Price Target Risks and Methodology - Fujitsu

研报英文原文证据摘录

Price Target Risks and Methodology - Fujitsu

Equity Research

3 July 2026 | 11:12AM JST

Fujitsu (6702.T): Nikkei reports investment in Dentsu Soken; could lead

to strengthening of manufacturing DX if accurate

The July 3 Nikkei morning edition reported that Dentsu Group (Not Covered) has Chikai Tanaka, CFA

+81(3)4587-9840 |

finalized plans to take listed subsidiary Dentsu Soken (Not Covered) private. chikai.tanaka@gs.com

Goldman Sachs Japan Co., Ltd.

According to the article, Dentsu Group is considering maintaining a 61.8% stake in

Yuki Sato

Dentsu Soken, with Fujitsu and one or more trading companies reportedly investing +81(3)4587-8536 | yuki.z.sato@gs.com

the remainder (c.¥200 bn). The accuracy of the article is unconfirmed, but if true, we Goldman Sachs Japan Co., Ltd.

think it could be a partnership that strengthens Fujitsu’s business solutions for the

manufacturing industry.

Dentsu Group, Dentsu Soken, and Fujitsu entered into a strategic partnership in

business solutions for the manufacturing industry in April 2022. Fujitsu and Dentsu

Soken in our view have significant strengths in this area compared to peers, and

given that their respective business areas differ, we think their partnership is

conducive to capturing synergies. Specifically, Fujitsu is strong in production,

component/materials procurement, and supply fields (with UVANCE products such

as SCM seeing high growth), while Dentsu Soken is strong in the design field

(CAD/CAE/PLM from Siemens, with its manufacturing business solutions posting a

revenue CAGR of +15% over the past five years). Should the reported deal complete

and the partnership be strengthened, Fujitsu would potentially be in a position to

provide customers a full suite of manufacturing DX solutions spanning design,