Fujitsu Reports Full Year

Reports consolidated net income of 93.0 billion yen (US$1.0 billion) for fiscal 2009

April 30, 2010

2 Min Read

TOKYO -- Fujitsu Limited, a leading provider of ICT-based business solutions for the global marketplace, today reported consolidated net income of 93.0 billion yen (US$1.0 billion*) for fiscal 2009 (April 1, 2009 - March 31, 2010), a turnaround from the previous year’s net loss, as the company made progress in its business reforms and recorded one-time gains on sales of stockholdings.

Net sales for fiscal 2009 were 4,679.5 billion yen(US$50,317 million), roughly the same as fiscal 2008. Operating income surged 37.2% to 94.3 billion yen(US$1,014 million), driven by improved efficiency across the company, particularly in the LSI device and electronics component businesses.

Annual profits exceeded initial targets, and the company announced an increase in year-end dividends to 5 yen a share, 2 yen more than the forecast as the start of the fiscal year.

"We made excellent progress towards our goal of transforming Fujitsu into a truly global enterprise geared for profitability,” said Masami Yamamoto, who became president of Fujitsu Limited on April 1. “Even as we improve efficiency, we are making strategic investments around the world in cloud computing platforms and other key areas to support the success of our customers and drive our future growth.”

Fujitsu embarked on a major expansion in Europe during the year by acquiring Siemens AG’s stake in joint-venture Fujitsu Siemens Computers (Holding) B.V. (renamed Fujitsu Technology Solutions(Holding) B.V.), which increased its sales in the Europe, Middle and Africa (EMEA) region by about 60%. Sales in other regions?the Americas, Asia-Pacific and China, and Japan?declined versus fiscal 2008, particularly in the first half of the year amid the lingering economic recession. Overall, factoring in the European acquisition, sales outside Japan rose 8.6% to 1,774.9 billion yen (US$19,085 million).

In Japan, sales declined 10.3% versus fiscal 2008 to 3,400.5 billion yen (US$36,565 million). In the services business, outsourcing sales increased steadily, but hardware-related solutions to manufacturers, retailers/distributors, and financial services companies declined. During the year, Fujitsu successfully completed the development of the Tokyo Stock Exchange’s new equities trading system, widely considered the year’s most significant systems integration project in Japan. In the products area, mobile phones sales rose strongly.

Fujitsu Ltd. (Tokyo: 6702; London: FUJ; OTC: FJTSY)

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