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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (62345)	3/26/2002 1:36:32 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Fujitsu Targets Return to Profit Next Fiscal Year (Update4) By Minoru Matsutani 03/25 21:17 quote.bloomberg.com Tokyo, March 26 (Bloomberg) -- Fujitsu Ltd., which expects a record $2.85 billion loss in the year ending March 31, said a rise in software services sales and savings through job cuts will probably result in a return to profit next fiscal year. ``We need to post between 100 billion and 150 billion yen profit to proclaim recovery in earnings,'' said Takashi Takaya, a senior executive vice president at Fujitsu, confirming part of a report earlier today in the Nihon Keizai newspaper. Fujitsu expects an operating loss of 75 billion yen this business year. Fujitsu, whose shares tumbled 43 percent last year, must convince investors losses can be stemmed by relying less on hardware sales. While the company last year announced 21,900 job cuts, Fujitsu and its rivals are hiring software engineers in a bid to tap Japan's $64 billion computer services market.