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FUJITSU LIMITED, The Current Fiscal Year Net Income Revised Downward by 6%

Thu Oct 31, 2024 3:00 pm JST Earnings

6702 FUJITSU LIMITED 【IFRS】

Earnings Report

FUJITSU LIMITED <6702> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 31st (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) decreased by 4.6% from the same period last year to 35.6 billion yen.

In addition, the full-year consolidated net income has downwardly by 6.2%, from the previous forecast of 226 billion yen to 212 billion yen (compared to 254 billion yen in the previous period), leading to an increase in the profit decline rate from 11.2% to 16.7%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 18.8% from the same period last year to 176 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income dropped to 18.7 billion yen, a 43.3% decrease compared to the same period last year. The operating profit margin worsened from 5.0% in the same period last year to 4.0%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 1,705,311 100,969 130,650 71,981 36.6 35.1 Oct 27, 2022 IFRS
Apr - Sep, 2023 1,711,897 43,902 59,317 37,364 19.8 35.8 Oct 26, 2023 IFRS
Apr - Sep, 2024 1,552,182 43,000 43,363 35,636 19.4 ー Oct 31, 2024 IFRS
YoY -9.3% -2.1% -26.9% -4.6% -2.2%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance ー ー ー ー － 14 Apr 25, 2024 IFRS
Apr - Sep, 2024 Results 1,552,182 43,000 43,363 35,636 19.4 14 Oct 31, 2024 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 3,760,000 330,000 ー 226,000 127.2 28 Apr 25, 2024 IFRS
Mar, 2025 New 3,760,000 310,000 ー 212,000 119.3 28 Oct 31, 2024 IFRS
Revision Rate 0.0% -6.1% － -6.2% -6.2%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 1,765,088 105,424 106,293 217,114 115.7 13 Apr 25, 2024 IFRS
Oct - Mar, 2024 Guidance 2,207,818 267,000 ー 176,364 99.2 14 Oct 31, 2024 IFRS
YoY +25.1% +153.3% － -18.8% -14.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 3,713,767 335,614 371,876 215,182 110.8 24 Apr 27, 2023 IFRS
Mar, 2024 3,476,985 149,326 165,610 254,478 135.6 26 Apr 25, 2024 IFRS
Mar, 2025 Guidance 3,760,000 310,000 ー 212,000 119.3 28 Oct 31, 2024 IFRS
YoY +8.1% +107.6% － -16.7% -12.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 912,257 45,782 50,960 33,115 17.6 5.0 Oct 26, 2023 IFRS
Oct - Dec, 2023 930,825 2,638 105 -12,074 -6.4 0.3 Jan 31, 2024 IFRS
Jan - Mar, 2024 834,263 102,786 106,188 229,188 122.1 12.3 Apr 25, 2024 IFRS
Apr - Jun, 2024 759,286 14,331 19,888 16,876 9.2 1.9 Jul 25, 2024 IFRS
Jul - Sep, 2024 792,896 28,669 23,475 18,760 10.2 3.6 Oct 31, 2024 IFRS
YoY -13.1% -37.4% -53.9% -43.3% -41.9%

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