Notice Regarding Revision to Earnings Projections

Tokyo, January 31, 2012

Fujitsu announced today that it has revised its consolidated earnings projections for fiscal 2011 (April 1, 2011 – March 31, 2012), previously announced October 26, 2011.

1. Revised Earnings Projections
Revised Projections for Fiscal 2011 (April 1, 2011 – March 31, 2012)

Differences in Financial Projections and Actual Results

	Net Sales (Billion Yen)	Operating Income (Billion Yen)	Net Income (Billion Yen)	Earnings Per Share (yen)
Previous Projection (A)	4,540.0	135.0	60.0	28.99
Current Projection (B)	4,490.0	100.0	35.0	16.91
Change (B-A)	-50.0	-35.0	-25.0	―
Percent Change	-1.1%	-25.9%	-41.7%	―
Results for FY 2010	4,528.4	132.5	55.0	26.62

2. Reasons for Revisions to Earnings Projections

Net sales projections have been revised downward by 50.0 billion yen to 4,490.0 billion yen. Sales of PCs, car audio and navigation systems, and LSI devices have been revised downward due to delays in procuring certain parts and customer production adjustments due to the flooding in Thailand. In addition, the downward revision in net sales also reflects lower sales of services and server-related products because of delays in the recovery of ICT spending inside and outside Japan, as well as lower demand for LSI devices and electronic components.

Operating income projections have been revised downward by 35.0 billion yen to 100.0 billion yen. In addition to the impact of lower sales of services, server-related products, PCs, car audio and navigation systems, LSI devices, and electronic components, the downward revision in operating income reflects the adverse impact of higher HDD procurement costs due to the Thai flooding.

As a result of the projected decline in operating income, net income projections have also been revised downward by 25.0 billion yen.

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Note: These materials may contain forward-looking statements that are based on management’s current information, 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 listed below.

• 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 public regulations, public policy, and tax matters
• 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