Fujitsu : FY 2022 Year-end Report (Reports on the 123rd Business Period) (767 KB/A4, 22 pages)

Exhibit A

Reports on the 123rd Business Period

Fujitsu Limited

Note:

This English version of Reports on the 123rd Business Period is a translation for reference only. The style of this English version differs slightly from the original Japanese version.

(TRANSLATION FOR REFERENCE ONLY)

To Our Shareholders

We would like to sincerely thank you for your continued support.

We welcome the opportunity to present this report on our 123rd business period (covering fiscal year 2022, from April 1, 2022 to March 31, 2023).

The Company has defined its Purpose as "to make the world more sustainable by building trust in society through innovation," and we strive to create value for our customers and contribute to business growth and stability while engaging in the transformation of ourselves by further practicing DX (digital transformation) within the Company.

Starting from the social issues that need to be resolved in order to realize an ideal world, the Group is working to provide new value and contribute to realizing both business transformation and a sustainable society by continuously creating innovations with a digital technology platform from a cross-industry perspective.

In fiscal 2022, we further promoted business centered on Fujitsu Uvance, the global business brand for creating a sustainable world.

In addition, in order to further boost the shift to DX and globalization in our customers' businesses, we have focused on various measures, including the transformation of the style used in sales discussions based on the design thinking of business producers in Japan who lead DX and the standardization of development for solutions and services using uniform methods worldwide.

For the Group's own DX, we are working on internal reforms, which include strengthening personnel and systems, such as the "OneFujitsu" program, which reformulates the internal operational processes and operational systems for strengthening data driven management into a globally integrated object, and "Work Life Shift," which realizes a new workstyle. Furthermore, we set "Customer NPS®," "Employee Engagement" and "DX Promotion Index," which are evaluation indicators in non-financial area, and have continuously worked to improve the evaluation of each item.

Convinced that these initiatives will lead to further growth of the Fujitsu Group, we will continue to pursue them.

Regarding the financial performance in fiscal 2022, profits have improved due to an increase in orders for digitization and other DX-related business, and together with contributions mainly from improved productivity accompanying the standardization of development for solutions and services, both operating profit and profit for the year were the highest ever. For details of our financial results, please refer to Page A- 4 of this report.

Considering these financial results, the financial position, and the business environment from now on in, as announced in April 2022, we will pay an annual dividend of 240 yen for fiscal 2022. This is our seventh consecutive year of dividend increases, and a 20 yen increase from the annual dividend for fiscal 2021.

In fiscal 2023, we will further promote creation of value offered to our customers and the transformation for this creation to realize the Purpose and to achieve our management direction based on the new medium-term management plan. Moreover, under the Company's capital allocation policy, we will continue to pay a stable dividend while expanding the amount of shareholder returns by proactively conducting repurchases of treasury stock with an eye on our capital efficiency.

A-1

(TRANSLATION FOR REFERENCE ONLY)

We would like to ask for continued support and encouragement from all shareholders.

June 2023

Takahito Tokita, Representative Director and CEO

Notes:

1. Fujitsu Uvance: The name of our business brand, which is a combination of the two words "Universal" and "Advance," which means "to move everything forward in a sustainable direction."
2. Customer NPS® (Net Promoter Score): Indicators that measure "customer loyalty," which presents the degree of trust and degree of attachment customers have toward corporations and services.
3. DX Promotion Index: Indicators established by the Ministry of Economy, Trade and Industry for evaluating the degree of maturity of the promotion status of digital management reform.

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(TRANSLATION FOR REFERENCE ONLY)

Business Report

1. Business Overview (April 1, 2022 to March 31, 2023)

(1) Major Businesses of the Fujitsu Group (As of March 31, 2023)

Fujitsu Limited and its subsidiaries are engaged in providing total solutions in the ICT field, delivering various services as well as developing, manufacturing, selling, and maintaining the cutting-edge, high- performance, high-quality products and electronic devices that support these services. The main products and services of each segment are described below.

Segment

Main products and services

Solutions/Services

		Systems Integration
		(System Implementation, Business Application Services, etc.)
		Consulting
		Outsourcing Services
		(Data Center Services, ICT Managed Services, Application Managed Services,
		Business Process Outsourcing, etc.)
	 Cloud Services (IaaS, PaaS, SaaS, etc.)
		Network Services
		(Business networks, etc.)
		System Support Services
		(ICT System and Network Maintenance and Monitoring Services, etc.)
		Security Solutions
		Software (Middleware)
Technology Solutions	System Platforms
	[System Products]
		Servers
		(Mainframe, UNIX Server, Mission Critical IA Server, PC Server, etc.)
		Storage Systems
	 Front-End Technology
		(ATM, POS Systems, etc.)
		Software (OS)
	 Automotive Control Units and In-Vehicle Information Systems
	[Network Products]
		Network Management System
		Optical Transmission System
		Mobile Base Station
Ubiquitous Solutions		PCs
Device Solutions		Electronic Components (Semiconductor Package, Battery, etc.)

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(TRANSLATION FOR REFERENCE ONLY)

1. Trends and Results for the Consolidated Group a) Overview

Consolidated revenue for fiscal 2022 was 3,713.7 billion yen, up 3.5% from fiscal 2021. Consolidated revenue from the actual business, excluding the impact of the revenue decline of 65.1 billion yen due to business restructuring, was 3,675.0 billion yen, up 5.5% from fiscal 2021. Consolidated revenue increased due to the following factors. In Technology Solutions, orders expanded for DX-related businesses, such as digitization and modernization, and there was progress in recovery from the impact of a decline in revenue due to component supply delays caused by the semiconductor shortage.

In addition, sales of our network business focusing on 5G base stations for North America were strong. In the International Regions Excluding Japan sub-segment, the service business expanded due to M&A, which also contributed to higher revenue.

Operating profit for fiscal 2022 amounted to 335.6 billion yen, an increase of 116.4 billion yen from fiscal 2021. In addition to the improvement in profits due to the impact of higher revenue in the Technology Solutions segment, profitability improved as a result of steadily taking steps to enhance productivity through standardization of development and operation using the Global Delivery Centers (GDCs) and to increase efficiency of maintenance and operation support in our infrastructure service.

Moreover, there was income of 30.8 billion yen associated with the transfer of shares of PFU Limited as a special item for fiscal 2022, plus a reaction to the spending of 65.0 billion yen on the DX human resource initiatives made in fiscal 2021, which contributed to the increase in operating profit.

Meanwhile, on the cost side, we made investments in our value creation initiatives, including the

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