BRUSSELS (Kyodo) The European Commission, the executive body of the European Union, said Tuesday it will approve a joint venture between Fujitsu Limited Ltd. and Sumitomo Electric Industries, Ltd.

It has granted clearance for the joint venture, Fujitsu Quantum Devices Ltd., under the Merger Regulation. The operation was notified Feb. 26 under a simplified merger review procedure.

A commission official said Fujitsu and SEI notified the EU of the joint venture because the two Japanese companies have been very active in the European market.

Fujitsu and SEI will transfer their respective electronic devices businesses and their entire compound semiconductor businesses to the joint venture, which will be active in the development, production, marketing and sales of compound semiconductor devices.

Coronavirus banner