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Difficult Second Quarter, First Half for Fujifilm Business Innovation

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Fujifilm of Japan today reported financial results for its second quarter and for the first six months (first half) of its fiscal year, with both ending on September 30, 2024.

It was mixed results for the company as a whole, trending downward, and lower results for its Fujifilm Business Innovation group.

First Half

First-half net revenue was ¥1,514.7 billion ($9.86 billion), up 9.1 percent year-over-year; operating income was ¥135.6 billion ($885.46 million), up 8.0 percent year-over-year; and net income was ¥110.3 billion ($720.26 million), down 2.9 percent year-over-year

All business groups saw year-over-year revenue increases, but Healthcare and Business Innovation saw year-over-year operating income declines.

Fujifilm Business Innovation Business 

First-half net revenue for Fujifilm Business Innovation was ¥567.7 billion ($3.70 billion), up 1.5 percent year-over-year, and operating income was ¥31.9 billion ($208.31 million), down 28.8 percent year-over-year.

In the Office Solutions business, revenue decreased year-over-year, mainly due to the discontinuation of low-profit small printers for the U.S and European markets.

The firm noted that in September 2024, it announced that it would start selling digital color MFPs in October 2024 in collaboration with a major local distributor in the U.S. It also announced the October 2024 launch of three new models, comprising 10 new products, for the Apeos series of A3 digital color MFPs, which are said to support office digital transformation (DX) through enhanced integration with business solutions.

In the graphic-communications printer business, revenue was boosted by higher sales in the printing-plates field, particularly in North America, increased sales of production printers for the U.S. and European markets in the digital printing field, and a rise in inkjet print-head sales in the inkjet field.

Second Quarter

For its second quarter, Fujifilm reported net revenue of ¥765.73 billion ($5.00 billion), up 5.2 percent year-over-year; operating income of ¥73.41 billion ($479.37 million), up 0.1 percent year-over-year; and net income of ¥49.92 billion ($325.98 million), down 15.8 percent year-over-year.

For Fujifilm Business Innovation, second-quarter net revenue was ¥287.7 billion ($1.87 billion), down 0.7 percent year-over-year, and operating income was ¥10.8 billion ($70.52 million), down 30.7 percent year-over-year.

Forecast

Fujifilm maintained its main forecast. For its fiscal year that will end on March 31, 2024, it’s forecasting net revenue of ¥3,150.0 ($20.56 billion), up 6.0 percent year-over-year; operating income of ¥315.0 billion ($2.05 billion), up 12.16 percent year-over-year; and net income of ¥207.50 ($1.35 billion), up 2.51 percent year-over-year.

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