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Fujitsu Revises First-Half FY 2005 Financial Results Forecast

Fujitsu Limited

Tokyo, July 27, 2005

Fujitsu Limited today announced that it has revised its forecast consolidated and unconsolidated financial results for the first half of fiscal 2005 (the period from April 1 to September 30, 2005) from its previous forecast announced on April 27, 2005. Details are as follows.

1) Revised First-Half FY 2005 Consolidated Financial Results Forecast

(For fiscal half-year period from April 1, 2005 to September 30, 2005)

(Billion yen)
Net Sales

Operating Income
(Loss)
Net Income
(Loss)
Previous Forecast (A) 2,200.0 15.0 (30.0)
Revised Forecast (B) 2,200.0 30.0 (15.0)
Increase or Decrease (B-A) -- 15.0 15.0
Percentage of Increase or Decrease -- 100.0% 50.0%
FY 2004 First-Half Results
(For half year ended September 30, 2004)
2,220.0 33.2 (8.1)

2) Revised First-Half FY 2005 Unconsolidated Financial Results Forecast

(For fiscal half-year period from April 1, 2005 to September 30, 2005)

(Billion yen)
Net Sales

Operating Income
(Loss)
Net Income
(Loss)
Previous Forecast (A) 1,265.0 (25.0) (5.0)
Revised Forecast (B) 1,265.0 (20.0) 15.0
Increase or Decrease (B-A) -- 5.0 20.0
Percentage of Increase or Decrease -- 20.0% 400.0%
FY 2004 First-Half Results
(For half year ended September 30, 2004)
1,295.7 (23.6) (12.1)

3) Explanation of Revisions to Financial Results Forecast

First-Half FY 2005 Consolidated Earnings Forecast

The recovery in IT spending in Japan has been patchy at best, and such investment has yet to regain its former strength. Nevertheless, in light of increasing demand for mobile phone-related equipment in Japan and optical transmission systems in North America, as well as steady growth in demand for hard disk drives and efficiency gains from reductions in costs and expenses, Fujitsu has decided to increase its consolidated operating income forecast for the first half of fiscal 2005 by 15.0 billion yen. As a result of the projected improvement in operating income, along with an expected upturn in other income (expenses) owing to foreign currency transaction gains arising from the weaker yen and a gain on settlement of litigation relating to hard disk drives, the company now forecasts a narrowing of its projected first-half net loss by 15.0 billion yen.

Regarding fiscal 2005 full-year earnings projections, in addition to an anticipated delay in the recovery of the semiconductor market, there are a number of major uncertainties with respect to the IT market in the second half. Accordingly, Fujitsu is leaving its initial full-year earnings forecast unchanged.

First-Half FY 2005 Unconsolidated Earnings Forecast

For similar reasons to those cited above for consolidated performance, Fujitsu is revising upwards its forecast for unconsolidated operating income for the first half. Likewise, due to projected improvement in operating income, an expected upturn in other income (expenses) owing to foreign currency transaction gains arising from the weaker yen, a projected increase in dividends from subsidiaries, and the gain on settlement of litigation relating to hard disk drives, the company has raised its net income forecast.

[For Reference]

Status of First-Quarter FY 2005 Consolidated Financial Results

(Billion yen)
Latest Forecast 1Q FY 2004 Increase April Forecast
Net Sales 1,026.3 1,008.1 18.1 1.010.0
Operating Income (Loss) 14.8 (4.3) 19.1 (10.0)
Net Income (Loss) 2.4 (11.8) 14.3 (30.0)


First-quarter FY 2005 financial results are scheduled to be announced tomorrow, July 28, 2005.

About Fujitsu

Fujitsu is a leading provider of customer-focused IT and communications solutions for the global marketplace. Pace-setting device technologies, highly reliable computing and communications products, and a worldwide corps of systems and services experts uniquely position Fujitsu to deliver comprehensive solutions that open up infinite possibilities for its customers' success. Headquartered in Tokyo, Fujitsu Limited (TSE: 6702) reported consolidated revenues of 4.7 trillion yen (US$44.5 billion) for the fiscal year ended March 31, 2005. For more information, please see www.fujitsu.com

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Company:Fujitsu Limited

Date: 27 July, 2005
City: Tokyo
Company: Fujitsu Limited, , , , ,