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FUJITSU'S CONSOLIDATED HALF-YEAR RESULTS: NET SALES UP 6.7 PERCENT

FUJITSU'S CONSOLIDATED HALF-YEAR RESULTS: NET SALES UP 6.7 PERCENT
 TOKYO, Oct. 27 /PRNewswire/ -- Fujitsu Limited, the world's second largest Information Technology company and a leading producer of telecommunication systems, semiconductors and other electronic components, reported net sales of 1,694.3 billion yen ($14,238 million) on a consolidated basis for the six-month period ending Sept. 30, 1992. This represents a 6.7 percent increase compared with net sales of 1,587.2 billion yen ($13,338 million) over the same six-month period in 1991.
 According to the company's consolidated financial statement, operating income for the half-year period declined by 61 percent to 25.41 billion yen ($213 million) in comparison with 66.05 billion yen ($555 million) in the same half-year period of fiscal year 1991. The company posted a first-half net loss of 19.2 billion yen ($161 million), the first net loss in its history. Last year, net income of 10.3 billion yen ($87 million) was reported for the same period. Net loss per share was 10.62 yen ($0.08), as compared with the income of 5.72 yen ($0.04) in the same period of the previous year.
 By product area, sales of communications products decreased 7.7 percent, while computers and information processing systems grew by 10.9 percent. Sales of semiconductors and other electronic components slowed by 3.4 percent. International sales, which include local production as well as exports from Japan, expanded by 29.3 percent to reach 578.58 billion yen ($4,862 million). International sales now account for 34.1 percent of total sales.
 The company attributed the loss for the half-year period principally to the worldwide economic slowdown, lower margins due to intensified competition, prolonged sluggishness in the semiconductor field, and the appreciation of the yen.
 These results reflect the performance of 367 consolidated subsidiaries (301 in the same 1991 half-year period), including Fujitsu America, Inc., Fujitsu Microelectronics, Inc., and ICL PLC, as well as 33 affiliates (24 in 1991), including Fanuc Ltd., using the applied equity accounting method.
 NOTE: All yen figures have been converted to U.S. dollars at a rate of 119 yen to the dollar. Comparisons between fiscal half-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 periods.
 FUJITSU LIMITED
 Net Sales By Product Area
 (In millions of Yen)
 4/1/92 - 9/30/92 4/1/91 - 9/30/91 Pct. Change
 Communications
 systems 206,733 223,975 -7.7
 Computers and information
 processing systems 1,246,114 1,123,922 10.9
 Semiconductors and
 electronic components 174,898 180,988 -3.4
 Other operations 66,645 58,406 14.1
 Net sales total 1,694,390 1,587,291 6.7
 Net overseas sales 578,585 447,530 29.3
 FUJITSU LIMITED
 Net Sales By Product Area
 (In millions of Dollars)
 4/1/92 - 9/30/92 4/1/91 - 9/30/91 Pct. Change
 Communications
 systems 1,737 1,882 -7.7
 Computers and information
 processing systems 10,471 9,444 10.9
 Semiconductors and
 electronic components 1,469 1,520 -3.4
 Other operations 560 490 14.1
 Net sales total 14,238 13,338 6.7
 Net overseas sales 4,862 3,760 29.3
 Projections for Fiscal 1992
 Fujitsu operates in a severe business environment that continues to get more difficult, both in Japan and worldwide, caused by the prolonged economic recession and further appreciation of the yen. The problems facing the electronics industry, in particular, have been compounded by stagnant demand, products and markets that are undergoing rapid structural changes, and continued intensification of competition.
 Within today's severe economic climate, Fujitsu, as a total systems supplier, remains committed to providing comprehensive solutions to satisfy customer needs. We will establish a corporate structure that will increase profitability and respond quickly to the continually changing business environment as well as develop leading edge technology and products that meet market demand.
 Projected results for the full 1992 fiscal year (4/1/92 - 3/31/93) are as follows:
 Consolidated sales 3,600 billion yen ($30.25 billion)
 Consolidated net income 5 billion yen ($42.02 million)
 -0- 10/27/92
 /CONTACT: Michael Solomon or Brian Mertens of Michael Solomon Associates, Inc. 212-764-4760, for Fujitsu Limited/ CO: Fujitsu Limited ST: IN: CPR SU: ERN


AH-OS -- NY063 -- 5405 10/27/92 12:27 EST
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Date:Oct 27, 1992
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