To Our Shareholders Fujitsu. The Possibilities Are Infinite GLYPH<H18567> Anticipating change and concentrating resources on Internet-related business areas GLYPH<H18567> Giving greater emphasis to customer focus At the dawn of the 21st century, the Internet is establishing itself as a new social infrastructure. In addition to changing the structure of business in every industry, the Internet is stimulating the emergence of new types of business that transcend conventional fields and, on the individual level, opening up diverse possibilities for daily life. While striving to better anticipate the changes that are transforming business and society, the Fujitsu Group is committed to aggressively introducing products and services that utilize the most advanced information technology, as well as to responding to our customers’ diverse needs by providing solutions to their business problems. Since adopting “Everything on the Internet” as our business strategy in fiscal 1999, we have restructured our business by focusing our resources on areas that have the Internet as their core. Affected by such factors as Y2K-related constraints on IT investment and a reduction in the yen-converted value of sales by our overseas subsidiaries due to the high yen, consolidated sales were ·5,255.1 billion, roughly the same as in the previous fiscal year. Operating income increased to · 149.9 billion, up 13.4% over the preceding year, thanks to the restoration of profitability to our electronic devices business. Consolidated net income was ·42.7 billion, an improvement of ·56.3 billion. More efficient management enabled us to reduce interest-bearing debt by ·202.2 billion during this period, helping to strengthen our overall financial situation.  In today’s new world, where the rapid growth of the Internet is bringing great change to society, enterprises and individuals alike, we believe that constantly keeping our customers’ needs in mind and promptly providing them with solutions to their problems _ in other words, customer focus _ is more important than ever. 2 3 From left: Tadashi Sekizawa, Chairman Naoyuki Akikusa, President and CEO