Fujifilm announces turnaround

Fujifilm’s Imaging Solutions Business reached sales of Yen 225.8 billion (Euro 1.87 billion/US-$ 2.8 billion), a decrease of 5.7 percent with an operating income of Yen 0.0 billion compared with a loss of Yen 9.2 billion (Euro 76.2 million/US-$ 113 million) a year ago.

According to a press release, the business environment of the Fujifilm Group improved overall despite the negative impact of the Yen appreciation and surging raw material prices. While the Great East Japan Earthquake caused temporarily halts in production operations at some Fujifilm Group facilities, the restoration of those operations had proceeded smoothly, and the impact on the Group’s performance in the current fiscal year is projected to be minimal, the company said. In the Photo Imaging Business, Fujifilm achieved growth in photographic color paper sales volume due to an increase in market share as well as sales promotion measures for photo books and other high value-added printing services. But the impact of Yen appreciation and other situations resulted in a decrease in turnover. Fujifilm’s camera sales reached a record high level in volume and a growth in net turnover reflecting increased volume mainly in the emerging countries as well as an intensification of sales promotion measures for high-end models.

In Europe, Fujifilm recorded external sales of Yen 205.3 billion (Euro 1.7 billion/US-$ 2.52 billion), a decline of 11.3 percent. The operating income reached Yen 143 million (Euro 1.2 million/US-$ 1.8 billion), after a loss of Yen 21.75 billion (Euro 180 million/US-$ 267 million) in the previous year.

As for the outlook for the fiscal year ending March 31, 2012, Fujifilm said it was becoming increasingly difficult to forecast prospective trends in the comany’s operating environment due to the surge in raw material prices, the movements in currency exchange rates as well as the impacts from the earthquake and tsunami desaster, adding it intends to announce a performance forecast as soon as it becomes possible to estimate.