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Strong Growth for Fujifilm’s Fiscal Year, But Earnings Slow in Latest Quarter

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Fujifilm Holdings, the parent company of Fujifilm Business Innovation, today reported financial results for its fourth quarter and fiscal year, with both ending on March 31, 2022.

Full Year

For the full year, net sales were ¥2.52 trillion ($19.39 billion), up 15.2 percent year-over-year; operating profit was ¥229.7 billion ($1.76 billion), up 38.8 percent year-over-year; and net income was ¥211.1 billion ($1.62 billion), up 16.5 percent year-over-year.

The firm says its higher sales were mainly due to sales increases in its medical systems business, bio-CDMO business, life-sciences business, and electronic-materials business.

Fujifilm Business Innovation

Fujifilm Business Innovation reported full-year net sales of ¥763.5 billion ($5.87 billion), up 0.2 percent year-over-year, and operating income of ¥57.9 billion ($444.5 million), down 20.8 percent year-over-year.

The company said that for its office-solutions business, the partial shutdown of factories in China, tight supply of semiconductors and other parts, and logistics disruptions caused delays in equipment supply and installation. However, revenue remained at the same level as in the previous year due to the effects of foreign-currency exchange rates and a recovery in non-hardware sales from the impact of the COVID-19 pandemic.

Of note is that Fujifilm noted it’s expanding its  business globally and began selling office products in new markets in the third quarter as part of its efforts to use Fujifilm Corporation’s overseas sites and major sales agencies for this purpose.

It also said it will continue to accelerate this global expansion, including with new OEM supply partnerships.

For its business-solutions business, revenue climbed due to such factors as an increase in business with Japanese municipal governments and steady performance by the BPO (Business Process Outsourcing) business, mainly overseas.

The firm noted that in January 2022, it acquired HOYA Digital Solutions Corporation, which began operating as Fujiflm Digital Solutions Company.

Fujifilm said it will continue to further accelerate growth for business solutions by continuing to offer new solutions and services to support customers’ digital transformation (DX), including marketing and implementation support of ERP (enterprise resource planning) systems provided by Fujifilm Digital Solutions Company.

Fourth Quarter

For its fourth quarter that ended on March 31, 2023, Fujifilm reported revenue of ¥664.8 billion ($5.10 billion), up 7.4 percent year-over-year; operating income of ¥43.2 billion ($332.46 million), down 3.9 percent year-over-year; and net income of ¥54.0 billion ($414.56 million), down 1.2 percent year-over-year.

Forecast

For its current fiscal year that will end on March 31, 2023, Fujifilm is forecasting revenue of ¥2.65 trillion ($20.34 billion), up 4.9 percent year-over-year; operating income of ¥245 billion ($1.88 billion), up 6.7 percent year-over-year; and net earnings of ¥192 billion ($1.47 billion), down 9.1 percent year-over-year.

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