Exostar is providing its secure environment building technology for Fujitsu Limited's "Fujitsu Trusted Supplychain Service" in Japan. The technology, based on Exostar Managed on Microsoft 365, will enable organisations across Japan's defense and critical infrastructure sectors to collaborate securely and maintain compliance. The service addresses converging cybersecurity mandates across allied defense supply chains. In the US, the Department of Defense's CMMC programme establishes requirements for contractors handling controlled unclassified information. Japan's Ministry of Defense has introduced similar requirements aligned with NIST 800-171 standards. Exostar's platform supports over 200,000 companies in 175 countries, including more than half of the US Defense Industrial Base. The company has collaborated with Fujitsu since 2019.

Fujitsu has raised its year-end dividend and announced new AI partnerships, prompting investors to reassess the stock's valuation. Shares currently trade at ¥3,591, up 16.78% over one month but down 16.66% year to date. Analyst estimates suggest a fair value of ¥4,591, implying the stock trades at approximately a 27% discount. The company's modernisation revenue grew 44% year-on-year, whilst Uvance revenue rose 52%, with Uvance now representing 29% of segment sales. This reflects Fujitsu's transition from legacy hardware to higher-margin cloud and consulting services. The stock trades at a P/E of 20.6x, above the Japanese IT industry average of 14.4x but below peers at 61.1x. The valuation case depends on international operations stabilising and sustained AI adoption.

Fujitsu shares have declined 12% over the past month and 16% over three months, prompting closer examination of its valuation. The IT services and hardware provider recorded revenue of ¥3.50 billion and net income of ¥303,069 million. Despite recent weakness, the most followed valuation narrative suggests Fujitsu is 31.4% undervalued, with fair value estimated at ¥4,689 versus the current price of ¥3,217. This assessment is based on strong growth in modernisation and Uvance businesses, which saw revenue increases of 44% and 52% year-on-year respectively, reflecting successful transition from legacy hardware to high-margin cloud and consulting services. However, Fujitsu trades at a price-to-earnings ratio of 18.4x, above the Japanese IT industry average of 14x, presenting both valuation risk and potential upside.