Despite increased sales, Fujitsu New Zealand fell into a loss for the year ended 31 March 2017, accounts filed with the Companies Office reveal.
Sales grew from $167.9 million to $173.8 million during the year but expenses increased even more, from $164.2 million to $173.6 million.
That took Fujitsu from a $2.8 million net profit after tax in 2016 to a $603,000 loss.
Asset impairments of $3.3 million, mostly related to the value of plant and equipment, appear to be the major factor in the result.
Fujitsu did not respond to a request for comment on the results.
Fujitsu supplies ICT goods and services, including a long standing SAP practice and end-user computing solutions such as desktop as a service.
More recently it has been focusing on answering customer demand for digital business transformation, including cloud services.