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Fujifilm announces first quarter results

August 13, 2020

The company announced its consolidated results for the first quarter ended 30 June recording a year-on-year decrease in revenue of 14.8%.

Fujifilm recorded revenue for the first quarter ended 30 June 2020 of ¥456.27 billion ($4.27 billion/ €3.61 billion), a decrease of 14.8% year-on-year. Operating income decreased 45.1% to ¥20.39 billion ($190.96 million/ €161.38 million) during the recording period.

For its Document Solutions segment, consolidated revenue amounted to ¥189.4 billion ($1.77 billion/ €1.5 billion), down 18.7% year-on-year. Fujifilm said that due to factors as the COVID-19 pandemic and a negative impact of foreign exchange from depreciation of Asian currencies the results saw this downturn. Operating income for the segment amounted to ¥12.9 billion ($120.82 million/ €102.11 million), down 40.8% year-on-year.

Fujifilm explained: “Regarding the office products business, overall sales volume decreased from the same period of the previous fiscal year mainly due to a decline in exports to Europe and the United States as well as office shutdowns under the COVID-19 pandemic, while sales volume in Japan exceeded the previous year thanks to bulk deals.

“Also, with a huge increase in work-from-home trend due to the COVID-19 pandemic has led to an increased demand for the Netprint service, that allows user to use multifunction printers installed at Seven-Eleven stores throughout Japan to print files that have been registered via the internet. In the office printers field, sales volume decreased in all geographical areas.”

Fujifilm has found in the quarter that due to the expansion of work-from-home, sales of the beat, a service that provides strong security and an easy and convenient network environment, and paperless fax solutions for checking documents sent to an office at home increased.

Fujifilm concluded: “We aim for further growth in the service field by continuously providing new solutions and services that support customers with diversified work styles.”

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