• United States
Senior Correspondent

Unisys to sell stake in Japanese affiliate

Mar 15, 20061 min
Computers and PeripheralsWi-Fi

Company to gain $350 million for its portion of Nihon Unisys.

Unisys plans to sell its 28% stake in its Japanese affiliate, Nihon Unisys, it announced Tuesday.

The sale, which is due to be completed next week, is expected to bring in more then $350 million for the Pennsylvania company and is part of Unisys’ plan to divest non-core assets, it said in a statement. The money will be used to fund ongoing restructuring at the company.

The relationship between the two companies won’t be affected by the deal and Nihon Unisys will remain the exclusive distributor of Unisys hardware and software products in Japan, Unisys said.

Nihon Unisys, shares of which are publically traded in Tokyo, reported a net profit of ¥3.6 billion ($30.8 million) on sales of ¥241.8 billion in its 2005 financial year.