Fujitsu says profit soars 24% on weak Yen
For the year to March 2016, Fujitsu forecasted a weaker net profit of 100 billion yen
TOKYO (AFP) - Fujitsu said Thursday that its annual net profit jumped 24 percent, as a weak yen boosted its bottom line although it expects profits to decline this year.
The sprawling Japanese information technology company posted a 140 billion yen ($1.2 billion) gain in the fiscal year to March, up from 113.2 billion yen a year earlier, while operating profit jumped 21.3 percent to 178.6 billion yen.
A fall in the Japanese currency helps make exporters more competitive overseas and inflates the value of repatriated profits.
But the company s full-year revenue came to 4.75 trillion yen, down 0.2 percent, as it took a hit in its home market, particularly in smartphones and personal computers, as a sales tax rise in Japan last year hammered consumer spending.
For the year to March 2016, Fujitsu forecasted a weaker net profit of 100 billion yen on sales of 4.85 trillion yen.
