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.

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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.

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

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

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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.

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

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

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