Fujitsu Limited (the "Company") resolved to issue and sell to Citigroup Global Markets Limited JPY100 billion Convertible Bonds due 2010 (bonds with stock acquisition rights, tenkanshasaigata shinkabu yoyakuken-tsuki shasai) (the "2010 Bonds") and JPY100 billion Convertible Bonds due 2011 (bonds with stock acquisition rights, tenkanshasaigata shinkabu yoyakuken-tsuki shasai) (the "2011 Bonds" and together with the 2010 Bonds, the "Bonds").
The Bonds will be issued in bearer form in the denomination of ¥100,000,000 each. The conversion price of the Bonds will be JPY900 per share, subject to adjustment upon the occurrence of certain events. The maturity date of the 2010 Bonds will be 31 May 2010, and the maturity date of the 2011 Bonds will be 31 May 2011.
A primary purpose of the issue of the Bonds is the refinancing of the JPY250 billion Zero Coupon Convertible Bonds due 2009 issued by the Company in 2002 (International Security Identification Number (ISIN): XS0147563455 and Common Code: 014756345) (the "Existing Bonds"). Conversion rights in relation to the Bonds will be exercisable the day immediately after the maturity date of the Existing Bonds. Up to (and including) this date, all or some of the Bonds may be redeemed at any time at the option of the Company. The Company intends to redeem the Bonds in proportion to the amount of Existing Bonds that are converted into shares before the maturity date of the Existing Bonds.
The Bonds have been purchased by Citigroup Global Markets Limited, and the Company has been advised by Citigroup Global Markets Limited that the purchase will be funded within its group.
Closing of the issue of the Bonds is expected to occur on or around 31 August 2007.-Fujitsu
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