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Fujifilm Books Another Stellar Quarter

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Fujifilm of Tokyo, Japan, today reported financial results for its fiscal first quarter, which consisted of the three months that ended on June 30, 2023.

Overall, it was another excellent quarter for the company, although sales and OEMing of MFPs and printers appeared to be down compared to last year.

Fujifilm’s first-quarter revenue was ¥660.75 billion ($4.61 billion), up 5.6 percent year-over-year; operating income was ¥52.21 billion ($364.26 million), up 5.4 percent year-over-year; and net income was ¥54.41 ($379.75 million), up 31.5 percent year-over-year.

Fujifilm Business Innovation

The company’s Fujifilm Business Innovation had net revenue of ¥194.2 billion ($1.35 billion), up 3.23 percent year-over-year, and operating income of ¥16.9 billion ($117.91 million), up 18.7 percent year-over-year, both of which Fujifilm attributed to higher revenue generated by the Business Solutions segment.

In the Office Solutions segment, which includes MFPs, printers, and related supplies, revenue was 125.8 billion ($877.57 million), down 2.3 percent year-over-year. The company said revenue declined as its expansion of OEMing, as well as worldwide price revisions, and other factors, were not enough to offset lower exports to Europe and the U.S. 

Revenue for the Business Solutions, which provides document processing software and solutions, had revenue of ¥68.4 billion ($477.22 million), up 15.2 percent year-over-year.

Other Businesses

Fujifilm’s other businesses, which include Healthcare and Imaging, had year-over-year revenue increases, but its Materials business had a 10.4 percent year-over-year revenue decline

The Fujiilm Business Innovation and Imaging businesses were the only businesses that had operating profit increases, as operating profit was down for both the Healthcare and Materials businesses.

Forecast

For its current fiscal year that will end on March 31, 2024, Fujifilm maintained its forecast.

It’s forecasting revenue of ¥2.95 trillion ($20.58 billion), up 3.2 percent year-over-year; operating income of ¥290 billion ($2.02 billion), up 6.2 percent year-over-year; and net income of ¥225 billion ($1.56 billion), up 4.5 percent year-over-year.

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