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Fujitsu Limited (FJTSF) on Q4 2020 Results - Earnings Call Transcript

May 02, 2021 3:19 AM ETFujitsu Limited (FJTSF), FJTSY
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Fujitsu Limited (OTCPK:FJTSF) Q4 2020 Earnings Conference Call April 28, 2021 2:00 AM ET

Company Participants

Takeshi Isobe - CFO

Conference Call Participants

Takeshi Isobe

Thank you for joining us today. I would like to start by introducing the main points of our Financial Results for Fiscal 2020.

Revenue decline because of the impact of COVID-19 and the decline in PC revenue from an unusually high demand of the previous year. Despite this, operating profit and profit for the year, were both the highest in Fujitsu's history, because of steady progress in improving profitability, and one-time gain on the sale of some assets.

Free cash flow was ¥236.3 billion. Continuing from the previous year, we were able to maintain free cash flow at a high level. ROE was 15.1%. EPS was ¥1013.8 and capital efficiency improved over last year. Ordinary dividends were increased for the fifth consecutive year. Together with the purchase of treasury stock, we have returned a total of about ¥60 billion to shareholders.

I will now go through and explain our consolidated Profit and Loss figures. This is Page 5. Revenue was ¥3589.7 billion. As I commented a moment ago, revenue declined 6.9% from the previous year, mainly owing to the impact of COVID-19 and the decline in PC revenue from the unusually high demand of the previous year.

Operating profit was ¥266.3 billion, and the operating profit margin was 7.4%, representing an increase in operating profit of ¥54.8 billion and an improvement in the margin of 1.09% from the previous year. Excluding the impact of restructuring and special items, we made great progress in improving profitability and generating cost efficiencies.

The impact of restructuring and special items also serves to increase profits through gains on the sale of a business and reduction in the burden of

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