Fujiflm announces loss for the first quarter

According to a press release, the result for the first quarter reflects the impact of the worldwide economic recession, which affected sales in each operating segment, accompanied with a negative influence of the appreciation of the Japanese Yen.

Fujifilm’s Imaging Solutions Business recorded sales of Yen 80.3 billion (Euro 595 million), a decrease of 28.4 percent, resulting in an operating loss before restructuring and other charges of Yen 6.9 billion (Euro 51.1 million) after an operating profit of Yen 300 million (Euro 2.2 million) in the same period last year. According to Fujifilm, consolidated revenue was negatively affected by the declining demand for color films and digital minilabs as well as the impact of falling prices for digital cameras and the appreciation of the Yen. Sales of color photographic paper fell below the level in the same period of the previous fiscal year, reflecting a decrease in demand, Yen appreciation and other factors, the company said, adding that it will continue its marketing promotion measures for photo books and other high-value added print services and implement other strategies to increase market share in principal countries. In the digital camera segment, Fujifilm is striving to leverage innovative technologies including the Super CCD EXR and the Fujifilm Finepix Real 3D system that will be launched in September this year.

Fujifilm’s sales in Europe fell 39.3 percent to Yen 51.8 billion (Euro 458 million) with an operating loss of Yen 3.1 billion (Euro 23 million) after a profit of Yen 3.1 billion in the same period last year.

For the full fiscal year, ending March 31, 2010, Fujifilm continues to expect a net loss of Yen 60 billion (Euro 444 million), an operating loss of Yen 90 billion (Euro 666 million) on sales of Yen 2.3 trillion (Euro 17.0 billion).