Fujifilm has released its financials for the fiscal year ending March 2020, recording a revenue of ¥2,315.1 billion (A$32.9 billion), a decrease of 4.8 per cent from the previous fiscal year.
Its operating income was recorded at ¥186.6 billion, down 11.1 per cent from the previous fiscal year.
Fujifilm said the company has assumed a negative impact of COVID-19 to be ¥47.0 billion on revenue and ¥26.0 billion on operating income.
“Our business performance was greatly affected by the stagnation of economic activities and consumer activities due to the pandemic,” the company said.
“As COVID-19 is expanding rapidly, we are working to ensure the health and safety of our employees and to contribute to the control and end of the pandemic as a company.”
In the materials business, in particular, it mentioned that graphic systems are facing sales decrease in printing plates caused by a decline in demand for posters and leaflets.
Within document solutions, its business is affected by self-restraint from sales activities and a decrease in operation rate of MFP at office due to the spread of work from home.
“Although we foresee that negative impact from the spread of work from home would partly remain even after the epidemic of COVID-19 ends, we aim to realise business growth by accelerating expansion of OEM business and shift to solution service that supports work style innovation,” it said.
In the office products field of the office products and printers business, overall sales volume decreased.
“Sales in the Asia Pacific region and exports to Europe and the US declined, and the domestic sales of the Apeosport-VII C series, our flagship A3 colour multi-function devices, were lower than the previous year in the fourth quarter,” the company said.
In the production services business, although the sale of printers for mission-critical systems decreased, the company mentioned that the overall number of sales units increased from the same period of the previous fiscal year as the “sales remained strong in each region for an on-demand production colour printer called the Iridesse Production Press, whose variations for customising increased with an addition of special toners that realise rich colour expression”.
Fujifilm has also refrained from making a statement with regards to the performance for the fiscal year ending March 2021 as it said “it is difficult to make a reasonable estimate at this stage because of the uncertainty about when the pandemic can be under control”.
The company also mentioned that within the production services business, it aims to maximise synergies with Fujifilm’s graphic systems business and expand into the global market, leveraging its wide line-up of printers – from offset to digital – and strong customer base in the commercial printing field.
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.
Sign up to the Sprinter newsletter