Fujifilm’s latest financial results


Fujifilm published their Revised Consolidated Earnings Forecast for the Fiscal Year Ended March 2017 after the company's stock took a nose dive because of reported accounting problems:

"Although sales in areas such as electronic imaging field of the optical device and electronic imaging business have increased, our sales and operating income has decreased due to a decrease in sales in the healthcare business and the document business."




The latest Fujifilm FY2017 financial report and presentations can be found here:

  • In the business of photo imaging, strong sales were seen in Europe and United States for instant photo systems such as the Instax series and Instax films. The Wall Decor and other value-added printing businesses also enjoyed solid sales.
  • The business of electronic imaging achieved a sales growth due to positive sales of the X Series of mirrorless digital cameras such as FUJIFILM X-T2 and FUJIFILM X-T20 as well as their interchangeable lenses, and strong sales of the FUJIFILM GFX 50S, a medium-format mirrorless digital camera equipped with a large sized sensor, released in February.
  • The business of optical devices suffered a decline in sales as a result of sales contraction in smartphone camera modules. Its product lineup is being transformed with greater focus on value-added products.

Fujifilm also issued a Notice of Impact of Inappropriate Accounting regarding our Consolidated Subsidiaries:

"The accumulated impact of the inappropriate accounting regarding our consolidated subsidiaries on the “net income” on a consolidated basis of the Company for the past few years has become a loss of 37.5 billion yen from a loss of approximately 22 billion yen."



And finally, a quick update on the "Fuji buying Nikon rumor" from last week - I actually got a copy of the original Sentaku article and this is what they had to say (M&A=merger&acqusition):

"Fujifilm Holdings may have no room for M&A now. Fuji Xerox, one of the core subsidiaries of Fujifilm Holdings, has an improper accounting problem at its New Zealand subsidiary, which has made Fujifilm Holdings delay its earnings announcement for FY 2016."

Update - from another related MarketWatch article:

"Fujifilm Holdings Corp. said losses from accounting irregularities in New Zealand were much larger than first thought and extended to its Australian office-equipment unit, a development that raises further doubts about Japanese firms' control over their overseas operations."

Via FujiAddict

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  • Ric of The LBC

    I heard that NyKon is going to by controlling shares of Fuji.

    • Allan

      How do the Japanese pronounce Nikon?

      NyKon, KneeCon, or NikCon?

      • MB

        ニ = Ni pronounced “knee”
        コ = Ko
        ン = N
        https://youtu.be/Njo8KrSXfEE

        • Jeffry De Meyer

          Like everyone except the Americans

          • Ric of The LBC

            and Canukians

        • Ric of The LBC

          When in Rome……

      • abortabort

        From the ‘throwback thursday’ article on DPR for the D3:

        “In addition to the cameras, the presentation was also memorable for a closing appeal from a very senior Nikon executive to the assembled US press. Please – he requested – please pronounce ‘Nikon’ correctly as ‘Nick-on’ not ‘Nye-con’ – a plea that was of course completely ignored by all concerned.”

        • Ric of The LBC

          blame Simon and Garfunkel

        • Allan

          So this is different than MB, below?

          • abortabort

            Not drastically. Phonetically he is seperating the Ni and Ko and N. DPR are grouping them into Nick and On. It’s closer to the latter than the former though as far as I know, but they are pretty similar as the second syllable causes a change of inflection, which probably cause the difference compared to the broken down components. It is definitely, definitely not Neigh-Con like Americans say though.

          • Allan

            When I listen to MB’s audio, it sounds like Knee, not Nick.

          • abortabort

            To me it doesn’t sound like Knee or Nick, but Nikon. Try the ‘N’ in MB’s example, is it an ‘en’ or a ‘ne’? Because it should be an ‘en’ according to the same breakdown. And is it a ‘Ko’ or a ‘coh’?

            Just saying that the individual phonetics don’t mean that’s how they play out when strung together. I would say it’s somewhere between the two. The second syllable softens and shortens the ‘knee’ and the upward inflection pushes it towards ‘Nick’, but isn’t quite that either.

            I don’t think anyone would be offended by the slight difference which is probably eaten up by accents anyway. But it isn’t ‘nigh’.

          • Allan

            We need to find a specialist in orthoepy, study of correct pronunciation prescribed for Standard English. He can listen to Ms. Nikon correctly say “Nikon” and then use the standard set of phonemic symbols for English (RP and similar accents), below, to help us say Nikon correctly.

            🙂

            Vowels
            ɪ kit, bid, hymn, minute
            e dress, bed, head, many
            æ trap, bad
            ɒ lot, odd, wash
            ʌ strut, mud, love, blood
            ʊ foot, good, put

            iː fleece, sea, machine
            eɪ face, day, break
            aɪ price, high, try
            ɔɪ choice, boy

            uːgoose, two, blue, group
            əʊ goat, show, no
            aʊ mouth, now

            ɪə near, here, weary
            eə square. fair, various
            ɑː start, father
            ɔː thought, law, north, war
            ʊə poor, jury, cure
            ɜː nurse, stir, learn, refer

            ə about, common, standard
            i happy, radiate. glorious
            u thank you, influence, situation

            n̩ suddenly, cotton
            l̩ middle, metal

            ˈ(stress mark)

          • abortabort

            Haha well definitely not me 😉

          • Ric of The LBC

            Neigh-Con? =Nay-Con. Like Neighbor

            Ny-Kon

          • Allan

            Trigger says Nay-Con.

          • Ric of The LBC

            I don’t know who that is

          • Allan

            Roy Rogers and his horse, Trigger.

          • Ric of The LBC

            HA! Got it. Mr. Ed says it too!

          • abortabort

            Sorry typo. ‘Nigh’ as in ‘the end is nigh’ or ‘night’. It is NOT ‘nigh-kon’.

          • Ric of The LBC

            323 million Americans and 35 million Canadians (well who knows aboot the frenchies) will differ. 🙂

          • abortabort

            And of course they are arrogant enough to think that they ‘must’ be right… as they are the centre of the known universe.

          • Allan

            Too funny. (I’m from Montreal.)

          • a4

            Ignorance doesn’t make you right about everything.

          • a4

            Nope.

  • “Fujifilm Holdings may have no room for M&A now.” So when Fuji have no accounting errors and the profits look good, that’s when they would acquire Nikon?

    What was this whole article about. Was the Japanese Government actually asking Fuji to help Nikon, but Fuji refused because of accounting errors?

    • Thom Hogan

      Absorbing something as large as Nikon would have been a stretch for Fujifilm with or without the accounting issues. Moreover, Fujifilm mostly has its sights set on medical business expansion. They really wanted the Toshiba medical business that Canon managed to snap up.

  • Aditya Gupta

    Hey peter, B&H is showing that the sigma 24-70 f2.8 art will be available for purchase on 22 June. js

    • Thanks, so my report was correct.

  • MB

    So Fuji photo imaging (Instax series and Instax films etc) is selling almost 5 times more than electronic imaging (X Series etc) … wow …

    • Yes, Instax is Fuji’s hit. That’s why Leica cloned it.

    • Jeffry De Meyer

      Yes, we should be happy there are more sectors that need decent imaging other than photography or everything would have turned in to cellphone and polaroid junk

  • Allan

    If Simon and Garfunkel sing NyKon, so should the rest of the world.

    🙂

  • well i guess nikon goes to china, sorry my japs, but in the good note. nikon will be cheaper? hopefully.

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