Fujitsu Limited has 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. The agreement announced today is expected to help enable Fujitsu to further consolidate and effectively allocate its resources in order to strengthen its business.