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Fujifilm 2012 forecast_midterm_plan

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  • 1. Forecast For FY2012/3 and Medium-Term Management Plan VISION 80 (FY2013/3-FY2014/3) Shigetaka Komori President and Chief Executive Officer October 31, 2011 FORWARD-LOOKING STATEMENTS FORWARD-LOOKING STATEMENTS Forward-looking statements such as those relating to earnings forecasts and other projections contained in this 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- 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 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. differ materially from those projected due to various factors.Structural Reform CompletionFY2010/3 ~ FY2011/3 Built a Robust Corporate Constitution Trends in Profit Structure Change From FY2009/3 (Billions of yen) (increase or decrease) 3,000 30000 2,846.8 2,434.3 Revenue -8.9% 2,181.7 2,217.1 Operating income before restructuring +137.4% 2,000 20000 and other charges Research and development -13.5% expenses 1,000 10000 Selling, general and administrative -15.4% expenses 0 2007年度 2008年度 2009年度 2010年度 Cost of sales -12.4% FY2008/3 FY2009/3 FY2010/3 FY2011/3 Historic high level, excluding the Operating income ¥207.3 Billion ¥208.9 Billion impact of exchange rate and raw material prices    1
  • 2. Forecast for FY2012/3 (Billions of yen) FY2012/3 FY2012/3 Change from the previous FY2011/3 announcement Forecast Forecast Actual (announced on July 29) (latest) Amount % 100.0% 2,217.1Revenue 100.0% 2,340.0 100.0% 2,290.0 (50.0) (2.1) 6.2% 136.4Operating Income 6.8% 160.0 6.0% 136.5 (23.5) (14.7)Income before Income 6.6% 155.0 4.7% 107.5 (47.5) (30.6) 5.3% 117.1TaxesNet Income Attributable 3.4% 80.0 2.4% 54.0 (26.0) (32.5) 2.9% 63.9to FUJIFILM HoldingsNet Income Attributableto FUJIFILM Holdings per ¥166.08 ¥112.10 ¥(53.98) ¥131.30ShareCash Dividends perShare ¥35 ¥35 - ¥30Exchange Rates : US$ ¥80 ¥78 ¥(2) ¥86     € ¥116 ¥109 ¥(7) ¥113Using the same exchange rates and raw material prices as with FY2008/3, operating income will be ¥ 240.7 billion, a historic highImpact of exchange rate movements on operating income (full year, ¥1 change) US$: ¥1.1 billion €: ¥0.7 billion 2 Medium-Term Management Plan VISION 80 FY2013/3-FY2014/3 3
  • 3. Priority Policy in VISION 80 1. Proceeding Growth Strategies in Priority Business Fields Three pillars supporting growth strategies   Realizing great growth in healthcare business  Further expansion in highly functional materials business Further growth and improvement of profitability in document solutions business 2. Speeding Up Globalization 4Great Growth in Healthcare Business To be a comprehensive healthcare company that covers “prevention,” “diagnosis,” and “treatment” prevention,” diagnosis,” “prevention,” “diagnosis,” treatment” “treatment” Target revenue for FY2014/3: ¥370.0 billion Revenue Medical Systems Field 売上高(億円) (Billions of yen) From materials to networks and devices – change in profitability 370.0 370 portfolio • Increase sales by launching new products with originality • Pursue profitability by improving efficiency in developing costs 267.7 267. and strengthening manufacturing Medical Life Sciences Field Enlarge the business by expanding product variation and sales market • Enlarge the business by launching distinctive products using proprietary technologies Pharmaceutical • Expand overseas sales of “ASTALIFT” series Life Science Pharmaceuticals Field 2010年度 FY2011/3 2013年度 FY2014/3 Aim to be the only one company by developing business basis that the company achieved during these years 5
  • 4. Pharmaceutical BusinessAim to Be a Unique Company in the Pharmaceutical Business byDeveloping Low-Molecular Drugs, Biopharmaceuticals, RegenerativeMedical Products, and Antibody-Based Medicines Acquired by Fujifilm Low-molecular drugs (new drugs) Regenerative medicines Fujifilm Japan Tissue (Drug Discovery Research Laboratory) Engineering Toyama Chemical Discovery of low-molecular drugs Development and Development and Development of regenerative medical products sales of regenerative manufacturing of low- Development of FTD technology medical products molecular drugs FUJIFILM 富士フイルムの技術リソース Technological Resources Finechemicals FUJIFILM Manufacturing of raw Synthesis Diosynth materials Research Imaging and Nano- and Analysis and Biotechnologies of collagen diagnostics technology compound assessment library Manufacture of Joint Venture with biopharmaceuticals Dr. Reddy’s Laboratories Development and manufacturing of generic FUJIFILM RI Perseus drugs FUJIFILM Pharma Proteomics PHARMA Development ofLow-molecular  Development and antibody-based drugs Development and sales of medicines sales of radiopharmaceuticals (generic) pharmaceuticals Biopharmaceuticals 6Business Expansion in Highly Functional Materials FY2014/3 Target revenue: ¥330.0 billion Industrial materials/electronic materials Revenue of new products: ¥50.0 billion 50. ¥50.0 1. Launch a series of new products for remarkably growing markets, making full use of the Group’s developing capability for functional materials         2. For LCD TVs and monitors, maintain growth as a core business while securing profitability         Revenue 高成長市場 (Billions of yen) Growth Fields Industrial Materials and Others FPD Materials Revenue センサーフィルム billion of new products: ¥50.0 •Materials for 330.0 Tablet PC タブレットPC 産業機材 他 -medium 292.2              •Sensor film small- small タッチパネル・              sized LCD panels 中小型液晶  Smartphone •Color Mosaic for image スマートフォン    「エクスクリア」 イメージセンサー用 and touch panels 向け材料 Flat panel display sensors               materials Solar cell 太陽電池               •Pet film for back sheets バックシート用PETフィルム    カラーモザイク Existing Business Fields Indusrial materials VA/IPS Film LCD TV WV Film Electronic materials Semiconductor ArF immersion photoresists 2010年度 FY2011/3 2013年度 FY2014/3 Related items, such as CMP slurries 7
  • 5. Further Growth and Improvement of Profitabilityin Document Solutions Business Compatibility of Growth and Profitability Target revenue for 2014/3: ¥1,100.0 billion Business Strategies Revenue Reinforcing and shifting to new growth fields and markets, (Billions of yen) while maintaining and enhancing earning bases In Japan, focus on reinforcing sales power for growth, expanding global service, and accelerating expansion 1,100.0 of solution business Shift resources to China and other emerging countries 973.9 to speed up growth Further enhance product competitiveness in global base in production business and accelerate expanding low-end/quantity business Reinforce Corporate Constitution Accelerating reform for a new corporate constitution for recovery of growth and compatibility 2010年度 FY2011/3 FY2014/3 2013年度 Build a robust cost constitution by continuing efforts to improve cost of sales Reinforce and improve R&D productivity Reach operating income ratio of over 10% in FY2014/3 8 Digital ImagingElectronic Imaging Business Achieve Revenue Growth at CAGR of over 10% by Expanding the Lineups of High-End Models and Reinforcing Sales Promotion Expand the lineup of high-end models, “X” series    Following X100 and X10, launch X-S1, a long-zoom model, before the end of the year    Planning to launch a first-class, mirror-less digital SLR camera next spring Reinforce sales promotion worldwide    Promote direct sales in Asia    Pursue brand power using aggressive advertisements    Enforce sales and support system 9
  • 6. Strategies for Growth Fields Business Fields Topics Increase sales in digital printing market by utilizing the Group’s core technologies for ink jet print head and inks                Graphic Arts Measures to increase share are taken by launching environmentally friendly products, including processless plates and a system that realizes decreases in wastewater     Jet Press 720        Shift main business to Optical Devices higher value-added camera modules Increase sales by prompting data tapes using Recording Media barium ferrite magnetic materials, which realize the largest recording volume in the world 10Speeding Up GlobalizationIncreasing Sales and Profits in Emerging Countries Allocate Management Resources to Measures for Expanding New Markets Markets Reinforcing sales promotion by setting up new overseas Group companies companies Russia Ukraine Turkey China South Korea Middle East India Vietnam Indonesia Brazil Sep.-Nov. 2011 Setting up new overseas Group companies 11
  • 7. Investment Plans FY2012/3-FY2014/3 Aggressively Investing ¥1,000 Billion in Total Item FY2012/3-FY2014/3 Annual base FY2012/3- Capital     ¥ 100.0 ~ 150.0 billion 100. 150. Expenditure M&A    ¥ 50.0 ~ 100.0 billion 50. 100. R&D    ¥ 150.0 ~ 200.0 billion 150. 200. Total ¥ 1,000 billion scale in three years 12Performance and Management Objectives for FY2014/3 Revenue FY2011/3 FY2012/3 FY2014/3 成長率 CAGR ¥2,217.1 ¥2,290.0 ¥2,500.0 年率10% 4%  ※Revenue using the same exchange rates and raw material prices as with FY2008/3 ¥2,531.9 ¥2,655.8 ¥2,896.0 (Billions of yen) Operating Income ¥136.4 ¥136.5 ¥180.0 Ratio of operating income  ※operating income using the same exchange rates and raw material prices as with FY2008/3 7% ¥208.9 ¥240.7 ¥290.5 (Billions of yen) ROE (Return on Equity) 3.7% 3.1% Over 5% Over 5% Profits to Return to shareholders will be undertaken mainly by dividends Shareholders Return to   Buyback will be conducted considering stock prices and the shareholder’s ratio Group’s cash flows Over 25% Exchange rate forecast for FY2014/3 USD ¥78 EUR ¥103 13