On October 27, 2014, CCI approved the proposed transaction between Fujitsu Limited (‘Fujitsu’),
Panasonic Corporation and Development Bank of Japan Inc. (‘DBJ’). The proposed transaction
involved the creation of a joint venture company by Fujitsu, Panasonic Corporation and DBJ
engaged in system large-scale integration (‘LSI’) design and development of certain logic integrated circuit (‘Logic IC’) products.

CCI noted that Fujitsu is a global information and communication technology company and
offers a wide range of products, solutions and services including servers and storage systems,
telecommunication and network infrastructure products. It further noted that Panasonic Corporation
is a global company and engaged in the development and engineering of electronic
technologies and solutions for mobility and personal applications. DBJ is an enterprise owned by
the Govt. of Japan and provides loan services to meet a range of funding requirements.

CCI observed that Panasonic Corporation and Fujitsu Semiconductor Limited (‘FSL’) had certain horizontal overlaps in the global market with regard to certain types of application-specific

standard products and application-specific Logic ICs which were to be contributed to the
JV as a part of the proposed transaction. However, CCI also noted that neither Fujitsu nor FSL
had had any sales of Logic IC products in India in the last two financial years. Accordingly, CCI
observed that there were no horizontal overlaps or vertical relationship between Fujitsu, Panasonic
Corporation and DBJ.

Accordingly, CCI found that the transaction was unlikely to cause an AAEC in the market and
approved the transaction.

A Z B & Partners represented all three parties in the transaction

For further information, please contact:

Zia Mody, AZB & Partners
[email protected]

Abhijit Joshi, AZB & Partners 
[email protected]

Shuva Mandal, AZB & Partners 
[email protected]

Samir Gandhi, AZB & Partners
[email protected]

Percy Billimoria, AZB & Partners 
[email protected]

Aditya Bhat, AZB & Partners 
[email protected]