Menu
Fujitsu revises outlook, expects first loss in six years

Fujitsu revises outlook, expects first loss in six years

Fujitsu revised down its financial outlook after the poor economic conditions caused its business in the last three months of the year to fall into the red.

Fujitsu revised down its financial outlook after the poor economic conditions caused its business in the last three months of the year to fall into the red.

The company said it now expects sales in the April to March financial year to be 7 percent lower than anticipated at ¥4.7 trillion (US$52 billion [b]), the profitability of its main operations to be ¥50 billion and, after exceptional charges and other items, to end the year ¥20 billion in the red. Fujitsu last posted a net loss in fiscal year 2002.

The company blamed poor conditions in several key markets, including personal computers, mobile phones, hard-disk drives, chips and components. The strong Japanese yen, which means lower yen-denominated profits, was also cited as a factor behind the downgrade.

Fujitsu is far from alone in revising down full-year estimates. Most other major Japanese electronics companies have done the same thing in the last few days or are expected to next week when they announce third quarter results.

For the October to December quarter Fujitsu said it lost ¥40.7 billion on sales of ¥1 trillion. In 2007 during the same period it recorded a net profit of ¥5.5 billion on sales of ¥1.2 trillion.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Featured

Slideshows

Meet the leading female front runners of the Kiwi channel

Meet the leading female front runners of the Kiwi channel

Reseller News honoured the leading female front runners of the New Zealand channel at the 2018 Women in ICT Awards (WIICTA) in Auckland. The awards honoured standout individuals across seven categories, spanning Entrepreneur; Innovation; Rising Star; Shining Star; Community; Technical and Achievement.

Meet the leading female front runners of the Kiwi channel
Meet the top performing customer-centric Microsoft channel partners

Meet the top performing customer-centric Microsoft channel partners

Microsoft honoured leading partners across the channel following a year of customer innovation and market growth in New Zealand. The 2018 Microsoft Partner Awards recognised excellence within the context of the end-user, spanning a host of emerging and established providers.

Meet the top performing customer-centric Microsoft channel partners
Reseller News launches new-look Awards at 2018 Judges’ Lunch

Reseller News launches new-look Awards at 2018 Judges’ Lunch

Introducing the Reseller News Innovation Awards, launched to the channel at the 2018 Judges’ Lunch in Auckland. With more than 70 judges now part of the voting panel, the new-look awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors.

Reseller News launches new-look Awards at 2018 Judges’ Lunch
Show Comments