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【ノート】
Next, I will report on Fujitsu Electronics’ PMI.
The first slide divides this past year in terms of good news and bad news.
● One piece of good news, as Mr. Kawamura explained, is that Fujitsu Electronics’ profitability is improving. The gross profit margin improved 0.5 points, from 6.3 to 6.8%. In September 2018, we held an IR briefing on the acquisition of Fujitsu Electronics, and we were asked whether we could improve the company’s low profit rate. I stated that this was possible by combining the company’s products, gathered from around the world, as an independent trading company, an approach that we are taking now.
● The second piece of good news is that we were able to reduce selling, general and administrative expenses by about 1.5 billion yen. This was primarily due to cuts to personnel costs by reducing the number of staff.
● The bad news is that sales with Cypress have ended, and the distribution agreement was terminated in October 2019. In addition, Taiwan-based United Microelectronics Corporation (UMC) fully acquired Mie Fujitsu Semiconductor Limited, which means that the commercial rights for the products manufactured by Mie Fujitsu to date were dissolved from April.