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FUJITSU REPORTS FLAT CONSOLIDATED SALES FOR FISCAL 1992

 TOKYO, May 27 /PRNewswire/ -- Fujitsu Limited, the world's second largest computer manufacturer and a leading producer of communications, semiconductors and other electronic components, reported consolidated net sales of 3,461.9 billion yen in fiscal 1992 (April 1, 1992 to March 31, 1993), up 0.6 percent over the previous year. Converted into dollars (116 yen equal $1), this represents $29.8 billion.
 According to the company's consolidated financial statement, operating income for fiscal 1992 declined by 53.1 percent to 64.2 billion yen ($553.2 million) in comparison with 136.8 billion yen ($1,179.7 million) in fiscal year 1991. Fujitsu reported a consolidated net loss of 32.6 billion yen ($281.1 million) for fiscal year 1992 versus net income of 12.2 billion yen ($105.3 million) in the previous fiscal year. Income per share registered a loss of 17.98 yen ($0.16) compared with a positive income per share of 6.74 yen ($0.06) in fiscal year 1991.
 By product area, sales of communications products showed a 6.4 percent gain over the previous fiscal year, while computers and information processing systems declined by 0.2 percent. Sales of semiconductors and other electronic components rose by 0.7 percent. Overseas sales in fiscal 1992, including local production as well as exports from Japan, expanded by 11.9 percent to reach 1,149.4 billion yen ($9.9 million). Overseas sales accounted for 33.2 percent of total sales, up from 29.8 percent in fiscal year 1991.
 The company attributed the decline in earnings for the fiscal year to the sluggish global economy, especially in Japan where private sector investment and consumer spending have declined considerably. Also cited by the company are the slow recovery of the semiconductor market, severe price competition and the higher yen.
 These results reflect the performance of 365 consolidated subsidiaries (340 in fiscal 1991), including Fujitsu America, Inc., Fujitsu Microelectronics, Inc., and ICL PLC, as well as 33 other affiliated companies (20 in fiscal 1991), including Fanuc Ltd., using the applied equity accounting method.
 FUJITSU LIMITED
 NET SALES BY PRODUCT AREA (In millions of yen)
 FY1992 FY1991 Change
 Communications Systems $ 473,428 $ 444,901 6.4 pct.
 Computers and Information
 Processing Systems 2,506,193 2,510,731 -0.2 pct.
 Semiconductors and
 Electronics Components 350,971 348,519 0.7 pct.
 Other operations 131,336 137,796 -4.7 pct.
 Total 3,461,928 3,441,947 0.6 pct.
 Net overseas sales 1,149,404 1,026,796 11.9 pct.
 NET SALES BY PRODUCT AREA (In millions of yen)
 FY1992 FY1991 Change
 Communications Systems $ 4,081.3 $ 3,835.4 6.4 pct.
 Computers and Information
 Processing Systems 21,605.1 21,644.2 -0.2 pct.
 Semiconductors and
 Electronics Components 3,025.6 3,004.5 0.7 pct.
 Other operations 1,132.2 1,187.9 -4.7 pct.
 Total 29,844.2 29,672.0 0.6 pct.
 Net overseas sales 9,908.7 8,852.0 11.9 pct.
 Background on Fiscal 1992 Results
 Although the U.S. economy gradually moved toward recovery and Asian countries continued to enjoy buoyant economic growth, economic conditions in Japan and in Europe were stagnant during fiscal 1992 and, overall, the global economy turned sluggish. With a considerable decline in private sector investment and consumer spending remaining at low levels, Japan, in particular, has been experiencing a serious recession.
 In regard to the electronics market, the unfavorable economic climate has resulted in a general decline in demand. Moreover, the information processing industry worldwide is in a period of major structural change, as the trends toward rightsizing, open systems, networking and multimedia advance rapidly.
 Under these conditions, as a total systems supplier, the Fujitsu Group is striving to respond to the needs of its customers with a wide range of products, from personal-use products to large-scale systems. Moreover, the group is redoubling its efforts to further globalize its operations and make them more efficient.
 Projections for Fiscal 1993
 Influenced by such factors as the prolongation of the recessionary economy and the further rise in the value of the yen, the prospects are not favorable for the business environment in which the company operates. In order to restore profitability at the earliest possible time and build the basis for long-term growth and profitability, the Fujitsu Group is working to promote rationalization and boost efficiency throughout all of its operations.
 In addition, the company is putting emphasis on the solutions business, utilizing its strengths in constructing information and communications systems and its comprehensive range of services in order to provide solutions to customers' problems. And, as a total supplier of multimedia, Fujitsu is energetically developing new markets in the information and communications fields.
 While consolidated sales are projected to decline by about 5 percent in fiscal 1993 to 3,280 billion yen, net income is expected to recover to about the break even point.
 -0- 5/27/93
 /CONTACT: Michael Solomon, or Robert Pomeroy of Michael Solomon Associates, Inc., 212-764-4814, for Fujitsu Limited/


CO: Fujitsu Limited ST: IN: CPR SU:

LD-OS -- NY005 -- 2787 05/27/93 09:01 EDT
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