Fujifilm feels the cold wind of change
February 6, 2020
The Fujifilm Holdings Corporation consolidated financial results for the nine months, ended 31 December 2019, show revenues down again 4%.
In the period ending 31 December 2019 Fujifilm recorded revenues of ¥1,728 billion ($15.73 billion/ €14.3 billion), down 4% on the same period of the previous financial year.
In the Document Solutions segment, Fujifilm’s recorded revenue amounted to ¥721.1 billion ($6.56 billion/ €5.97 billion), which is down 2.2% from the same period of the previous fiscal year. Fujifilm explained that overall sales volumes decreased in the office products and printer’s business, due to a decrease in exports to Europe and the United States. However, sales of its flagship colour multifunction devices were very strong in Japan.
In November 2019, Fujifilm acquired all the shares of Fuji Xerox Co., Ltd. owned by Xerox Corporation and announced in January it will end its agreement with Xerox by 31 March 2021. Fujifilm said in its financial report: “By making it a wholly owned subsidiary, we will accelerate the business expansion into growth areas and further enhance our ability to respond to issues of our customers through flexible personnel exchanges within the Fujifilm Group, active sharing of technology and collaboration.
“In addition, our business opportunities will expand by launching a worldwide OEM supply of printer engines and other products while we continue stable supply of products to Xerox Corporation as before, increasing our capability for cash generation.”
Categories : City News
Tags : Business Financials Fujifilm OEM
