Fujitsu sees semiconductor sales driving business growth

After suffering from a huge net loss in its financial 2002, Fujitsu announced impressive earnings of $452.9m (49.7bn Yen) in net income for its financial year 2003, which ended March 31.

The number represents a significant improvement from the $1.11bn (122.1bn yen) net loss just one year ago. Net sales were up 3.2 per cent to $43.5bn (4.77 trillion yen) from the previous financial year.

The company credits the recovery to higher sales, in addition to wide-sweeping financial reforms, improved efficiency and much higher profitability in its electronic devices and platforms business segments. As a result of these factors, consolidated operating income rose 49.7 per cent to $1.37bn (150.3bn yen) from the previous year.

In Fujitsu’s electronic devices segment, the company points to positive demand for digital electronics products globally with an 18.7 per cent increase in consolidated sales to $6.7bn (734.3 billion yen). Demand for logic devices for digital audio/videao and automotive applications drove the semiconductor segment sales up 15.6 per cent, bolstered by sales of other products such as plasma display panels up 22.7 per cent.

In this segment operating income recovered to $250.9m (27.5bn yen) in profit from a loss of $288.3m (31.6bn yen) last fiscal year.