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Dec 24 (Reuters) – Fujitsu Ltd (6702.T), Japan’s leading IT vendor, will invest more than $1.2 billion in cloud computing services next financial year, its president said Friday.

Fujitsu is looking for new products and services as it tries to counter a crimp on corporate and public spending on new IT services amid weak economic growth that is pressuring earnings. (Reporting by Reiji Murai; Writing by Tim Kelly; Editing by Edwina Gibbs)