Fujitsu General Limited announced its financial results for the fiscal year ended March 2025, reporting consolidated net sales of ¥354.1 billion (approx. $2.32 billion), an increase of 12% compared to the previous year. Operating income rose sharply by 88% year-on-year to ¥14.5 billion (approx. $95 million), reflecting a 4.1% operating income margin.
The company attributed the improvement to cost reductions and strategic pricing measures tied to product lineup adjustments for refrigerant conversion in the North American market. However, an extraordinary loss of ¥7.8 billion (approx. $51 million) related to the narrowing focus of its Electronic Devices business contributed to a net loss of ¥3.9 billion (approx. $26 million).
Segment Performance
The Air Conditioner Business generated ¥315.8 billion (approx. $2.07 billion) in sales, up 13% year-on-year. Growth was particularly strong in the Americas, where sales increased 36%, and in the Middle East and Africa, which saw a 59% rise. Conversely, sales in Greater China declined by 27%.
The newly established Tech Solutions Business posted ¥35.5 billion (approx. $233 million) in sales, up 7% year-on-year, with operating income improving to ¥6.0 billion (approx. $39 million), representing a 16.8% operating margin.
Investment and Financial Position
R&D expenses totaled ¥16.3 billion (approx. $107 million), accounting for 4.6% of total net sales. Capital expenditures reached ¥7.7 billion (approx. $51 million), while depreciation expenses amounted to ¥9.1 billion (approx. $60 million).
The company’s consolidated balance sheet showed total assets of ¥273.3 billion (approx. $1.79 billion), a slight decrease from the previous year. The shareholders’ equity ratio declined to 47.9%.
Future Outlook
Following the planned acquisition by Paloma・Rheem Holdings Co., Ltd., Fujitsu General expects to be delisted. As a result, the company has not issued a consolidated financial forecast for FY2025.
“We recognize the fiscal year under review as a period of significant strategic transition, including efforts to realign our business portfolio for future growth,” stated Fujitsu General in the financial results presentation.
