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Fujitsu Revises Fiscal 2006 First-Half Financial Results Forecasts

Fujitsu Limited

Tokyo, October 23, 2006

Fujitsu Limited today revised its consolidated and unconsolidated earnings forecasts for the first half of fiscal 2006 (April 1, 2006 – September 30, 2006) that were previously issued on July 27, 2006. The company's full-year fiscal 2006 earnings forecasts (consolidated and unconsolidated) remain unchanged.

1-1. Revised FY 2006 First-Half Consolidated Financial Results Forecast

(April 1, 2006 – September 30, 2006)

(Billion yen)
Net Sales
Operating Income
Net Income
Previous Forecast* (A) 2,350.0 35.0 5.0
Revised Forecast (B) 2,362.3 50.6 14.8
Increase or Decrease (B-A) +12.3 +15.6 +9.8
Percentage of Increase or Decrease +0.5% +44.6% +196.0%
First-Half FY 2005 Results
(For half year ended September 30, 2005)
2,192.3 47.5 7.6

* Previous forecast as of July 27, 2006

1-2. Revised FY 2006 First-Half Unconsolidated Financial Results Forecast

(April 1, 2006 – September 30, 2006)

(Billion yen)
Net Sales
Net Income
Previous Forecast* (A) 1,300.0 10.0
Revised Forecast (B) 1,329.4 12.8
Increase or Decrease (B-A) +29.4 +2.8
Percentage of Increase or Decrease +2.3% +28.0%
First-Half FY 2005 Results
(For half year ended September 30, 2005)
1,308.4 15.1

* Previous forecast as of July 27, 2006

1-3. Explanation of Revision

Fujitsu revised its consolidated operating income forecast for the first half of fiscal 2006 upward by 15.6 billion yen compared to the forecast issued in July, to 50.6 billion yen. The upward revision reflects better than expected business performance in areas including services outside Japan and electronic components, as well as in solutions/systems integration in Japan, network equipment and hard disk drives. The increase in consolidated operating income is expected to result in significantly higher consolidated net income than was previously forecast.

2. Recording of Loss on Devaluation of Subsidiaries' and Affiliates' Stock

With respect to its first-half unconsolidated results, Fujitsu has recorded a loss of 9.3 billion yen on devaluation of subsidiaries' and affiliates' stock. As a result, the increase in unconsolidated net income over the previously forecast figure is expected to be limited to 2.8 billion yen.

Note: 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 and Europe)
- Rapid changes in the high-technology market (particularly semiconductors, PCs, 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

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 about 4.8 trillion yen (US$40.6 billion) for the fiscal year ended March 31, 2006. See for further information.

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Company:Fujitsu Limited

Date: 23 October, 2006
City: Tokyo
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