Fujitsu Revises Earnings Projections for First-Half FY2009

1. Revised Consolidated Earnings Projections for First-Half FY 2009 (April 1, 2009 –September 30, 2009)

2. Reasons for Revisions to Earnings Projections

Though net sales for the first half of the fiscal year were lower than projections, the operating loss narrowed to 18.2 billion yen, an improvement of 16.7 billion yen compared to the previous projection due to better-than-expected sales of mobile phones, logic LSI devices, and car audio and navigation products. In addition, business efficiency measures throughout the Fujitsu Group helped to reduce costs.

Net income for the first half totaled 43.2 billion yen, an improvement of 28.2 billion yen compared with projections as a result of the increased operating income and other factors, including a reduced tax burden on the gain from the sale of shares of FANUC Ltd. resulting from a revision to the amount of deferred tax assets deemed recoverable.

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Regarding financial projections for the full fiscal year (April 1, 2009 – March 31, 2010), previously announced August 21, 2009, the company has revised its net sales projection from 4,820.0 billion yen to 4,800.0 billion yen. The lower projection is due primarily to lower demand for PCs and IT services in markets outside Japan. Projections for operating income and net income remain unchanged. For details, please see “Fujitsu Reports Fiscal 2009 Second-Quarter Financial Results” announced separately today.

* These materials may contain forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results may differ materially from those projected or implied in the forward-looking statements due to, without limitation, the following factors:
- General economic and market conditions in key markets (particularly in Japan, North America, Europe, and Asia, including China)
- Rapid changes in the high-technology market (particularly semiconductors, PCs, mobile phones, etc.)
- Fluctuations in exchange rates or interest rates
- Fluctuations in capital markets
- Intensifying price competition
- Changes in market positioning due to competition in R&D
- Changes in the environment for the procurement of parts and components
- Changes in competitive relationships relating to collaborations, alliances and technical provisions
- Potential emergence of unprofitable projects
- Changes in accounting policies