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Fujifilm annual revenue down 4.8% on COVID-19

“These severe situations influenced by COVID-19 are expected to continue and we need to pay close attention to the risk of a downturn in the domestic and overseas economies,” said Fujifilm president Kenji Sukeno.

FUJIFILM Corporation Tokyo Midtown headquarter Tokumeigakarinoaoshima
  Fujifilm headquarters, Tokyo (Tokumeigakarinoaoshima)

“In the fiscal year ended March 31, 2020, the Fujifilm Group  recorded ¥2,315.1 billion [$A32.9bn] in consolidated revenue (down 4.8% from the previous fiscal year), reflecting such factors as a sales decrease in the photo imaging business, optical device and electronic imaging business and document business, although sales increased in the medical systems business, bio CDMO business, regenerative medicine business, electronic materials business and others,” Sukeno said.

“Economic activities have been restrained and are rapidly slowing down due to the global pandemic of the new coronavirus infectious disease (COVID-19). Currently, the Japanese economy is also significantly depressed and put into a difficult situation.” 

Segments

In the graphic systems business, revenue decreased due to a declined demand for printing plates and the impact of the COVID-19 epidemic. In the printing plates field, we are promoting the sales of environmentally responsive products including process-less CTP plates.  

In the digital printing field, Fujifilm continues to aim for business growth by developing and providing innovative products such as the Jet Press750S, a commercial inkjet digital press, to the increasingly digitalized commercial and package printing market.

 In the inkjet business, revenue decreased as the sales of industrial inkjet printheads were affected by the decline in demand due to such factors as the economic slowdown in China. In November 2019, Fujifilm launched the Samba JPC, an inkjet printer component that encompasses core parts and software required for developing industrial single-pass inkjet printing devices for commercial and package printing applications. We will continue to develop and supply innovative products for the industrial inkjet printer market, whose areas of application are expanding, thereby contributing to the advancement of various industries.

 In the display materials business, although overall sales decreased due to such factors as production adjustment at panel manufacturers and a declined demand for the WV film, sales remained solid for products related to OLED. 

In the office products field of the office products and printers business, overall sales volume decreased from the same period of the previous fiscal year mainly due to the COVID-19 epidemic. Sales in the Asia Pacific region and exports to Europe and the United States declined, and the domestic sales of the Apeosport-VII C series, our flagship A3 colour multifunction devices, were lower than the previous year in the fourth quarter. On the other hand, the spread of work-from-home as a countermeasure against the COVID-19 infection has increased the demand for the Netprint   service using our multifunction printers installed at Seven-Eleven stores nationwide. In the office printers field, sales volume decreased due to a reduction in low-profitability parts of the low-end printer business.

 In the production services business, although the sales of printers for mission-critical systems decreased, the overall number of sales units increased from the same period of the previous fiscal year as the sales remained strong in each region for an on-demand production colour printer called the IridesseTM Production Press, whose variations for customizing increased with an addition of special toners that realize rich colour expression, and sales were solid for the DocuColor 1450 GA (Model-NE), a colour printer for DTP (Desktop publishing) in Japan.

 In the solutions and services business, overall revenue increased due to a large BPO (Business Process Outsourcing) contract acquired in Australia and solid sales of services in Japan that support design/ introduction/operation/management of IT environments in the office. While strengthening sales of services such as the beat, which realizes a strong security and the easy, convenient network environment, we aim for further growth in the service field by continuously providing new solutions and services that support customers in the diversification of work styles.

 Outlook for the Fiscal Year ending March 31, 2021

 The consolidated performance forecast for the fiscal year ending March 31, 2021 is undecided because of difficulties in calculating a reasonable business forecast at this stage due to the global epidemic of COVID-19. In the future, we will carefully assess its impact on our business performance and will make a public announcement as soon as a reasonable forecast can be disclosed.