05 12-14 fujifilm results-q1-1

  • 285 views
Uploaded on

 

More in: Business , Technology
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
285
On Slideshare
0
From Embeds
0
Number of Embeds
1

Actions

Shares
Downloads
4
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. 1 Earnings of FY2014/3 Apr. 30, 2014 FORWARD-LOOKING STATEMENTS Forward-looking statements, such as those relating to earnings forecasts and other projections contained in this material, are management’s current assumptions and beliefs based on currently available information. Such forward-looking statements are subject to a number of risks, uncertainties, and other factors. Accordingly, actual results may differ materially from those projected due to various factors.
  • 2. 2 2 FY2014/3FY2013/3 ¥ 100 ¥ 134 ¥ 168.07 81.0 3.3% 157.2 6.4% 140.8 5.8% 2,440.0 100.0% ¥ 83 ¥ 107 ¥112.65 54.3 2.5% 119.2 5.4% 114.1 5.2% 2,214.7 100.0% Change Revenue 225.3 +10.2% Operating Income 26.7 +23.4% Income before Income Taxes 38.0 +31.9% Net Income Attributable to FUJIFILM Holdings 26.7 +49.3% Net Income Attributable to FUJIFILM Holdings per Share ¥ 55.42 Exchange Rates US$/¥ €/¥ +¥ 17 +¥ 27 Consolidated Performance for FY2014/3Consolidated Performance for FY2014/3 ((Apr. 2013Apr. 2013 –– MarMar. 201. 20144)) (Billions of yen)(Billions of yen) Note: Analysis of operating income (YoY) Exchange rate fluctuations: + ¥ 33.0 billion, Raw material prices: ¥(0.3) billion Performance Summary of FY2014/3Performance Summary of FY2014/3 Overviewing the global economy during the fiscal year ended March 31, 2014, the general trend of gradual economic recovery persisted. In the United States, the recovery trend in personal consumption is continuing and, along with the firm trend in domestic demand, the movement toward recovery in the corporate sector is strengthening, and the economy keeps expanding gradually. In Europe, though unemployment rates remain high, economy is showing a trend toward gradual recovery centering around personal consumption. Regarding Asia, while the pace of Chinese economic expansion was still slow, the ASEAN countries generally sustained firm economic growth. In Japan, the trends of yen depreciation and stock price rises supported by the preparation of a large- scale supplementary budget and the bold monetary relaxation measures by the Bank of Japan, helped economic expansion. In such circumstances, both consolidated revenue and operating income rose in the FY2014/3, reflecting such factors as strong sales in the medical systems and document businesses, as well as the impact of the falling yen exchange rate. Consolidated revenue totaled to ¥2,440.0 billion, up 10.2% compared with the previous year. Operating income totaled to ¥140.8 billion, up 23.4% compared with the previous year. Including the increase in the foreign exchange gain, income before income taxes was ¥157.2 billion, up 31.9% compared with the previous year, and net income attributable to FUJIFILM Holdings was ¥81.0 billion, up 49.3% compared with the previous year. Net income attributable to FUJIFILM Holdings per share was ¥168.07.
  • 3. 3 3 77.4 (+9.0%)933.9856.5Information Solutions 120.3 (+11.9%)1,132.51,012.2Document Solutions FY2014/3FY2013/3 2,440.0 373.6 27.6 (+8.0%)346.0Imaging Solutions 2,214.7 Full year 225.3 (+10.2%)Total ChangeRevenue FY2014/3 Change Full year Operating Income FY2013/3 0 (+0.0%)72.972.9Information Solutions 20.1 (+26.5%)96.075.9Document Solutions 140.8 (31.7) 3.6 2.2(33.9) Corporate Expenses & Eliminations 4.4 (Returned to profitability) (0.8)Imaging Solutions 114.1 26.7 (+23.4%)Total Imaging FY2013/3 FY2014/3 Consolidated Revenue and Operating Income by SegmentsConsolidated Revenue and Operating Income by Segments (Billions of yen)(Billions of yen) (Billions of yen)(Billions of yen) Note: After elimination of intersegment transaction. (Billions of yen)(Billions of yen) Revenue (Full Year) Information Document (Billions of yen)(Billions of yen) Imaging Information Document Operating income [Operating margin] (Full Year) Note: As of FY2014/3 1Q, the Optical Devices business has been transferred from the information solutions segment to the imaging solutions segment, due to a change in the corporate structure, and some numbers have been changed. Performance Summary of FY2014/3Performance Summary of FY2014/3 200 600 400 800 346.0 373.6 856.5 933.9 1,012.2 1,132.5 0 0 20 80 60 40 (0.8) 72.9 3.6 72.9 [-0.2%] [1.0%] 75.9 96.0 [8.5%] [7.8%] [7.4%] [8.4%] 1,000 FY2013/3 FY2014/3 FY2013/3 FY2014/3 FY2013/3 FY2014/3 FY2013/3 FY2014/3 FY2013/3 FY2014/3 In the imaging solutions segment, revenue amounted to ¥373.6 billion, up 8.0% from the previous year. Operating profit recorded ¥3.6 billion. In the information solutions segment, revenue was ¥933.9 billion, up 9.0% from the previous year. Operating income was ¥72.9 billion, remained the flat from the previous year. In the document solutions segment, revenue was ¥1,132.5 billion, up 11.9% from the previous year. Operating income was ¥96.0 billion, up 26.5% from the previous year.
  • 4. 4 4 Summary by Operating SegmentSummary by Operating Segment Imaging SolutionsImaging Solutions Strong sales for instant cameras and instant films were seen in the photo imaging business. In addition, such high-value-added printing products as Year Album expanded and overall sales rose. In the electronic imaging business, with the worldwide decline in demand for compact digital cameras, thorough measures for fixed-costs reduction were undertaken and the development of business structure focusing on such high-end models as the X-series has been proceeded. Among the X-series, the sales of premium interchangeable lens cameras proceeded smoothly. Robust sales were seen in the optical devices field, owing to the large sales increase in camera modules for smartphones as well as strong sales of TV camera lenses and others Revenue increased and the segment turned into profitability,Revenue increased and the segment turned into profitability, reflecting such factors as the strong sales in the photoreflecting such factors as the strong sales in the photo imaging business, the falling yen exchange rate,imaging business, the falling yen exchange rate, and fixedand fixed--cost reductions.cost reductions. Note: As of FY2014/3 1Q, the Optical Devices business has been transferred from the information solutions segment to the imaging solutions segment, due to a change in the corporate structure, and some numbers have been changed. Performance Summary of FY2014/3Performance Summary of FY2014/3 (Billions of yen)(Billions of yen) 27.6 (+8.0%) YoY 373.6 Revenue YoYOperating income 4.4 (Returned to profitability)3.6 In the photo imaging business, sales increased for “instax” instant cameras and its films, while such sales of high-value-added printing products as Year Album expanded and overall sales rose. As for the electronic imaging field, in line with the continuous worldwide decline in overall demand for compact digital cameras, thorough measures for fixed-cost reduction were undertaken and the development of business structure focusing on such high-end models as the X-series has been proceeded. Among the X-series, the sales of such high-end models including premium interchangeable lens cameras FUJIFILM X-E2 and FUJIFILM X-T1, proceeded smoothly. Robust sales were seen in the optical devices field, owing to the large sales increase in camera modules for smartphones as well as strong sales of TV camera lenses. As a result, sales in the optical device & electronic imaging products business increased. Despite the negative impact of the decline in overall demand for compact digital cameras, revenue increased and the Company achieved profitability in the imaging solutions segment, reflecting such positive factors as the strong sales in the photo imaging business, mainly instant cameras, as well as the falling yen exchange rate and fixed-cost reductions.
  • 5. 5 5 Information SolutionsInformation Solutions In the medical systems business, strong sales were seen in such growth fields as medical-use picture archiving and communications systems and endoscopes, and overall sales increased. As for the pharmaceuticals business, sales grew, reflecting strong sales in Toyama Chemical and FUJIFILM Pharma. Sales in overall healthcare field greatly increased. In the FPD materials business, sales of WV film declined, reflecting the impact of weak demand for desktop monitors. On the other hand, as the TV display size is getting larger, the sales of VA film and IPS film proceeded smoothly. Sales grew immensely in the graphic systems business, owing to the expanded market shares of CTP plates as well as the positive impact of the falling yen exchange rate. In the industrial products business, sales greatly increased as strong sales were seen in industrial-use X-ray films and new highly functional materials as EXCLEAR, a sensor film for touch panels, contributed to sales. In addition, sales increased in the electronic materials and recording media businesses. Strong sales in such fields as healthcare and the positive impacStrong sales in such fields as healthcare and the positive impact oft of the falling yen exchange rate led the increase in revenue.the falling yen exchange rate led the increase in revenue. Profit remained flat, owing to the impact of such factors asProfit remained flat, owing to the impact of such factors as sales of patents during the previous fiscal year.sales of patents during the previous fiscal year. Note: As of FY2014/3 1Q, the Optical Devices business has been transferred from the information solutions segment to the imaging solutions segment, due to a change in the corporate structure, and some numbers have been changed. Performance Summary of FY2014/3Performance Summary of FY2014/3 Summary by Operating SegmentSummary by Operating Segment (Billions of yen)(Billions of yen) 0 (+0.0%)72.977.4 (+9.0%)933.9 YoYRevenue YoYOperating income As for the healthcare field, strong sales were seen in the medical systems business, especially in such growth fields of medical-use picture archiving and communications systems as well as endoscopes. Sales also rose in the pharmaceuticals business, due to such factors as the continuing strong sales of ZOSYN from Toyama Chemical and smooth sales of pharmaceuticals for which FUJIFILM Pharma obtained through a partnership agreement with Bayer Yakuhin Ltd. The Company has been proceeding the speed-up development for new drugs. Regarding the FPD materials business, sales of WV film declined, reflecting the impact of weak demand for desktop monitors. On the other hand, as the TV display size is getting larger, the sales of VA film and IPS film proceeded smoothly. Sales grew immensely in the graphic systems business, owing to the expanded market shares of CTP plates as well as the positive impact of the falling yen exchange rate. Regarding the industrial products business, the sales increased as the sales of industrial-use X-ray films proceeded smoothly and such new highly functional materials as EXCLEAR, a sensor film for touch panels, contributed to sales. In addition, sales increased in the electronic materials and recording media businesses. Revenue rose in the information solutions segment, owing to strong sales in such fields as healthcare and the falling yen exchange rate. On the other hand, the profit remained flat compared to the previous fiscal year, which had impacts of such factors as sales of patents.
  • 6. 6 6 • Sales in Japan and the Asia-Oceania region as well as shipments for Xerox Corporation increased. • As for the office products business, sales volume of color products increased in all regions. In addition, strong sales of monochrome products were seen in the Asia-Oceania region. • In the office printers business, the sales of color products in the Asia-Oceania region as well as the shipment volume for Xerox Corporation increased. • Regarding the production services business, sales of color on-demand publishing systems increased in Japan and the Asia-Oceania region, and the shipment volume for Xerox Corporation also increased leading to an increase in overall sales volume. • Sales grew in the global services business in both Japan and the Asia-Oceania region. • In addition to the rise in revenue, improvement in manufacturing costs and expenses contributed to the increase in profit. Document SolutionsDocument Solutions Strong sales were seen in each region,Strong sales were seen in each region, and both revenue and profit increased.and both revenue and profit increased. Performance Summary of FY2014/3Performance Summary of FY2014/3 Summary by Operating SegmentSummary by Operating Segment (Billions of yen)(Billions of yen) 120.3 (+11.9%) YoY 1,132.5 Revenue YoYOperating income 20.1 (+26.5%)96.0 In the document solutions segment, sales in Japan and the Asia-Oceania region as well as shipments for Xerox Corporation increased. As for the office products business, the sales volume for color products increased in all regions. In addition, sales volume for monochrome products grew in the Asia-Oceania region. In the office printers business, strong sales were seen for color products in the Asia-Oceania region and sales volume increased. Regarding the production services business, sales of color on-demand publishing systems grew in all regions, and overall sales volume increased. Sales growth was seen in the global services business in Japan and the Asia- Oceania region. Both revenue and profit increased in the document solutions segment, due to the sales increase as well as improvement in manufacturing costs and expenses.
  • 7. 7 7 3,227.0 1,465.3 511.9 423.1 530.3 1,761.7 156.6 363.7 636.8 604.6 Mar. 14 2,739.7 1,417.7 470.3 393.5 553.9 1,322.0 152.4 378.0 556.5 235.1 Mar. 12 3,059.6 1,498.3 540.0 412.2 546.1 1,561.3 127.1 399.9 588.9 445.4 Mar. 13 Change from Mar. 13 Cash and cash equivalents 159.2 Notes and accounts receivable 47.9 Inventories (36.2) Marketable securities and other 29.5 Total current assets 200.4 Property, plant and equipment (15.8) Goodwill, net 10.9 Investment securities and other (28.1) Total noncurrent assets (33.0) Total assets 167.4 3,227.0 2,198.2 177.6 2,020.6 1,028.8 403.2 265.9 359.7 Mar. 14 2,739.7 1,856.5 134.7 1,721.8 883.2 425.9 258.4 198.9 Mar. 12 Mar. 13 Change from Mar. 13 Short-term and long-term debt 358.3 1.4 Notes and accounts payable 251.0 14.9 Other liabilities 425.5 (22.3) Total liabilities 1,034.8 (6.0) Total FUJIFILM Holdings shareholders' equity 1,868.9 151.7 Noncontrolling interests 155.9 21.7 Total equity 2,024.8 173.4 Total liabilities and equity 3,059.6 167.4 ¥142 ¥103 Mar. 14 ¥121 ¥94 Mar. 13 +¥21 +¥9 Change from Mar. 13 ¥110 ¥82 Mar. 12 Exchange Rates US$/¥ €/¥ Consolidated Balance SheetConsolidated Balance Sheet (Billions of yen)(Billions of yen) Performance Summary of FY2014/3Performance Summary of FY2014/3 (Yen)(Yen) Total assets, as of March 31, 2014, totaled ¥3,227.0 billion, up ¥167.4 billion from March 31, 2013. This was mainly due to an increase in cash and cash equivalents and the impact of the falling yen exchange rate. Total liabilities amounted to ¥1,028.8 billion, down ¥6.0 billion, owing to a decrease in accrued pension and severance costs and other factors. Total FUJIFILM Holdings shareholders’ equity was ¥2,020.6 billion, up ¥151.7 billion. As a result, the current ratio increased by 9.6 points, to 295.4%, the debt-equity ratio decreased by 4.5 points, to 50.9%, and the equity ratio increased by 1.5 points, to 62.6%. The Company is confident that it is maintaining a stable level of asset liquidity and a sound capital structure.
  • 8. 8 8 -500 0 500 1000 1500 2000 2500 3000 11年度 12年度 13年度 58.5 (140.9) (44.1) 13.3 (20.2) (89.9) 199.4 21.9 (31.9) (24.1) 11.8 9.0 141.5 71.2 FY2013/3 (24.6)(21.0)Purchases of software (125.5)(185.9)C/F from investing activities 167.0(50.8)Free cash flows (25.0)(89.5)Others (5.6)25.4Sales and purchases of marketable and investment securities (70.3)(100.8)Capital expenditure 292.5135.1C/F from operating activities 11.032.8Others (2.9)(22.3) Change in accrued income taxes and other liabilities 7.2(5.4)Change in notes and accounts payable-trade 58.0(24.5)Change in inventories (24.3)(50.3)Change in notes and accounts receivable 141.4147.8Depreciation & amortization 102.157.0Net income FY2014/3FY2012/3 34.3 109.5 222.2C/F from operating activities + Capital expenditure C/F from operating activities C/F from investing activities Free cash flows Cash FlowsCash Flows (Billions of yen)(Billions of yen) FY2012/3 FY2013/3 FY2014/3 Cash Flows (Billions of yen)(Billions of yen) 150 100 50 0 300 Performance Summary of FY2014/3Performance Summary of FY2014/3 135.1 199.4185.9 140.9 (50.8) 58.5 292.5 125.5 167.0 250 200 (50) Cash provided by operating activities totaled ¥292.5 billion, mainly due to an increase in net income and decrease in inventories. Cash used in investing activities amounted to ¥125.5 billion, primarily due to purchases of property, plant and equipment. Thus, free cash flows were ¥167.0 billion.
  • 9. 9 9 Earnings for FY2014/3 AppendixAppendix
  • 10. 10 10 Earnings for FY2014/3 4Q/Full yearEarnings for FY2014/3 4Q/Full year ChangeFY2014/3FY2013/3ChangeFY2014/3FY2013/3 +¥ 10 +¥ 19 (7.0) -27.2% (13.4) -23.8% (7.5) -15.5% 62.1 +10.3% ¥ 103 ¥ 141 18.5 2.8% 43.0 6.5% 41.2 6.2% 665.6 100.0% ¥ 93 ¥ 122 25.5 4.2% 56.4 9.3% 48.7 8.1% 603.5 100.0% 4Q Full year ¥ 100 ¥ 134 81.0 3.3% 157.2 6.4% 140.8 5.8% 2,440.0 100.0% ¥83 ¥107 54.3 2.5% 119.2 5.4% 114.1 5.2% 2,214.7 100.0% Revenue 225.3 +10.2% Operating Income 26.7 +23.4% Income before Income Taxes 38.0 +31.9% Net Income Attributable to FUJIFILM Holdings 26.7 +49.3% Exchange Rates US$/¥ €/¥ +¥ 17 +¥ 27 FY2014/3 AppendixFY2014/3 Appendix Note: Analysis of operating income (Full year, YoY) Exchange rate fluctuations: ¥+33 billion, Raw material prices: ¥(0.3) billion (Billions of yen)(Billions of yen)
  • 11. 11 11 (Billions of yen)(Billions of yen) (Billions of yen)(Billions of yen)Note: After elimination of intersegment transaction. Change 62.1 (+10.3%) 30.3 (+10.9%) 22.9 (+9.5%) 8.9 (+10.4%) Change 77.4 (+9.0%)933.9856.5262.8239.9Information Solutions 120.3 (+11.9%)1,132.51,012.2307.3277.0Document Solutions FY2014/3FY2014/3 FY2013/3FY2013/3 2,440.0 373.6 665.6 95.5 27.6 (+8.0%)346.086.6Imaging Solutions 2,214.7 Full year 225.3 (+10.2%)603.5Total 4Q Revenue Change (7.5) (-15.5%) 0 1.6 (+6.9%) (11.1) (-36.3%) 2.0 (+63.1%) Change FY2014/3FY2014/3 Full year4QOperating Income [Operating Margin] FY2013/3FY2013/3 0 (+0.0%) 72.9 [7.8%] 72.9 [8.5%] 19.4 [7.4%] 30.5 [12.7%] Information Solutions 20.1 (+26.5%) 96.0 [8.4%] 75.9 [7.4%] 25.1 [8.1%] 23.5 [8.4%] Document Solutions 140.8 [5.8%] (31.7) 3.6 [1.0%] 41.2 [6.2%] (8.4) 5.1 [5.2%] 2.2(33.9)(8.4) Corporate Expenses & Eliminations 4.4 (Returned to profitability) (0.8) [-0.2%] 3.1 [3.6%] Imaging Solutions 114.1 [5.2%] 26.7 (+23.4%) 48.7 [8.1%] Total Note: As of FY2014/3 1Q, the Optical Devices business has been transferred from the information solutions segment to the imaging solutions segment, due to a change in the corporate structure, and some numbers have been changed. FY2014/3 AppendixFY2014/3 Appendix Earnings for FY2014/3 4Q/Full yearEarnings for FY2014/3 4Q/Full year
  • 12. 12 12 FY2014/3 4Q (3 Months) Performance by Operating SegmentFY2014/3 4Q (3 Months) Performance by Operating Segment Imaging SolutionsImaging Solutions Information SolutionsInformation Solutions Document SolutionsDocument Solutions Expanded lineups of instant photo system by introducing “instax SHARE Smartphone Printer SP-1,” which can print out the images taken by smartphones, launched in February 2014. Sales of “FUJIFILM X-T1” launched in February 2014 proceeded smoothly. Robust sales continued in camera modules for smartphones. Sales proceeded smoothly in the medical systems, whose seasonal sales peak is in 4Q. The sales increase continued in the pharmaceuticals businesses owing to the smooth sales of contract manufacturing of biopharmaceuticals business, while there were fewer cases of infectious diseases compared with the previous year. In the FPD materials business, which has usually less demand in 4Q, sales was in line with the Company’s expectation. As for the graphic systems business, sales of CTP plates and digital printing proceeded smoothly. Sales increased in Japan and elsewhere in the Asia-Oceania region, as well as shipments for Xerox Corporation. The rise in gross operating profit, due to sales growth, as well as the improvement in both manufacturing costs and expenses contributed to the increase in operating income. FY2014/3 AppendixFY2014/3 Appendix
  • 13. 13 13 Imaging SolutionsImaging Solutions (Billions of yen)(Billions of yen) (Billions of yen)(Billions of yen) Note: After elimination of intersegment transaction. Full year4Q 8.9 (+10.4%) 9.8 (+29.6%) 5.8 (+41.1%) 4.0 (+20.9%) (0.9) (-1.7%) Change 95.5 43.2 20.1 23.1 52.3 FY2014/3 86.6 33.4 14.3 19.1 53.2 FY2013/3 (5.9) (-6.4%)86.192.0Electronic Imaging 20.6 (+40.3%)71.851.2Optical Devices 14.7 (+10.3%)157.9143.2 Optical Device & Electronic Imaging Products 12.9 (+6.4%)215.7202.8Photo Imaging 373.6 FY2014/3 27.6 (+8.0%)346.0Total FY2013/3 Change Revenue Full year4Q 2.0 (+63.1%) Change 5.1 [5.2%] FY2014/3 3.1 [3.6%] FY2013/3 3.6 [1.0%] FY2014/3 4.4 (Returned to profitability) (0.8) [-0.2%] Imaging Solutions FY2013/3 Change Operating Income [Operating Margin] Note: As of FY2014/3 1Q, the Optical Devices business has been transferred from the information solutions segment to the imaging solutions segment, due to a change in the corporate structure, and some numbers have been changed. FY2014/3 AppendixFY2014/3 Appendix Earnings for FY2014/3 4Q/Full yearEarnings for FY2014/3 4Q/Full year
  • 14. 14 14 14.3 16.9 18.7 16.1 20.1 20.6 19.9 23.1 53.2 48.5 51.8 63.1 52.3 22.5 19.1 -20 0 20 40 60 80 100 120 -5 Change in Quarterly Earnings by Operating SegmentChange in Quarterly Earnings by Operating Segment Imaging SolutionsImaging Solutions Note: After elimination of intersegment transaction. (Billions of yen)(Billions of yen) Revenue 86.0 86.6 86.0 -0.9 (-1.1%) 3.1 (3.6%) 80 40 0 20 10 0 FY2014/3 2Q FY2014/3 3Q FY2014/3 4QFY2013/3 4Q FY2014/3 1Q Photo Imaging Electronic Imaging Operating Income for Imaging Solutions (Operating Margin) Optical Devices Optical Device & Electronic Imaging Products Operating Income 90.4 -4.5 (-4.9%) Note: As of FY2014/3 1Q, the Optical Devices business has been transferred from the information solutions segment to the imaging solutions segment, due to a change in the corporate structure, and some numbers have been changed. FY2014/3 AppendixFY2014/3 Appendix 101.7 3.9 (3.8%) 95.5 5.1 (5.2%) 30120
  • 15. 15 15 Information SolutionsInformation Solutions (Billions of yen)(Billions of yen) (Billions of yen)(Billions of yen)Note: After elimination of intersegment transaction. Note: Due to a partly business transfer between the Graphic Systems and the Industrial Products businesses, some numbers have been changed. Full year4Q (11.1) (-36.3%) Change 19.4 [7.4%] FY2014/3 30.5 [12.7%] FY2013/3 72.9 [7.8%] FY2014/3 0 (+0.0%) 72.9 [8.5%] Information Solutions FY2013/3 Change Operating Income [Operating Margin] 38.3 (+15.8%)280.0241.711.2 (+17.2%)75.764.5Graphic Systems (15.3) (-10.0%)138.2153.5(5.3) (-15.4%)29.234.5FPD Materials 4.0 (+9.4%)46.542.50.4 (+3.3%)13.413.0Recording Media Change 22.9 (+9.5%) 2.1 (+10.5%) 14.5 (+13.4%) Change 5.7 (+7.1%)87.281.522.320.2 Industrial Products Electronic Materials & Others FY2014/3FY2014/3 FY2013/3FY2013/3 933.9 382.0 262.8 122.2 44.7 (+13.2%)337.3107.7Healthcare 856.5 Full year 77.4 (+9.0%)239.9Total 4Q Revenue Note: As of FY2014/3 1Q, the Optical Devices business has been transferred from the information solutions segment to the imaging solutions segment, due to a change in the corporate structure, and some numbers have been changed. FY2014/3 AppendixFY2014/3 Appendix Earnings for FY2014/3 4Q/Full yearEarnings for FY2014/3 4Q/Full year
  • 16. 16 16 13.4 107.7 122.2 20.8 22.322.520.2 21.6 11.013.0 10.9 11.2 29.233.835.240.034.5 66.0 69.6 75.768.764.5 92.2 87.979.7 0 40 80 120 160 200 240 280 12.4Q 13.1Q 13.2Q 13.3Q 13.4Q 0.0 5.0 10.0 15.0 20.0 25.0 30.0 35.0 Healthcare Graphic Systems Information SolutionsInformation Solutions Operating Income (Billions of yen)(Billions of yen) Note: After elimination of intersegment transaction. Change in Quarterly Earnings by Operating SegmentChange in Quarterly Earnings by Operating Segment 239.9 217.4 30.5 (12.7%) 10 0 20 30240 160 80 0 Revenue 11.5 (5.3%) FPD Materials Recording Media Industrial Products Electronic Materials & Others Operating Income for Information Solutions (Operating Margin) Note: Due to a partly business transfer between the Graphic Systems and the Industrial Products businesses, some numbers have been changed. FY2014/3 2Q FY2014/3 3Q FY2014/3 4QFY2013/3 4Q FY2014/3 1Q 230.5 20.3 (8.8%) Note: As of FY2014/3 1Q, the Optical Devices business has been transferred from the information solutions segment to the imaging solutions segment, due to a change in the corporate structure, and some numbers have been changed. FY2014/3 AppendixFY2014/3 Appendix 223.2 21.7 (9.7%) 262.8 19.4 (7.4%)
  • 17. 17 17 Document SolutionsDocument Solutions Note: After elimination of intersegment transaction. (Billions of yen)(Billions of yen) (Billions of yen)(Billions of yen) 25.4 (+16.0%)183.9158.57.7 (+17.8%)50.642.9Office Printers 7.1 (+4.8%)155.5148.4(0.1) (-0.1%)42.742.8 Production Services 31.8 (+26.0%)154.1122.35.0 ( +12.6%)44.639.6Global Services Change 30.3(+10.9%) 10.0(+35.7%) 7.7 (+6.2%) Change 30.1 (+32.1%)124.194.038.128.1Others FY2014/3FY2014/3 FY2013/3FY2013/3 1,132.5 514.9 307.3 131.3 25.9 (+5.3%)489.0123.6Office Products 1,012.2 Full year 120.3 (+11.9%)277.0Total 4Q Revenue Full year4Q 1.6 (+6.9%) Change 25.1 [8.1%] FY2014/3 23.5 [8.4%] FY2013/3 96.0 [8.4%] FY2014/3 20.1 (+26.5%) 75.9 [7.4%] Document Solutions FY2013/3 Change Operating Income [Operating Margin] FY2014/3 AppendixFY2014/3 Appendix Earnings for FY2014/3 4Q/Full yearEarnings for FY2014/3 4Q/Full year
  • 18. 18 18 39.6 39.6 44.6 35.9 39.3 37.6 42.7 42.9 42.2 45.4 45.8 50.6 36.033.9 42.8 131.3 130.0 127.7 125.9 123.6 0 5 10 15 20 25 30 35 Office Products Office Printers Production Services Global Services Document SolutionsDocument Solutions (Billions of yen)(Billions of yen) Operating Income for Document Solutions (Operating Margin) Revenue Operating Income Note: After elimination of intersegment transaction. Change in Quarterly Earnings by Operating SegmentChange in Quarterly Earnings by Operating Segment 277.0 23.5 (8.4%) 21.7 (8.1%) 265.3 0 300 200 100 30 20 10 0 FY2014/3 2Q FY2014/3 3Q FY2014/3 4QFY2013/3 4Q FY2014/3 1Q 24.5 (8.5%) 284.7 FY2014/3 AppendixFY2014/3 Appendix 24.7 (8.9%) 275.2 307.3 25.1 (8.1%)
  • 19. 19 19 Revenue from Domestic and OverseasRevenue from Domestic and Overseas (Billions of yen)(Billions of yen) FY2014/3FY2013/3 100.0% 57.5% 27.6% 10.6% 12.0% 17.9% 42.5% Ratio (%) 225.3 (+10.2%)2,440.02,214.7100.0%Consolidated total 190.8 (+15.7%)1,403.11,212.354.7%Overseas 105.0 (+18.5%)673.6568.625.7%Asia and others 53.4 (+26.2%)257.2203.89.2%China 42.4 (+16.9%)292.8250.411.3%Europe 43.4 (+11.0%)436.7393.317. 7%The Americas 34.5 (+3.4%)1,036.91,002.445.3%Domestic Change Ratio (%) FY2014/3 AppendixFY2014/3 Appendix
  • 20. 20 20 75.0 120.0 - - - - 75.0 - - - - FY2015/3 (Forecast) Full year4Q 93.4 141.5 13.3 71.8 53.1 3.3 76.7 9.9 39.9 24.8 2.1 FY 2013/3 26.9 38.9 4.5 20.0 13.7 0.7 23.6 2.8 9.1 11.0 0.7 FY 2013/3 96.6 147.8 14.6 72.5 57.5 3.2 90.9 12.8 56.2 19.3 2.6 FY 2012/3 90.7 141.4 13.5 68.6 56.1 3.2 67.0 9.3 32.4 23.9 1.4 FY 2014/3 25.4 37.1 4.1 17.8 14.4 0.8 17.6 1.8 10.6 4.9 0.3 FY 2014/3 27.1 39.9 4.7 20.1 14.2 0.9 27.7 4.2 14.7 8.2 0.6 FY 2012/3 Imaging Information Document Corporate Imaging Information Document Corporate Depreciation* Depreciation& Amortization Capex * Capital ExpenditureCapital Expenditure , Depreciation & Amortization, Depreciation & Amortization *Note: Figures do not include amounts for rental equipment handled by the Document Solutions segment. (Billions of yen)(Billions of yen) Imaging Solutions Document Solutions Corporate Information Solutions Depreciation & Amortization (Full year) Capital Expenditure (Full year) FY2012/3 FY2013/3 FY2012/3 FY2013/3 FY2014/3 FY2014/3 Note: As of FY2014/3 1Q, the Optical Devices business has been transferred from the information solutions segment to the imaging solutions segment, due to a change in the corporate structure, and some numbers have been changed. FY2014/3 AppendixFY2014/3 Appendix 90.9 12.8 19.3 76.7 39.9 24.8 32.4 23.9 56.2 9.9 67.0 9.3 14.6 72.5 57.5 147.8 141.5 13.3 71.8 53.1 141.4 13.5 68.6 56.1
  • 21. 21 21 Imaging Solutions Document Solutions Corporate Information Solutions R&D Expenses, SG&A ExpensesR&D Expenses, SG&A Expenses (Billions of yen)(Billions of yen) R&D Expenses (Full year) FY2013/3 FY2014/3 23.4% 156.0 6.3% 41.6 0.2 17.8 15.9 7.7 FY2014/3 22.1% 133.6 7.5% 45.0 2.2 19.2 17.3 6.3 FY2013/3 4Q Full year 25.2% 615.9 6.7% 164.4 6.1 67.5 63.4 27.4 FY2014/3 7.6%<ratio to revenue> 10.5 67.5 63.4 26.8 Imaging Information Document Corporate 25.6% 568.2 168.2 FY2013/3 <ratio to revenue > SG&A Expenses R&D Expenses Note: As of FY2014/3 1Q, the Optical Devices business has been transferred from the information solutions segment to the imaging solutions segment, due to a change in the corporate structure, and some numbers have been changed. FY2014/3 AppendixFY2014/3 Appendix 63.4 67.5 10.5 168.2 164.4 6.1 67.5 63.4 26.8 27.4
  • 22. 22 22 Exchange Rates, Raw Material Prices, and Number of EmployeesExchange Rates, Raw Material Prices, and Number of Employees Exchange RatesExchange Rates Number of EmployeesNumber of Employees (yen)(yen) Impact of exchange rate movements on operating income ( FY2015/3 full year, ¥1 change) US$/¥: ¥1.0 billion €/¥: ¥0.8 billion 80,322 2013 Mar. 79,965 2013 Jun. 79,837 2013 Sep. 80,113 2013 Dec. 78,595 2014 Mar. Consolidated Total Raw Material PricesRaw Material Prices (Average) ((¥¥1,000/kg)1,000/kg) 135 100 Full year Forecast FY2015/3 141 103 4Q FY2014/3FY2013/3 137 101 3Q 105 81 3Q 129 99 1Q 134 100 Full year 131 99 2Q 103 80 1Q 98 79 2Q 122 93 4Q 107 83 Full year US$/¥ €/¥ 80 Full year Forecast FY2015/3 67 4Q FY2014/3FY2013/3 68 3Q 83 3Q 78 1Q 71 Full year 68 2Q 79 1Q 71 2Q 91 4Q 81 Full year Silver FY2014/3 AppendixFY2014/3 Appendix
  • 23. 23 23 PipelinePipeline Note: FKB327 (a biosimilar of adalimumab) from FUJIFILM KYOWA KIRIN Biologics, a equity method affiliated company, started P I clinical trials in Europe on April 2013 as planned. Bio Bio Under non-clinical trial U.S.A./Europe/ Japan Injection Anticancer drug (intractable solid cancer) FF-10502 PⅠJapan Radiopharmaceuticals (diagnosis drug for prostate cancer ) F-1311 Under non-clinical trial U.S.A./Europe/ Japan Injection Anticancer drug (intractable solid cancer) (armed antibody) FF-21101 Preparing for PⅠU.S.A. PⅠJapanOralAnticancer drug (myelodysplastic syndrome) FF-10501 PⅢJapanInjectionAnticancer drug (prostate cancer)ITK-1 PⅠJapanOralMacrolide antibacterial agentT-4288 Completed PⅠJapan PⅡU.S.A.OralAlzheimer's disease drugT-817MA PⅠU.S.A.InjectionAntifungal agentT-2307 Already launched as Geninax in Japan Submitted an application for permission ChinaOral New-type quinolone synthetic antibacterial agent T-3811 PⅢU.S.A.OralAntiviral agentT-705 NoteDevelopment stageRegionFormulationTherapeutic category Development code FY2014/3 AppendixFY2014/3 Appendix
  • 24. 24 24 AppendixAppendix ・ Business presentation materials - Nov. 2013 Business Presentation for Medical Systems Business - Nov. 2013 Business Presentation for Pharmaceuticals Business FUJIFILM HoldingsFUJIFILM Holdings -- Investor RelationsInvestor Relations http://www.fujifilmholdings.com/en/investors/index.html What Kind of Company Is Fujifilm?What Kind of Company Is Fujifilm? http://www.fujifilmholdings.com/en/investors/guidance/index.html IRIR Events MaterialsEvents Materials http://www.fujifilmholdings.com/en/investors/ir_events/business_presentations/index.html FUJIFILM Holdings Annual Report 2013FUJIFILM Holdings Annual Report 2013 http://www.fujifilmholdings.com/en/investors/annual_reports/2013/index.html FY2014/3 AppendixFY2014/3 Appendix
  • 25. 25 25 Earnings of FY2014/3 Forecast for FY2015/3 FORWARD-LOOKING STATEMENTS Forward-looking statements, such as those relating to earnings forecasts and other projections contained in this material, are management’s current assumptions and beliefs based on currently available information. Such forward-looking statements are subject to a number of risks, uncertainties, and other factors. Accordingly, actual results may differ materially from those projected due to various factors. Apr. 30, 2014
  • 26. 26 26 (Billions of yen)(Billions of yen) Note: Impact of exchange rate movements on operating income (FY2015/3 full year, ¥1 change) US$/¥: ¥1.0 billion €/¥: ¥0.8 billion Consolidated Financial Forecast for FY2015/3Consolidated Financial Forecast for FY2015/3 (as of Apr. 30, 2014)(as of Apr. 30, 2014) ¥ 100 ¥ 135 ¥ 176.36 85.0 3.5% 160.0 6.5% 160.0 6.5% 2,460.0 100.0% FY2015/3 - +¥ 1 ¥ 8.29 4.0 +4.9% 2.8 +1.8% 19.2 +13.6% 20.0 +0.8% Change from previous year FY2014/3 ¥ 100 ¥ 134 ¥168.07 81.0 3.3% 157.2 6.4% 140.8 5.8% 2,440.0 100.0% Revenue Operating Income Income before Income Taxes Net Income Attributable to FUJIFILM Holdings Net Income Attributable to FUJIFILM Holdings per Share Exchange Rates US$/¥ €/¥ Premises for silver price (FY2015/3 full year): ¥80,000/kg Forecast for FY2015/3Forecast for FY2015/3 As for the consolidated financial forecast for FY2015/3, revenue is expected to increase in the Company’s mainstay segments of healthcare, document and other businesses. On the other hand, in the digital camera business, performance has been adversely influenced by use of smartphones, and, as a result of focusing on such high-end models as the X-Series, the number of units sold and sales are forecast to decline. In total, the revenue is set at ¥2,460.0 billion, up ¥20.0 billion from the previous year. After taking account of the strategic acceleration of the Company’s activities to develop new pharmaceuticals and increase in such cost as raw material costs, operating income is set at ¥160.0 billion, up 13.6% from the previous year, though the operating income is forecast to rise about ¥30.0 billion as a result of improvement in healthcare, document, digital camera and other businesses as well as a change in the method for depreciation. Income before income taxes is set at ¥160.0 billion, up 1.8% from the previous year and net income attributable to FUJIFILM Holdings is set at ¥85.0 billion, up 4.9% from the previous year. The projected currency exchange rates for the FY2015/3 for U.S. dollar and euro against the yen are ¥100 and ¥135 respectively. The Company plans to disburse ¥10.0 of a special dividend in commemoration of its 80th anniversary. Combined with an ordinary dividend of another ¥40.0 per share, the dividends in FY2014/3 are expected to total ¥50.0 per share. Regarding the FY2015/3, the amount of cash dividends is to be determined.
  • 27. 27 Stable growth in the Healthcare business field is expected. As for Medical Systems business, it is aimed at achieving double-digit sales growth of medical IT, endoscopes and ultrasound equipment, continuing from previous fiscal year. For Medical IT, it is aimed at expanding sales of the integrated system which connects in- hospital and regional medical institutions, utilizing its strong market positions for PACS, attained the No.1 domestically and the No.2 worldwide (estimated). For endoscopes, the Company will focus on the sales of its strong field such as new products of transnasal endoscopes and double-balloon endoscopes launched last year, and laser endoscopes, especially in emerging countries. As for ultrasound, Fujifilm and SonoSite jointly developed an epoch-making portable ultrasound system for the first time, which is announced in April 2014. The product features portability and high operatively, as well as greatly increased image quality, and it is expected that the product expands the variety of uses compared with previous models. The other new stationary system has several features so that even new doctors can use it easily by aiming at new market development. Also it is planned to expand sales utilizing SonoSite’s strength in developing new customers. As for sales activities, SonoSite, which is strong in the North American market, and Fujifilm, which has many subsidiaries worldwide, will make use of each sales channel. In addition, the Company is continuing to reduce equipment costs, which has been leading to profitability improvement. 27 Forecast for FY2015/3Forecast for FY2015/3 Consolidated Financial Forecast for FY2015/3 : Main PointsConsolidated Financial Forecast for FY2015/3 : Main Points (as of Apr. 30, 2014)(as of Apr. 30, 2014) ■Stable Growth in Healthcare Business <Medical Systems> ・Realize double-digit growth in revenue in medical IT, endoscopes and ultrasound 【Medical IT】 - Utilize the strong market position for PACS, attained the No.1 share domestically and the No.2 share worldwide* to expand sales of the integrated system, which connects in-hospital and regional medical institutions. 【Endoscopes】 - Expand sales of the new products of transnasal endoscopes, double-balloon endoscopes, and laser endoscopes, which are the Company’s strength. - Strengthen the sales in emerging countries. 【Ultrasound】 Expand sales of epoch-making portable ultrasound system first jointly developed by Fujifilm and SonoSite, and new stationary system, which aims at new market development utilizing the sales channels of both companies. ・Improve profitability by further equipment cost reductions *Estimated
  • 28. 28 In the pharmaceuticals business, the Company aims double-digit growth in sales mainly in existing businesses such as Toyama Chemical and other subsidiaries. In addition, the company is implementing an active R&D program with the objective to have new pharmaceuticals, including out-licensing, contribute to profitability at an early date. Specific progress in the pharmaceutical pipeline includes the joint research with MD Anderson Cancer Center in the U.S. on three new anticancer drugs candidates. These are scheduled to enter Phase I clinical trials during the current quarter. The Company also progresses in the development of T-817MA, an Alzheimer’s disease drug. It is scheduled to begin collaborative clinical trials with the Alzheimer’s Disease Cooperative Study (ADCS) consortium, the largest research initiative in the U.S. in this 1st quarter. By working with ADCS, which has extensive experience in this area, the Company is aiming to accelerate the development of the drug by increasing the quality and speed of our clinical development activities. Also in relation to T-817MA, the Company has made the decision to conduct joint research with the Center for iPS Cell Research and Application of Kyoto University. This research will include the analysis of drug efficacy as well as searching and identifying biomarkers that can forecast effective patient groups. Using the biomarkers identified, it will be able to make progress in clinical trials effectively and to accelerate the drug development. Subsidiary Toyama Chemical is moving ahead with the development of Solithromycin, a new macrolide-type antibacterial agent, which would be the business pillar for the future. In the business of contract manufacturing of biopharmaceuticals, new customers have been developed for the services of the mammalian-cell culture facility that the Company invested in last year. The Company is also working to bring the business of out-licensing and formation of alliances with others concerning its Drug Delivery System and synthesis technology up to full scale. 28 Forecast for FY2015/3Forecast for FY2015/3 ■Stable growth in Healthcare business <Pharmaceuticals> ・Proceed with drug candidate development to “contribute to profitability with new drugs” in early stage including out-licensing. - Joint development of three new anticancer drug candidates with MD Anderson Cancer Center - Development of Alzheimer’s disease drug T-817MA. (Alzheimer’s Disease Cooperative Study / Center for iPS Cell Research and Application.) - Development of medicines for infectious diseases, which are to become a business pillar of Toyama Chemical in the future. ・Bring the business of out-licensing and formation of alliances concerning Drug Delivery Systems and synthesis technology to full scale. ・Develop new customers of contract manufacturing of biopharmaceuticals for mammalian-cell culture. ・Achieve double-digit sales growth mainly in existing businesses by operating companies such as Toyama Chemical. Consolidated Financial Forecast for FY2015/3 : Main PointsConsolidated Financial Forecast for FY2015/3 : Main Points (as of Apr. 30, 2014)(as of Apr. 30, 2014)
  • 29. 29 In highly functional materials, as for the FPD materials business, there are signs of a bottoming out in monitor demand, and the adoption of WV films for tablet PCs and smartphones for emerging countries has been increasing. Continuing from the last fiscal year, the Company will further reinforce sales of products for small and medium-sized displays, such as super-thin 25μm FUJITAC, Z-TAC, and newly developed 40μm WV films. In addition, the Company will concentrate on sales of products for TVs which are expected to experience continued moderate growth along with growth in the size of TV screens. Depreciation costs will decline by several billion yen compared with the previous fiscal year due to the completion of a set of large-scale capital investments. For new materials, the Company will continue to expand sales of EXCLEAR, a sensor film for touch panels, and also proceed with R&D of other new materials for touch panels. To keep growing for medium to long-term utilizing the Fujifilm Group’s strengths, it is indispensable to provide attractive products and services speedily to the society, where the market needs are changing and becoming more and more diversified. With the aims of “co-creation” of the new values, the Company started open discussions with business partners showing them the Group’s technologies through the “Open Innovation Hub”, which was opened in January 2014. The Company is promoting the creation of new businesses that utilizes its strength. 29 Forecast for FY2015/3Forecast for FY2015/3 ・Reinforce sales of products for small and medium-sized displays, such as the super-thin 25μm FUJITAC, Z-TAC, and newly developed 40μm WV films, which was started shipment. ・Expand sales of products used for TVs which are expected to show moderate growth on the basis of area by increasing size of screen ・Expand sales of EXCLEAR, a sensor film for touch panels, and proceed with R&D of new materials for touch panels. ・Decline in depreciation cost due to the completion of a set of large-scale capital investments. ・Promote development of new highly functional materials, in preparation for medium to long-term growth. ・ “Co-create” new values with business partners through “Open Innovation Hub.” ■Reinforce Sales of Highly Functional Materials (FPD materials, industrial products) Consolidated Financial Forecast for FY2015/3 : Main PointsConsolidated Financial Forecast for FY2015/3 : Main Points (as of Apr. 30, 2014)(as of Apr. 30, 2014)
  • 30. 30 As for the Document Solution segment, the business will be expanded by reinforcing global services, production services, and solution services for offices. Also, the PMI has been carried out with the Australia-based service provider which was acquired in 2012 to speed up the expansion of business in the Asia- Oceania region. By reinforcing product lineups that suit market needs, the expansion of equipment sales will be possible. More over, Fuji Xerox is making even greater efforts to reduce costs and other expenses to raise its profitability and to achieve an operating margin of 10% as early as possible. 30 Forecast for FY2015/3Forecast for FY2015/3 ■Improvement of Operating Margin in Document Business ・Reinforce and expand global services, production services, and solution services business. ・Expand service business in Asia-Oceania region utilizing synergies of Fujifilm and acquired Australia-based service provider. ・Proceed with further expansion of equipment sales by reinforcing the product lineups that suit market needs. ・Improve profitability by further reducing costs and other expenses. Consolidated Financial Forecast for FY2015/3 : Main PointsConsolidated Financial Forecast for FY2015/3 : Main Points (as of Apr. 30, 2014)(as of Apr. 30, 2014)
  • 31. 31 Finally, as for the Optical device & Electronic imaging products business, the new structure has been formed after the integration of two business divisions to reorganize the new business previous year. The Company will proceed with the business utilizing the synergies between the Optical devices and Electronic imaging business from R&D, manufacturing and sales divisions. Such thorough measures for profit improvement as reducing fixed-costs were conducted in the previous fiscal year, and the business structure for achieving profitability in this fiscal year was established. As for the digital camera business, the Company will develop its business with a sales and production structure that has been largely shifted to such high-end models, such as the X-Series. Concerning the optical lens business, the Company will further expand sales of TV camera lenses, and also strengthen the sales of security lenses and automotive camera lenses, where the future market growth is expected. The Company is aiming to expand its business where it is possible to fully utilize its sophisticated lens and imaging technologies with its newly reorganized business structure. 31 Forecast for FY2015/3Forecast for FY2015/3 ■Great Improvement in Profitability of the Reorganized Optical Device & Electronic Imaging Products Business ・ Develop business with the structure reorganized as a new business by integrating the Optical devices and Electronic imaging business, which was conducted previous fiscal year. ・Achieve profitability by conducting thorough efforts for profit improvement, such as reducing fixed costs. ・Develop business with sales/production structure that is greatly shifted to high-end models, such as the X-Series. ・ Further expand sales of TV camera lenses as well as strengthen the sales of security lenses and automotive camera lenses, where the future market growth is expected. Consolidated Financial Forecast for FY2015/3 : Main PointsConsolidated Financial Forecast for FY2015/3 : Main Points (as of Apr. 30, 2014)(as of Apr. 30, 2014)
  • 32. 32 Corporate Communication Office, Corporate Planning Div. http://www.fujifilmholdings.com/en/index.html At Fujifilm, we are continuously innovating — creating new technologies, products and services that inspire and excite people everywhere. Our goal is to empower the potential and expand the horizons of tomorrow’s businesses and lifestyles.