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Fujifilm Reports Financial Results, Business Tech Business Grows

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Fujifilm of Japan today reported financial results for its third quarter and the last nine months of its fiscal year, with both ending on December 31, 2024. 

In a nutshell, the company reported stellar results for both periods, with record revenue and net income for the third quarter.

And, although operating income was down 11.9 percent year-over-year (YoY) for Fujifilm Business Innovation for the nine-month period, it improved in the third quarter, with operating income up 5.1 percent YoY.

Nine-Month Period

For the nine-month period, Fujifilm reported net revenue of ¥2,327.5 billion ($15.32 billion), up 8.0 percent YoY, reflecting sales increases mainly in the company’s Semiconductor Materials and Imaging businesses.

Nine-month operating income was ¥223.3 billion ($1.47 billion), up 9.0 percent YoY, and net income was  ¥181.5 billion ($1.19 billion), up 4.5 percent YoY. 

Fujifilm Business Innovation

For Fujifilm Business Innovation, nine-month net revenue was ¥862.0 billion ($5.67 billion), up 2.6 percent YoY, but operating income was ¥42.8 billion ($281.82 million), down 11.9 percent YoY.

Fujifilm said revenue for the segment rose mainly driven by higher sales of digital transformation (DX)-related solutions, driven by replacement demand stemming from the end of Microsoft Windows 10 support. 

In the Office Solutions business, revenue decreased mainly due to lower sales in Asia, caused primarily by the economic slowdown in China, and the discontinuation of low-profitable printers for the European and U.S. markets.

The company noted that in October 2024, it launched 10 new Apeos series A3 color MFPs. In addition to Italy and the U.K., it also started selling digital color MFPs in Spain and France, expanding its sales territory in Europe.

In the Graphic Communications segment, revenue was boosted by growing sales of production printers for the U.S. and European markets, as well as by inkjet print-head sales. 

Third Quarter

For its third quarter, Fujifilm reported record highs for net revenue, operating income, and profit. 

Net revenue was ¥812.8 billion ($5.35 billion), up 6.0 percent YoY; operating income was ¥87.7 billion ($577.85 million), up 10.4 percent YoY; and profit was ¥71.2 billion ($469.13 million), up 18.3 percent YoY.

Net revenue for Fujifilm Business Innovation was ¥294.4 billion ($1.93 billion), up 4.7 percent YoY, and operating income was ¥17.5 billion ($115.23 million), up 5.1 percent YoY. 

The company said that revenue increased mainly because of higher sales of digital transformation (DX)-related solutions and growing sales of MFPs in Japan, Europe, and the U.S. Operating income increased driven by a rise in gross profit in line with higher revenue.

In the Office Solutions segment, revenue rose mainly driven by higher sales of MFPs in Japan, Europe, and the U.S. despite the impact of declining sales in the Asia-Pacific region due to the economic slowdown in China. 

Fujifilm also noted that it established the Global Procurement Partners Corporation, a joint venture with Konica Minolta, in January 2025 to reinforce its business foundation through joint procurement of materials and parts for the Business Innovation business.

Forecast

For its fiscal year that will end on March 31, 2026, Fujifilm is forecasting net revenue of ¥3,150.0 billion ($20.74 billion), up 6.5 percent YoY; operating income of ¥315.0 billion ($2.074 billion), up 13.8 percent YoY; and profit of ¥250.0 billion ($1.64 billion), up 2.7 percent YoY.

The company is also aiming for record revenues and profits for the fiscal year. Teiichi Goto, Fujifilm president and CEO commented: “We aim to achieve record-high sales and profit for the fiscal year ending March 2025. To further accelerate the growth of our semiconductor materials business, we plan to invest ¥170 billion in capital expenditure and R&D over the three years up to the fiscal year ending March 2027. This investment, which is more than double compared to the last three years, will strengthen our global supply structure, enabling us to meet the increasing demand for advanced semiconductor materials and solve customers’ issues near their production sites.”

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