Fujitsu sees net income cut by half

Fujitsu's sales were up 4.5 per cent year on year

Japanese computer manufacturing giant Fujitsu reported annual net income for 2007 as 48.1bn yen (£238m) – 54.3bn yen (£269m) less than the record income of 102.4bn yen (£507m) reported in 2006.

The company blamed one-off profits from sale of shares in its internet service provider subsidiary Nifty Corporation and industrial electronics specialist Fanuc in 2006 for the disparity.

The firm also referred to a 72.7bn yen (£360m) loss caused by accounting changes, restructuring expenses, and a decline in the value of its shareholdings during 2007.

“Fiscal 2007 was a pivotal year in positioning Fujitsu for future growth and profitability,” said Fujitsu president Hiroaki Kurokawa in a statement.

Revenue was up 4.5 per cent year on year to 5,331bn yen (£26.4bn) with operating income up 12.6 per cent to 205bn yen (£1bn). Fujitsu cited strong global sales of Unix and x86 servers and PCs, and mobile phones in Japan.