Fujitsu reported a consolidated net income of 12.3 billion yen (US$126 million), an increase of 1.2 billion yen compared to the second quarter of fiscal 2012. Operating income for the first-half of fiscal 2013 was an improvement over July projections by over 20 billion yen.
Net sales for the second quarter of fiscal 2013 were 1,152.3 billion yen (US$11,758 million), an increase of 3.4% from the same period of fiscal 2012, mainly as a result of foreign exchange fluctuations. Sales in Japan declined by 6.7%.
Sales in system integration services grew, although sales of mobile phones declined. Sales outside of Japan rose 25.1%. Excluding the impact of foreign exchange fluctuations, sales rose by 2%. Sales of optical transmission systems and car audio and navigation systems in North America increased, as did LSI devices and electronic components.
Fujitsu recorded an operating income of 33.6 billion yen (US$343 million), an improvement of 2.5 billion yen from the previous fiscal year's second quarter. While there was the adverse impact stemming from lower sales of mobile phones, the improvement was primarily due to the impact of workforce-related measures and structural reforms in LSI devices business and businesses outside Japan.
There was a loss of 4.8 billion yen in other income and expenses, essentially unchanged from the previous fiscal year. The company posted 3.8 billion yen in other expenses, comprised of personnel-related expenses, primarily in its businesses outside Japan, and restructuring expenses for its LSI device business. On the other hand, there were improvements in foreign currency translation adjustment and other items.
"I am pleased to announce that we were able to beat the operating income target for the first half of fiscal 2013," commented Masami Yamamoto, President of Fujitsu Limited. "We saw solid contributions from structural reforms in the LSI devices business and businesses outside Japan as well as workforce-related measures. We will continue to pursue these initiatives for further profitable growth going forward."
