Fujifilm Announces the Financial Results for the First Half Ended September 30, 2023

TOKYO, November 8, 2023 – FUJIFILM Holdings Corporation (President and CEO, Representative Director: Teiichi Goto) announced today the financial results for the first half, which ended September 30, 2023.

In the first half, revenue increased by 2.9% year-over-year to JPY1,388.5 billion, mainly due to strong sales in the Medical Systems and Imaging businesses and the impact of exchange rates. Thanks to revenue growth in the Imaging segment, operating income amounted to JPY125.5 billion, increased by 3.9% year-over-year, despite the sluggish semiconductor market for the Electronics Materials business. Net income attributable to FUJIFILM Holdings increased by 19.3% year-over-year to JPY113.6 billion due to valuation gains on marketable and investment securities. In light of the strong performance of the Imaging segment and the current economic environment, including the semiconductor market, full-year consolidated forecast for the fiscal year ending March 2024 remains unchanged from the previous forecast with some adjustments between the businesses, at revenue of JPY2,950.0 billion, operating income of JPY290.0 billion, and net income attributable to FUJIFILM Holdings of JPY225.0 billion, aimed to achieve its record highs. The annual dividend forecast for the fiscal year is JPY150 per share, including the 90th anniversary commemorative dividend of JPY10, marking the 14th consecutive annual dividend increase.

“In the first half of the fiscal year ending September 2023, we achieved unprecedented levels of operating income and net income, thanks to the outstanding performance of our Medical Systems and Imaging businesses,” says Teiichi Goto, president and chief executive officer, representative director, FUJIFILM Holdings Corporation. “Additionally, we are excited about the future growth potential of our Electronic Materials business, as we work to realize the synergies gained from the recent acquisition of the semiconductor process chemicals business of Entegris, Inc. in October. With these positive developments, we are confident that we are on track to achieve record results for the full year. This includes record sales for the second consecutive year, record operating income for the third consecutive year, and record net income for the fourth consecutive year.”

Imaging Highlights:

  • Strong sales of instant photo systems and digital cameras boosted revenue by 19.5% year-over-year to JPY219.2 billion and operating income by 85.5% year-over-year to JPY49.4 billion.
  • In the consumer imaging field, steady sales of the INSTAX instant photo systems drove revenue higher. The expansion of INSTAX film production was announced in September 2023, in response to increasing global demand for the INSTAX series. INSTAX Pal™, a palm-top size camera that allows users to take photos anytime and anywhere, was launched in October 2023. The camera is highly regarded in the marketplace for its features that make shooting experiences easier, and can be connected to the INSTAX Link™ smartphone printer series via Bluetooth to produce INSTAX prints out of images taken with it.
  • In the Professional Imaging business, revenue increased significantly with the launch of the X-S20 in June 2023 in addition to the X-H2, X-H2S and X-T5, which were launched in the previous fiscal year. The latest addition to the GFX Series, the flagship GFX100 II, was launched in September and offers the highest levels of continuous shooting, AF and video performance.

Imaging In the Imaging segment, consolidated revenue amounted to ¥219.2 billion (up 19.5% year-over-year). Consolidated operating income amounted to ¥49.4 billion (up 85.5% year-over-year). In the consumer imaging field, steady sales of the INSTAX instant photo systems drove revenue higher. In September 2023, we announced the expansion of production facilities for INSTAX films in response to the global demand increase for the INSTAX series. We also announced the launch of INSTAX Pal™, a palm-top size camera that allows users to take photos anytime and anywhere. INSTAX Pal™ features a variety of functions to facilitate shooting situations and photographic experiences. It can be connected to the INSTAX Link™ series of smartphone printers via Bluetooth to produce INSTAX prints out of images taken with it. We will continue to expand the world of the INSTAX instant photo system that allows people to enjoy on-the-spot photo printing. In the professional imaging field, sales of the X Series digital cameras rose significantly. In addition to strong sales of the X-H2, X-H2S and X-T5 released in the previous year, we launched the X-S20 all-in-one compact and lightweight model incorporating a high-capacity battery, high-performance AF and video recording functions in June 2023 and expanded the line-up. In September 2023, as the latest model from the GFX Series, we released the flagship model GFX100 II, which features the highest burst-shooting, AF and video performance. We will continue to offer attractive products by achieving overwhelmingly high image quality with the large format in the GFX Series and the best balance between image quality and size in the X Series.

Fujifilm GFX100II:
B&H Photo / Amazon / Moment / Adorama
Fujinon GF55mm f/1.7
B&H Photo / Amazon / Moment  / Adorama
Fujinon GF110mm f/5.6 Tilt Shift
B&H Photo / Amazon / Moment / Adorama
Fujinon GF30mm f/5.6 Tilt Shift
B&H Photo / Amazon / Moment / Adorama

B&H Photo / Amazon / Moment /  Adorama

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