The rumored semiconductor joint venture between Fujitsu and Panasonic, which Fujitsu has denied considering, "will be a nonstarter," Junko Yoshida writes in this analysis, citing the example of the loss-ridden Renesas Electronics, which combined the chip-making operations of Hitachi, Mitsubishi Electric and NEC Electronics. Takashi Yunogami of the Fine Processing Institute said of the proposed Fujitsu-Panasonic chip JV, "Negative one plus negative one makes negative three."

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