Consolidated Financial Results (3rd Quarter Fiscal 2005 Earnings)

Billions of yen
  Three months ended December 31, 2004 Three months ended December 31, 2003 Change
Amount %
Revenue Domestic 50.9% 325.9 50.6% 325.1 +0.8 +0.3
Overseas 49.1% 314.1 49.4% 317.6 (3.5) (1.1)
Total 100.0% 640.0 100.0% 642.7 (2.7) (0.4)
Operating Income 6.8% 43.6 8.2% 52.9 (9.3) (17.7)
Income before Income Taxes 5.9% 38.0 8.2% 52.5 (14.5) (27.5)
Net Income 3.2% 20.8 4.7% 30.4 (9.6) (31.6)
Exchange Rate US$ ¥106 ¥109 (¥3)
Euro ¥137 ¥130 +¥7

During the three-month period ended December 31, 2004, Fujifilm's consolidated revenue benefited from continued strong demand for flat panel display materials and a large rise in overseas sales of office-use printers. However, sales were negatively affected by a decrease in demand for color film in Japan as well as in the Americas and Europe, a drop in recording media prices due to intensifying competition, and other factors. As a result, the Company's consolidated revenue declined to ¥640.0 billion, down 0.4% from the same period of the previous year. Domestic revenue amounted to ¥325.9 billion, up 0.3 %, while overseas revenue totaled ¥314.1 billion, down 1.1 %. Regarding the cost of sales and operating expenses, Fujifilm moved ahead with such measures as those to reform and optimize procurement processes, improve manufacturing efficiency, and tighten the strategic focus of R&D investments. However, a rise in raw materials costs, and non-recurring expenses incurred in connection with the reform of domestic marketing and distribution systems restrained operating income to ¥43.6 billion, down 17.7 %. Regarding non-operating income and expenses, foreign exchange losses recognized on the settlement and translation of foreign currency-denominated receivables were ¥3.5 billion greater than in the same period of the previous fiscal year. Reflecting this and other factors, income before income taxes amounted to ¥38.0 billion, down 27.5 %, and net income was ¥20.8 billion, down 31.6%.

The exchange rates for the US dollar and the euro against the yen during the period were ¥106 and ¥137, respectively

Consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America.

Archives (FY2008 - FY2005)