New book from Fujifilm Chairman & CEO Shigetaka Komori explains
the company's dramatic transformation
'Innovating Out of Crisis' offers a glimpse into why and how the company managed to remain a global innovator
June 17, 2015
Shigetaka Komori, FUJIFILM Holdings Corporation Chairman and CEO, wrote "Innovating Out of Crisis, How Fujifilm Survived (and Thrived) As Its Core Business Was Vanishing, "published by Stone Bridge Press (Berkeley, California). In the book he recounts how he was inspired to lead Fujifilm's journey from the brink of extinction to its current path of prosperity and growth – and a new direction.
In its recent fiscal year ending March 31, 2015, FUJIFILM Holdings Corporation reported a record profit in spite of the loss of its core business several years ago, brought on by a rapid increase in the digitalization of photography as well as the world financial crisis in 2008. In the year 2000, photographic products made up sixty percent of Fujifilm's sales and two thirds of its profit. Within ten years, however, the booming market for digital cameras destroyed that business. In the midst of this, Mr. Komori guided the company through an historic transition from being a traditional photographic company, into a leading global innovator.
In his book, Mr. Komori states, "The company's core photographic film market was shrinking at a spectacular rate, and the situation was critical. Fujifilm had good management resources, first-rate technology, a sound financial footing, a reputable brand, and excellence in its diverse workforce. If all these assets could be effectively combined into a successful strategy and applied, I was sure that something could be done to save the day. The whole of Fujifilm was depending on my managerial skills to make it happen. I was gripped by a strong sense of mission. ‘Maybe I was brought into this world to overcome this crisis,' I thought at the time. The hair stood up on the back of my neck."
Fujifilm is now a leading global company with business interests in a variety of industries, including: healthcare, highly functional materials, document solutions, digital imaging, optical devices and graphic systems . The company has been applying its unique core fundamental technologies, resulting from 80 years of research and development that began with the production of fine, quality photographic products.
Fujifilm will continue to use leading-edge, proprietary technologies to provide top-quality products and services that contribute to the advancement of culture, science, technology and industry, as well as improved health and environmental protection in society. Its overarching aim is to help enhance the quality of life of people worldwide.
FUJIFILM Holdings Corporation, Tokyo, Japan brings continuous innovation and leading-edge products to a broad spectrum of industries, including: healthcare, with medical systems, pharmaceuticals and cosmetics; graphic systems; highly functional materials, such as flat panel display materials; optical devices, such as broadcast and cinema lenses; digital imaging; and document products. These are based on a vast portfolio of chemical, mechanical, optical, electronic, software and production technologies. In the year ended March 31, 2015, the company had global revenues of $20.8 billion, at an exchange rate of 120 yen to the dollar. Fujifilm is committed to environmental stewardship and good corporate citizenship. For more information, please visit: www.fujifilmholdings.com
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