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March 1, 1999


By CBR Staff Writer

A slump in domestic demand for telecommunications equipment has forced Japanese electronics giant Fujitsu Ltd to revise downwards its revenue and profit projections for the current financial year. While total sales in the twelve months to March 31 are expected to show a 5.3% increase over the previous yearÆs level, they will be 2.8% below company expectations. Fujitsu expects net profits to be around $170m, 55% below forecasts, though well up on the $46.1m recorded the previous year. A rapid deterioration in the market for communications equipment in Japan has left Fujitsu expecting sales to be 25.5% below last yearÆs level at $3.8bn. While overseas sales are not up to original expectations, they are still projected to show an 18.8% rise over last yearÆs level at $2.6bn. Semiconductor and electronic components is another area that has weakened with the original forecast of a 2.9% decline in sales now rising to 7.9% fall to $4.6bn. While Fujitsu is slightly less optimistic about growth in computers and information processing systems, it still expects revenues to rise 12.6% to $31.4bn with exports showing a 36.7% rise. Fujitsu has upped it forecast of PC shipments with shipments expected to reach 3.7 million units, a 17.5% rise on last year’s level.

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