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Fujifilm stays confident in spite of economic slowdown

Diversification goes on, Structures in Europe are being strengthened

16.01.2009

On the occasion of the traditional press conference at beginning of the year Fujifilm gives a carefully confident outlook for its business in Europe and commits to stay strong even in a harsh business environment. In spite of difficult framework conditions the consequent restructuring course of the company and diversification into new business fields will be continued. Today more than 80% of worldwide turnover are originating from growth areas like graphic industry, medical systems and document solutions. More than 70% of revenues are derived from products which were not even produced in the year 2000.

Worldwide turnover is composed of the categories Information (Graphic Systems, Medical Systems, Material for Flat Panel Displays), Imaging (Digital Cameras, Minilabs, Paper, Film), and Document Solutions (Copiers, Office Systems, Production Systems). With these a turnover of 18 billion Euro (2.846 bln Yen) was realized in fiscal year 2008 (31.03.2008). In the same fiscal year a record level in operating profit was reached with 1,3 billion Euro (207 bln Yen) which is a share of 7,3% in consolidated revenues.

In line with the new orientation of the company, strategic growth areas are being promoted, namely medical imaging and life science, graphic systems, highly functional materials, optical devices and document solutions. This incorporates an offensive capital- and investment policy, mergers and acquisitions in these sectors, and the continuation of the historically high level of R&D expense which amounts to approximately 7% of consolidated turnover.

At the same time, in the area of Imaging fundamental restructuring measures have been carried out, and adaptions to the changed market situation have been made in order to transform this area ino a source of stable cash flow.

Investments for Strengthening competitiveness in Europe

Within the last two years also in Europe investments have been made to strengthen structures and to increase corporate competitiveness. For that purpose, the groupwide IT infrastructure in the European region is being standardized in order to enable efficient operations through cooperation with local sales companies.

While strenghtening structures and centralizing operations, the Pan-European network has been expanded in particular to the Eastern European region as in recent years group companies have been added in Poland, Czech Republic and Slovak Republic. Since January 2009, also Fujifilm Russia was acquired as a subsidiary.

An investment of 96 million Euro has been made into a new CTP plate manufacturing line in Tilburg, The Netherlands, in order to strengthen the company’s position in the Graphic Arts business. The new plant is scheduled to start operation in early 2010.

Also the corporate structure has been realigned by product divisions, the so-called Business Domains, which are responsible on a pan-European level and are working for the needs of local markets together with local entities.

„Through consequent restructuring, adaptation to changed markets, utilization of our technological resources and our power for innovation we have succeeded in developing new business fields and being successful in these” says Shigehiro Nakajima, Managing Director of Fujifilm Europe GmbH. “We will maintain this power of innovation and this will bring us forward even in times of crisis. Our company has set the course for new orientation in all respects in order to promote growth. This is the basis for us to do successful busines in Europe as well.”

Düsseldorf, 16. Januar 2009

Note: * Figures in Euro have been calculated on the basis of Yen exchange rate as of 31 March 2008, which was 158 Yen – 1 Euro.

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