Imaging Solutions (1st Quarter Fiscal 2008 Earnings)

The trend of declining demand for color films and digital minilabs continued, but color paper sales grew, reflecting efforts to stimulate demand for digital camera prints as well as switches to the Company's products upon the withdrawal of other manufacturers from the color paper market. Owing to these factors and strong sales of digital cameras, consolidated revenue in the Imaging Solutions segment declined only 3.8%, to ¥144.2 billion.

The operating income for this segment amounted to ¥10.2 billion. This figure is up ¥26.1 billion from the level in the same period of the previous fiscal year, when ¥20.9 billion in structural reform expenses led to the recording of an operating loss. However, even disregarding those expenses, pro-forma operating income rose 108.4% to ¥5.2 billion.

Although the segment's operating profitability was negatively affected by the stubbornly high price of silver, this was offset by progress in improving the segment's cost structure through such structural reform measures as those aimed at reorganizing manufacturing systems and streamlining workforces. The improved operating profitability also reflected the benefits of yen depreciation.

• Fiscal Year 2008 (April 1, 2007 - March 31, 2008)
• Fiscal Year 2007 (April 1, 2006 - March 31, 2007)
• Fiscal Year 2006 (April 1, 2005 - March 31, 2006)
• Fiscal Year 2005 (April 1, 2004 - March 31, 2005)