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  7. Fujitsu Revises First-Half and Full-Year FY 2005 Financial Results Forecasts

Fujitsu Revises First-Half and Full-Year FY 2005 Financial Results Forecasts

Fujitsu Limited

Tokyo, October 18, 2005

Fujitsu Limited today announced that it has revised its forecast consolidated and unconsolidated financial results for the first half and full year of fiscal 2005 (the periods from April 1 to September 30, 2005 and from April 1, 2005 to March 31, 2006, respectively) from its previous forecasts announced on July 27, 2005. Details are as follows.

1. Revised FY 2005 Consolidated Financial Results Forecasts

(1) First Half FY 2005 (April 1, 2005 to September 30, 2005)

(Billion yen)
Net Sales

Operating Income
(Loss)
Net Income
(Loss)
Previous Forecast (A) 2,200.0 30.0 (15.0)
Revised Forecast (B) 2,192.0 47.0 7.0
Increase or Decrease (B-A) - 8.0 17.0 22.0
Percentage of Increase or Decrease - 0.4% 56.7% 146.7%
FY 2004 First-Half Results
(For half year ended September 30, 2004)
2,220.0 33.2 (8.1)

(2) Full Year FY 2005 (April 1, 2005 to March 31, 2006)

(Billion yen)
Net Sales

Operating Income
(Loss)
Net Income
(Loss)
Previous Forecast (A) 4,850.0 175.0 50.0
Revised Forecast (B) 4,800.0 175.0 50.0
Increase or Decrease (B-A) - 50.0 -- --
Percentage of Increase or Decrease -- -- --
FY 2004 Full-Year Results
(For full year ended March 31, 2005)
4,762.7 160.1 31.9

(3) Explanation of Revisions to Financial Results Forecasts

First Half

The changes reflect improved profitability in such areas as solutions/systems integration, infrastructure services, and electronic components, as well as the impact of higher demand for mobile phone base station systems and optical transmission systems, and progress in cost reductions and greater efficiency in expenses.

Full Year

In light of the company's traditional business structure—in which sales and profits tend to be concentrated in the fourth quarter—and with the domestic IT market still on the slow road to recovery, operating income for the full-year period is expected to remain in line with the previous forecast. In spite of an expected increase of 10.0 billion yen in other income (expenses) resulting from a reduction in amortization of unrecognized obligation for retirement benefits owing to changes in the pension system, due to fluctuations in corporate income tax and other factors, the full-year net income forecast has been left unchanged.

2. Revised FY 2005 Unconsolidated Financial Results Forecast

(1) First Half FY 2005 (April 1, 2005 to September 30, 2005)

(Billion yen)
Net Sales

Operating Income
(Loss)
Net Income
(Loss)
Previous Forecast (A) 1,265.0 (20.0) 15.0
Revised Forecast (B) 1,308.0 (13.0) 15.0
Increase or Decrease (B-A) 43.0 7.0 --
Percentage of Increase or Decrease 3.4% 35.0% --
FY 2004 First-Half Results
(For half year ended September 30, 2004)
1,295.7 (23.6) (12.1)

(2) Full Year FY 2005 (April 1, 2005 to March 31, 2006)

(Billion yen)
Net Sales

Operating Income
(Loss)
Net Income
(Loss)
Previous Forecast (A) 2,830.0 45.0 30.0
Revised Forecast (B) 2,830.0 45.0 30.0
Increase or Decrease (B-A) -- -- --
Percentage of Increase or Decrease -- -- --
FY 2004 Full-Year Results
(For full year ended March 31, 2005)
2,846.2 30.6 (39.8)

(3) Explanation of Revisions to Financial Results Forecasts

First Half

Net sales are expected to exceed the previous projection due to organizational realignment within the Group. In regard to profits, as with the consolidated first-half earnings forecast, higher demand and improved profitability for certain products and services, together with greater efficiency with respect to expenses are expected to lead to better than previously forecast operating income and, because of factors including higher dividends from subsidiary companies, other income (expenses) is expected to improve by 14.0 billion yen. However, as a result of a 17.0 billion yen loss on investments in affiliated companies, net income is expected to remain in line with the previous forecast.

Full Year

For similar reasons mentioned above with respect to the full-year consolidated earnings forecast, full-year unconsolidated operating income is expected to remain in line with the previous forecast. Likewise, despite an increase of 25.0 billion yen in other income (expenses) relating to the impact of pension system revisions and the increase in dividends from subsidiary companies, because of such factors as a loss on investments in affiliated companies, full-year net income is expected to be in line with the previous forecast.

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: 18 October, 2005
City: Tokyo
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