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Fujifilm, Fujifilm Business Innovation Report Latest Financial Results

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Fujifilm of Tokyo, Japan, today reported results for its nine-month period that consisted of the nine months that ended on December 31, 2021, and for its third quarter.

Overall, the company reported record profits for its nine-month period, and a strong third quarter. For the nine-month period, the company’s Fujifilm Business Innovation group reported flat revenue and a year-over-year decline in operating profit.

Third Quarter

For its third quarter that ended on December 31, 2021, Fujifilm reported revenue of ¥655.8 billion ($5.6 billion), up 13.8 percent year-over-year; operating income of ¥78.6 billion ($681.3 million), up 22.8 percent year-over-year; and net income of ¥60.8 billion ($527.0 million) up 9.3 percent year-over-year.

Nine-Month Period

For the nine-month period, Fujifilm reported record-high operating and net income, with strong results particularly for its Healthcare Business.

Net revenue was ¥1.86 trillion ($16.1 billion) up 18.3 percent year-over-year. Operating income was ¥186.5 billion ($1.6 billion), up 54.8 percent year-over-year, and net income was ¥157.1 billion ($1.2 billion), up 24.2 percent year-over-year.

The company said revenue and profits rose significantly due to steady recovery from the impact of the COVID-19 pandemic, and strong sales for its healthcare, electronic materials, and imaging businesses.

Fujifilm Business Innovation

Fujifilm Business Innovation reported net revenue of ¥559.1 billion ($4.8 billion), up 1.8 percent year-over-year, and operating income of ¥42.2 billion ($365.8 million), down 9.6 percent year-over-year.

Fujfiilm says revenue rose due to higher sales of office and business solutions, but operating income fell due to higher costs for components, including semiconductors.

Within Fujifilm Business Innovation, the Office Solutions group, which includes office copier/MFPs and printers, reported revenue of ¥378.9 billion ($3.2 billion), up 1.4 year-over-year, due to a recovery in non-hardware sales.

The other Business Innovation group, Business Solutions, which includes business-process outsourcing services, reported revenue of ¥180.2 billion ($1.5 billion), up 2.6 percent year-over-year.

The company noted that during the period, it announced it plans to expand its global business for this group by expanding into new markets in Europe, the Middle East, and Central and South America, in addition to forming new OEM partnerships.

Forecast

For its fiscal year that will end on March 31, 2022, Fujifilm raised its forecast for operating income and net income. It’s forecasting revenue of ¥2.51 trillion ($21.7 billion), up 14.5 percent year-over-year; operating income of  ¥225.0 billion ($1.9 billion), up 36 percent year-over-year; and net income of ¥185.0 billion ($1.6 billion), up 2.1 percent year-over-year.

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