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FUJITSU'S FISCAL 1991 CONSOLIDATED SALES UP 15.8 PERCENT

 FUJITSU'S FISCAL 1991 CONSOLIDATED SALES UP 15.8 PERCENT
 TOKYO, May 26 /PRNewswire/ -- Fujitsu Limited, the world's second


largest computer manufacturer and a leading producer of communications, semiconductors and other electronic components, today reported consolidated net sales of 3,441.95 billion yen (Y) in fiscal 1991 (April 1, 1991, to March 31, 1992), up 15.8 percent over the previous year. Converted into dollars (Y133 equals $1), this represents $25.88 billion.
 According to the company's consolidated financial statement, operating income for FY1991 declined by 36.1 percent to Y136.85 billion ($1,028.94 million) in comparison with Y214.20 billion ($1,610.45 million) in FY1990. Net income for FY1991 was Y12.21 billion ($91.80 million), off 85.2 percent from the preceding fiscal year. Income per share during this period was Y6.74, or 85.2 percent less than the Y45.62 reported in fiscal 1990.
 By product area, sales of communications products showed a 0.7 percent gain, while computers and information processing systems grew by 22.1 percent. Sales of semiconductors and other electronic components slowed by 0.1 percent. Overseas sales in fiscal 1991, including local production as well as exports from Japan, expanded by 39.1 percent over the previous fiscal year to reach the Y1,026.80 billion ($7.72 billion) level. Overseas sales now account for 29.8 percent of total sales, a 5 percent increase in comparison with FY1990.
 The company attributed the decline in earnings for the fiscal year principally to the worldwide economic slowdown, declining prices and unexpected sluggishness in the semiconductor field, and higher interest costs.
 These results reflect the performance of 340 consolidated subsidiaries (280 in fiscal 1990), including Fujitsu America, Inc., Fujitsu Microelectronics, Inc., and ICL PLC, as well as 20 other affiliated companies (24 in fiscal 1990), including Fanuc Ltd., using the applied equity accounting method.
 NOTE: All yen figures have been converted to U.S. dollars at the rate of 133 yen to the dollar. Comparisons between fiscal years reflect conversion of yen amounts into dollars at this uniform rate. Net income per share is based on the weighted average number of shares of common stock outstanding during the respective years.
 FUJITSU LIMITED
 Net Sales by Products
 (In millions of yen)
 1991 1990 Pct. Change
 Communication systems 444,901 441,962 0.7
 Computers and information
 processing systems 2,510,731 2,055,609 22.1
 Semiconductors and electronics
 components 348,519 348,870 (0.1)
 Other operations 137,796 125,021 10.2
 Total 3,441,947 2,971,462 15.8
 Net overseas sales 1,026,796 737,969 39.1
 (In millions of dollars)
 1991 1990 Pct. Change
 Communication systems 3,345.12 3,323.02 0.7
 Computers and information
 processing systems 18,877.68 15,455.71 22.1
 Semiconductors and electronics
 components 2,620.44 2,623.08 (0.1)
 Other operations 1,036.06 940.01 10.2
 Total 25,879.30 22,341.82 15.8
 Net overseas sales 7,720.27 5,548.64 39.1
 Background on Fiscal 1991 Results
 and Projections for 1992
 Influenced by the slow pace of economic recovery in the United States, world economic conditions became generally sluggish during the company's 1991 fiscal year (April 1, 1991, to March 31, 1992). In Japan, private sector investment slowed down markedly in the second half of the period and personal consumption stagnated as the overall economic climate deteriorated.
 Similarly, in the electronics market, due to the unfavorable market for semiconductors, the lack of vigor in overseas markets, and restraint on investment in the financial and securities industries, overall demand for computers, telecommunications systems and electronic devices has become weak.
 While responding to such structural changes in the market as downsizing and open systems, the Fujitsu Group, as a total systems supplier offering the entire spectrum from large-scale systems to personal-use products, has strived to provide its customers with the products and services that meet their needs. And at the same time, the company has been making a major effort to further globalize its business and improve efficiency.
 Thanks to the coordinated efforts of the Fujitsu Group as a whole, consolidated sales reached a level of Y3,441.95 billion, or $25.88 billion. This represents a growth rate of 15.8 percent over FY1990.
 Projections for Fiscal 1992
 As during FY1991, consolidated results of the 1992 fiscal year are expected to outpace performance in Japan. Projected results for FY1992 are as follows:
 Consolidated sales Y3,750 billion (8.9 percent increase)
 Consolidated net income Y40 billion (227.6 percent increase)
 -0- 5/26/92
 /CONTACT: Michael Solomon or Brian Mertens, in New York, 212-764-4814, for Fujitsu/ CO: Fujitsu Limited ST: IN: CPR SU:


GK-TS -- NY030 -- 3738 05/26/92 11:42 EDT
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Date:May 26, 1992
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