Fujifilm Financial Results for Q1 FY2023: Brisk Sales for X-T5, X-H2, X-H2S and Instax

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Fujifilm has announced the financial results for the first quarter of the fiscal year 2023 (April to June).

Good news for Instax (as to expect) and for the 5th generation X series gear.

  • Revenue from digital cameras increased significantly, mainly due to solid sales of X-H2, X-H2S and X-T5, which were released in FY2022.
  • We will continue to offer attractive products by achieving overwhelmingly high image quality with the large format in the GFX series and the best balance between image quality and size in the X series

The 5th Generation Goodness

Press Release

TOKYO, August 9, 2023 – FUJIFILM Holdings Corporation (President and CEO, Representative Director: Teiichi Goto) announced today the financial results for the first quarter, which ended June 30, 2023.

In the first quarter, revenue increased by 5.6% year-over-year to JPY660.8 billion, mainly due to strong sales in the Medical Systems and Imaging businesses and the impact of exchange rates. Thanks to revenue growth in the Imaging segment, operating income amounted to JPY52.2 billion, increased by 5.4% year-over-year, despite the sluggish semiconductor market for the Electronics Materials business. Net income attributable to FUJIFILM Holdings increased by 31.5% year-over-year to JPY54.4 billion due to valuation gains on marketable and investment securities.

Full-year consolidated forecast for the fiscal year ending March 2024 remains unchanged from the previous forecast, with revenue of JPY2,950.0 billion, operating income of JPY290.0 billion, and net income attributable to FUJIFILM Holdings of JPY225.0 billion, aimed to achieve its record highs. The annual dividend forecast for the fiscal year is JPY150 per share, including the 90th anniversary commemorative dividend of JPY10, marking the 14th consecutive annual dividend increase.

“In the first quarter, the Medical Systems and Imaging businesses contributed to an increase in both revenue and profit,” says Teiichi Goto, president and chief executive officer, representative director, FUJIFILM Holdings Corporation. “In particular, revenue of the Imaging segment increased significantly by 30% year-over-year, and its operating income more than doubled. This demonstrates our ability to continue providing valuable products and services, including the INSTAX series, to the world. We stay committed to our plan to achieve record results in revenue, operating profit, and net income for this fiscal year.”

Imaging:
  • Revenue rose by 27.6% year-over-year to JPY105.2 billion, and operating income increased by 2.2 times year-over-year to JPY23.3 billion due to strong sales of instant photo systems and digital cameras.
  • In the Consumer Imaging business, revenue was boosted by strong sales of instant photo systems, color photographic paper, dry minilabs, and their materials. Sales performed well for the latest entry-level model INSTAX mini 12, the hybrid instant camera INSTAX mini Evo incorporating digital technology, and the smartphone printer INSTAX mini Link 2.
  • The INSTAX SQUARE SQ40, a SQUARE format instant camera launched in June 2023, has also been well received.
  • In the Professional Imaging business, revenue increased significantly due mainly to strong sales of X-H2, X-H2S, and X-T5, which were launched in the previous fiscal year.
  • The X-S20, an all-in-one compact and lightweight model released in June 2023, has been well received in the market with its high-capacity battery, high-performance AF, and video recording functions.

via Fujifilm

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