The Channel logo


By | Kelly Fiveash 30th July 2009 10:32

Fujitsu coughs to Q1 loss, pushes up profit forecast

Bets big on electronic components

Fujitsu Ltd reported a first quarter net loss of ¥29.1bn ($303m) today, for the three months ended 30 June.

Despite that, Japan's largest IT services company upped its income forecast for the full year by 13 per cent to ¥90bn ($948m), citing "rebounding demand for electronic components."

It said total Q1 net sales tumbled more than 11 per cent to ¥1,044.3bn ($10.8bn) in the period, compared to the same quarter in 2008.

Fujitsu took a bruising operating loss of ¥37.2bn ($386m) in the first quarter, compared with a ¥5.8bn profit a year earlier.

"In addition to lower sales, the yen appreciation, increased pension costs, and special one-time charges contributed to the loss," noted the HP and IBM IT services rival.

Fujitsu is currently rejigging its business, with plans to cut loose its unprofitable hard drive segment and outsource its microchip production to Toshiba. It is also looking at ways to win more overseas IT consulting sales. ®

comment icon Read 1 comment on this article alert Send corrections


Frank Jennings

What do you do? Use manual typwriters or live in a Scottish croft? Our man advises
A rusty petrol pump at an abandoned gas station. Pic by Silvia B. Jakiello via shutterstock

Trevor Pott

Among other things, Active Directory needs an overhaul
Baby looks taken aback/shocked/affronted. Photo by Shutterstock

Kat Hall

Plans for 2 million FTTP connections in next four years 'not enough'
Microsoft CEO Satya Nadella


League of gentlemen poster - Tubbs and Edward at the local shop. Copyright BBC
One reselling man tells his tale of woe