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Regarding Impairment Losses in Fiscal 2008

Fujitsu Limited

Tokyo, April 30, 2009

Fujitsu Limited today announced that it has recognized impairment losses in its financial results for fiscal 2008 ended March 31, 2009.

1. Impairment Losses

Due to the worsening of the global business environment, Fujitsu recognized consolidated impairment losses of 58.9 billion yen in relation to property, plant and equipment of businesses with decreased profitability. The main losses are as follows.

(1) Property, Plant and Equipment of LSI Business

Impairment losses related to the property, plant and equipment of the LSI business of Fujitsu Microelectronics Limited totaled 49.9 billion yen. In January, Fujitsu Microelectronics announced business reforms in response to a sharp downturn in customer demand that began last autumn. Though the company continues to implement these reforms, since the business environment is unlikely to improve quickly in fiscal 2009, Fujitsu is taking a cautious approach to evaluating the expected future return from the LSI business assets. In addition, given that Fujitsu Microelectronics is reforming its business model by outsourcing the production of 40nm generation advanced logic products to outside foundries, it was necessary to recognize a loss on the Mie Plant 300mm Fab No. 2 facilities and its manufacturing equipment due to the change in expected future use.

(2) Property, Plant and Equipment of Optical Transmission Systems and Other Businesses

Consolidated impairment losses of 8.9 billion yen were recognized in relation to the property, plant and equipment of the optical transmission systems business, the electronic components business and other businesses due to their decreased profitability.

(3) Property, Plant and Equipment of HDD Business (included in business restructuring expenses)

Impairment losses of 16.2 billion yen have been recognized in relation to the property, plant and equipment of the reorganized HDD business. These losses are included in business restructuring expenses. The impairment loss includes 5.3 billion yen recognized in the third quarter for the discontinuation of the HDD head business. For more information, please see the release, "Regarding Business Restructuring Expenses in Fiscal 2008" also released today.

On an unconsolidated basis, Fujitsu recognized an impairment loss of 5.0 billion yen, along with an impairment loss of 7.5 billion yen in relation to the HDD business, which is included in business restructuring expenses.

2. Forecast for Fiscal 2008

In regard to the impact on fiscal 2008 results, please refer to the separate release "Regarding Revision to Earnings Projections for Fiscal 2008" also released today.

About Fujitsu

Fujitsu is a leading provider of IT-based business solutions for the global marketplace. With approximately 175,000 employees supporting customers in 70 countries, Fujitsu combines a worldwide corps of systems and services experts with highly reliable computing and communications products and advanced microelectronics to deliver added value to customers. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 4.6 trillion yen (US$47 billion) for the fiscal year ended March 31, 2009. For more information, please see:

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All other company or product names mentioned herein are trademarks or registered trademarks of their respective owners. Information provided in this press release is accurate at time of publication and is subject to change without advance notice.

Date: 30 April, 2009
City: Tokyo
Company: Fujitsu Limited, , , , ,