Fujifilm still has film in its name, but FUJI DOCS or FUJI HEALTH might be more apt. Fujifilm's main businesses, about 85% of revenue together, are document operations and healthcare and materials. The document business sells printers and office products, and provides manage prints services. The Healthcare & Material Solutions business’s products include diagnostic instruments such as X-ray and ultrasound machines, as well as pharmaceuticals. The company's imaging unit, which makes photographic films and papers, digital cameras, and photofinishing equipment, is its smallest. Customers overseas account for about 60% sales. Founded in 1934, the company’s first product was film for motion pictures.
Fujifilm’s document solutions business generates about 45% of revenue. Besides printers and office equipment, the segment has a commercial printer business that provides high-speed digital printing systems and printing workflow tools.
The Healthcare & Materials segment, about 40% of revenue, makes materials for semiconductors, functional films, and fine chemicals. Other products include biopharmaceuticals and small molecule drugs.
The Imaging Solutions business, about 15% of revenue, makes photographic equipment as the Instax instant camera, digital cameras, and optical devices such as lenses.
Four years of increasing revenue was interrupted in 2017 (ended March), when sales fell 9% from the previous year. The company’s bottom line had a steadier path with six straight years of rising net income.
In 2018, revenue rose 5% to ¥2.4 trillion, a gain of about 108 billion from 2017. Sales were propelled by gains in the optical devices and electronic imaging equipment, medical systems, and electronic imaging.
Net income rose about 2% to ¥197.8 billion in 2018 from 2017.
Fujifilm ended 2018 with ¥768.2 billion in cash and equivalents, down ¥107.7 billion from 2017. Operations generated ¥149.4 billion in 2018, while investing activities used ¥11.8 billion and financing activities used ¥259 billion.
Fujifilm is investing in growth areas such as healthcare and highly functional materials with internal resources and through acquisitions. To build its regenerative medicine capabilities, Fujifilm acquired Irvine Scientific Sales Co. and IS Japan Inc., both of which develop cell culture media, 2018. The company’s next step is to industrialize regenerative medicine through collaborations with academic institutions and government agencies.
In the document business, the company is developing processes and services that use artificial intelligence and Internet of Things technologies to make products that improve the efficiency of office work.
Mergers and Acquisitions
In 2018 Fujifilm acquired Irvine Scientific Sales Co., based in the US, and IS JAPAN CO., developers of cell culture media, for about US$800 million. The deals broadened Fujifilm’s biopharmaceutical portfolio to include vitro fertilization and cell therapy.
In another 2018 deal Fujifilm merged its PI Pharma Co. with Toyama Chemical Co., a Japanese company develops small molecule pharmaceutical products. The deal should accelerate Fujifilm’s development of diagnostic and therapeutic drugs.
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Employer Type: Privately Owned
Senior Director of Supply Chain and Business Unit Manager Systems: Greg Balch
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