Fujitsu is in bad shape, posts $1.1 billion net loss


Fujitsu is having some serious problems. The company today announced in Tokyo (press release in English) it swung into a net loss of a whopping $1.1 billion in net loss in the fiscal year that ended March 31. Sales fell 12% to $46 billion in the same time frame.

Fujitsu booked a net profit of $480 million in the previous fiscal year. The company specifically blames weak sales of computers, HDDs, electronic parts and microchips for gadgets for the new numbers.

Three things are especially remarkable. First, Fujitsu sales nosedived from October to December in particular. Second, the company said in January net loss will not exceed $200 million (who is doing the accounting work there?). Third, the company sees a brighter future as early as the current fiscal year, expecting sales of $48 bilion and a net profit of $200 million.