Consolidated Financial Results (1st Quarter Fiscal 2007 Earnings)

Billions of yen
  1Q FY2007
(Apr. 1 to Jun. 30, 2006)
1Q FY2006
(Apr. 1 to Jun. 30, 2005)
Change
Amount %
Revenue 100.0% 656.8 100.0% 625.2 +31.6 +5.1
Pro-forma Operating Income 6.6% 43.1 5.4% 33.7 +9.4 +27.8
Structural Reform Expenses   27.4   2.5 +24.9  
Operating Income 2.4% 15.7 5.0% 31.2 (15.5) (49.5)
Income before Income Taxes 2.7% 18.0 5.2% 32.5 (14.5) (44.7)
Net Income 0.7% 4.8 2.6% 16.0 (11.2) (69.9)
Capital Expenditure*   23.2   39.3 (16.1) (41.0)
Depreciation & Amortization   58.8   50.2 +8.6 +17.2
R&D Expenses 6.6% 43.5 6.9% 43.4 +0.1 +0.1
Exchange Rate: US$ ¥115 ¥108 +¥7
Euro ¥143 ¥136 +¥7
  • *Note:Figures do not include amounts for rental equipment handled by the Document Solutions segment.

Revenue

During the first quarter of fiscal 2007 (April 1, 2006, through June 30, 2006), consolidated revenue increased to ¥656.8 billion, up 5.1% compared with the same period in the previous fiscal year. A decrease in the imaging solutions segment revenue was more than offset by a surge in information solutions segment revenue, centered on sales of flat panel display (FPD) materials and CTP printing plates, and an increase in document solutions segment revenue, centered on overseas markets.

Income

The strong impact of the ¥27.4 billion cost of structural reform measures that have been implemented in a concentrated manner since the previous fiscal year caused operating income to drop 49.5%, to ¥15.7 billion. Excluding the cost of those structural reforms, however, pro forma operating income surged 27.8%, to ¥43.1 billion, as higher costs due to rises in the prices of such main raw materials as silver and aluminum were more than offset by such factors as the enhancement of gross profit ratios by growth in sales volume, the improvement of gross profits margins due to structural reforms implemented in the previous fiscal year, and the strategic reduction of expenses.

Continuing from the previous fiscal year, the structural reforms undertaken during the quarterly period under review entailed moving further ahead with the reorganization of Fujifilm's tripolar global manufacturing system for photosensitive materials. This reorganization was accompanied by measures to reduce the number of employees in certain manufacturing departments, and the Company also proceeded with general efforts to streamline and optimize its workforces in its R&D, manufacturing, marketing/distribution, photofinishing laboratory, and other departments. These various measures led to the recording of ¥ 27.4 billion in restructuring and other charges. They are consisted of fixed assets related costs of ¥ 15.5 billion and employee related costs of ¥11.9 billion including one-time additional termination benefits.

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

Archives (FY2008 - FY2005)