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

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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	33.3	Oct 26, 2023	IFRS
Apr - Sep, 2024	1,696,676	56,395	54,848	35,636	19.4	ー	Oct 31, 2024	IFRS
YoY	-0.9%	+28.5%	-7.5%	-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	1,696,676	56,395	54,848	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	124.9	28	Apr 25, 2024	IFRS
Mar, 2025 New	3,760,000	310,000	ー	212,000	117.1	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	2,044,162	116,358	118,863	217,114	115.7	13	Apr 25, 2024	IFRS
Oct - Mar, 2024 Guidance	2,063,324	253,605	ー	176,364	97.4	14	Oct 31, 2024	IFRS
YoY	+0.9%	+118.0%	－	-18.8%	-15.8%

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	3,756,059	160,260	178,180	254,478	135.6	26	Apr 25, 2024	IFRS
Mar, 2025 Guidance	3,760,000	310,000	ー	212,000	117.1	28	Oct 31, 2024	IFRS
YoY	+0.1%	+93.4%	－	-16.7%	-13.6%

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	4,187	1,654	-11,280	-6.0	0.4	Jan 31, 2024	IFRS
Jan - Mar, 2024	1,113,337	112,171	117,209	228,394	121.7	10.1	Apr 25, 2024	IFRS
Apr - Jun, 2024	830,030	21,387	26,447	16,876	9.2	2.6	Jul 25, 2024	IFRS
Jul - Sep, 2024	866,646	35,008	28,401	18,760	10.2	4.0	Oct 31, 2024	IFRS
YoY	-5.0%	-23.5%	-44.3%	-43.3%	-41.9%