LONDON, March 25, 2013 /PRNewswire/ --
Fujitsu Strengthens UK Operation with Pensions Contribution
Fujitsu UK & Ireland today confirmed that it has received a special payment of £800m from Fujitsu Limited (Japan), which it has invested into three of its UK defined-benefit pension schemes.
The company has taken this step to substantially improve the financial position in these pension schemes. The company has negotiated reduced ongoing annual contributions with the pension scheme Trustees that will enable its UK businesses to accelerate investment over the coming years. This action underlines the company's responsible approach to invest in the UK economy and to honour its commitments to current and former employees.
Duncan Tait, CEO of Fujitsu UK & Ireland, said: "We have supported UK business across both public and private sectors for more than 40 years and this announcement underlines our commitment to continue doing so far into the future."
"Fujitsu already plays a major role in supporting the UK economy; our 2012 investment in the UK was close to £50m, including more than £14m spent on R&D. Our total investment is more than £3bn. This move only strengthens our ability to contribute to economic growth on these shores."
The £800m special investment underpins a series of on-going contributions made by the business to the UK and Ireland:
• Fujitsu is the UK's biggest Japanese employer with 14,000 staff, many based in areas of typically low employment. Over the past year alone, the company has recruited over 1,800 people, almost a third of which were workers under the age of 25 - a level of job creation it intends to maintain
• The company's UK supply chain generates around £215m in revenues for small and medium-sized enterprises
• Since 2008, Fujitsu UK & Ireland has invested some £36m in capital projects
Fujitsu UK & Ireland itself is enjoying rapid expansion, with a headcount growth of 3.6% during 2012 (compared to a 0.9% growth rate for the wider UK labour market).
Split across three pension schemes, the £800m investment will substantially improve the funding position of these schemes, benefiting over 21,000 members.
John Cridland, CBI Director General, commented: "Fujitsu's decision today highlights the company's commitment to honouring the pension promise made to employees. Like many businesses, they are working hard to grow as well as fund pensions. Last week's Budget announcement of a new duty on the Pensions Regulator to support the growth of firms who are standing by their scheme will be good news for every business with a DB scheme."
Concluding, Duncan Tait said: "The ability to safeguard the long-term future of our most valuable asset, our employees, has been one of the defining factors in making the UK & Ireland a competitive place to do business. I am delighted that we are able to demonstrate our on-going commitment to employees young and old at both a local and international level. In addition to this, the move has created space for the UK & Ireland business to invest over the coming years and to continue to drive growth within the UK."
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About Fujitsu
Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Over 170,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE:6702) reported consolidated revenues of 4.5 trillion yen (US$54 billion) for the fiscal year ended March 31, 2012. For more information, please see http://www.fujitsu.com
Fujitsu UK and Ireland is a leading IT systems, services and products company employing over 10,100 people with an annual revenue of £1.6 billion. Additionally, Fujitsu's other operations in the UK bring its total employee numbers to over 14,000 and its total revenues to £1.8 billion. Its business is in enabling its customers to realise their objectives by exploiting information technology through its integrated product and service portfolio. This includes consulting, applications, systems integration, managed services and product for customers in the private and public sectors including retail, financial services, telecoms, government, defence and consumer sectors. For more information, please see: http://uk.fujitsu.com
For more media information, please contact:
Ellie Bennett
Harvard PR
Tel: + 44(0)-20-7861-2839
Email: teamfujitsu@harvard.co.uk
Graham Goulden
Fujitsu UK and Ireland
Tel: + 44(0)843-354-9568
Email: graham.goulden@uk.fujitsu.com
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