Commenting on its net sales equivalent to $30,500m for the year ending in March 1994, Fujitsu notes that in yen, the figure was a decline of 9.3% from last year. Consolidated operating profit for the year increased by 61% to $1,003m; however due largely to Amdahl Corp’s restructuring costs, there was a consolidated net loss of $365.7m, up from $32.6m in the 1992 fiscal year. Overseas sales declined by 19.5% to $9,000m, down as a share of total sales to 29.5% from 33.2% last year. Sales in the computers and information systems division fell by 14.6%, while sales in the communications systems and semiconductors and electronic component divisions grew by 3.1% and 12.4% respectively. Fujitsu says that in the information processing and communications markets, its poor results were the result of a combination of factors, including the continuing difficult economic conditions as well as structural shifts to downsizing and open systems. Conditions in the US mainframe market were particularly poor, it said. Unconsolidated results however showed a better picture, with a parent company net profit of $165.5m. For the coming year, Fujitsu predicts unconsolidated sales will rise 1% to $22,000m, while net profit will rise 76% to $300m; on a consolidated basis the prediction is for turnover to rise 3% to $32,200m and net profit static at $300m.
