Japanese computer manufacturing giant Fujitsu reported annual net income for 2007 as 48.1bn yen (£238m) – 54.3bn yen (£269m) less than the record income of 102.4bn yen (£507m) reported in 2006.

The company blamed one-off profits from sale of shares in its internet service provider subsidiary Nifty Corporation and industrial electronics specialist Fanuc in 2006 for the disparity.

The firm also referred to a 72.7bn yen (£360m) loss caused by accounting changes, restructuring expenses, and a decline in the value of its shareholdings during 2007.

“Fiscal 2007 was a pivotal year in positioning Fujitsu for future growth and profitability,” said Fujitsu president Hiroaki Kurokawa in a statement.

Revenue was up 4.5 per cent year on year to 5,331bn yen (£26.4bn) with operating income up 12.6 per cent to 205bn yen (£1bn). Fujitsu cited strong global sales of Unix and x86 servers and PCs, and mobile phones in Japan.