Japan's Fujitsu says posts 16% fall in Q1 profit

Jul 27, 2012

Japanese high-tech giant Fujitsu on Friday said its first quarter net loss widened and cut its sales forecast for the fiscal year as it was hit by weaker demand and a strong yen.

Fujitsu, which provides and makes consumer products including computers and mobile phones, booked a net loss of 23.7 billion yen ($304 million) in the three months through June, compared with a loss of 20.4 billion yen in the same period last year.

Quarterly sales dipped 2.9 percent to 957.3 billion yen, it said.

Fujitsu, like many , blamed much of its loss on a surging yen, which makes products more expensive overseas while shrinking the relative value of foreign-earned income.

The yen hit a record high against the dollar late last year -- and is sitting just above those highs -- while the nation's manufacturers were also hit by the quake-tsunami disaster and flooding in Thailand.

In the latest quarter, Fujitsu also cited a slump in sales of large-scale-integration chips and digital optical transmission systems.

Overseas, sales of audio and for vehicles rose, but was offset by a drop in demand for and optical fiber transmission systems in the United States.

Fujitsu lowered its sales outlook for the fiscal year through March 2013 to 4.53 trillion yen from an earlier 4.55 trillion yen "as a result of adjustments in anticipated exchange rates".

The company left its previous full-year forecast unchanged at 60 billion yen.

Explore further: Political strategist joins car ride service Uber (Update)

add to favorites email to friend print save as pdf

Related Stories

Japan's Fujitsu hit by third-quarter loss

Jan 31, 2012

Japanese high-tech giant Fujitsu plunged into a net loss for the three months to December, it said Tuesday, as it slashed its full-year sales and profit forecast.

Japan's Fujitsu sees post-quake profit growth

Jun 17, 2011

Japan's Fujitsu on Friday forecast net profit to rise 8.9 percent this year, expecting demand for IT products and services to recover after the March earthquake and tsunami.

Japan's NEC sees $1.36 billion net loss

Apr 27, 2012

Japanese IT firm NEC said Friday it lost $1.36 billion in the year to March as asset write-downs and tax payments hit its bottom line, even as operating profit rose.

Fujitsu 3Q net profit rises, cuts forecasts

Jan 28, 2011

Japanese IT giant Fujitsu said Friday its net profit for the October-December quarter quadrupled but warned that an uncertain outlook for capital expenditure forced it to lower full year forecasts.

Recommended for you

Google buys travel guide app startup Jetpac

Aug 18, 2014

Google confirmed Monday it has bought the startup behind a Jetpac mobile application that creates insightful travel guides by analyzing pictures from social networks such as Instagram.

User comments : 0