Fujitsu Microelectronics Co. Ltd. based in Shanghai will design, develop, manufacture and market semiconductors for air conditioners, washing machines and televisions in China, the company said in a statement.

Capitalized at 400,000 dollars, the subsidiary began operations Thursday with a sales target of 223 million dollars in the year to March 2005.

"Amid growing demand in China, setting up a new subsidiary there will boost our semiconductor business," said a spokeswoman for Fujitsu said.

SPACE.WIRE