Fujitsu Ltd. reported a sharp drop in its latest quarterly profit Wednesday, battered by a rising yen and the aftermath of less investment in its U.S. and European businesses during the financial crisis.
Fujitsu's July-September profit totaled ¥17.4 billion, plunging from ¥72.4 billion earned a year earlier when the sale of investment securities boosted results.
Sales for its fiscal second quarter dropped 3.7 percent to ¥1.1 trillion. Sales would have risen year on year were it not for the appreciation of the yen, according to Tokyo-based Fujitsu, which provides technology services for mobile devices and servers.
The company hopes to invest in new cloud computing services as its results pick up.