Fujitsu says first-half net loss shrinks

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Fujitsu said Thursday it had reduced its net loss in the first half of its fiscal year largely thanks to the benefits of a weak yen.

The sprawling IT conglomerate said its shortfall came in at 9.63 billion yen for the six months to September, down from 14.41 billion yen a year earlier.

Sales rose 3.9% to 2.15 trillion yen as operating profit more than doubled to 10.8 billion yen, it said.

Net profit for the year to March would come in at 45 billion yen, it said.

Fujitsu said its gains were mainly the result of a sharp decline in the yen, which lifted it to a net profit in the three months to September, offsetting lower sales of mobile phones.

Sales were up in its key car audio and navigation systems business in North America, it said.

The sprawling company has been overhauling a troubled semiconductor division, merging some of its chip business with that of rival Panasonic.