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Fujitsu Revises Earnings Projections for First-Half FY2010

Fujitsu Limited

Tokyo, October 27, 2010

Fujitsu Limited announced that it has revised consolidated earnings projections for the first half of fiscal 2010 (April 1, 2010–September 30, 2010) previously announced July 29, 2010, in consideration of recent financial results.

1. Revised Consolidated Earnings Projections for First-Half FY 2010
(April 1, 2010 –September 30, 2010)

(Billion Yen)
  Net Sales
Operating Income
Net Income
Earnings Per Share
(yen)
Previous Projection (A) 2,180.0 35.0 15.0 7.25
Actual Results (B) 2,147.4 47.1 19.0 9.22
Change (B-A) -32.5 12.1 4.0 -
Percent Change -1.5% 34.7% 27.3% -
Results for 1H FY2009 2,186.6 -18.2 43.2 21.08

2. Reasons for Revisions to Earnings Projections

Net sales for the first half of the fiscal year were 32.5 billion yen lower than projections. Sales of network products and mobile phones were higher than the previous projections, but sales of services outside Japan were lower than projections, due mainly to declines and delays in ICT investment in the United States and Europe. The appreciation of the yen also impacted sales. Operating income totaled 47.1 billion yen, exceeding projections by 12.1 billion yen. Despite lower-than-expected sales of services outside Japan, higher network products sales and group-wide efforts to lower costs and reduce expenses contributed to the improved profitability. Net income was also higher than projections.

(Reference)

Regarding financial projections for the full fiscal year (April 1, 2010 –March 31, 2011), previously announced July 29, 2010, the company has revised its net sales projection from 4,800.0 billion yen to 4,670.0 billion yen, or a decline of 130.0 billion yen. The lower projection is due primarily to declines and delays in ICT investment in the United States and Europe along with the impact of yen appreciation. The full-year projections for operating income and net income are unchanged. For details, please see "Fujitsu Reports Fiscal 2010 Second-Quarter Financial Results" announced separately today.

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, Europe, and Asia, including China)
- 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
- Risks related to product or services defects
- Potential emergence of unprofitable projects
- Risks related to R&D investments, capital expenditures, business acquisitions, business restructuring, etc.
- Risks related to natural disasters and unforeseen events
- Changes in accounting policies

About Fujitsu

Fujitsu is a leading provider of ICT-based business solutions for the global marketplace. With approximately 170,000 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$50 billion) for the fiscal year ended March 31, 2010. For more information, please see: www.fujitsu.com.

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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.

This press release has been revised as of December 17, 2018.

Date: 27 October, 2010
City: Tokyo
Company: Fujitsu Limited, , , , ,

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