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Fujifilm Reports Improvement in Second Quarter, But Sharp Drop in Profit for Fujifilm Business Innovation

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On November 9th, Fujifilm of Japan released financial results for its second quarter and first six months (first half) of its fiscal year, with both ending on September 30, 2026. 

In a nutshell, while the first half overall saw declines in revenue and profit, results improved in the second quarter, which saw record revenue, driven by increased sales of semiconductor materials and data tapes. However, Fujifilm Business Innovation reported a loss for the first half, but improved sharply in the second quarter – while it didn’t report a loss for its second quarter, operating profit was down 94.4 percent. Fujifilm has said it is considering spinning off Fujifilm Business Innovation, while retaining a 20 percent stake in the business.

First Half

First-half net revenue was a record high of ¥1,711.5 billion ($10.79 billion), up 8.8 percent year-over-year (YoY); operating income was ¥142.3 billion ($895.27 million), down 12.1 percent YoY; and net income was ¥105.2 billion ($662.00 million), down 12.5 percent YoY.

Fujifilm Business Innovation reported first-half net revenue of ¥566.7 billion ($3.57 billion), down 5.5 percent YoY, and a loss of ¥0.6 billion ($3.78 million). Within Business Innovation, the Office Solutions segment posted lower revenue mainly due to a decline in exports to Europe and the U.S., as well as lower sales in China

The company said revenue increased mainly in the Medical Systems, Semiconductor Materials, and Imaging businesses. Operating profit declined despite higher earnings in the Electronics and Imaging segments, primarily due to increased fixed costs in the Bio CDMO business in the Healthcare segment; one-time costs incurred to strengthen the organizational structure of  Business Innovation; and the impact of rising raw material costs. 

Second Quarter

Second-quarter net revenue was ¥885.0 billion ($5.57 billion), up 7.6 percent YoY; operating profit was a record high of ¥90.0 billion ($567.42 million), up 8.2 percent YoY; and net income was ¥67.8 billion ($428.85 million), up 2.0 percent YoY.

Net revenue for Fujifilm Business Innovation was ¥293.5 billion ($1.85 billion), down 1.7 percent YoY, and net income was ¥0.9 billion ($5.67 million), down 94.4 percent YoY. 

Forecast

For its fiscal year that will end on March 31, 2027, Fujifilm increased its forecast. It’s forecasting net revenue of ¥3,590.0 billion ($22.63 billion), up 0.8 percent YoY; operating profit ¥365.0 billion ($2.30 billion), up 4.2 percent YoY; and net income of ¥280.0 billion ($1.76 billion), up 1.2 percent YoY, all of which it says will be record highs.

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