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Contact:
Yuri Momomoto or Scott Ikeda
Fujitsu Limited, Public and Investor Relations
Tel (+81-3) 6252-2174
FOR IMMEDIATE RELEASE
July 29, 2003
Fujitsu Reports FY2003 First-Quarter Financial Results
  1. Summary of Consolidated Results (Three months ended June 30)
  1. Summary of Consolidated Statements of Operations
Yen
(millions)
(except per share data)
U.S. Dollars
(millions)

(except per share data)

2003 2002 Change(%)
2003
Net sales Y 938,738 Y 982,994 -4.5
$ 7,823
Operating loss (37,886) (29,070) -
(316)
Loss before income taxes
  and minority interests
(32,853) (77,107) -
(274)
Net loss (39,808) (56,428) -
(332)






Net loss
  per common share, basic
Y(19.90) Y(28.19) -
$ (0.166)

  1. Summary of Consolidated Financial Condition
Yen
(millions)
U.S. Dollars
(millions)

June 30 March 31 June 30

2003 2002
2003
Total assets Y 4,056,251 Y 4,225,361
$ 33,802
Shareholders' equity 679,471 702,390
5,662
Shareholders' equity ratio 16.8 % 16.6 %

  1. Summary of Consolidated Statements of Cash Flows
Three months ended June 30
Yen
(millions)
U.S. Dollars
(millions)


2003 2002
2003
Cash flows from operating activities Y (85,902) Y (94,364)
$ (716)
Cash flows from investing activities 5,566 (53,338)
47
Cash flows from financing activities 69,719 192,163
581
Cash and cash equivalents
  at end of period
272,623 339,267
$ 2.272

  1. Projections for FY2003 (April 1, 2003 - March 31, 2004)
Consolidated Earnings Forecast
Yen
(billions)
Change(%)

FY2003 (Forecast) FY2002 (Actual)
FY02 to FY03
Net sales Y 4,800.0 Y 4,617.5
+4.0
Operating income 150.0 100.4
+49.4
Net income (loss) 30.0 (122.0)
-

Note: All yen figures have been converted to U.S. dollars for convenience only at a uniform rate of $1=120 yen.
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