April 25, 2024
FY 2023 Full-Year Financial Results
April 1, 2023 - March 31, 2024
Fujitsu Limited
Consolidated Financial Results for the full year Ended March 31, 2024[Prepared on the basis of International Financial Reporting Standards]
Company name | : | Fujitsu Limited |
Stock exchange listings | : | Tokyo, Nagoya |
Code number | : | 6702 |
URL | : | https://www.fujitsu.com/ |
Representative | : Takahito Tokita, President and Representative Director | |
Contact person | : | Kunihiko Nomoto, |
Head of Public and Investor Relations Division | ||
Tel. +81 44 754 5778 | ||
Scheduled annual shareholders'meeting date | : | June 24, 2024 |
Scheduled dividend payment date | : | June 3, 2024 |
Scheduled filing date of statutory financial report | : | June 24, 2024 |
Supplementary material | : | Yes |
Financial results meeting | : Yes (for media and analysts) |
FujitsuLimited
April 25, 2024
1. Consolidated Results for the Full-Year Ended March 31, 2024
(Monetary amounts are rounded to the nearest million yen.)
(1) Consolidated financial results
(The percentage figures represent the percentage of increase or decrease against the previous year.)
(Millions of yen) | ||||||||||||
Revenue | Operating profit | Profit before income | Profit for the year | Profit for the year attributable | ||||||||
Change (%) | Change (%) | taxes | Change (%) | Change (%) | to owners of | Change (%) | ||||||
the parent | ||||||||||||
FY 2023 | 3,756,059 | 1.1 | 160,260 | -52.2 | 178,180 | -52.1 | 266,680 | 8.9 | 254,478 | 18.3 | ||
(4/1/23-3/31/24) | ||||||||||||
FY 2022 | 3,713,767 | 3.5 | 335,614 | 53.1 | 371,876 | 55.0 | 244,865 | 14.9 | 215,182 | 17.8 | ||
(4/1/22-3/31/23) | ||||||||||||
(Adjusted Items) | ||||||||||||
FY 2023 | ― | (△ 123,425) | - | (18,676) | - | |||||||
(4/1/23-3/31/24) | ||||||||||||
FY 2022 | ― | (14,753) | - | (11,043) | - | |||||||
(4/1/22-3/31/23) | ||||||||||||
(Adjusted Consolidated Results) | ||||||||||||
FY 2023 | 3,756,059 | 1.1 | 283,685 | - 11.6 | 235,802 | 15.5 | ||||||
(4/1/23-3/31/24) | ||||||||||||
FY 2022 | 3,713,767 | 3.5 | 320,861 | ― | 204,139 | ― | ||||||
(4/1/22-3/31/23) | ||||||||||||
(Note) Adjusted operating profit: an indicator of the real profits from the business, in which one-time gains or losses from such activities(adjusted items) as business restructurings, acquisitions or divestitures, and institutional changes are subtracted from operating profit.
(Note) Adjusted profit: an indicator of the profits from the business, in which one-time gains or losses from such activities(adjusted items) as business restructurings, acquisitions or divestitures, institutional changes, and taxes related to these activities are subtracted from profit for the year attributable to owners of the parent.
Total comprehensive income | |||||
for the year | Change (%) | ||||
FY 2023 | 332,127 | 51.4 | |||
(4/1/23-3/31/24) | |||||
FY 2022 | 219,344 | -16.6 | |||
(4/1/22-3/31/23) | |||||
Earnings per share(Yen) | Return on Equity | Ratio of Profit before | Ratio of Operating Profit | ||
Attributable to Owners | Income Taxes to Total | to Revenue (%) | |||
Basic | Diluted | of the Parent (%) | Assets (%) | ||
FY 2023 | 135.59 | 135.34 | 15.2 | 5.3 | 4.3 |
(4/1/23-3/31/24) | |||||
FY 2022 | 110.76 | 110.54 | 13.5 | 11.3 | 9.0 |
(4/1/22-3/31/23) | |||||
[Reference] Income from investments accounted for using the equity method: FY2023:11,144 million yen FY2022: 28,037
(Note) On April 1, 2024, Fujitsu implemented a stock split, in which each share was converted into ten shares. Basic Earnings per Share and Diluted Earnings per Share have been calculated on the basis that the stock split had been conducted at the beginning of the previous consolidated fiscal year.
(2) Consolidated financial position
(Millions of yen, except per share data)
Equity | Equity | Equity per Share | |||
Total assets | Total equity | attributable to | attributable to | ||
Attributable to | |||||
owners of the | owners of the | ||||
Owners of the Parent | |||||
parent | parent ratio | ||||
March 31, 2024 | 3,514,818 | 1,918,834 | 1,752,393 | 49.9% | 952.76 |
March 31, 2023 | 3,265,579 | 1,736,823 | 1,586,835 | 48.6% | 842.54 |
(Note) On April 1, 2024, Fujitsu implemented a stock split, in which each share was converted into ten shares. Equity per Share Attributable to Owners of the Parent has been calculated on the basis that the stock split had been conducted at the beginning of the previous consolidated fiscal year.
(3) Consolidated Cash Flows
(Millions of yen)
Cash Flows | Cash Flows | Cash Flows | Cash and | |
Cash | ||||
from Operating | from Investing | from Financing | ||
Equivalents at | ||||
Activities | Activities | Activities | End of Year | |
FY 2023 | 309,221 | -157,239 | -181,488 | 342,139 |
(4/1/23-3/31/24) | ||||
FY 2022 | 220,329 | -42,809 | -313,585 | 355,901 |
(4/1/22-3/31/23) | ||||
2. Dividends per Share (Ordinary Shares)
Dividends per share(Yen) | Total Amount of | Dividend Payout | Ratio of Dividends | |||||
Dividends (Millions | ||||||||
1Q | 2Q | 3Q | Year-end | Full year | Ratio (%) | to Net Assets (%) | ||
of yen) | ||||||||
FY2022 | - | 120.00 | - | 120.00 | 240.00 | 46,195 | 21.7 | 2.9 |
FY2023 | - | 130.00 | - | 130.00 | 260.00 | 48,409 | 19.2 | 2.9 |
FY2024(Forecast) | - | 14.00 | - | 14.00 | 28.00 | 23.3 |
(Note) On April 1, 2024, Fujitsu implemented a stock split, in which each share was converted into ten shares. Dividends prior to the fiscal year ending FY2023 are recorded at their actual dividend values before this stock split.
3. Consolidated Earnings Forecast for FY2024
(The percentage figures represent the percentage of increase or decrease against the previous year.)
(Millions of yen, except per share data)
Revenue | Operating Profit | Profit for the year attributable | Basic earnings | ||||
to owners of | |||||||
Change (%) | Change (%) | Change (%) | per share | ||||
the parent | |||||||
FY2024 | 3,760,000 | 0.1 | 330,000 | 16.3 | 226,000 | -4.2 | 122.87 |
(Note) On April 1, 2024, Fujitsu implemented a stock split, in which each share was converted into ten shares. Basic earnings per share in the consolidated earnings forecast for fiscal year ending March 31, 2025, takes into account the effect of this stock split.
(Note) The calculation of the basic earnings per share does not include the effects of the repurchase of shares of the Company's own stock that was decided by Fujitsu's Board of Directors
on April 25, 2024.
4. Other Information
(1) Significant changes to subsidiaries in the current fiscal year
(Changes to specified subsidiaries resulting from changes in scope of consolidation): None
- Changes in accounting policies and accounting estimates
- Changes in accounting policies required by IFRS: None
- Changes arising from factors other than 1: None
- Changes in accounting estimates: None
- Number of issued shares (ordinary shares)
1. | Number of issued shares | As of March 31, 2024 | 2,071,108,450 |
at end of period | As of March 31, 2023 | 2,070,018,210 | |
2. | Treasury stock held | As of March 31, 2024 | 231,822,460 |
at end of period | As of March 31, 2023 | 186,616,730 | |
3. | Average number of shares | Full-Year FY 2023 | 1,876,873,485 |
during period | Full-Year FY 2022 | 1,942,731,393 |
(Note) On April 1, 2024, Fujitsu implemented a stock split, in which each share was converted into ten shares. The number of issued shares at end of period, treasury stock held at end of period, and average number of shares during period are calculated on the basis that the stock split had been conducted at the beginning of the previous consolidated fiscal year.
(Reference Information) Summary of FY2023 Full-Year Separate Financial Results
(Monetary amounts less than one million yen are rounded down.) Separate Results for the Full-Year Ended March 31, 2024
(1) Separate Financial Results
(Millions of yen)
Net Sales | Operating Income | Ordinary income | Net Income(Loss) | |||||
Change (%) | Change (%) | Change (%) | Change (%) | |||||
FY 2023 | 1,851,493 | 2.6 | 121,099 | 16.7 | 133,633 | - 6.9 | 223,606 | 24.7 |
(4/1/23-3/31/24) | ||||||||
FY 2022 | 1,804,001 | 3.5 | 103,737 | 16.4 | 143,566 | -12.0 | 179,277 | -10.9 |
(4/1/22-3/31/23) | ||||||||
(Yen) | ||||||||
Net Income (Loss) per | ||||||||
Common Share-Basic | ||||||||
FY 2023 | 119.13 | |||||||
(4/1/23-3/31/24) | ||||||||
FY 2022 | 92.28 | |||||||
(4/1/22-3/31/23) | ||||||||
(Note) On April 1, 2024, Fujitsu implemented a stock split, in which each share was converted into ten shares. Basic earnings per share have been calculated on the basis that stock split had been conducted at the beginning of the previous fiscal year.
(2) Separate Financial Position
(Millions of yen, except per share data)
Total assets | Net Assets | Owners' Equity | Net Assets per | |
Ratio (%) | Share | |||
March 31, 2024 | 1,972,275 | 1,166,506 | 59.1 | 634.21 |
March 31, 2023 | 1,892,051 | 1,116,916 | 59.0 | 593.03 |
[Reference] Owners' Equity: March 31, 2024; 1,166,506 million yen March 31, 2023; 1,116,916 million yen
(Note) On April 1, 2024, Fujitsu implemented a stock split, in which each share was converted into ten shares. Net assets per share have been calculated on the basis that the stock split had been conducted at the beginning of the previous fiscal year.
Notes
- This financial report is not subject to audits by certified public accountants or auditing corporations.
- Precautions on usage of earnings projections.
These materials may contain forward-looking statements that are based on management's current information, views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results may differ materially from those projected or implied in the forward-looking statements due to, without limitation, the following factors listed below.
- General economic and market conditions in key markets
(Particularly in Japan, Europe, NorthAmerica, Oceania, and Asia, including China)
- Fluctuations in exchange rates or interest rates
- Fluctuations in capital markets
- Intensifying price competition
- Changes in market positioning due to competition in R&D
- Changes in the environment for the procurement of parts and components
- Changes in competitive relationships due to collaborations, alliances and technical provisions
- Risks related to public regulations, public policy and tax matters
- Risks related to product or services defects
- Potential emergence of unprofitable projects
- Risks related to R&D investments, capital expenditures, business acquisitions, business restructuring, etc.
- Risks related to natural disasters and unforeseen events
- Changes in accounting policies
For information regarding the assumptions used to prepare these projections, please refer to "FY2023 Consolidated Financial Results" (Presentation Material) separately disclosed today. Also, for the full-year ended March 31, 2024, there was a difference between the previous earnings forecast and the actual results, whose details are described on page 52 of this document.
Financial Tables
1. Consolidated Statement of Financial Position
(Millions of yen) | |||||
Notes | FY2022 | FY2023 | |||
(As of March 31, 2023) | (As of March 31, 2024) | ||||
Assets | |||||
Current assets | |||||
Cash and cash equivalents | 355,901 | 342,139 | |||
Trade receivables | 927,849 | 928,727 | |||
Other receivables | 84,766 | 87,068 | |||
Contract assets | 125,442 | 140,513 | |||
Inventories | 337,008 | 298,804 | |||
Others | 86,858 | 99,180 | |||
Total current assets | 1,917,824 | 1,896,431 | |||
Non-current assets | |||||
Property, plant and equipment, net of accumulated depreciation | 572,172 | 602,928 | |||
Goodwill | 55,132 | 80,205 | |||
Intangible assets | 146,264 | 213,405 | |||
Investments accounted for using the equity method | 155,594 | 160,809 | |||
Other investments | 195,463 | 137,750 | |||
Retirement benefit assets | 81,883 | 115,487 | |||
Deferred tax assets | 73,310 | 218,922 | |||
Others | 67,937 | 88,881 | |||
P Total non-current assets | 1,347,755 | 1,618,387 | |||
Total assets | 3,265,579 | 3,514,818 | |||
Liabilities and equity | |||||
Liabilities | |||||
Current liabilities | |||||
Trade payables | 463,730 | 455,453 | |||
Other payables | 367,399 | 380,591 | |||
Contract liabilities | 194,455 | 204,478 | |||
Short-term borrowings, current portion of long-term debt | 103,577 | 136,692 | |||
and lease obligations | |||||
Accrued income taxes | 85,079 | 43,765 | |||
Provisions | 35,015 | 58,988 | |||
Others | 27,201 | 31,175 | |||
Total current liabilities | 1,276,456 | 1,311,142 | |||
Non-current liabilities | |||||
Long-term debt and lease obligations | 107,598 | 108,984 | |||
Retirement benefit liabilities | 95,388 | 104,205 | |||
Provisions | 20,654 | 27,005 | |||
Deferred tax liabilities | 5,612 | 15,196 | |||
Others | 23,048 | 29,452 | |||
Total non-current liabilities | 252,300 | 284,842 | |||
Total liabilities | |||||
1,528,756 | 1,595,984 | ||||
Equity | |||||
Share capital | 324,625 | 325,638 | |||
Capital surplus | 242,512 | 239,856 | |||
Treasury stock, at cost | -277,702 | -380,881 | |||
Retained earnings | 1,226,595 | 1,487,397 | |||
Other components of equity | 70,805 | 80,383 | |||
Total equity attributable to owners of the parent | 1,586,835 | 1,752,393 | |||
Non-controlling interests | 149,988 | 166,441 | |||
Total equity | 1,736,823 | 1,918,834 | |||
Total liabilities and equity | 3,265,579 | 3,514,818 | |||
- 1 -
2. Consolidated Statement of Profit or Loss and Consolidated Statement of Comprehensive Income
【Full-Year Consolidated Statement of Profit or Loss】 | (Millions of yen, except per share data) | |||
FY2022 | FY2023 | |||
Notes | (For the full-year | (For the full-year | ||
ended March 31, | ended March 31, | |||
2023) | 2024) | |||
Revenue | 3,713,767 | 3,756,059 | ||
Cost of sales | -2,569,685 | -2,591,250 | ||
Gross profit | 1,144,082 | 1,164,809 | ||
Selling, general and administrative expenses | -852,974 | -904,599 | ||
Other income | 85,411 | 34,593 | ||
Other expenses | -40,905 | -134,543 | ||
Operating profit | 335,614 | 160,260 | ||
Financial income | 15,087 | 13,759 | ||
Financial expenses | -6,862 | -6,983 | ||
Income from investments accounted for using the equity method, net | 28,037 | 11,144 | ||
Profit for the year before income taxes | 371,876 | 178,180 | ||
Income tax expenses | -127,011 | 88,500 | ||
Profit for the year | 244,865 | 266,680 | ||
Profit for the year attributable to: | ||||
Owners of the parent | 215,182 | 254,478 | ||
Non-controlling interests | 29,683 | 12,202 | ||
Total | 244,865 | 266,680 | ||
Earning per share | 5-3 | |||
Basic earnings per share (Yen) | 110.76 | 135.59 | ||
Diluted earnings per share (Yen) | 110.54 | 135.34 | ||
【Full-Year Consolidated Statement of Comprehensive Income】 | (Millions of yen) | |||
FY2022 | FY2023 | |||
Notes | (For the full-year | (For the full-year | ||
ended March 31, | ended March 31, | |||
2023) | 2024) | |||
Profit for the year | 244,865 | 266,680 | ||
Other comprehensive income | ||||
Items that will not be reclassified to profit or loss |
Financial assets measured at fair value through other comprehensive income
Remeasurement of defined benefit plans
Share of other comprehensive income of investments accounted for using the equity method
Items that may be reclassified subsequently to profit or loss
Foreign currency translation adjustments
Cash flow hedges
Share of other comprehensive income of investments accounted for using the equity method
17,770 | 35,088 |
-41,784 | 5,040 |
122 | 645 |
-23,892 | 40,773 |
-2,771 | 21,899 |
412 | -153 |
730 | 2,928 |
-1,629 | 24,674 |
Total other comprehensive income for the year, net of taxes
Total comprehensive income for the year Total comprehensive income attributable to:
Owners of the parent Non-controlling interests Total
-25,52165,447
219,344332,127
188,329317,878
31,01514,249
219,344332,127
- 2 -
3. Consolidated Statement of Changes in Equity
(Millions of yen)
Equity attributable to owners of the parent
Balance at April 1, 2022
Profit for the year
Other comprehensive income
Total comprehensive income for the year
Purchase of treasury stock
Disposal of treasury stock
Share-based payment transactions
Dividends paid
Transfer to retained earnings
Acquisition (disposal) of non-controlling interests
Changes in ownership interests in subsidiaries
Others
Balance at March 31, 2023
Profit for the year
Other comprehensive income
Total comprehensive income for the year
Purchase of treasury stock
Disposal of treasury stock
Share-based payment transactions
Dividends paid
Transfer to retained earnings
Acquisition (disposal) of non-controlling interests
Changes in ownership interests in subsidiaries
Others
Balance at March 31, 2024
Notes Share | Capital | Treasury | Retained | Other | Non- | ||||||||||
stock, | components | Total | controlling | Total equity | |||||||||||
capital | surplus | earnings | |||||||||||||
at cost | of equity | interests | |||||||||||||
324,625 | 243,048 | -128,897 | 1,088,429 | 63,508 | 1,590,713 | 125,036 | 1,715,749 | ||||||||
- | - | - | 215,182 | - | 215,182 | 29,683 | 244,865 | ||||||||
- | - | - | - -26,853-26,853 | 1,332 | -25,521 | ||||||||||
- | - | - | 215,182 | -26,853 | 188,329 | 31,015 | 219,344 | ||||||||
- | - | -150,103 | - | - | -150,103 | - | -150,103 | ||||||||
- | 1 | 2 | - | - | 3 | - | 3 | ||||||||
- | 1,858 | 1,296 | - | - | 3,154 | - | 3,154 | ||||||||
- | - | - | -45,210 | - | -45,210 | -4,571 | -49,781 | ||||||||
- | - | - | -34,077 | 34,077 | - | - | - | ||||||||
- | -32 | - | - | -32 | -1,477 | -1,509 | |||||||||
- | 648 | -721 | 73 | - | -103 | -103 | |||||||||
- | -3,011 | 2,992 | - | -19 | 88 | 69 | |||||||||
324,625 | 242,512 | -277,702 | 1,226,595 | 70,805 | 1,586,835 | 149,988 | 1,736,823 | ||||||||
- | - | - | 254,478 | - | 254,478 | 12,202 | 266,680 | ||||||||
- | - | - | - | 63,400 | 63,400 | 2,047 | 65,447 | ||||||||
- | - | - | 254,478 | 63,400 | 317,878 | 14,249 | 332,127 | ||||||||
- | - | -103,180 | - | - | -103,180 | - | -103,180 | ||||||||
- | 0 | 1 | - | - | 1 | - | 1 | ||||||||
1,013 | -135 | - | - | - | 878 | - | 878 | ||||||||
- | - | - | -47,098 | - | -47,098 | -5,124 | -52,222 | ||||||||
- | - | - | 53,822 | -53,822 | - | - | - | ||||||||
- | -2,518 | - | - | - | -2,518 | -2,593 | -5,111 | ||||||||
- | - | - | - | - | - | 9,858 | 9,858 | ||||||||
- | -3 | - | -400 | - | -403 | 63 | -340 | ||||||||
325,638 | 239,856 | -380,881 | 1,487,397 | 80,383 | 1,752,393 | 166,441 | 1,918,834 | ||||||||
- 3 -
4.Consolidated Statements of Cash Flows
(Millions of yen) | |||
FY2022 | FY2023 | ||
Notes | (For the full-year ended | (For the full-year ended | |
March 31, 2023) | March 31, 2024) | ||
Cash flows from operating activities | |||
Profit for the year before income taxes | 371,876 | 178,180 | |
Depreciation, amortization and impairment loss | 179,228 | 185,564 | |
Increase (decrease) in provisions | -8,852 | 29,110 | |
Increase (decrease) in net defined benefit liability | -19,034 | -14,981 | |
Interest and dividend income | -6,037 | -9,715 | |
Interest charges | 3,958 | 5,241 | |
Income from investments accounted for using the equity method, net | -28,037 | -11,144 | |
(Gain) loss on sales of subsidiaries' stock | -39,158 | -113 | |
(Increase) decrease in trade receivables | -65,320 | 15,883 | |
(Increase) decrease in contract assets | -8,690 | -9,760 | |
(Increase) decrease in inventories | -51,939 | 44,363 | |
Increase (decrease) in trade payables | 5,659 | -15,432 | |
Increase (decrease) in contract liabilities | 32,798 | 1,450 | |
Other, net | -92,972 | 51,125 | |
Cash generated from operations | 273,480 | 449,771 | |
Interest received | 2,658 | 5,717 | |
Dividends received | 7,081 | 12,147 | |
Interest paid | -3,984 | -5,270 | |
Income taxes paid | -58,906 | -153,144 | |
Net cash provided by operating activities | 220,329 | 309,221 |
Cash flows from investing activities
Purchases of property , plant, equipment, and intangible assets Proceeds from sales of property, plant and equipment Proceeds from sales and redemption of investment securities Purchase of investment securities
Net proceeds from sale of subsidiaries, equity method associates and business
Payments for acquisition of subsidiaries Other, net
Net cash used in investing activities
-168,098 15,580 46,244 -27,624
88,049
-9,824 12,864
-42,809
-195,839 4,769 112,059 -11,563
-29,535
-43,311 6,181
-157,239
Cash flows from financing activities | |||
Increase (decrease) in short-term borrowings | -25,502 | 29,336 | |
Proceeds from long-term debt and issuance of bonds | 2,268 | 291 | |
Repayment of long-term debt and bonds | -35,298 | -2,126 | |
Payment of lease obligation | -58,566 | -52,609 | |
Purchase of treasury stock | -150,103 | -103,180 | |
Dividends paid to owners of the parent | -45,210 | -47,098 | |
Other, net | -1,174 | -6,102 | |
Net cash used in financing activities | -313,585 | -181,488 | |
Net increase (decrease) in cash and cash equivalents | -136,065 | -29,506 | |
Cash and cash equivalents at beginning of year | 484,020 | 355,901 | |
Effect of exchange rate changes on cash and cash equivalents | 7,946 | 15,744 | |
Cash and cash equivalents at end of year | 355,901 | 342,139 | |
- 4 -
- Notes to Financial Statements
- Cautionary Note Regarding Assumptions of a Going Concern
None.
2. Segment Information
Please refer to "FY2023 Consolidated Financial Results" (Presentation Material).
3. Earnings per Share
Calculation basis for basic earnings per share and diluted earnings per share
Basic Earnings per Share
FY2022 | FY2023 | ||
(For full-year ended | (For full-year ended | ||
March 31, 2023) | March 31, 2024) | ||
Profit for the year, attributable to ordinary | Millions of yen | 215,182 | 254,478 |
equity holders of the parent | |||
Weighted average number of ordinary | Thousands of share | 1,942,731 | 1,876,873 |
shares - basic | |||
Earnings per shares | yen | 110.76 | 135.59 |
Diluted Earnings per Share | |||
FY2022 | FY2023 | ||
(For full-year ended | (For full-year ended | ||
March 31, 2023) | March 31, 2024) | ||
Profit for the year, attributable to ordinary | Millions of yen | 215,182 | 254,478 |
equity holders of the parent | |||
Profit used to calculate diluted earnings | Millions of yen | 215,182 | 254,478 |
per share | |||
Weighted average number of ordinary | Thousands of share | 1,942,731 | 1,876,873 |
shares - basic | |||
Contingently issuable shares | Thousands of share | 3,889 | 3,376 |
Weighted average number of ordinary | Thousands of share | 1,946,620 | 1,880,249 |
shares - diluted | |||
Diluted earnings per share | yen | 110.54 | 135.34 |
(Note) On April 1, 2024, Fujitsu implemented a stock split, in which each share was converted into ten shares. Basic Earnings per Share and Diluted Earnings per Share have been calculated on the basis that the stock split had been conducted at the beginning of the previous consolidated fiscal year.
- 5 -
4. Major Subsequent Events
Repurchase of Our Own Shares
At the Board of Directors meeting held on April 25, 2024, our company resolved to repurchase its own shares pursuant to Article 459, Paragraph 1 of the Companies Act of Japan and the Articles of Incorporation of our company.
(1) Reason for Acquisition of Treasury Stock
In order to enhance shareholder returns and improve capital efficiency by comprehensively taking into account the business environment and other factors, in light of improvements in financial conditions such as the expansion of profit and cash flow for FY2023 and FY2024.
-
Details of Matters Concerning the Repurchase of Shares ・Type of shares to be repurchased: Common stock
・Total number of shares to be repurchased: Up to 150,000,000 shares (8.16% of total shares issued, excluding treasury stock)
・Aggregate amount of repurchases: 180 billion yen (maximum limit)
・Repurchase period: May 1, 2024 - March 31, 2025
・Repurchase Method : Purchase by means of market trades on the Tokyo Stock Exchange (including purchases by means of market trades based on a discretionary investment contract with securities firms and through share repurchases made outside of trading hours [ToSTNet-3])
Note: There is also the possibility that a portion or all of the repurchases may not occur because of sudden changes in the business environment, a large increase in the demand for funds, or because of insider trading restrictions.
Basic Approach to the Selection of Accounting Standards
As of fiscal 2014 Fujitsu has adopted International Financial Reporting Standards (IFRS) for the preparation of consolidated financial statements, for the purpose of having a single, uniform accounting standard for Group companies
and improving comparability of the company's financial information in the world's capital markets.
- 6 -
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Fujitsu Ltd. published this content on 25 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2024 06:58:02 UTC.