Fujifilm’s first quarter: Decline in revenue and profit

According to the company, the decline reflects the negative impact of an appreciation of the Yen as well as the decrease in domestic demand associated with the Great East Japan Earthquake and other factors including the uncertain economic conditions in the US and Europe. On the other hand, sales in China and other emerging country markets continued to be strong.

Fujifilm ‘s Imaging Solutions business recorded sales of Yen 81.7 billion (Euro 744.5 million/US-$ 1.06 billion), down 1.8 percent from the year-ago quarter, resulting in an operating loss of Yen 1.3 billion (Euro 11.8 million/US-$ 16.9 million) after a profit of Yen 1.8 billion (Euro 16.4 million/US-$ 23.3 million) in the same period 2010. While the Imaging Solutions business in Japan was affected by currency fluctuations and the effects of the Great East Japan Earthquake, the color paper segment recorded robust sales in Europe and China, resulting in higher sales volumes and increased market share. In the Electronic Imaging business, Fujifilm announced robust sales of high-end products such as the FinePix X100, the FinePix F550EXR and the FinePix S3200 despite the decrease in domestic demand associated with the earthquake and tsunami in March.

Fujifilm’s sales in Europe totaled Yen 56.4 billion (Euro 513.9 million/US-$ 731.4 million) in the first quarter, a plus of 5.3 percent. The operating income turned to a loss of Yen 1.44 billion (Euro 13.1 million/US-$ 18.7 million), after a profit of Yen 1.67 billion (Euro 15.2 million/US-$ 21.7 million) in the same period last year.

For the full year, Fujifilm expects sales of Yen 2.34 trillion (Euro 21.3 billion/US-$ 30.35 billion), up 5.5 percent from the previous fiscal year. The operating income is forecast to increase 17.3 percent to Yen 160 billion (Euro 1.46 billion/US-$ 2.08 billion).