Fujitsu in red for past fiscal year on semiconductor-sales decline
Tokyo - Fujitsu Ltd said Thursday that it fell into the red in the past fiscal year because of a drop in semiconductor sales and losses incurred in its hard-disk-drive division.
The Japanese electronics company suffered a net loss of 112.39 billion yen (1.16 billion dollars) in the year that ended March 31, a turnaround from a profit the year before of 48.1 billion yen.
Its operating profit plunged 66.5 per cent to 68.77 billion yen, and its sales dropped 12 per cent to 4.69 trillion yen, the firm said.
For the current fiscal year, Fujitsu said it expected to return to the black with a net profit of 20 billion yen, an operating profit of 80 billion yen and sales of 4.8 trillion yen.