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Fujitsu Revises Forecast for First-Half FY 2004 Financial Results

Fujitsu Limited

Tokyo, October 18, 2004

Fujitsu Limited today revised its forecast financial results for the first half of FY 2004 from previous projections issued at the time of its first-quarter results announcement on July 29, 2004. Details are as follows:

Revised Forecast for First-Half FY 2004 Consolidated Financial Results

(For the 6-month period from April 1, 2004 to September 30, 2004)

(billion yen)

Net Sales
Operating Income
Net Income
Previous Forecast
(July 29, 2004)
2,250 10 (25)
Revised Forecast 2,220 33 (8)
Change - 30 + 23 + 17
Percentage Change - 1.3% + 230.0% --
First-half FY 2003 (Actual) 2,141.9 (17.9) (58.5)

Reasons for the Revision

During the first half of the fiscal year favorable demand for such products as 3G mobile communication base stations and system-on-chip devices used in digital audio-video equipment helped boost profitability. Although negatively impacted by such factors as continued pricing pressures in the Solutions & Systems Integration segment and lower sales of mobile telephones, thanks to progress in reducing costs and expense reductions from restructuring efforts undertaken in the previous fiscal year Fujitsu expects consolidated operating income to exceed its previous forecast. The company also anticipates higher than previously forecast net income as a result of higher operating income as well as improvements to its balance of financial income and expenses, net foreign exchange gains and other factors.

About Fujitsu

Fujitsu is a leading provider of customer-focused IT and communications solutions for the global marketplace. Pace-setting technologies, highly reliable computing and communications platforms, 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$45 billion) for the fiscal year ended March 31, 2004.
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Company:Fujitsu Limited

Date: 18 October, 2004
City: Tokyo
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