Fujifilm Holdings Consolidated Financial Results (1st Quarter Fiscal 2010 Earnings)
The Company's consolidated revenue declined to ¥502.4billion, or 23.1% below the level in the previous fiscal year.
Revenue in each operating segment decreased owing to the impact of sales drop by yen appreciation as well as the impact of the global recession and associated demand drops. The amount of ¥34.1 billion out of sales reduction of ¥151.3 billion was negatively affected by yen appreciation.
To generate profit amid the current unprecedentedly harsh operating environment and ensure that it can continue to achieve corporate growth, the Fujifilm Group is endeavoring to build a robust corporate constitution and promote the rebuilding of growth strategies regarding emphasized business fields.
The Company is resolutely implementing concentrated structural reforms and thoroughly implementing measures to reduce costs and expenses throughout the entire Group and all businesses without any excluded business fields from the scope of those measures. The implementation of these measures proceeded on schedule during the first quarter of the current fiscal year, and restructuring and other charges during the quarter amounted to ¥10.3 billion.
Operating income before restructuring and other charges amounted to ¥7.6 billion (down 84.1% from the same period of the previous fiscal year), reflecting the impact of the revenue decrease and the negative impact of ¥8.2 billion by yen appreciation, while operating income after restructuring and other charges amounted to a loss of ¥2.7 billion, reflecting the recording of ¥10.3 billion in restructuring and other charges. Income before income taxes was ¥1.2 billion (down 97.9%, from the same period of the previous fiscal year), and the net loss attributable to FUJIFILM Holdings totaled ¥0.7 billion.