Moody's cuts Fujitsu view to stable

Moody's Investors Service said it changed to stable from positive the outlook for the A3 senior unsecured long-term debt ratings of Fujitsu, Ltd. and its supported subsidiary.

The outlook change reflects Moody's view that Fujitsu may need more time to improve its overall profitability in light of difficult market conditions.

Over the last few years, Fujitsu has focused its management resources on the technology solutions business, helping it further strengthen its market competitiveness and position in its core business market, the agency said.

But since mid-2008, the global financial turmoil and economic slowdown have significantly affected the financial performance of businesses such as HDDs and semiconductors, Moody's said.

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