OREANDA-NEWS. October 26, 2011.Fujitsu Limited today announced differences between its financial projections for the first half of fiscal 2011 (April 1, 2011-September 30, 2011) previously announced July 28, 2011, and its actual results announced today.
1. Differences in Financial Projections and Actual Results
Differences in Financial Projections and Actual Results(Billion Yen)
Net Sales Operating Income Net Income Earnings Per Share
(yen)
Previous Projection (A) 2,100.0 5.0 0.0 0.00
Actual Results (B) 2,092.3 7.0 5.7 2.79
Change (B-A) -7.6 2.0 5.7 2.79
Percent Change -0.4% 41.0% –% –
Results for 1H FY2010 2,147.4 47.1 19.0 9.22

2. Reasons for Differences from Earnings Projections

Net sales for the first half of the fiscal year were 2,092.3 billion yen and operating income was 7.0 billion yen. Although there was lower demand for LSI devices and electronic components, the services business maintained its steady showing in Japan, while sales of mobilewear exceeded projections as automobile production returned to normal, in addition to group-wide efforts to streamline costs. Despite the exchange-rate loss due to yen appreciation, net income was 5.7 billion yen as a result of a reduction in tax expenses stemming from Fujitsu Group reorganization in Europe, in line with share transfers originally expected to take place in the second half of fiscal 2011.
(Reference)

Regarding financial projections for the full fiscal year (April 1, 2011-March 31, 2012), previously announced July 28, 2011, the company has revised its net sales projection downward by 60.0 billion yen, from 4,600.0 billion yen to 4,540.0 billion yen. The full year projections for operating income and net income are unchanged. Although the impact of the appreciation of the yen as well as the low demand for LSI devices and electronic components are expected to continue, compensating for these will be group-wide efforts to streamline costs.

For details, please see “Fujitsu Reports Fiscal 2011 Second-Quarter Financial Results” announced separately today.

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.