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May 1, 2007 – Fujifilm last week announced it is cutting its losses from the previous fiscal year. Fuji reported that the company had a 7 percent net loss versus a 56 percent loss in 2006, according to their annual financial consolidated results.
In the fiscal year ending March 31, 2007, Fuji’s net loss amounted to 34.4 billion yen ($288 million USD) versus last year's loss of 37.0 billion yen ($309 million).
Fuji attributed the shrinking net losses to a recovering Japanese economy and "moderate expansion" in the U.S. During the last year, Fuji expanded their digital imaging and document businesses with goals to stimulate digital camera and photo print demand, according to the report. Fuji is also making efforts to shift manufacturing operations to China.
The manufacturer reported strong sales of two particular digital camera models – the FinePix F31*fd* and FinePix Z5*fd*, known for high ISO sensitivity and face detection technology. While Fuji increased its color paper sales, the company experienced declining sales of color film and digital minilabs.
For the 2008 fiscal year, Fuji is planning structural reforms of its imaging division including "personnel reduction," according to the report.