Japan’s Fujitsu General is transferring its power modules business to India’s L&T Semiconductor Technologies Limited (LTSCT) for about 2 billion yen (~₹118.34 crore), as the former’s Fujitsu General Electronics subsidiary consolidates its portfolio.

Fujitsu will transfer the production facilities related to the power modules business to Bengaluru-headquartered Kaynes Semicon, which will, in turn, manufacture these products for LTSCT.

The company said it is transferring the business as part of a “portfolio transformation of the electronic device business in line with strengthening the company group’s business foundations”. Consequently, Fujitsu said it will record an extraordinary gain of 2 billion yen in the first consolidated fiscal quarter of 2025, ending March 31.

As per media reports in 2024, Larsen & Toubro has invested more than $300 million to create its fabless chip company, LTSCT, joining efforts by other Indian conglomerates in the booming semiconductor industry.

AZB & Partners advised L&T Semiconductor Technologies Limited in the Acquisition. The AZB & Partners team was led by partners Aarthi Sivanandh and Bhavana Alexander.