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Fujitsu Recognizes Loss on Revaluation of Investment Securities
Fujitsu Limited
Tokyo, January 31, 2008
Fujitsu Limited today announced that in its financial results for the third quarter of fiscal 2007 ended December 31, 2007, it has recognized a loss on the revaluation of investment securities whose current market value has declined significantly and is unlikely to be recovered in the future. These securities are classified as "available-for-sale securities" in Article 8, Paragraph 22 of the Regulations for Terminology, Forms and Preparation of Financial Statements, financial reporting guidelines issued by Japan's Financial Services Agency.
1. Loss on Revaluation of Investment Securities as of December 31, 2007
Unconsolidated basis
| (Billion Yen) |
| (A) |
Total loss on revaluation of investment securities as of December 31, 2007 |
19.8 |
| (B) |
Total net assets as of March 31, 2007 [ (A) / (B) * 100 ] |
620.8
( 3.2% ) |
| (C) |
Ordinary income for fiscal year 2006 [ (A) / (C) * 100 ] |
62.6
( 31.7% ) |
| (D) |
Average net income for last 5 years [ (A) / (D) * 100 ] |
6.9
( 287.1% ) |
1) The fiscal year ends on March 31. Fiscal year 2006 ended March 31, 2007.
2) Revaluation loss refers principally to shares in Spansion Inc.* of the U.S.
*Spansion was established as a Flash memory joint venture with Advanced Micro Devices, Inc. of the U.S. The company was listed on the NASDAQ exchange in December 2005. Fujitsu had an approximately 14% ownership stake as of December 31, 2007.
Consolidated basis
| (Billion Yen) |
| (E) |
Total loss on revaluation of investment securities as of December 31, 2007 |
19.8 |
| (F) |
Total net assets as of March 31, 2007 [ (E) / (F) * 100 ] |
1,160.7
( 1.7% ) |
| (G) |
Ordinary income for fiscal 2006 [ (E) / (G) * 100 ] |
147.2
( 13.5% ) |
| (H) |
Net income for fiscal 2006 [ (E) / (H) * 100 ] |
102.4
( 19.4% ) |
2. Earnings Projections for Full Year FY 2007
The Company has recognized a 19.8 billion yen revaluation loss on investment securities for the third quarter of fiscal 2007. Please refer to today's release "Fujitsu Revises Earnings Projections for FY 2007" for the impact of this loss on full-year fiscal 2007 earnings projections.
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 create infinite possibilities for its customers' success. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 5.1 trillion yen (US$43.2 billion) for the fiscal year ended March 31, 2007. For more information, please see: www.fujitsu.com
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Company and product names referenced 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: 31 January, 2008
City: Tokyo
Company:
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