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Fujifilm and Business Innovation Business Report First-Quarter Results

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Fujifilm of Japan today reported financial results for its first quarter that ended on June 30, 2022, as well as results for its Fujifilm Business Innovation business.

Fujifilm Results

Revenue for the first quarter was ¥625.9 billion ($4.70 billion), up 7.4 percent year-over-year; operating income was ¥49.6 billion ($372.82 million), down 12.0 percent year-over-year; and net income was ¥41.1 billion ($309.05 million), down 27.8 percent year-over-year.

The company reported revenue increases for all of its businesses, due to the favorable impact of foreign-currency exchange rates. Operating income was lower however due to surging costs for materials and energy. Net income was lower due to the absence of gains recorded for the first quarter a year earlier.

Fujifilm Business Innovation

First-quarter revenue for Fujifilm Business Innovation was ¥188.2 billion ($1.41 billion), up 1.2 percent year-over-year. Revenue was also the highest among Fujifilm’s business groups that include Healthcare, Materials, and Imaging.

First-quarter operating income for Fujifilm Business Innovation was ¥14.2 billion ($106.77 million) up 1.3 percent year-over-year. Only Fujifilm’s Materials business had higher operating income (¥22.8 billion).

Despite the impact of the pandemic lockdown in China earlier this year, Fujifilm said sales of overseas consumables and revenue from business-processing outsourcing (BPO) increased, and that the business also benefited from favorable foreign-currency exchange rates.

Global Expansion Initiative

The company also noted that on July 1, 2022, it established the Device Technology (DT) division to lead planning and promotion for office printers and MFPs. It said it will “promptly develop competitive devices tailored to market needs and facilitate global expansion, including OEM supply partnerships.”

Forecast

For its fiscal year that will end on March 31, 2022, Fujifilm raised its forecast for revenue by ¥50.0 billion ($375.97 million) to ¥2,700 billion ($20.30 billion), up 6.9 percent year-over-year. It also raised its forecast for operating income by ¥5.0 billion ($37.59 million) to ¥250.0 billion ($1.87 billion), up 8.8 percent year-over-year. Finally, it raised its forecast for net income by ¥3.0 billion ($22.55 million) to ¥195.0 billion ($1.46 billion), down 7.7 percent year-over-year.

It also increased its full-year forecast for Fujifilm Business Innovation revenue to ¥800.0 billion ($6.14 billion), up 4.6 percent year-over-year. It decreased its operating income forecast for this business by ¥3.0 billion ($22.5 million) to ¥67.0 billion ($503.72 million), which would still be an increase (13.6 percent) versus the previous fiscal year.

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