Review of VISION75 (2007)

In the two fiscal years through March 31, 2007, Fujifilm implemented structural reforms throughout its global imaging operations while sustaining proactive capital investment and R&D investment in growth business fields. The benefits of this strategy were evident in the fiscal year ended March 31, 2008, when both net sales and operating income reached record high levels. This indicates that Fujifilm is being successful in realizing its goal of a sharp performance recovery.

In addition, Fujifilm's start of full-scale pharmaceutical operations based on its acquisition of Toyama Chemicals is a highly significant M&A initiative that is expected to make a considerable contribution to the Fujifilm Group's growth over the medium-to-long term.

Regarding our growth strategies, we have proactively worked to develop our business in the emphasized fields of graphic arts, document solutions, optical devices, flat panel display materials, and medical/life-science operations. For example, in the flat panel display materials field, we invested more than ¥60 billion in an ultrawide FUJITAC manufacturing plant at our Kanagawa Factory and additional manufacturing lines at the plant of FUJIFILM Kyushu.
Moreover, we made the important decision to acquire Toyama Chemical, and thereby establish a presence in the pharmaceuticals field as a means of helping realize growth over the medium-to-long term.

On the other hand, regarding the VISION75 strategy of “realizing a robust corporate constitution,” we have taken various measures based on our “Slim and Strong Drive” to check efficiency levels in our operations and build a leaner corporate structure.