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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Fujitsu quarterly profit tumbles, strong yen weighs AFP - Thursday, October 28 Send IM Story Print Fujitsu quarterly profit tumbles, strong yen weighs Slideshow: Full Photo Coverage: Business & Economy TOKYO (AFP) - – Japanese information technology services giant Fujitsu said Wednesday its net profit for the July-September period tumbled 76 percent on-year while sales were hit by the impact of a surging yen. The firm recorded a group net profit of 17.4 billion yen (207 million dollars) for the fiscal second quarter, down 76 percent on-year from 72.4 billion yen, after a huge share-sale gain boosted profits a year earlier. The company used an exchange rate of 84 yen to the dollar. It said sales in the quarter fell 3.7 percent to 1.1 trillion yen on-year, because of the impact of the strong yen, which is hovering near 15-year highs against the dollar. Sales would have risen five percent were it not for the appreciation of the yen and other factors, said the company, which provides technology services for mobile devices and servers. The yen's strength puts Japan's growth-driving exporters at a disadvantage by making their products more expensive overseas and eroding their repatriated earnings. For the full fiscal year through March 2011, Fujitsu maintained its forecast of a net profit of 95 billion yen and an operating profit of 185 billion. But it lowered its revenue outlook to 4.670 trillion yen from the 4.800 trillion it announced in July, blaming a weak economic climate forcing clients to cutback on IT spending in the US and Europe, as well as the yen's strength. Recommend Send IM Story Print Related Articles US-BUSINESS Summary Reuters - 38 minutes ago Wall St falls in stimulus rethink, materials weigh Reuters - 38 minutes ago US STOCKS-Wall St falls in stimulus rethink, materials weigh Reuters - 41 minutes ago Gross, Grantham blast Fed's asset buying Reuters - 43 minutes ago Turkish lira and equities slide, bonds hold firm Reuters - 45 minutes ago News Search Top Stories Ahead of US vote, Republicans set for big gains Deutsche Bank posts sharp loss Conservation hope as vertebrates face extinction Pacific fisheries face collapse by 2035: study Iran begins fuelling Bushehr nuclear reactor More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Spectacular unknown species found in Amazon Paul, World Cup 'psychic' octopus, dies in Germany LVMH increases Hermes stake Pacific fisheries face collapse by 2035: study Conservation hope as vertebrates face extinction More Most Viewed » Time, like all good things, may come to an end: study Too much TV psychologically harms kids: study Spectacular unknown species found in Amazon Iranian chocolate thief 'to have hand chopped off' Ancient galaxy is more than 13 billion light years away More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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