with greater speed and flexibility to ever-changing markets.

Commercial applications for compound semiconductor devices are continuing to expand from traditional markets, such as telecommunications infrastructure equipment like radio link FETs and mobile base stations, into new markets with high growth prospects, such as mobile handsets and digital home appliances, as well as into enterprise segments like wireless LANs. Eudyna will work to further build its presence and competitiveness in microwave devices and other compound semiconductor markets by providing products with superior performance and cost-competitiveness.

Fujitsu Ltd.

Sumitomo Electric Industries Ltd.