Fourth-quarter restructuring charges at Fujifilm Holdings Corp., Tokyo, Japan, widened the net loss from Y31.45 billion for the three months ending in March, compared to a year-earlier loss of Y18.93 billion. Revenue grew 10 percent to Y584.56 billion from Y530.18 billion.
Its cost of restructuring, including job cuts and downsizing of its photographic product business, totaled Y77.7 billion for the quarter and Y143.7 billion through the fiscal year ended March, the company said.
In the Imaging Solutions segment, consolidated revenue was negatively affected by such factors as declining demand for color films as well as the appreciation of the yen, and other factors. As a result, consolidated revenue in the Imaging Solutions segment amounted to ¥345.5 billion, down 15.8 percent from the previous fiscal year.
Reflecting such factors as the decrease in consolidated revenue and the impact of yen appreciation, operating income before restructuring and other charges for the segment amounted to a loss of ¥15.1 billion. The segment’s operating income after restructuring and other charges amounted to a loss of ¥69.2 billion.
Regarding the color paper business, Fujifilm’s sales decreased due to yen appreciation and other factors, but the company has increased market share through marketing-promotion measures such as high-value-added print services including photo books.
In the electronic imaging business field, Fujifilm’s sales volume increased owing to such factors as the company’s launch of entry-level models designed to meet consumer needs in each region, and the company’s new product introductions.
Fujifilm said its operating profit before the restructuring charge came to Y38.08 billion, a sharp improvement from a loss of Y45.25 billion a year earlier, as demand picked up for digital cameras, copiers and film for flat panel television screens.
The company expects Y25 billion in additional restructuring costs for the current fiscal year to March 2011, but orecast a return to profitability with a net profit of Y60 billion and an operating profit of Y120 billion on revenue of Y2.300 trillion.