Fujitsu Ld
02 February 2005


                                                                 Fujitsu Limited


  Fujitsu Announces Agreement with Hitachi on Plasma Display Panel Business


Tokyo, February 2, 2005-Fujitsu Limited today announced that it has reached a
basic agreement with Hitachi, Ltd. regarding Fujitsu's transfer to Hitachi of
30.1% of the issued shares in their joint venture company, Fujitsu Hitachi
Plasma Display Limited (FHP), along with related plasma display panel (PDP)
intellectual property rights. The companies intend to sign a formal agreement
finalizing the arrangements by the end of March, at which time the specified
intellectual property rights will be transferred to Hitachi. After providing
financial support aimed at eliminating FHP's excessive debt, the companies plan
to complete the transfer of shares, following which FHP will become a
consolidated subsidiary of Hitachi.


Fujitsu pioneered PDP research in 1968 and over the years has consistently been
at the vanguard of technological advances - such as the development of the
world's first 21-inch color PDP in 1992 - and their commercialization, in the
process garnering numerous patents in fundamental PDP technologies. Leveraging
that technological foundation to develop its business, FHP has since its
establishment in 1999 continued to advance the frontiers of PDP technology,
including development and mass production of the world's first high-definition
PDPs (42-inch/37-inch/32-inch), as a PDP industry leader and driving force in
the market.


Going forward, although the market for PDPs is expected to greatly expand,
competition in the flat-screen television market has become severe, and it will
be necessary to develop and manufacture panels offering even greater cost
performance and higher added value. The agreement reached by Fujitsu and Hitachi
reflects their recognition of these market dynamics and the belief that
transferring management control of FHP to longtime partner and plasma television
leader Hitachi will enable the necessary restructuring and strengthening of
FHP's operations under a new business model that will allow FHP to utilize
Hitachi's know-how to an even greater extent than before.


Fujitsu's business centers on providing customers with comprehensive solutions
comprising highly reliable, high-performance products and services based on
powerful information technologies. The agreement announced today is expected to
help enable Fujitsu to further consolidate and effectively allocate its
resources in order to strengthen its business.





Supplementary Information


1. About FHP

     Trade name:            Fujitsu Hitachi Plasma Display Limited
     President:             Yoichi Morimoto
     Headquarters:          Kawasaki City, Kanagawa Prefecture, Japan
     Established:           April 1999
     Shareholders:          Fujitsu Limited (50%), Hitachi, Ltd. (50%)
     Business activity:     Development, production and marketing of plasma display panels
     Fiscal year:           April 1 - March 31
     Employees:             About 1,100 (as of March 2004)
     Capital:               30.0 billion yen
     Recent financial results:

                                                                  (million yen)
                               FY 2002                      FY 2003
                       (Apr.1,2002 - Mar.31,2003)   (Apr.1,2003- Mar.31,2004)
Sales                          49,448                       78,546
Ordinary Income (Loss)         (2,359)                       5,145         
Net Income (Loss)              (1,551)                       6,909
Total Assets                   27,173                       32,846
Shareholders' Equity          (15,818)                      (8,908)



2. Composition of Shareholding

   Prior to proposed transfer of shares:             Hitachi (50.0%)  Fujitsu (50.0%)
   Following proposed transfer of shares (planned):  Hitachi (80.1%)  Fujitsu (19.9%)


3. Planned Timing of Share Transfer

   April 2005


4. Effect on Fujitsu's Financial Results

    From FY 2005 FHP's results will no longer be consolidated on Fujitsu's
    financial statements.


About Fujitsu

Fujitsu is a leading provider of customer-focused IT and communications
solutions for the global marketplace. Pace-setting technologies, highly reliable
computing and communications platforms, and a worldwide corps of systems and
services experts uniquely position Fujitsu to deliver comprehensive solutions
that open up infinite possibilities for its customers' success. Headquartered in
Tokyo, Fujitsu Limited (TSE: 6702) reported consolidated revenues of 4.7
trillion yen (US$45 billion) for the fiscal year ended March 31, 2004.
For more information, please see: www.fujitsu.com







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