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Fujitsu Reports 44.9% Decline in Annual Net

May 26, 1987

TOKYO — Fujitsu Ltd., Japan's largest computer maker, Monday reported a 44.9% profit decline in the year ended March 31 but predicted a recovery that will boost net profit 59.5% in the present year.

It said it expects a profit of $185 million for the year ending March 31, 1988. This forecast assumes a yen-dollar rate of 140-1, director Iwao Kazuki told a press conference.

Sales in 1987-88 are estimated at $12.1 billion, up 14.7%.

The company reported a 1986-87 net profit of $115 million, down 44.9% from a year earlier, on sales up 3.7% to $10.5 billion.

The yen's appreciation against the dollar, to an average 158 to the dollar in 1986-87 from 220 in 1985-86, reduced the value of 1986-87 sales by $487 million at 158 yen, Kazuki said.

Computer and computer-related equipment division sales, which accounted for 74.3% of total sales, rose 4.8% from a year earlier. Telecommunication equipment sales, accounting for 15.6% of the total, rose 5.7%.

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