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October 28, 1997updated 03 Sep 2016 8:53pm

FUJITSU PROFITS SURGE 296% IN FIRST HALF

By CBR Staff Writer

Fujitsu Ltd, the giant computing and communications group which is Japan’s second largest maker of personal computers (behind NEC Corp), experienced strong demand in both its domestic market and its overseas markets, leading to growth across the board in the first half of 1997 the company said. Net profits for the six months to September 30 were up 296% at the equivalent of $127m on revenue that rose 15% to $18.7bn. The group’s biggest division, computers and information processing, saw heavy spending from corporate customers who are buying into network-based computing and increased sales of systems integration services. Sales rose 13% to $11.9bn but despite this the company has been forced to revise downwards its projected shipments of personal computers to 2.25 million units in fiscal 1997, down from original estimates of 2.6 million units. The company blamed slow sales of PCs to private households. Fujitsu’s communications systems division was boosted by strong sales of digital switching equipment and fiber optic based systems into newly deregulated markets, lifting sales by 19% to $3.6bn. Sales of semiconductors grew 21% to $2.3bn on the back of increased demand for flash memory and DRAMs in the PC and wireless communications industries. The company is forecasting continued revenue growth for the remainder of 1997, but said that net earnings would remain flat after charges associated with the recent acquisition of Amdahl Corp. Fujitsu Ltd currently constitutes 452 consolidated subsidiaries and 35 affiliates.

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