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Fujifilm, Fujifilm Business Innovation Post Strong Second-Quarter and First-Half Results

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Fujifilm of Japan today released financial results for its second and first half of its fiscal year, with both ending on September 30, 2022.

First Half

For the April 1 to September 30 period (“first half”), Fujifilm reported net revenue of ¥1.34 trillion ($9.48 billion), up 12 percent year-over-year; operating income of ¥120.8 billion ($855.28 million), also up 12.0 percent year-over-year; and net income of ¥95.2 billion ($673.84 million), down 1.1 percent year-over-year.

Fujifilm Business Innovation

For the first half, Fujifilm’s Business Innovation group reported net revenue of ¥398.4 billion ($2.82 billion), up 6.7 percent year-over-year, and operating income of ¥30.1 billion ($214.01 million), up 17.5 percent year-over-year.

For its Office Solutions group within Fujifilm Business Innovation, the company reported that despite the impact of COVID-19 lockdowns in China in the first half, product supply recovered steadily, leading to higher revenue from exports of office MFPs and consumables mainly to the U.S. and Europe.

In response to the tight supply of materials in the supply chain, the company said that it’s continuing to secure parts through close coordination among development, procurement, and manufacturing functions. It says it’s also introducing alternative parts at an early stage to mitigate product supply constraints. Although raw material prices continue to soar, it says it’s increased product prices beginning this month in both Japan and overseas in order to maintain profitability. Revenue for the Office Solutions group for the first half was ¥266.9 billion ($1.89 billion), up  6.1 percent year-over-year. 

For its Business Solutions group within Fujifilm Business Innovation, in addition to higher sales of solution services and the acquisition of large-scale orders in Japan, revenue from the overseas business processing output business increased. Second-quarter revenue for the Business Solutions group was ¥131.5 billion ($934.94 million), up  8.0 percent year-over-year. 

All of Fujifilm’s other business groups (Healthcare, Materials, and Imaging) also reported year-over-year increases for net revenue and operating profit. The exception was its Healthcare business, which had operating income down 7.3 percent year-over-year.

Second Quarter

For its second quarter ended September 30th, Fujifilm reported net revenue of ¥725 billion ($5.13 billion), up 16.3 percent year-over-year; operating income of ¥71.2 billion ($506.22 million), up 38.3 percent year-over-year; and net income of ¥53.8 billion ($380.91 million), up 38.1 percent year-over-year.

Fujifilm’s Business Innovation reported second-quarter net revenue of ¥210.2 billion ($1.49 billion), up 12.2 percent year-over-year, and operating income of ¥15.9 billion ($112.86 million), up 37.1 percent year-over-year.

Forecast

For its fiscal year ending on March 31, 2023, Fujifilm increased its forecast for revenue and profit – forecasting a record high for operating profit. For the full year, the company is forecasting net revenue of ¥2.8 trillion ($19.90 billion), up 10.9 percent year-over-year; operating income of ¥260 billion ($1.84 billion), up 13.2 percent year-over-year; and net income of ¥200 billion (1.419 billion), down 5.3 percent year-over-year.

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