Fujitsu 2005 Annual Report Download - page 7

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5
Annual Report 2005
In the past year, we essentially resolved our biggest
problem—loss-generating projects. Our goal now is
to rapidly build a robust financial
structure, giving us the base we need
to prevail over the increasingly
intense competition in our markets.
■ Rapidly Building a Robust Financial Base
We are making good progress in creating the strong financial base we need to take on our increasingly competi-
tive rivals. Determined to ensure we build a sound financial position for Fujitsu, I set the target of reducing the
balance of interest-bearing loans to less than ¥1,100.0 billion by the end of fiscal 2004. Despite a challenging
operating environment, we kept a tight rein on our financial position and were able to achieve our target—as of
March 31, 2005, interest-bearing loans totaled ¥1,082.7 billion. At the same time, we aggressively implemented a
range of other measures, including the booking of an allowance for deferred tax assets, leading to improvement
in the total asset turnover and debt-equity ratios and other financial indices. Combined, these efforts are steadily
leading to the creation of a healthier financial structure.
In parallel with efforts to streamline assets, we are actively channeling capital investment into new growth
fields. In fiscal 2005, plans call for capital expenditure of ¥260 billion in Electronic Devices and other segments,
an increase of more than 40% year on year.
5
Annual Report 2005