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Fujifilm Reports Record Revenue, Profit for Latest Financial Results

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On February 8th, Fujifilm of Tokyo, Japan, reported results for its third quarter and its last three months (nine-month period), with both ending on December 31, 2023,

The good news was that revenue, operating income, and net income reached record highs for the nine-month period. The company said the increases were mainly due to strong sales for the Medical Systems and Imaging businesses, and to favorable foreign-currency exchange-rate effects.

However, for Fujilm’s Fujifilm Business Innovation Office business, there was lower revenue and profit due to lower MFP sales to the Americas and Europe, despite the positive effects of the company obtaining new OEM partnerships,

Third Quarter

Fujifilm’s third-quarter revenue was a record high of ¥744.4 billion ($4.98 billion), up 3 percent year-over-year; operating income was ¥79.4 billion ($531.6 million), down 3 percent year-over-year; and net income was ¥60.2 billion ($403.0 million), up 2.8 percent year-over-year.

Third-quarter Fujifilm Business Innovation revenue was ¥199.9 billion ($1.33 billion), down 7.3 percent year-over-year, and operating income was ¥17.4 billion ($116.5 million), down 1.5 percent year-over-year. Within the Business Innovation business, Office Solutions (MFPs) revenue was down 20.2 percent year-over-year, while Business Solutions (digital-transformation solutions) revenue was up 6.7 percent year-over-year.

Nine-Month Period

For the nine-month period, Fujifilm revenue was ¥2.15 trillion ($14.39 billion), up 2.9 percent year-over-year; operating income was ¥204.92 billion ($1.37 billion), up 1.1 percent year-over-year; and net income was a record ¥173.76 billion ($1.16 billion), up 13.0 percent year-over-year.

For the nine months, Fujifilm Business Innovation revenue was ¥601.4 billion ($4.02 billion), down 2.1 percent year-over-year, and operating income was ¥50.4 billion ($337.44 million), up 5.5 percent year-over-year.

Fujifilm said revenue declined for Fujiflm Business Innovation’s Office (MFP) business mainly due to  lower exports to Europe and the U.S., despite the company expanding its number of new OEMs. In the Business Solutions business, revenue rose mainly due to an increase in sales to municipalities in Japan and higher sales of digital transformation (DX)-related solutions. 

Forecast

Fujifilm maintained its forecast for its fiscal year that will end on March 31, 2024.

The company is forecasting revenue of ¥2.95 trillion ($19.74 billion), up 3.2 percent year-over-year; operating income of ¥290.00 billion ($1.94 billion), up 6.2 percent year-over-year; and net income of ¥225.00 billion ($1.50 billion), up 2.5 percent year-over-year. 

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