Fujitsu Ltd. is reportedly seeking buyers for its semiconductor business as part of a restructuring effort, according to a report.

The company has hired UBS AG as financial adviser on the sale process, Bloomberg reported today citing people familiar with the matter.

Fujitsu has been hurt by lw demand for semiconductors used in flat-panel TVs and is restructuring businesses after competition with Samsung and Apple pushed Japanese consumer electronics makers Sony, Sharp and Panasonic into losses.

Fujitsu in July reported a first-quarter loss that was bigger than analysts predicted.

Fujitsu said no decision has been made.