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Fujifilm’s Third Quarter Profits Drop By Over Half

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October 31, 2005 - Despite earnings from laser printers, copiers, and components used in LCD manufacturing, and a rise in group sales of 5.8 percent, Fuji has reported a substantial 53 percent third quarter loss of 32.6 billion yen ($283 million), or 53 percent. This is an even greater loss than the 47 percent that Fuji had predicted.

Fuji pins much of the blame on its floundering imaging solutions unit, responsible for photographic film and paper. Fuji already had restructuring plans in place, but is considering speeding things up in light of a 5 billion yen third quarter loss.

"Given the tough environment surrounding our imaging solutions business, we are considering further steps that would involve manufacturing, sales, distribution and development laboratory operations on a global scale," said Toshio Takahashi, Chief Financial Officer.

Poor digital camera sales are also responsible. Fuji is limited in their offerings to the higher end of the market, and competition among low and mid-range compacts is tough. Sales estimations for the 2005/2006 business year were revised from 7.7 million units to 6.5 million.

Fuji is still forecasting however that their operating profit for the year ending March 2006 will rise 3 percent to 170 billion yen.

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