Fujitsu Limited Yonago Fujitsu Ltd.

Tokyo, March 22, 2002 - Fujitsu Limited and wholly owned manufacturing affiliate Yonago Fujitsu Ltd. today announced a reorganization of Fujitsu's liquid crystal display (LCD) business. Reflecting a comprehensive reassessment of the business in conjunction with Fujitsu's overall corporate restructuring initiative announced last August, the reorganization is intended to enhance responsiveness to the fast-changing market environment and strengthen business performance through speedier decision-making and boosting of operational efficiency.

Specifically, in line with the relevant provisions of Japan's Commercial Code, Fujitsu Limited's LCD operations will be spun off and consolidated with those of Yonago Fujitsu in a new independent operating company, to be called Fujitsu Display Technologies Corporation. Scheduled to begin operations June 1, 2002, the new company will leverage its integrated LCD development, manufacturing and sales operations to pursue greater efficiencies, develop new business opportunities and unleash further growth potential.

In an effort to improve profitability, the reorganization will be accompanied by an accelerated shift to higher value-added product areas, in particular, large-screen, high-resolution LCDs with Fujitsu's proprietary MVA (*1) technology and other innovations at their core. In addition, striving for wider proliferation and standardization of Fujitsu's advanced technology, Fujitsu Display Technologies will seek to open up new markets in advanced applications and expand its engineering service business by providing a wide range of know-how and technical support. Further, taking into account recent changes in the global LCD industry and to enhance its ability to respond flexibly to changes in the business environment, the new company will actively pursue tie-ups with other companies that can supplement its own capabilities, as well as strengthen and stabilize its operational base.

Seizing on the reorganization as an exciting opportunity, Fujitsu Display Technologies will pursue a vibrant independent growth strategy by adopting a solution provider business model that capitalizes on its cutting-edge LCD development and design capabilities.

Fujitsu Display Technologies Corporation at a Glance

Proposed start-up	:	June 1, 2002
Headquarters	:	Kawasaki, Japan
Operations	:	Development, manufacturing and sales of liquid crystal displays
Capitalization	:	450 million yen
Ownership	:	Fujitsu Limited 100%

Notes

*1:

Fujitsu's MVA (Multi-domain Vertical Alignment) technology provides superior image quality, viewing angle, response time, and ease of manufacture for large-size LCDs.

All company/product names mentioned may be trademarks or registered trademarks of their respective holders and are used for identification purpose only.

About Fujitsu
Fujitsu is a leading provider of Internet-focused information technology solutions for the global marketplace. Its pace-setting technologies, best-in-class computing and telecommunications platforms, and worldwide corps of systems and services experts make it uniquely positioned to unleash the infinite possibilities of the Internet to help its customers succeed. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 5.48 trillion yen for the fiscal year ended March 31,2001. Internet: http://www.fujitsu.com/

[Press Contacts] Naomi Ogawa, Robert Pomeroy Fujitsu Limited, Public Relations Tel: +81-3-3215-5259 (Tokyo) Fax: +81-3-3216-9365 Press Inquiries

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