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Fujitsu predicts profit tunaround
TOKYO, Japan -- Japanese computer and chipmaker Fujitsu Ltd said Friday it expects to post a small profit this business year after two straight years of losses. Fujitsu said it was forecasting a group net profit of 30 billion yen ($250 million) for the year to next March on group sales that are tipped to rise to 4.8 trillion yen ($40 billion). The more positive outlook was not enough to stop shares in Fujitsu closing 3.9 percent lower at 322 yen. Its stock hit a record intraday low of 300 yen on April 14. Fujitsu is projecting the value of its chip production will rise to 440 billion yen ($3.67 billion) from last year's 398.3 billion yen. It also expects to produce 6.1 million personal computers and 3.5 million cellphone units in the business year ahead. It sees capital spending rising to 210 billion yen, compared with 148 billion yen last year. But it plans to trim spending on semiconductors from 38 billion yen to 35 billion yen. Fujitsu, like Japan's other chipmaking conglomerates, is seeing modest improvements in its chip business after a record industry downturn in 2001. The subsequent sluggish recovery forced it to make hefty job cuts, close factories and forge alliances with other manufacturers. Fujitsu said parent company sales in the year that ended March 31 reached 2.695 trillion yen ($22.45 billion), down from 3.034 trillion yen a year earlier. On the earnings front, Fujitsu was able to trim group net losses from 382.5 billion yen a year ago to 122.1 billion yen (just over $1 billion) in the year just ended.
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