News Release

Fujifilm's operating environment is expected to be affected by the weakness of the fundamental trend of recovery in the U.S. economy as well as the sovereign debt crisis in Europe and other factors promoting economic stagnation. These situations, along with such factors as the start of an economic growth rate slackening in emerging countries and regions, are making it difficult to anticipate future developments. Similarly, in Japan, a demand decrease accompanying yen appreciation and export environment deterioration is combining with other factors to create the risk for an economic downturn.

In view of these conditions, Fujifilm has been strengthening sales network, launching new products, and taking other measures that have been supporting robust sales in China and other emerging markets. However, overall sales have been below planned levels owing to the impact of such factors as yen appreciation, demand decreases due to the deterioration of business confidence, and the difficulty of procuring certain components as a result of the flood in Thailand. Operating income has also been below planned levels owing to the impact of the decrease in sales as well as yen appreciation, expense increases associated with component procurement difficulties stemming from the flood in Thailand, and other factors. Income before income taxes and net income attributable to FUJIFILM Holdings have also been below planned levels as a consequence of negative factors that include impairment loss on investment securities recognized under the stagnant stock markets.

Considering these circumstances, the Company has revised down its forecasts of revenue, operating income, income before income taxes, net income attributable to FUJIFILM Holdings, and net income attributable to FUJIFILM Holdings per share for the fiscal year ending March 31, 2012.