Financial Results (Consolidated) for the Fiscal Year ended March 31, 2012FUJIFILM Holdings Corporation                    ...
3. Forecast for the Fiscal Year ending March 31, 2013 (From April 1, 2012 to March 31, 2013)                              ...
FUJIFILM Holdings Corporation (4901)[INDEX]1.   OPERATING RESULTS     (1)   Analysis of Results of Operations             ...
FUJIFILM Holdings Corporation (4901)1. OPERATING RESULTS(1) Analysis of Results of Operations                             ...
FUJIFILM Holdings Corporation (4901)Income before income taxes amounted to ¥89.2 billion, down 23.8% from the previous fis...
FUJIFILM Holdings Corporation (4901)X10 model and the December 2011 launch of the FUJIFILM X-S1 model, and sales of these ...
FUJIFILM Holdings Corporation (4901)the Jet Press 720 next-generation inkjet digital color printing system, which realizes...
FUJIFILM Holdings Corporation (4901)Press/Color 800 Press entry light production color system. In the Asia-Oceania region,...
FUJIFILM Holdings Corporation (4901)current ratio decreased by 32.6 percentage points, to 190.9%, the debt-equity ratio in...
FUJIFILM Holdings Corporation (4901)3. MANAGEMENT POLICIESFujifilm Group’s business environment is continuing to be severe...
FUJIFILM Holdings Corporation (4901)4. CONSOLIDATED FINANCIAL STATEMENTS(1) Consolidated Balance Sheets                   ...
FUJIFILM Holdings Corporation (4901)                                                                                      ...
FUJIFILM Holdings Corporation (4901)(2) Consolidated Statements of Income  Year ended March 31st                          ...
FUJIFILM Holdings Corporation (4901)Three months ended March 31st                                                         ...
FUJIFILM Holdings Corporation (4901)(3) Consolidated Statements of Changes in Shareholders Equity                         ...
FUJIFILM Holdings Corporation (4901)(4) Consolidated Statements of Cash Flows                                             ...
FUJIFILM Holdings Corporation (4901)(5) Note Relating to the Going Concern Assumption   N/A(6) Summary of Significant Acco...
FUJIFILM Holdings Corporation (4901)(7) Notes to Consolidated Financial Statements   Segment Information   1. Year ended M...
FUJIFILM Holdings Corporation (4901)       Assets                                                                         ...
FUJIFILM Holdings Corporation (4901)      (B) Geographic Information      Revenue                                         ...
FUJIFILM Holdings Corporation (4901)       Overseas revenue (Destination Base)                                            ...
Fujifilm fr 2011q4_001
Fujifilm fr 2011q4_001
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Fujifilm fr 2011q4_001

  1. 1. Financial Results (Consolidated) for the Fiscal Year ended March 31, 2012FUJIFILM Holdings Corporation April 27, 2012Shigetaka Komori URL: http://www.fujifilmholdings.com/President and Chief Executive OfficerDate of regular shareholders’ meeting: June 28, 2012 Projected date of the beginning of cash dividends: June 29, 2012Projected date of annual securities report: June 29, 2012Reference materials regarding operating results of the current fiscal year to be prepared: YesMeeting to explain operating results of the current fiscal year to be held: Yes(Consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America.)1. Results of the Fiscal Year ended March 31, 2012 (From April 1, 2011 to March 31, 2012)(1) OPERATING RESULTS Amount Unit: Millions of yen unless otherwise specified / Figures are rounded off to the nearest million yen %: Changes from the corresponding period of the previous fiscal year Income before Net income attributable Revenue Operating income income taxes to FUJIFILM Holdings % % % % Year ended March 31, 2012 2,195,293 (1.0) 112,948 (17.2) 89,187 (23.8) 43,758 (31.5) Year ended March 31, 2011 2,217,084 1.6 136,356 - 117,105 - 63,852 -Note : Comprehensive income (loss)Year ended March 31, 2012 ¥ 25,152 million ( 104.0 %) Year ended March 31, 2011 ¥ 12,331 million ( 17.7 %) Net income attributable to Net income attributable Return on FUJIFILM Ratio of income before FUJIFILM Holdings Ratio of operating to FUJIFILM Holdings Holdings shareholders income taxes to per share income to revenue per share equity total assets (Assuming full dilution) Yen Yen % % % Year ended March 31, 2012 90.84 87.23 2.5 3.3 5.1 Year ended March 31, 2011 131.30 120.73 3.7 4.2 6.2(Ref) Equity in net earnings of affiliated companiesYear ended March 31, 2012: ¥ (2,171) million Year ended March 31, 2011: ¥ 3,741 million(2) FINANCIAL POSITION FUJIFILM Holdings FUJIFILM Holdings Total equity FUJIFILM Holdings Total assets (Net asset) shareholders’ equity shareholders’ equity shareholders’ equity ratio to total assets per share % Yen Year ended March 31, 2012 2,739,665 1,856,484 1,721,769 62.8 3,574.32 Year ended March 31, 2011 2,708,841 1,850,871 1,722,526 63.6 3,576.03(3) CASH FLOWS Net Cash provided by Net Cash used in Net Cash used in Cash and Cash Equivalents Operating Activities Investing Activities Financing Activities at the end of year Year ended March 31, 2012 135,133 (185,875) (24,404) 235,104 Year ended March 31, 2011 199,354 (130,760) (146,382) 313,0702. Cash Dividends Ratio of cash Cash dividends per share Total cash Consolidated dividends to 1st Quarter 2nd Quarter 3rd Quarter Year End Year Total dividends pay out ratio shareholders equity Yen Yen Yen Yen Yen % %Year endedMarch 31, 2011 - 15.00 - 15.00 30.00 14,555 22.8 0.8Year endedMarch 31, 2012 - 17.50 - 17.50 35.00 16,860 38.5 1.0Year ending March31, 2013 (Forecast) - 20.00 - 20.00 40.00 29.6
  2. 2. 3. Forecast for the Fiscal Year ending March 31, 2013 (From April 1, 2012 to March 31, 2013) Amount Unit: Millions of yen unless otherwise specified / Figures are rounded off to the nearest million yen %: Changes from the corresponding period of the previous fiscal year FUJIFILM Holdings Income before Net income attributable Revenue Operating income shareholders’ equity income taxes to FUJIFILM Holdings per share % % % % Yen For Year ending March 31, 2013 2,370,000 8.0 140,000 24.0 135,000 51.4 65,000 48.5 134.94Note: Forecasts of consolidated operating results for the six months period ending September 30, 2012 have not been provided.NOTES * Please see “(6) Summary of Significant Accounting Policies in the section 4. CONSOLIDATED FINANCIAL STATEMENTS ” on page 15 for further details.(1) Changes in status of material subsidiaries during the period under review (Companies newly consolidated or removed from consolidation): None(2) Changes in accounting policies 1. Changes in accounting policies accompanying amendment of accounting principles: None 2. Other changes in accounting policies: None(3) Number of Shares Outstanding 1. Issued (including treasury stock): As of March 31, 2012 514,625,728 As of March 31, 2011 514,625,728 2. Treasury stock, at cost: As of March 31, 2012 32,920,287 As of March 31, 2011 32,939,343 3. Average number of shares: Year ended 481,698,604 Year ended 486,296,917 March 31, 2012 March 31, 2011(Reference) Summary of Financial Results (Non-Consolidated)Results of the Fiscal Year ended March 31, 2012 (From April 1, 2011 to March 31, 2012)(1) OPERATING RESULTS Amount Unit: Millions of yen unless otherwise specified / Figures are rounded down to the nearest million yen %: Changes from the corresponding period of the previous fiscal year Revenue Operating income Ordinary income Net income % % % %Year ended March 31, 2012 27,584 44.2 23,076 52.4 21,993 44.3 22,338 48.7Year ended March 31, 2011 19,125 12.4 15,139 22.1 15,240 22.4 15,025 97.4 Net income per share of Net income per share of common common stock stock (Assuming full dilution) Yen YenYear ended March 31, 2012 46.37 45.23Year ended March 31, 2011 30.89 30.07(2) FINANCIAL POSITION Net assets per share of Total assets Net assets Net asset ratio to total assets common stock % YenYear ended March 31, 2012 1,698,195 1,531,434 90.0 3,172.77Year ended March 31, 2011 1,732,810 1,523,069 87.9 3,156.88(Ref) Shareholders’ equityYear ended March 31, 2012: ¥ 1,530,164 million Year ended March 31, 2011: ¥ 1,523,394 millionDisclosure regarding the status of the year-end audit process This year-end press release is out of scope of the year-end audit process based on the Financial Instruments and Exchange Law. As of the press release date, the year-end audit process is ongoing.Explanation of Appropriate Use of Forecast and Other Special Items Statements regarding future events including forecasts of operating results are based on limited available information and reasonable assumptions as of today. The Company does not have the intention of guaranteeing the realization of future performance. Actual operating results are always subject to change significantly due to various matters. Assumptions for the forecast and warnings for users of the forecast are mentioned in the page 6, Outlook for the Fiscal Year Ending March 31, 2013 of the section (1) Analysis of Results of Operations in 1. OPERATING RESULTS.
  3. 3. FUJIFILM Holdings Corporation (4901)[INDEX]1. OPERATING RESULTS (1) Analysis of Results of Operations ・・・・ ・ ・・・・ P. 2 (2) Analysis of the Consolidated Financial Position ・・・・ ・ ・・・・ P. 6 (3) Basic Policy Regarding Distribution of Profits and Dividends Applicable to the Fiscal Year under Review and Subsequent Fiscal Year ・・・・ ・ ・・・・ P. 72. CORPORATE STRUCTURE OF FUJIFILM GROUP ・・・・ ・ ・・・・ P. 73. MANAGEMENT POLICIES ・・・・ ・ ・・・・ P. 84. CONSOLIDATED FINANCIAL STATEMENTS (1) Consolidated Balance Sheets ・・・・ ・ ・・・・ P. 9 (2) Consolidated Statements of Income Year ended March 31st ・・・・ ・ ・・・・ P.11 st Three months ended March 31 ・・・・ ・ ・・・・ P.12 (3) Consolidated Statements of Changes in Shareholders Equity ・・・・ ・ ・・・・ P.13 (4) Consolidated Statements of Cash Flows ・・・・ ・ ・・・・ P.14 (5) Note Relating to the Going Concern Assumption ・・・・ ・ ・・・・ P.15 (6) Summary of Significant Accounting Policies ・・・・ ・ ・・・・ P.15 (7) Notes to Consolidated Financial Statements Segment Information ・・・・ ・ ・・・・ P.16 st 1. Year ended March 31 ・・・・ ・ ・・・・ P.16 st 2. Three months ended March 31 ・・・・ ・ ・・・・ P.20 Fair Value on Marketable and Investment Securities ・・・・ ・ ・・・・ P.21 Amounts Per Share of Common Stock ・・・・ ・ ・・・・ P.21 Subsequent Event ・・・・ ・ ・・・・ P.21 1
  4. 4. FUJIFILM Holdings Corporation (4901)1. OPERATING RESULTS(1) Analysis of Results of Operations Amount Unit: Billions of yen Year ended Year ended Change March 31, 2012 March 31, 2011 From April 1, 2011 From April 1, 2010 Amount % To March 31, 2012 To March 31, 2011 Domestic revenue 46.2% 1,012.7 46.7% 1,034.8 (22.1) (2.1) Overseas revenue 53.8% 1,182.6 53.3% 1,182.3 0.3 0.0 Revenue 100.0% 2,195.3 100.0% 2,217.1 (21.8) (1.0) Operating income 5.1% 112.9 6.2% 136.4 (23.5) (17.2) Other income (expenses) (1.0)% (23.7) (0.9)% (19.3) (4.4) - Income before income taxes 4.1% 89.2 5.3% 117.1 (27.9) (23.8) Net income attributable to 2.0% 43.8 2.9% 63.9 (20.1) (31.5) FUJIFILM Holdings Exchange rates (Yen / US$) ¥79 ¥86 ¥(7) Exchange rates (Yen / Euro) ¥109 ¥113 ¥(4)Overviewing the global economy during the fiscal year ended March 31, 2012, the protraction of the debtcrisis in European countries has caused economic conditions in the European region to continue deteriorating.In the United States, the economy began showing underlying strength, but the fundamental trend of recoveryremained weak. In addition, there was a trend of decrease in the pace of economic growth in emergingcountries and regions in Asia and elsewhere. Regarding Japan, the Japanese economy has continued to recoveragainst the backdrop of demand related to recovery from the Great East Japan Earthquake and other situations,but the recovery has been restrained to a slow pace by such factors as the impact of the economic slowdown inEurope.With respect to Fujifilm’s business environment, the direct impact of situations associated with the Great EastJapan Earthquake remained slight overall, although Fujifilm’s businesses were affected by otherfactors—including yen appreciation; the surging cost of silver, aluminum, and other raw materials; the floodin Thailand; and demand decreases due to the deterioration of business confidence in Europe—that causedconditions in the operating environment to become harsh.To create a corporate constitution that is able to reliably generate profit even amid a severe economicenvironment, the Fujifilm Group completed structural reforms during the two-year period through March 31,2011. During the fiscal year under review, the Group formulated a new medium-term managementplan—VISION80 (April 1, 2012, through March 31, 2014) —and moving ahead with growth strategiesthroughout global markets. Through concentrated investments of management resources in priority businessfields of significant growth potential, where the Group has technological advantages, as well as inglobalization mainly in emerging countries where growth is continuing, the Group is moving ahead toincrease its sales and expand its market shares going forward even amid the severe economic environment.During the period under review (April 1, 2011, through March 31, 2012), the Fujifilm Group recorded¥2,195.3 billion in consolidated revenue (down 1.0%, or up 1.3% excluding the impact of foreign exchangefluctuations from the same period of the previous fiscal year). Despite the launch of new products and theGroup’s moves to step up sales promotion measures in response to growth in emerging countries’ markets,consolidated revenue decreased by ¥21.8 billion, comparing to the same period of the previous fiscal year,reflecting such factors as the negative impact of yen appreciation, which had the effect of reducingconsolidated revenue by ¥51.5 billion, the decrease in domestic demand associated with the Great East JapanEarthquake, the impact of flood in Thailand, and other factors.Operating income totaled ¥112.9 billion, down 17.2% from the previous fiscal year, reflecting the negativeimpact of yen appreciation by ¥9.9 billion and surges in prices of raw materials by ¥20.0 billion. 2
  5. 5. FUJIFILM Holdings Corporation (4901)Income before income taxes amounted to ¥89.2 billion, down 23.8% from the previous fiscal year, and the netincome attributable to FUJIFILM Holdings totaled ¥43.8 billion, down 31.5% from the previous fiscal year, asa result of the decline in sales, the negative impact of yen appreciation, and recognition of impairment loss of¥19.4 billion on investment securities.The effective currency exchange rates for the U.S. dollar and the euro against the yen during the fiscal yearwere ¥79 and ¥109, respectively.The Company plans to disburse year-end cash dividends of ¥17.50 per share. As ¥17.50 per share interim cashdividends have already been disbursed, cash dividends applicable to the fiscal year under review are expectedto total ¥35.00 per share.Revenue by Operating Segment Amount Unit: Billions of yen Year ended Year ended Change Segment March 31, 2012 March 31, 2011 From April 1, 2011 From April 1, 2010 To March 31, 2012 To March 31, 2011 Amount % Imaging Solutions 322.7 325.8 (3.1) (1.0) Information Solutions 887.8 917.4 (29.6) (3.2) Document Solutions 984.8 973.9 10.9 1.1 Consolidated Total 2,195.3 2,217.1 (21.8) (1.0)Operating Income (Loss) by Operating Segment Amount Unit: Billions of yen Year ended Year ended Change Segment March 31, 2012 March 31, 2011 From April 1, 2011 From April 1, 2010 Amount % To March 31, 2012 To March 31, 2011 Imaging Solutions (4.0) (12.7) 8.7 - Information Solutions 67.4 103.5 (36.1) (34.8) Document Solutions 81.8 74.2 7.6 10.2 Corporate Expenses and Eliminations (32.3) (28.6) (3.7) - Consolidated Total 112.9 136.4 (23.5) (17.2)Imaging SolutionsIn the Imaging Solutions segment, consolidated revenue amounted to ¥322.7 billion, down 1.0%, or up 3.3%excluding the impact of foreign exchange fluctuations from the previous fiscal year. Although the sales ofdigital camera products were steady, such factors as the negative impact of yen appreciation, which caused adrop in consolidated revenue of ¥13.9 billion, the decrease in domestic demand associated with the Great EastJapan Earthquake, the flood in Thailand and other factors caused Fujifilm’s sales to decline.The segment’s operating loss amounted to ¥4.0 billion, reflecting the negative impact of yen appreciation,surging raw materials prices, and other factors.In the photo imaging business, while strong results from marketing activities of high-value-added printingservices such as Photobook enabled a rise in net sales and the expansion of market share in the color paperbusiness, the negative impact of yen appreciation, a decrease in domestic demand associated with the GreatEast Japan Earthquake, and other situations caused the segment’s sales to decline.In the electronic imaging business field, robust sales of new products centered on high-end products withspecial features based on exclusive technologies supported rises in Fujifilm’s sales volume and average salesprice, thereby boosting net sales. Following up on the FUJIFILM X100, a high-grade compact digital cameralaunched in March 2011 that offers image quality and expressive power superior to that of digital SLRcameras, Fujifilm expanded the X-series of premium cameras with the October 2011 launch of the FUJIFILM 3
  6. 6. FUJIFILM Holdings Corporation (4901)X10 model and the December 2011 launch of the FUJIFILM X-S1 model, and sales of these three modelswere strong. In February 2012, the Company launched the FUJIFILM X-Pro1, a premium interchangeablelens camera that transforms the concept of mirrorless cameras by setting new standards regarding imagequality and expressiveness, along with three FUJINON XF lenses, and these offerings have been well receivedin the market.Information SolutionsIn the Information Solutions segment, consolidated revenue amounted to ¥887.8 billion, down 3.2%, or down0.7% excluding the impact of foreign exchange fluctuations from the previous fiscal year. Although sales ofthe pharmaceutical product business and the life sciences business rose, the negative impact of yenappreciation, which caused a drop in consolidated revenue of ¥23.1 billion, and the decrease in domesticdemand associated with the Great East Japan Earthquake, decrease in sales of the flat panel display (FPD)materials business and other factors caused the segment’s sales to decline.Operating income amounted to ¥67.4 billion, down 34.8% from the previous fiscal year, reflecting thenegative impact of yen appreciation, surging raw materials prices, decline in sales, and other factors.Sales in the medical systems business increased regarding robust sales of endoscope products, network systemand other products.In the modality field, Fujifilm sustained robust sales of FCR PRIMA T, a compact and relatively low-pricedproduct in the FCR line, which was launched in September 2011 and other products. In November 2011, theCompany launched FUJIFILM DR CALNEO flex, which is the first product of its kind in the world in whichthe DR panel itself automatically detects X-rays and there is no need for a connection with an X-ray generator.In addition, FUJIFILM Holdings acquired U.S.-based SonoSite, Inc., a manufacturer of bedside andpoint-of-care ultrasound diagnostic equipments, through a tender offer. SonoSite became a wholly ownedsubsidiary of Fujifilm in March 2012.With respect to the field of endoscope products, Fujifilm continued to record strong sales of transnasalendoscopes and related information management systems. In October 2011, the Company launched theEG-580NW, a transnasal endoscope that leverages newly developed image sensor and lens technologies torealize high image quality.In the network system field, amid the steadily growing use of IT products by medical institutions, sales ofnetwork system related products increased. The Company’s SYNAPSE medical-use picture archiving andcommunications systems have now been adopted by approximately 1,700 medical facilities in Japan, andFujifilm is maintaining the leading market share in this field.In pharmaceutical product business, robust sales were recorded of various products of Toyama Chemical Co.,Ltd., —including Zosyn, an antibiotic combination product incorporating a β-lactamase inhibitor, as well asthe oral new-type quinolone antibacterial agents OZEX fine granules and the oral quinolone antibacterialagents Geninax—and the sales considerably increased. Toyama Chemical submitted an application for theapproval of T-705—a drug candidate being developed for an application as an anti-influenza viral drug thathas been confirmed to have a different mechanism of action from that of existing therapeutic drugs—in Japan.The two contract manufacturers of biopharmaceuticals, which the Company acquired from U.S.-based Merck& Co., Inc., in March 2011, sustained robust sales. In addition, in March 2012, Fujifilm and Kyowa HakkoKirin Co., Ltd., established a 50-50 joint venture— FUJIFILM KYOWA KIRIN BIOLOGICS Co., Ltd.—toundertake the development, manufacturing, and sales of biosimilars.In the life sciences business, sales increased owing to such initiatives as the launch of a base makeup productseries within the ASTALIFT functional cosmetics product lineup in September 2011 and the proactiveexpansion of sales promotion activities of the supplement product lineup. Regarding the ASTALIFT line offunctional cosmetics products, Fujifilm initiated the marketing of those products in France since March 2012,and plans call for progressively expanding the geographic scope of ASTALIFT marketing in Europe as well asin China and Southeast Asia.In the graphic arts business, such factors as the negative impact of yen appreciation and a decrease indomestic demand for plate processing materials associated with the Great East Japan Earthquake caused adecline in net sales. With respect to the growing field of digital printing, in December 2011, Fujifilm launched 4
  7. 7. FUJIFILM Holdings Corporation (4901)the Jet Press 720 next-generation inkjet digital color printing system, which realizes high image qualitysuperior to that achievable with offset printing equipment. The Company expanded its lineup of wide-formatUV inkjet systems with the inclusion of such products as the Acuity LED 1600, which was announced inSeptember 2011, and continued stepping up its efforts to promote sales of those systems.Regarding the flat panel display materials business, sales of FUJITAC and WV film products were downcompared with the previous fiscal year, when demand for LCD TVs was particularly strong owing to suchfactors as the Eco-Point system in Japan and other factors. To respond to growing demand associated withretardation film for VA mode for large LCD TVs, Fujifilm inaugurated an additional ultra-wide FUJITACmanufacturing line in April 2011. The Company also plans to initiate the operation of two more ultra-wideFUJITAC manufacturing lines by the end of the fiscal year ending March 31, 2013. In conjunction with thecreation of new manufacturing lines, one existing line will be turned into a specialized facility for thedevelopment of products for small and medium-sized displays. Going forward, the Company plans toprogressively strengthen its new product development and manufacturing capabilities for meeting rapidlyexpanding demand for films incorporated in tablet PCs and smartphones.In the industrial products business, although the marketing of industrial-use X-ray films proceeded smoothly,sales declined, reflecting the negative impact of yen appreciation. The Company plans to begin the marketingof EXCLEAR transparent conductive film products and highly weather-resistant PET film products. Throughthe launch of these products, the Company is endeavoring to expand its sales in the touch panels andenvironmental and energy fields, which are projected to grow.Sales in electronic materials business increased, reflecting robust sales of such products as ArF immersionresist products, image sensor-use COLOR MOSAIC products, advanced etchant, and CMP slurries.In the optical device business, Fujifilm sustained robust sales of broadcast-use TV camera lenses and otherproducts, but a decrease in demand for camera phone lens units caused a decline in overall sales. Goingforward, the Company plans to progressively expand its business in new fields centered on thin-model lensmodules for use in smartphones.In the recording media business, Fujifilm successfully engaged in the marketing of various products, such asenterprise data storage tape cartridges that employ unique barium ferrite particle technology to achieve theworld’s highest areal density on linear magnetic tape, and overall sales increased.Document SolutionsIn the Document Solutions segment—although challenges were presented by such factors as yen appreciationof ¥14.5 billion, deteriorating economic conditions in Europe, and the flood in Thailand—the impact of theGreat East Japan Earthquake was offset during the second quarter of the fiscal year, and strong sales in theAsia-Oceania region were sustained during the year. Consequently, consolidated revenue rose to ¥984.8billion, up 1.1%, or up 2.6% excluding the impact of foreign exchange fluctuations from the previous fiscalyear.Despite expenses associated with the Great East Japan Earthquake and the flood in Thailand, operatingincome increased to ¥81.8 billion, up 10.2% from the previous fiscal year, reflecting improvements achievedregarding cost of sales and expenses as well as other factors.Regarding the office products business, in Japan, reflecting strong sales of full-color digital multifunction FujiXerox ApeosPort-IV/DocuCentre-IV series models, unit sales of full-color and monochrome products rose.While the number of copies being made decreased temporarily owing to the earthquake disaster and otherfactors, it turned into an increase and was higher for the fiscal year as a whole than in the previous fiscal year.Increases were recorded in sales volume of full-color and monochrome models in the Asia-Oceania region andin shipment volume of full-color and monochrome models of exports to Xerox Corporation.In the office printer business, domestic sales volume of full-color and monochrome products considerablyincreased. Regarding exports to Xerox Corporation, the shipment volume of full-color and monochromemodels increased. In the Asia-Oceania region, the sales volume of color models increased, but the salesvolume of monochrome models decreased.In production services business, Fuji Xerox’s overall domestic sales volume grew owing to a rise in sales ofsuch light production color models as the Fuji Xerox DocuColor 1450 GA and the Fuji Xerox Color 1000 5
  8. 8. FUJIFILM Holdings Corporation (4901)Press/Color 800 Press entry light production color system. In the Asia-Oceania region, sales of the Fuji XeroxColor 1000 Press/Color 800 Press entry light production color system were robust, and overall sales volumeincreased. Regarding exports to Xerox Corporation, shipment volume decreased due to the deterioration ofbusiness confidence in Europe and other factors. In addition, in August 2011, Fuji Xerox launched its fastestfull-color inkjet printer—the Fuji Xerox 2800 Inkjet Color Continuous Feed Printing System—in Japan andthe Asia-Oceania region.In the global services business, revenue in Japan and the Asia-Oceania region grew. From July 2011, FujiXerox has begun providing Enterprise Print Services in Japan and the Asia-Oceania region as well asstrengthening and expanding its provision of services. This end-to-end enterprise document managementoutsourcing service helps companies better manage documents from the office to the in-house print center toremote/mobile printing.Fuji Xerox was again ranked highest in the industry in the surveys—the 2011 Japan Color Copier CustomerSatisfaction StudySM and the 2011 Japan Color Printer Customer Satisfaction StudySM—conducted by J.D.Power Asia Pacific, Inc., a specialized institution focused on customer satisfaction-related surveys andconsulting services, this year. Going forward, Fuji Xerox intends to sustain and strengthen its efforts aimed atgenerating customer satisfaction by continuing to provide products and support commensurate with itsindustry-leading evaluation as well as by aiming to supply high-quality services that contribute toimprovements in customers’ operational efficiency and to the resolution of management challenges.Outlook for the Fiscal Year Ending March 31, 2013 Amount Unit: Billions of yen Year ending Year ended Change March 31, 2013 March 31, 2012 (%) (Forecast) (Actual) Revenue 2,370.0 2,195.3 8.0 Operating income 140.0 112.9 24.0 Income before income taxes 135.0 89.2 51.4 Net income attributable to FUJIFILM Holdings 65.0 43.8 48.5 US $ ¥ 78 ¥ 79 ¥ (1) Exchange rates Euro ¥ 103 ¥ 109 ¥ (6)Fujifilm expects that its business environment will continue to be harsh in the fiscal year ending March 31,2013. Amid this situation, the Fujifilm Group will move ahead with its growth strategy of concentratingmanagement resources in priority business fields and in globalization focused on emerging countries, and itanticipates that it will achieve an improvement in its profitability.Regarding consolidated performance in the fiscal year ending March 31, 2013, the Company projects ¥2,370.0billion in revenue (up 8.0% from the previous year), operating income of ¥140.0 billion (up 24.0% from theprevious year), income before income taxes of ¥135.0 billion (up 51.4% from the previous year), and netincome attributable to FUJIFILM Holdings of ¥65.0 billion (up 48.5% from the previous year).The projected currency exchange rates for the U.S. dollar and the euro against the yen during the fiscal yearending March 31, 2013 are ¥78 (yen appreciated by ¥1 from the previous year) and ¥103 (yen appreciated by¥6 from the previous year), respectively.(2) Analysis of the Consolidated Financial Position(Assets, Liabilities, Shareholders’ Equity, and Cash Flows)At the end of the fiscal year, total assets increased by ¥30.9 billion, or 1.1% compared with the end of theprevious fiscal year, to ¥2,739.7 billion, owing to a increase in receivable, goodwill, and other factors. Totalliabilities increased by ¥25.3 billion, or 2.9% compared with the end of the previous fiscal year, to ¥883.2billion, owing to an increase in short-term debt and other long-term liabilities and other factors. FUJIFILMHoldings shareholders’ equity decreased by ¥0.7 billion, or 0.0% compared with the end of the previous fiscalyear, to ¥1,721.8 billion, roughly equivalent to the level of the end of the previous fiscal year. As a result, the 6
  9. 9. FUJIFILM Holdings Corporation (4901)current ratio decreased by 32.6 percentage points, to 190.9%, the debt-equity ratio increased by 1.5 percentagepoints, to 51.3%, and the equity ratio decreased by 0.8 percentage points, to 62.8%, compared with the end ofthe previous fiscal year. The Company is confident that it is maintaining a stable level of asset liquidity and asound capital structure.During the fiscal year ended March 31, 2012, net cash provided by operating activities totaled ¥135.1 billion.Net cash used in investing activities amounted to ¥185.9 billion due primarily to purchases of property, plantand equipment, the cash disbursement for business acquisitions and other factors. Thus, free cash flows—orthe sum of cash flows from operating and investing activities— resulted in cash out flows of ¥50.7 billion,down ¥119.3 billion from the previous fiscal year.Net cash used in financing activities amounted to ¥24.4 billion, due to repayments of long-term debt and otherfactors. As a result, cash and cash equivalents at the end of the fiscal year under review amounted to ¥235.1billion, down ¥78.0 billion comparing to the end of the previous fiscal year ended March 31, 2011.Cash Flow related Indices (consolidated) Year ended March 31, 2012 Year ended March 31, 2011 From April 1, 2011 From April 1, 2010 To March 31, 2012 To March 31, 2011Ratio of shareholders’ equity to total assets (%) 62.8 63.6Ratio of market capitalization to total assets (%) 34.1 45.8Ratio of interest-bearing debt to operating cash flow 1.5 1.0(years)Interest coverage ratio (times) 39.5 49.0Notes:1. Market capitalization equals the stock price at the end of the year multiplied by the number of shares outstanding at the end of the fiscal year, excluding treasury stock.2. Interest-bearing debt includes corporate debt securities and short- and long-term debt.3. Interest coverage ratio: Operating cash flow divided by interest paid(3) Basic Policy Regarding Distribution of Profits and Dividends Applicable to the Fiscal Year under Review and Subsequent Fiscal YearIn addition to reflecting consolidated performance trends, dividend levels are to be determined based on theconsideration of such factors as the level of funds required for M&A transactions, capital investment and newproduct development investments needed to support priority business expansion, as well as other measuresaimed at increasing the Company’s corporate value in the future. Adequate buybacks will be undertakenconsidering the situation of cash flows and stock prices. Having changed the Company’s policy of targeting areturn to shareholders ratio of over 25%, which represents the ratio of total cash dividends and acquisition oftreasury stock to net income attributable to FUJIFILM Holdings, the Company set the dividend payout ratio atover 25%, putting more emphasis on cash dividends.The Company plans to disburse year-end cash dividends of ¥17.50 per share. As ¥17.50 per share interim cashdividends have already been disbursed, cash dividends applicable to the fiscal year under review are expectedto total ¥35.00 per share.Regarding the fiscal year ending March 31, 2013, the Company anticipates that interim dividends will be¥20.00 per share, year-end dividends will be ¥20.00 per share, and total dividends applicable to the year willamount to ¥40.00 per share.2. CORPORATE STRUCTURE OF FUJIFILM GROUPSince there have not been any significant changes in business and group structures disclosed in the latestAnnual Security Report filed on June 30, 2011, we omit the relevant disclosure. 7
  10. 10. FUJIFILM Holdings Corporation (4901)3. MANAGEMENT POLICIESFujifilm Group’s business environment is continuing to be severe and uncertain reflected by such negativefactors as surging raw materials prices, yen appreciation, and deterioration of business confidence in Europewhich exerts a considerable impact. Amid these circumstances, the Fujifilm Group formulated and announcedits new medium-term management plan VISION80 during the fiscal year under review to shift to an emphasison restoring our growth momentum, and the Group is now strongly promoting the implementation of thisplan.VISION80 positions three businesses—healthcare, highly functional materials, and documents business—aspriority growth businesses and calls for strategically concentrating management resources in those businessfields as a means of increasing sales growth by a large margin. Business in the healthcare field is expected tobe a key pillar of our long-term growth, and the Group is seeking to become a comprehensive healthcarecompany that covers “prevention, diagnosis, and treatment.” In the highly functional materials field, besidesensuring the continued profitability of its flat panel display business, the Group is striving to fully leverage itshighly functional materials development capabilities to launch new products in rapidly growing markets andthereby realize sustained business growth. In the documents business field, the Group is endeavoring toaccelerate its expansion of two growth businesses—global services business and solutions business—whilealso shifting resources to China and other emerging economies as a means of realizing additional growth.Furthermore, in all businesses, the Group will promote the leveraging of its exclusive technologies to launchnew products and the accelerated implementation of such global marketing strategies as those designed toexpand sales through marketing activities deeply rooted in local markets centered on emerging countrymarkets. By implementing these and other management strategies stipulated by VISION80 promptly anddecisively, the Group will aim to ensure its growth over the medium-to-long term along with an increase in itscorporate value.Note: This document is a faithful translation into English of a financial condition-related report prepared in Japanese by FUJIFILM HoldingsCorporation in accordance with Tokyo Stock Exchange guidelines.Accordingly, the explanations for each business segment may include references to products that are marketed under different product namesoverseas or are not marketed overseas and may also include references to product marketing periods that differ by region.“Xerox” is a registered trademark of Xerox Corporation in the United States and other countries. All other product names contained in thismaterial are trademarks of their respective companies. 8
  11. 11. FUJIFILM Holdings Corporation (4901)4. CONSOLIDATED FINANCIAL STATEMENTS(1) Consolidated Balance Sheets Amount Unit: Millions of yen As of As of Change March 31, 2012 March 31, 2011ASSETS Current assets: Cash and cash equivalents 235,104 313,070 (77,966) Marketable securities 12,364 23,188 (10,824) Notes and accounts receivable: Trade and finance 541,988 490,554 51,434 Affiliated companies 32,102 29,268 2,834 Allowance for doubtful receivables (17,607) (17,645) 38 556,483 502,177 54,306 Inventories 377,952 342,165 35,787 Deferred income taxes 92,493 89,496 2,997 Prepaid expenses and other 47,595 40,747 6,848 Total current assets 1,321,991 1,310,843 11,148 Investments and long-term receivables: Investments in and advances to affiliated companies 35,614 42,684 (7,070) Investment securities 118,954 139,352 (20,398) Long-term finance and other receivables 128,493 117,305 11,188 Allowance for doubtful receivables (3,221) (3,259) 38 Total investments and long-term receivables 279,840 296,082 (16,242) Property, plant and equipment: Land 94,730 97,237 (2,507) Buildings 666,724 668,897 (2,173) Machinery and equipment 1,557,424 1,548,837 8,587 Construction in progress 41,030 34,742 6,288 2,359,908 2,349,713 10,195 Less accumulated depreciation (1,805,992) (1,785,648) (20,344) Total property, plant and equipment 553,916 564,065 (10,149) Other assets: Goodwill, net 393,541 344,444 49,097 Other intangible assets, net 43,900 44,223 (323) Deferred income taxes 74,425 81,505 (7,080) Other 72,052 67,679 4,373 Total other assets 583,918 537,851 46,067 Total assets 2,739,665 2,708,841 30,824 9
  12. 12. FUJIFILM Holdings Corporation (4901) Amount Unit: Millions of yen As of As of Change March 31, 2012 March 31, 2011LIABILITIES Current liabilities: Short-term debt 178,536 70,343 108,193 Notes and accounts payable: Trade 228,383 228,224 159 Construction 26,729 29,435 (2,706) Affiliated companies 3,292 3,714 (422) 258,404 261,373 (2,969) Accrued income taxes 12,864 13,805 (941) Accrued liabilities 178,618 179,315 (697) Other current liabilities 63,945 61,622 2,323 Total current liabilities 692,367 586,458 105,909 Long-term liabilities: Long-term debt 20,334 119,314 (98,980) Accrued pension and severance costs 85,116 78,806 6,310 Deferred income taxes 35,874 31,442 4,432 Customers guarantee deposits and other 49,490 41,950 7,540 Total long-term liabilities 190,814 271,512 (80,698) Total liabilities 883,181 857,970 25,211EQUITY FUJIFILM Holdings shareholders equity 40,363 40,363 - Common stock, without par value: Authorized: 800,000,000 shares Issued: 514,625,728 shares Additional paid-in capital 74,780 73,956 824 Retained earnings 1,944,557 1,917,659 26,898 Accumulated other comprehensive income (loss) (235,400) (206,858) (28,542) Treasury stock, at cost As of March 31, 2011: 32,939,343 shares As of March 31, 2012: 32,920,287 shares (102,531) (102,594) 63 Total FUJIFILM Holdings shareholders equity 1,721,769 1,722,526 (757) Noncontrolling interests 134,715 128,345 6,370 Total equity 1,856,484 1,850,871 5,613Total liabilities and equity 2,739,665 2,708,841 30,824Note: Details of accumulated other comprehensive income (loss) As of March 31, 2012 As of March 31, 2011 Change Unrealized gains (losses) on securities 9,869 2,263 7,606 Foreign currency translation adjustments (145,845) (128,943) (16,902) Pension liability adjustments (99,470) (80,269) (19,201) Unrealized gains (losses) on derivatives 46 91 (45) 10
  13. 13. FUJIFILM Holdings Corporation (4901)(2) Consolidated Statements of Income Year ended March 31st Amount Unit: Millions of yen Year ended Year ended March 31, 2012 March 31, 2011 Change From April 1, 2011 From April 1, 2010 Amount % To March 31, 2012 To March 31, 2011 Revenue: % % Sales 1,860,907 1,879,759 (18,852) (1.0) Rentals 334,386 337,325 (2,939) (0.9) 100.0 2,195,293 100.0 2,217,084 (21,791) (1.0) Cost of sales: Sales 1,176,697 1,162,923 13,774 1.2 Rentals 150,870 150,180 690 0.5 60.5 1,327,567 59.2 1,313,103 14,464 1.1 Gross profit 39.5 867,726 40.8 903,981 (36,255) (4.0) Operating expenses: Selling, general and administrative 26.5 581,405 25.7 570,608 10,797 1.9 Research and development 7.9 173,373 7.5 165,302 8,071 4.9 34.4 754,778 33.2 735,910 18,868 2.6 Operating income before restructuring and other charges - - 7.6 168,071 Restructuring and other charges - - 1.4 31,715 Operating income 5.1 112,948 6.2 136,356 (23,408) (17.2) Other income (expenses): Interest and dividend income 5,042 5,148 (106) Interest expense (3,420) (4,071) 651 Foreign exchange gains (losses), net (5,616) (10,654) 5,038 Impairment of investment securities (19,398) (5,619) (13,779) Other, net (369) (4,055) 3,686 (1.0) (23,761) (0.9) (19,251) (4,510) - Income before income taxes 4.1 89,187 5.3 117,105 (27,918) (23.8) Income taxes Current 22,854 23,760 (906) (3.8) Deferred 7,177 24,263 (17,086) (70.4) 1.4 30,031 2.2 48,023 (17,992) (37.5) Equity in net earnings (losses) of affiliated companies (0.1) (2,171) 0.2 3,741 (5,912) - Net income 2.6 56,985 3.3 72,823 (15,838) (21.7) Less: Net income attributable to the (0.6) (13,227) (0.4) (8,971) (4,256) - noncontrolling interests Net income attributable to 2.0 43,758 2.9 63,852 (20,094) (31.5) FUJIFILM Holdings 11
  14. 14. FUJIFILM Holdings Corporation (4901)Three months ended March 31st Amount Unit: Millions of yen Three months period ended Three months period ended Change March 31, 2012 March 31, 2011 From January 1, 2012 From January 1, 2011 Amount % To March 31, 2012 To March 31, 2011 Revenue: % % Sales 494,898 480,982 13,916 2.9 Rentals 81,882 84,440 (2,558) (3.0) 100.0 576,780 100.0 565,422 11,358 2.0 Cost of sales: Sales 309,900 307,919 1,981 0.6 Rentals 37,720 37,151 569 1.5 60.3 347,620 61.0 345,070 2,550 0.7 Gross profit 39.7 229,160 39.0 220,352 8,808 4.0 Operating expenses: Selling, general and administrative 26.8 154,482 25.7 145,324 9,158 6.3 Research and development 8.2 47,296 7.3 41,291 6,005 14.5 35.0 201,778 33.0 186,615 15,163 8.1 Operating income before restructuring - - 6.0 33,737 and other charges Restructuring and other charges - - 3.5 19,869 Operating income 4.7 27,382 2.5 13,868 13,514 97.4 Other income (expenses): Interest and dividend income 737 886 (149) Interest expense (599) (1,082) 483 Foreign exchange gains (losses), net 5,120 3,145 1,975 Impairment of investment securities (1,609) (4,445) 2,836 Other, net 471 (4,387) 4,858 0.8 4,120 (1.1) (5,883) 10,003 - Income before income taxes 5.5 31,502 1.4 7,985 23,517 294.5 Income taxes 1.0 5,611 0.0 (149) 5,760 - Equity in net earnings (losses) of affiliated companies (0.5) (2,647) 0.0 27 (2,674) - Net income 4.0 23,244 1.4 8,161 15,083 184.8 Less: Net income attributable to the (0.5) (3,182) (0.4) (2,714) (468) - noncontrolling interests Net income attributable to 3.5 20,062 1.0 5,447 14,615 268.3 FUJIFILM Holdings 12
  15. 15. FUJIFILM Holdings Corporation (4901)(3) Consolidated Statements of Changes in Shareholders Equity Amount Unit: Millions of yen Accumulated FUJIFILM Common Additional Retained other Treasury Holdings Noncontrolling Total Equity stock paid-in capital earnings comprehensive stock shareholders interest income (loss) equityBalance at March 31, 2010 40,363 70,283 1,868,362 (150,288) (82,613) 1,746,107 129,722 1,875,829 Comprehensive income (loss): Net income 63,852 63,852 8,971 72,823 Change in net unrealized gains (losses) on securities (8,087) (8,087) (135) (8,222) Foreign currency translation adjustments (38,092) (38,092) (2,122) (40,214) Pension liability adjustments (10,349) (10,349) (1,651) (12,000) Change in net unrealized gains (losses) on derivatives (42) (42) (14) (56) Net comprehensive income 7,282 5,049 12,331 Purchases of stock for treasury (20,026) (20,026) (20,026) Sales of stock from treasury 70 45 115 115 Dividends paid to FUJIFILM Holdings shareholders (14,555) (14,555) (14,555) Dividends paid to noncontrolling interests (3,181) (3,181) Issuance of stock acquisition rights 577 577 577 Equity transactions and other 3,026 3,026 (3,245) (219)Balance at March 31, 2011 40,363 73,956 1,917,659 (206,858) (102,594) 1,722,526 128,345 1,850,871 Comprehensive income (loss): Net income 43,758 43,758 13,227 56,985 Change in net unrealized gains (losses) on securities 7,606 7,606 53 7,659 Foreign currency translation adjustments (16,902) (16,902) 102 (16,800) Pension liability adjustments (19,201) (19,201) (3,431) (22,632) Change in net unrealized gains (45) (45) (15) (60) (losses) on derivatives Net comprehensive income 15,216 9,936 25,152 Purchases of stock for treasury (7) (7) (7) Sales of stock from treasury 24 70 94 94 Dividends paid to FUJIFILM Holdings shareholders (16,860) (16,860) (16,860) Dividends paid to noncontrolling interests (4,620) (4,620) Issuance of stock acquisition rights 650 650 650 Equity transactions and other 150 150 1,054 1,204Balance at March 31, 2012 40,363 74,780 1,944,557 (235,400) (102,531) 1,721,769 134,715 1,856,484 13
  16. 16. FUJIFILM Holdings Corporation (4901)(4) Consolidated Statements of Cash Flows Amount Unit: Millions of yen Year ended Year ended March 31, 2012 March 31, 2011 From April 1, 2011 From April 1, 2010 Change To March 31, 2012 To March 31, 2011Operating activities Net income 56,985 72,823 (15,838) Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 147,775 157,094 (9,319) Impairment losses for long-lived assets 158 7,673 (7,515) Decline in value of investment securities 19,398 5,619 13,779 Deferred income taxes 7,177 24,263 (17,086) Equity in net earnings of affiliated companies, less dividends received 7,416 (1,831) 9,247 Changes in operating assets and liabilities: Notes and accounts receivable (50,329) (14,145) (36,184) Inventories (24,511) (38,207) 13,696 Notes and accounts payable - trade (5,388) 1,216 (6,604) Accrued income taxes and other liabilities (22,263) (15,405) (6,858) Other (1,285) 254 (1,539) Subtotal 78,148 126,531 (48,383) Net cash provided by operating activities 135,133 199,354 (64,221)Investing activities Purchases of property, plant and equipment (100,768) (96,149) (4,619) Purchases of software (21,004) (18,055) (2,949) Proceeds from sales and maturities of marketable 38,981 71,782 (32,801) and investment securities Purchases of marketable and investment securities (13,558) (42,472) 28,914 (Increase) decrease in investments in and 361 (4,553) 4,914 advances to affiliated companies Acquisitions of businesses and minority interests, (61,013) (32,497) (28,516) net of cash acquired Other (28,874) (8,816) (20,058) Net cash used in investing activities (185,875) (130,760) (55,115)Financing activities Proceeds from long-term debt 6,860 55 6,805 Repayments of long-term debt (19,732) (118,832) 99,100 Increase in short-term debt, net 7,297 9,027 (1,730) Cash dividends paid (15,655) (13,438) (2,217) Subsidiaries cash dividends paid to (4,620) (3,181) (1,439) noncontrolling interests Net purchases of stock for treasury (6) (20,013) 20,007 Other 1,452 - 1,452 Net cash used in financing activities (24,404) (146,382) 121,978Effect of exchange rate changes on cash and cash (2,820) (15,319) 12,499equivalentsNet decrease in cash and cash equivalents (77,966) (93,107) 15,141Cash and cash equivalents at beginning of year 313,070 406,177 (93,107)Cash and cash equivalents at end of year 235,104 313,070 (77,966) 14
  17. 17. FUJIFILM Holdings Corporation (4901)(5) Note Relating to the Going Concern Assumption N/A(6) Summary of Significant Accounting Policies (A) Scope of consolidated subsidiaries Number of Subsidiaries : 268 Main companies : FUJIFILM Corporation, Fuji Xerox Co., Ltd., Toyama Chemical Co., Ltd. , and others (B) Scope of affiliated companies Number of Affiliates : 42 Main companies : DAITO CHEMICAL CO., LTD. ,SANRITZ CORPORATION, and others (C) Significant Accounting Policies The consolidated financial statements of FUJIFILM Holdings Corporation are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Since there have been no significant changes in significant accounting policies disclosed in the latest Annual Security Report filed on June 30, 2011, we omit the relevant disclosures. 15
  18. 18. FUJIFILM Holdings Corporation (4901)(7) Notes to Consolidated Financial Statements Segment Information 1. Year ended March 31 st (A) Operating Segment Information Revenue Amount Unit: Millions of yen Year ended Year ended March 31, 2012 March 31, 2011 Change From April 1, 2011 From April 1, 2010 Amount % To March 31, 2012 To March 31, 2011Revenue: % % Imaging Solutions: External customers 14.7 322,706 14.7 325,804 (3,098) (1.0) Intersegment 750 799 (49) - Total 323,456 326,603 (3,147) (1.0) Information Solutions: External customers 40.4 887,758 41.4 917,391 (29,633) (3.2) Intersegment 1,884 1,950 (66) - Total 889,642 919,341 (29,699) (3.2) Document Solutions: External customers 44.9 984,829 43.9 973,889 10,940 1.1 Intersegment 10,244 8,115 2,129 - Total 995,073 982,004 13,069 1.3 Eliminations (12,878) (10,864) (2,014) - Consolidated total 100.0 2,195,293 100.0 2,217,084 (21,791) (1.0) Operating income Amount Unit: Millions of yen Year ended Year ended March 31, 2012 March 31, 2011 Change From April 1, 2011 From April 1, 2010 Amount % To March 31, 2012 To March 31, 2011Operating Income (Loss): % % Imaging Solutions (1.2) (3,981) (3.9) (12,693) 8,712 - Information Solutions 7.6 67,446 11.3 103,512 (36,066) (34.8) Document Solutions 8.2 81,814 7.6 74,213 7,601 10.2 Total 145,279 165,032 (19,753) (12.0) Corporate expenses and eliminations (32,331) (28,676) (3,655) - Consolidated total 5.1 112,948 6.2 136,356 (23,408) (17.2)Note: The major products and services of each operating segment are as follows: Imaging Solutions Color films, digital cameras, photofinishing equipment and color paper, chemicals and services for photofinishing Information Solutions Equipment and materials for medical systems and life sciences, pharmaceuticals, equipment and materials for graphic arts, flat panel display materials, recording media, optical devices and electronic materials Document Solutions Office copy machines/MFPs, printers, production systems and services, office services, paper and consumables 16
  19. 19. FUJIFILM Holdings Corporation (4901) Assets Amount Unit: Millions of yen As of As of Change March 31, 2012 March 31, 2011 Amount %Total assets: Imaging Solutions 271,159 291,035 (19,876) (6.8) Information Solutions 1,324,718 1,259,912 64,806 5.1 Document Solutions 988,424 967,040 21,384 2.2 Subtotal 2,584,301 2,517,987 66,314 2.6 Eliminations (6,783) (5,346) (1,437) - Corporate assets 162,147 196,200 (34,053) (17.4) Consolidated total 2,739,665 2,708,841 30,824 1.1 Depreciation and amortization, and Capital expenditures Amount Unit: Millions of yen Year ended Year ended March 31, 2012 March 31, 2011 Change From April 1, 2011 From April 1, 2010 Amount % To March 31, 2012 To March 31, 2011Depreciation and amortization: Imaging Solutions 10,825 10,104 721 7.1 Information Solutions 76,230 77,367 (1,137) (1.5) Document Solutions 57,505 65,790 (8,285) (12.6) Corporate 3,215 3,833 (618) (16.1) Consolidated total 147,775 157,094 (9,319) (5.9)Capital expenditures: Imaging Solutions 9,184 8,108 1,076 13.3 Information Solutions 59,869 61,821 (1,952) (3.2) Document Solutions 19,306 19,540 (234) (1.2) Corporate 2,587 463 2,124 458.7 Consolidated total 90,946 89,932 1,014 1.1 17
  20. 20. FUJIFILM Holdings Corporation (4901) (B) Geographic Information Revenue Amount Unit: Millions of yen Year ended Year ended Change March 31, 2012 March 31, 2011 From April 1, 2011 From April 1, 2010 Amount % To March 31, 2012 To March 31, 2011Revenue: % % Japan External customers 59.3 1,301,670 61.2 1,357,335 (55,665) (4.1) Intersegment 411,480 379,170 32,310 - Total 1,713,150 1,736,505 (23,355) (1.3) The Americas External customers 14.6 319,514 13.9 309,375 10,139 3.3 Intersegment 27,218 23,220 3,998 - Total 346,732 332,595 14,137 4.3 Europe External customers 9.4 206,192 9.3 205,287 905 0.4 Intersegment 15,354 11,240 4,114 - Total 221,546 216,527 5,019 2.3 Asia and others External customers 16.7 367,917 15.6 345,087 22,830 6.6 Intersegment 277,152 275,510 1,642 - Total 645,069 620,597 24,472 3.9 Eliminations (731,204) (689,140) (42,064) - Consolidated total 100.0 2,195,293 100.0 2,217,084 (21,791) (1.0) Operating income Amount Unit: Millions of yen Year ended Year ended Change March 31, 2012 March 31, 2011 From April 1, 2011 From April 1, 2010 Amount % To March 31, 2012 To March 31, 2011Operating Income (Loss): % % Japan 4.4 75,659 5.8 100,544 (24,885) (24.8) The Americas 3.3 11,574 1.6 5,388 6,186 114.8 Europe 0.1 221 0.1 143 78 54.5 Asia and others 4.3 27,641 5.4 33,333 (5,692) (17.1) Eliminations (2,147) (3,052) 905 - Consolidated total 5.1 112,948 6.2 136,356 (23,408) (17.2) Long - lived assets Amount Unit: Millions of yen As of As of Change March 31, 2012 March 31, 2011 Amount %Long - lived assets Japan 432,655 451,158 (18,503) (4.1) The Americas 31,638 27,313 4,325 15.8 Europe 42,565 40,331 2,234 5.5 Asia and others 47,058 45,263 1,795 4.0 Consolidated total 553,916 564,065 (10,149) (1.8) 18
  21. 21. FUJIFILM Holdings Corporation (4901) Overseas revenue (Destination Base) Amount Unit: Millions of yen Year ended Year ended March 31, 2012 March 31, 2011 Change From April 1, 2011 From April 1, 2010 Amount % To March 31, 2012 To March 31, 2011Revenue: % % Domestic 46.2 1,012,685 46.7 1,034,806 (22,121) (2.1) Overseas The Americas 16.7 367,652 16.6 368,213 (561) (0.2) Europe 12.0 262,694 11.7 260,543 2,151 0.8 Asia and others 25.1 552,262 25.0 553,522 (1,260) (0.2) Subtotal 53.8 1,182,608 53.3 1,182,278 330 0.0 Consolidated total 100.0 2,195,293 100.0 2,217,084 (21,791) (1.0)Note: The presentation of the overseas revenue (Destination Base) has been classified and disclosed based on the customer’s location. 19

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