Fujitsu has reported consolidated net income of 48.6 billion yen (US$472 million), representing an improvement of 128.5 billion yen from fiscal 2012.
Consolidated net sales for fiscal 2013 were 4,762.4 billion yen (US$46,237 million), up 8.7% from fiscal 2012. Sales in Japan rose by 2.7%. Sales of system integration services increased, primarily to the public sector and financial services sector, and there were also higher sales of network products and PCs. Outside of Japan, sales rose by 20.2%, up by 1% on a constant-currency basis.
Gross profit was 1,269.1 billion yen, up 65.4 billion yen from fiscal 2012. Despite the decline in mobile phone sales, gross profit increased due to the impact of foreign exchange fluctuations and the beneficial effects of initiatives to improve profitability. Selling, general and administrative expenses were 1,126.6 billion yen, an increase of 11.1 billion yen from fiscal 2012, mainly attributable to the weaker yen.
As a result, Fujitsu recorded an operating income of 142.5 billion yen (US $1,383 million), an increase of 54.2 billion yen from the previous fiscal year. Structural reforms in the LSI device business and businesses outside of Japan contributed approximately 30.0 billion yen to this increase, and the impact of workforce-related measures contributed approximately 20.0 billion yen.
"Throughout fiscal 2013, we saw a strong recovery in IT spending in Japan. We achieved significant improvements in profits by taking measures to deal with issues in the LSI device business and businesses outside Japan, as well as by taking workforce-related measures and initiatives to reduce corporate expenses. I'm happy to announce, as a result, that we were able to achieve the initial financial targets we set at the beginning of the year," commented Fujitsu's President Masami Yamamoto. "Fiscal 2014 will be the milestone year to achieve our medium term targets. We will be shifting resources for strategic investment in order to achieve mid- and long-term growth."
To view an unabridged version of this press release, visit: http://www.fujitsu.com/global/news/pr/archives/month/2014/20140430-01.html
