Technology and IT services giant Fujitsu Ltd has raised its sales and profit forecasts for the first half of its current fiscal year, following a strong performance by its international IT services operation.
For the six months ended September 30, 2006, the Tokyo-based company expects to report consolidated net profit of JPY 14.8bn ($124m), up from its earlier forecast of JPY 5bn ($42m). However, Fujitsu is also recording a loss of JPY 9.3bn ($78m) for the first half in relation to the devaluation of some of its subsidiaries’ stock.
Consolidated revenue is expected to come in at JPY 2,362bn ($19.8bn), up slightly on the JPY 2,350bn ($19.7bn) it forecast in July. Fujitsu said that its IT services operation had performed better than expected outside Japan, while there were also impressive contributions from its electronic components, hard disc drive, and network equipment units, as well as its domestic systems integration activities.