News Release

Notice of Revised Consolidated Earnings Forecast for First Half Period and Full Fiscal Year Ending March 31, 2009

August 28, 2008
FUJIFILM Holdings Corporation

FUJIFILM Holdings Corporation announced today the following revision to its consolidated earnings forecast for first half period and full fiscal year ending March 31, 2009. This replaces the previous forecast announced on April 28, 2008.

1.Revised Earnings Forecast for Fiscal Year Ending March 31, 2009

(1) First Half Period (April 1, 2008-September 30, 2008)

(Millions of yen)

Revenue
Operating income
Income before income taxes, minority interest and equity in net earnings of affiliated companies
Net income
Previous forecast (A)
(issued on Apr. 28, 2008)
1,400,000
95,000
95,000
50,000
Latest revised forecast (B)
1,360,000
73,000
80,000
40,000
Change (B–A)
(40,000)
(22,000)
(15,000)
(10,000)
Percentage (%)
(2.9)
(23.2)
(15.8)
(20.00)
(Ref.) Actual Results For 1H FY 2008/3
1,408,074
108,662
114,767
64,647

(2) Full Year (April 1, 2008-March 31, 2009)

(Millions of yen)

Revenue
Operating income
Income before income taxes, minority interest and equity in net earnings of affiliated companies
Net income
Previous forecast (A)
(issued on Apr. 28, 2008)
2,900,000
210,000
210,000
110,000
Latest revised forecast (B)
2,850,000
160,000
163,000
80,000
Change (B–A)
(50,000)
(50,000)
(47,000)
(30,000)
Percentage (%)
(1.7)
(23.8)
(22.4)
(27.3)
(Ref.) Actual Results For FY 2008/3
2,846,828
207,342
199,342
104,431

2. Reasons for the Revision

Amid slack economic conditions throughout the world as well as surges in the prices of natural resources and raw materials, the operating environment in the current fiscal year ending March 2009 has been harsher than that of previously forecasted. Moreover, economic trends are expected to be further deteriorating and there will be less possibility of the early improvement in the operating environment. In response to these situations we intend to pursue the profit improvement initiatives such as additional cost down programs, cutting back the SG&A expenses and the structural reforms.

Considering the impact of the additional expenses for those initiatives and further deterioration of operating environment, we are revising our estimated earnings forecast downward as for the first half period and full fiscal year.

Note: These forecast are based on the Company’s current assumptions and beliefs in light of the information currently available to it, and involve known and unknown risks and uncertainties. The Company’s actual results may differ materially from those discussed in the forward-looking statements.

Media Contact

FUJIFILM Holdings Corporation
Corporate Planning Division Public Relations Group
Tel: +81-3-6271-2000
FUJIFILM Holdings Website:
Japanese : http://www.fujifilmholdings.com/ja/
English : http://www.fujifilmholdings.com/en/