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FINANCIAL DATA
0
2,000
6,000
4,000
2010 20122011 2013 2014
4,679.5
37.4
37.8
4,381.7
34.2
4,467.5
4,528.4
35.1 33.7
60
40
20
0
4,762.4
0
1,000
4,000
3,000
2,000
2010 20122011 2013 2014
2.0
1.5
1.0
0.5
0
3,079.5
3,228.0
1.04 1.07
2,920.3
1.00
2,945.5
3,024.0
1.02 1.01
–50
–100
100
50
2010 20122011 2013 2014
48.6
0
93.0
-79.9
42.7
55.0
0
50
150
100
2010 20122011 2013 2014
6
4
2
0
142.5
94.3 88.2
105.3
132.5
2.0
3.0
2.0
2.9 2.4
0
250
1,000
500
750
2010 20122011 2013 2014
60
45
30
15
0
573.2
798.6
624.0
841.0
821.2
24.7 21.4
27.2 28.6
18.6
296.4
49.1
113.4
-100
-200
0
300
100
200
2010 20122011 2013 2014
46.6
-90.4
(¥ Billions) (%)
(¥ Billions) (Times)
(¥ Billions)
(¥ Billions) (%)
(¥ Billions) (%)
(¥ Billions)
(Years ended March 31)
(As of March 31)
(Years ended March 31)
(Years ended March 31)
(As of March 31)
(Years ended March 31)
Net sales (left scale)
Ratio of sales outside Japan (right scale)
Total assets (left scale)
Monthly inventory turnover rate (right scale)
Operating income (left scale)
Operating income margin (right scale)
Owners’ equity (left scale)
Owners’ equity ratio (right scale)
Overall sales increased 8.7% year on year. Excluding the impact of foreign
exchange fluctuations, sales increased by 2.0%. The overseas sales ratio
climbed 3.6 percentage points to 37.8% due to the effect of foreign currency
exchange rates.
Total assets increased by approximately ¥160 billion from the end of the
previous fiscal year due to the yen’s depreciation. The monthly inventory
turnover rate was improved by 0.07 times from the end of fiscal 2012.
Fujitsu posted an extraordinary loss of ¥59.3 billion, although this was offset by a
recovery on the business front, with a ¥128.5 billion year-on-year increase in
income that exceeded the initial forecast.
The operating income margin improved 1.0 percentage point, mainly due to
the effects of higher sales in the Technology Solutions segment, structural
reforms, and workforce-related measures.
The owners’ equity ratio declined to 18.6% primarily as a result of bringing the
unrecognized obligation for retirement benefits for plans, both in and outside of
Japan, onto the balance sheet.
Driven by a strong recovery in net profit, free cash flow saw a significant increase
in net cash inflows of ¥137.1 billion compared with fiscal 2012. Excluding one-
time items such as the special contribution to the defined benefit corporate
pension fund of a UK subsidiary, free cash flow in fiscal 2013 would have been
positive ¥14.4 billion, a year-on-year increase of ¥6.0 billion, largely unchanged
from the previous fiscal year.
NET SALES AND RATIO OF SALES OUTSIDE JAPAN
TOTAL ASSETS AND MONTHLY INVENTORY TURNOVER RATE
NET INCOME (LOSS)
OPERATING INCOME AND OPERATING INCOME MARGIN
OWNERS’ EQUITY/OWNERS’ EQUITY RATIO
FREE CASH FLOW
Up
Up
Up
Up
Up
Down
Overseas Sales Ratio +3.6 percentage points
Monthly Inventory Turnover Rate +0.07 times
Net Income (Loss) Change of +¥128.5 billion
Operating Income Margin +1.0 percentage point
Owners’ Equity Ratio –2.8 percentage points
Free Cash Flow +¥137.1billion
014 FUJITSU LIMITED ANNUAL REPORT 2014
PERFORMANCE HIGHLIGHTS