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Fujitsu has posted characteristically succinct results for what the Japanese company calls its “fiscal 2011” (i.e. the twelve months to March 2012). The technology giant saw total revenues fall 1.3% year-on-year to 4.5 trillion yen (or $54.5bn). Sales outside Japan were down 5.1%. The overall operating margin was down 50 basis points at a wafer thin 2.4%.
There’s no detail in this statement on how the UK services business or Fujitsu Services more broadly fared. But the $36bn unit they fit into - Technology Solutions - posted a revenue decline of 2.6%. The fall was similar in Ubiquitous Solutions (i.e. devices) and steeper (at 7.3%) in Device Solutions (i.e. components). Fujitsu undoubtedly faced adverse effects from Thai flooding and the Japanese tsunami during the year. But these results reinforce the belief that the once-mighty Japanese tech industry is failing to innovate fast enough to take its share of the huge growth in mobile and other internet-connected devices, following lacklustre results from the likes of Sony and Nintendo.
