Fujifilm Q3 FY2025 Financial Results

• 1 day ago

Press Release:

FUJIFILM Holdings Corporation announced today its financial results for the 3rd quarter, which ended December 31, 2025. In the nine months of the fiscal year ending March 2026, revenue increased by 4.4% year-over-year to JPY2,429.7 billion, driven by strong sales in the Healthcare, Electronics, and Imaging businesses, which offset the negative impact of exchange rates. Operating income increased by 11.3% year-over-year to JPY248.5 billion, despite impacts of U.S. tariff policy and rising raw material costs, supported by higher gross profit associated with revenue growth. Net income attributable to FUJIFILM Holdings increased by 6.5% year-over-year to JPY193.4 billion.

Reflecting the strong performance of the Electronics and Imaging businesses, the company has revised its full-year consolidated forecast for the fiscal year ending March 2026 upward, increasing operating income by JPY4.0 billion, and net income attributable to FUJIFILM Holdings by JPY2.5 billion. The forecasted revenue is JPY3.30 trillion, with operating income of JPY335.0 billion, and net income attributable to FUJIFILM Holdings of JPY 264.5 billion, aiming to achieve record highs. The annual dividend forecast for the fiscal year is JPY70 per share, marking the 16th consecutive annual dividend increase.

“Fujifilm has delivered record high revenue, operating income and net income for both the third quarter and the nine-month period, driven by strong performance in Electronics and Imaging businesses,” says Teiichi Goto, president and chief executive officer, representative director, FUJIFILM Holdings Corporation. “We will maintain this strong growth momentum and aim to achieve record high revenue and profits for the full fiscal year ending March 2026, while reinforcing our business foundation and executing with discipline to ensure sustained long-term growth.”

Third-quarter financial highlights from October to December by business segments

Healthcare

• Revenue increased by 7.7% year-over-year to JPY 266.1 billion, while operating income decreased by 10.1% year-over-year to JPY 10.3 billion, due to the higher raw material costs driven by surging silver prices, and U.S. tariff policy.
• In the Medical Systems business, strong sales of endoscopes, medical IT products and services, and IVD (In‑Vitro Diagnostics) products drove revenue growth.
• In the Bio CDMO business, revenue increased due to contributions from the new facility in Denmark.
• Revenue in the LS Solutions business increased, supported by the recovery in the cell culture media market.

Electronics

• Revenue increased by 17.0% year-over-year to JPY119.2 billion, and operating income rose by 51.3% year-over-year to JPY28.2 billion.
• In the Electronic Materials business, strong sales of advanced semiconductor materials for generative AI, such as CMP slurry, drove a 25.5% year-over-year increase in revenue.
• In the Advanced Functional Materials business, revenue increased by 3.9% year-over-year, primarily due to higher sales of large-capacity data tapes for major IT companies.

Business Innovation

• Revenue decreased by 5.6% year-over-year to JPY277.8 billion, and operating income declined by 69.2% year-over-year to JPY5.4 billion.
• In the Business Solutions business, revenue continued to grow, supported by strong demand for digital transformation related solutions, maintaining the positive momentum from the previous quarter.
• In the Office Solutions business, revenue declined due to sluggish market conditions in the Asia-Pacific region and the strategic streamlining of low-margin products.
• In the Graphic Communications business, revenue decreased, impacted by weakened market conditions in the European region.

Imaging

• Strong demand for instant photo systems and digital cameras drove revenue by 14.6% year-over-year to JPY194.2 billion, and operating income increased by 12.9% year-over-year to JPY55.1 billion.
• In the Consumer Imaging business, consistent demand for instax^™ instant photo systems contributed to higher revenue.
• In the Professional Imaging business, revenue growth was supported by the strong performance of the X Series and GFX Series cameras.

Fujifilm FY2025 Q3 results: what matters for photographers (for FujiAddict)

Fujifilm’s FY2025 Q3 (quarter ended December 31, 2025) was another strong quarter for the company’s Imaging segment — with double-digit growth driven by both instax and X/GFX camera demand, even as raw material costs (notably silver) weighed on profitability. 

Q3 FY2025: Imaging segment highlights (Oct–Dec 2025)

Imaging segment (total):

• Revenue: ¥194.2B (+14.6% YoY) 
• Operating income: ¥55.1B (+12.9% YoY)
• Operating margin: 28.4% (slightly down vs. prior year) 

Breakdown:

• Consumer Imaging (instax + related): ¥123.0B (+11.3% YoY) 
• Professional Imaging (X & GFX): ¥71.2B (+20.8% YoY) 

What drove it (the photographer-relevant stuff)

Fujifilm pointed to:

• Strong instax sales, calling out models like mini 12 / mini Evo / mini 41 and instax WIDE 400 / WIDE Evo, plus improved supply from expanded instax film production. 
• Strong X and GFX camera sales, including momentum from newer products (listed in the deck as GFX100RF, X half, X-E5, X-T30 III). 
• Profitability tailwind from higher gross margin driven by higher revenue in instax and digital cameras — but partially offset by raw material pressure, specifically soaring silver prices. 

Year-to-date (first 9 months): Imaging keeps booming

For the nine months ended December 31, 2025, Fujifilm’s Imaging segment also posted strong growth:

• Revenue: ¥485.7B (+13.8% YoY) 
• Operating income: ¥135.5B (+17.8% YoY) 

Guidance / outlook: raised imaging expectations

Fujifilm said it revised its profit forecast upward on the back of strong performance in Electronics and Imaging. 

In the same materials, the full-year Imaging revenue forecast was shown at ¥590.0B (with Consumer Imaging ¥340.0B and Professional Imaging ¥250.0B). 

FujiAddict takeaway

Fujifilm’s Imaging story is simple right now: instax remains a growth engine, and X/GFX demand is still hot — strong enough that management explicitly called out Imaging as a driver behind the improved outlook. The only real “watch item” in the quarter was margin pressure from materials costs (silver), which is the kind of headwind that can linger even when cameras are selling like crazy. 

For more details, please visit the Investor Relations section of Fujifilm website

via Fujifilm