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  • Fujitsu to Invest 2.4 Bln Yen in WebTV's Japan Unit
  • March 4, 1998 (TOKYO) -- Fujitsu Ltd. said Feb. 24 that it will invest in WebTV Networks K.K., a wholly owned subsidiary of WebTV Networks Inc. of the United States, by purchasing a stake valued at 2.4 billion yen (US$19.0 million) in the Internet broadcasting company.
    Capitalized at 1.2 billion yen (US$9.5 million), WebTV Networks has issued a total of 24,000 shares. Before the end of this year, the firm will increase its capital by issuing 6,575 shares, which will be allotted to Fujitsu. Japan's largest computer maker will purchase the shares for 1.8 billion yen (US$14.3 million).

    In early 1999, WebTV Networks will issue an additional 2,200 shares. Both Fujitsu and WebTV Networks' parent company will buy 1,100 shares, for a total of 600 million yen (US$4.5 million).

    As a result, WebTV Networks' capital will be expanded to 4.2 billion yen (US$33.3 million), with the parent company holding 75 percent, and Fujitsu owning 25 percent.

    Fujitsu already has started developing WebTV Networks' operation center and the Internet-fee charging system.



    (Hi-Tech News Center)







    Asia's Largest IT Show Reaching Over 300,000 Corporate Buyers and IT Professionals

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    Updated: Tue Mar 3 17:26:29 1998