Japan's Fujitsu boosts profit outlook on weak yen
Japan's Fujitsu on Friday boosted its full-year net profit forecast thanks to a sharp fall in the yen, despite its April-December earnings falling from a year ago.
The sprawling information technology company said its fiscal year to March net profit would be 132 billion yen ($1.12 billion), up from an earlier 125 billion yen forecast, citing the "beneficial impact" of a weaker yen.
The company is expecting full-year revenue of 4.8 trillion yen.
A fall in the Japanese currency helps make exporters more competitive overseas and inflates the value of their repatriated profits.
Fujitsu said its net profit for the nine months to December slipped 11.6 percent, while sales inched up 0.4 percent to 3.36 trillion yen.
Revenue was held back by weak sales of mobile phones and network products such as telecom systems for mobile carriers, it said.
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