Fiscal 2005 1 Half Earnings · 2020-05-01 · Flat Panel Display Materials: 13% Office & Industry:...

Fiscal 2005 1Fiscal 2005 1stst Half EarningsHalf Earnings

FUJI PHOTO FILM CO., LTD.FUJI PHOTO FILM CO., LTD.October 29, 2004October 29, 2004

FORWARD-LOOKING STATEMENTSThis document contains projections of performance and other projections, which are made based on judgments regarding currently available information and which encompass potential risks and uncertainties. Accordingly, please be aware that diverse factors may cause actual results to differ materially from projected results.

11

Operating ResultsOperating Results

RevenueRevenue (0.5)(0.5)(6.8)(6.8)1,259.71,259.7100.0%100.0%1,252.91,252.9100.0%100.0%

DomesticDomesticOverseasOverseas

%%

ChangeChange

41.141.1

81.081.0

93.793.7

651.0651.0608.7608.7

¥¥118118¥¥133133

3.3%3.3%

6.4%6.4%

7.4%7.4%

51.7%51.7%48.3%48.3%

Six months endedSix months endedSeptember 30, 2003September 30, 2003

(2.1)(2.1)+1.1+1.1

(13.5)(13.5)+6.7+6.7

637.5637.5615.4615.4

50.9%50.9%49.1%49.1%

++8.18.1++7.67.6101.3101.38.1%8.1%Operating Operating IncomeIncome

++28.228.2

++30.730.7

((¥¥8)8)¥¥00

++11.611.6

++24.924.9

AmountAmount

52.752.7

105.9105.9

4.2%4.2%Net IncomeNet Income

¥¥110110¥¥133133

Exchange RatesExchange RatesUS$US$EuroEuro

8.5%8.5%Income before Income before Income TaxesIncome Taxes

Six months endedSix months endedSeptember 30, 2004September 30, 2004

Performance SummaryPerformance Summary

Billions of yenBillions of yen

22

1,000.0

1,200.0

1,400.0

Change in RevenueChange in Revenue

Volumes andVolumes andnew consolidation:new consolidation:

+45.0+45.0

ForeignForeignexchange:exchange:

--22.022.0

Product mix andProduct mix andprice changes:price changes:

--30.030.0YoYYoY: : --6.8 6.8 1,259.71,259.7 1,252.91,252.9


FY2004 1HFY2004 1H FY2005 1HFY2005 1H


33

0.0

50.0

100.0

150.0

Change in Operating IncomeChange in Operating Income

Decrease inDecrease inSG&A & R&D*:SG&A & R&D*:

+21.5+21.5

Volumes andVolumes andnew consolidation:new consolidation:

+23.0+23.0

ForeignForeignexchange:exchange:

--7.07.0

Product mix andProduct mix andprice changes:price changes:

--30.030.0

YoYYoY: +7.6: +7.693.793.7 Others:Others: 101.3101.3



FY2004 1HFY2004 1H FY2005 1HFY2005 1H**””Decrease in SG&A & R&DDecrease in SG&A & R&D”” contains costs related to unrecognized obligation and temporarycontains costs related to unrecognized obligation and temporary gainsgainsthat arise from the transfer of that arise from the transfer of substitutionalsubstitutional portion of employee pension fund liabilities.portion of employee pension fund liabilities.

44

Operating SegmentsOperating Segments

++1.31.3+108.8+108.8

++6.66.6+31.6+31.6

487.5487.528.928.95.9%5.9%

494.1494.160.560.512.2%12.2%

Document SolutionsDocument SolutionsRevenueRevenueOperating IncomeOperating Income

%%ChangeChange

1,259.71,259.793.793.7

(8.9)(8.9)0.10.1

378.9378.934.334.3

402.2402.230.430.4

7.4%7.4%

9.0%9.0%

7.6%7.6%

Six months ended Six months ended September 30, 2003September 30, 2003

((3.0)3.0)(86.0)(86.0)

((12.0)12.0)(26.1)(26.1)

390.2390.24.34.31.1%1.1%

Imaging SolutionsImaging SolutionsRevenueRevenueOperating IncomeOperating Income

(0.2)(0.2)+7.3+7.3

((0.9)0.9)+2.4+2.4

378.0378.036.736.79.7%9.7%

Information SolutionsInformation SolutionsRevenueRevenueOperating IncomeOperating Income

((0.5)0.5)+8.1+8.1

----

((6.8)6.8)+7.6+7.6

(0.5)(0.5)(0.3)(0.3)

AmountAmount

1,252.91,252.9101.3101.3

((9.4)9.4)(0.2)(0.2)

8.1%8.1%Total RevenueTotal Revenue

Operating IncomeOperating Income

EliminationsEliminationsRevenueRevenue

　　 Operating IncomeOperating Income

Six months ended Six months ended September 30, 2004September 30, 2004

Revenue by Operating SegmentImaging:

31%

Information:30%

Document:39%



55

401.7390.1

30.4

4.3

0.0

100.0

200.0

300.0

400.0

500.0

600.0

FY2004-1H FY2005-1H0.0

10.0

20.0

30.0

40.050.0

60.0

70.0

80.0

90.0

100.0

Revenue Operating income

*After elimination ofintersegment transaction

7.6%7.6%

YoYYoY: : --86.0%86.0%

YoYYoY: : --2.9%2.9%

1.1%1.1%

((Left scale) Left scale) (Right scale)(Right scale)


Breakdown of RevenueBreakdown of RevenueRevenueRevenue* * /Operating Income/Operating IncomeImaging SolutionsImaging Solutions


YoYYoY: : --17%17%

YoYYoY: +10%: +10%YoYYoY: : --4%4%

YoYYoY: +4%: +4%

YoYYoY: same level: same level

Color Filmsand Others:

22%

Electronic Imaging:

23%Color Paper

and Chemicals:18%

PhotofinishingEquipment:

13%

Labs andFDi services:

20%

66

Color Films and OthersColor Films and OthersRatio of Revenue:22%Ratio of Revenue:22%YoYYoY: : --17%17%


Focusing on the summer fireworks festival season, Fujifilm undertook an intensivecampaign of TV commercials and other promotional activities for its QuickSnap Smart Flashone-time-use recyclable cameras and domestic sales saw a smooth increase.Domestic sales volume declined approximately 20% YoY, and overseas sales volume wasdown approximately 12%.The Natural Photo System NATURA was launched in Japan in October 2004.

Focusing on the summer fireworks festival season, Fujifilm undertook an intensivecampaign of TV commercials and other promotional activities for its QuickSnap Smart Flashone-time-use recyclable cameras and domestic sales saw a smooth increase.Domestic sales volume declined approximately 20% YoY, and overseas sales volume wasdown approximately 12%.The Natural Photo System NATURA was launched in Japan in October 2004.

Color Paper and ChemicalsColor Paper and ChemicalsFujifilm organized a promotional campaign in Japan for its "Print at Retail" digital photoprinting services.Domestic sales volume declined 6% YoY. Overseas sales volume increased 4% YoY,reflecting a rise in sales of digital minilabs. (The share of digital camera prints among all printsat Frontier-installed retail outlets in Japan rose to an average of approximately 26%.)

Fujifilm organized a promotional campaign in Japan for its "Print at Retail" digital photoprinting services.Domestic sales volume declined 6% YoY. Overseas sales volume increased 4% YoY,reflecting a rise in sales of digital minilabs. (The share of digital camera prints among all printsat Frontier-installed retail outlets in Japan rose to an average of approximately 26%.)

Ratio of Revenue:18%Ratio of Revenue:18%YoYYoY: : --4%4%

Photofinishing EquipmentPhotofinishing EquipmentDigital minilab sales volume increased 35% YoY, to 4,900 units.Digital minilab sales are continuing to be strong overseas, particularly in North America.

Digital minilab sales volume increased 35% YoY, to 4,900 units.Digital minilab sales are continuing to be strong overseas, particularly in North America.

Ratio of Revenue: 13%Ratio of Revenue: 13%YoYYoY: +4%: +4%

77

Electronic ImagingElectronic Imaging

Operating SegmentsOperating SegmentsRatio of Revenue: 23%Ratio of Revenue: 23%YoYYoY: +10%: +10%

Digital camera sales volume increased roughly 28% YoY, to approximately 3,200,000 units.New digital camera products were launched intensively in the second quarter.Fujifilm began supplying its camera modules to overseas camera phone manufacturer.Fujifilm has taken steps to strengthen its profitability in electronic imaging field.

Digital camera sales volume increased roughly 28% YoY, to approximately 3,200,000 units.New digital camera products were launched intensively in the second quarter.Fujifilm began supplying its camera modules to overseas camera phone manufacturer.Fujifilm has taken steps to strengthen its profitability in electronic imaging field.

FinePix F810FinePix E550

FinePix S3 ProFinePix F450

Strengthening lineup of digital cameras Strengthening lineup of digital cameras by launching new productsby launching new products

FinePix F455

88

375.6376.6

34.336.7

0.0

100.0

200.0

300.0

400.0

500.0

600.0

FY2004-1H FY2005-1H0.0

10.0

20.0

30.0

40.050.0

60.0

70.0

80.0

90.0

100.0

Revenue Operating Income

Information SolutionsInformation Solutions


9.0%9.0% YoYYoY: +7.3%: +7.3%

YoYYoY: : --0.3%0.3%

9.7%9.7%



Breakdown of RevenueBreakdown of RevenueRevenueRevenue* * /Operating Income/Operating Income

YoYYoY: : --6%6%YoYYoY: +50%: +50%

YoYYoY: : --12%12%

YoYYoY: : --4%4%

Graphic Arts:29%

Medical Imaging:

27%

Flat PanelDisplay Materials:

13%

Office & Industry:11%

RecordingMedia: 14%

YoYYoY: +3%: +3%


99

Medical Imaging ProductsMedical Imaging Products


Sales of the FCR (Fuji Computed Radiography) line of digital X-ray diagnostic systemshave increased.The scale of business in endoscopes is increasing steadily, helped by launches of new products.

Sales of the FCR (Fuji Computed Radiography) line of digital X-ray diagnostic systemshave increased.The scale of business in endoscopes is increasing steadily, helped by launches of new products.

Graphic Arts System ProductsGraphic Arts System Products Ratio of Revenue: 29%Ratio of Revenue: 29%YoYYoY: : --6%6%

The increasing use of CTP (computer-to-plate) systems throughout the world supported a strongrise in sales of the Company's CTP-related products.　Within Fujfilm’s quadrupolar global manufacturing network, the South Carolina Factory began

operating a new manufacturing line in August. In Europe, the factory in the Netherlands isscheduled to begin manufacturing CTP plates in spring 2005.

The increasing use of CTP (computer-to-plate) systems throughout the world supported a strongrise in sales of the Company's CTP-related products.　Within Fujfilm’s quadrupolar global manufacturing network, the South Carolina Factory began

operating a new manufacturing line in August. In Europe, the factory in the Netherlands isscheduled to begin manufacturing CTP plates in spring 2005.

The South Carolina Factory The South Carolina Factory following the completion of its following the completion of its new CTP manufacturing linenew CTP manufacturing line

Electronic Electronic EndoscopyEndoscopy SystemSystemEPX 4400EPX 4400

The worldThe world’’s first fully digital endoscope s first fully digital endoscope systemsystemOverwhelmingly superior image sharpness Overwhelmingly superior image sharpness and clarity enabling the early detection of and clarity enabling the early detection of tumorstumors

1010

October-December 2005: New FUJITAC plants scheduled to begin operation

April 2005: WV Film production capacity scheduled to be increased

FUJIFILM Opto Materials’ facilitiesin Shizuoka, Japan

Expanding FPD materials production capacity in response to huge Expanding FPD materials production capacity in response to huge demanddemand

Flat Panel Display MaterialsFlat Panel Display Materials


FPD materials sales increased approximately 50% YoY, to approximately ¥50.0 billion.Demand for FUJITAC and WV Film remains robust while there are signs of adjustment in themanufacturing volume levels of panel manufacturers. FUJIFILM Opto Materials Co., Ltd., began operating a new FUJITAC plant in August 2004.

FPD materials sales increased approximately 50% YoY, to approximately ¥50.0 billion.Demand for FUJITAC and WV Film remains robust while there are signs of adjustment in themanufacturing volume levels of panel manufacturers. FUJIFILM Opto Materials Co., Ltd., began operating a new FUJITAC plant in August 2004.

0

1 00

2 00

3 00

0

20

40

60

FUJITAC WV FILM

Future plans for expanding FPD materialsmanufacturing capacity

1111*SuperDLTtape is a trademark of Quantum Corporation in the United States.

*LTO and Ultrium are trademarks of Certance, HP and IBM in the United States and other countries or both. *TotalStorage is a trademark of IBM in the United States and other countries or both.

Recording MediaRecording Media

Operating SegmentsOperating SegmentsRatio of Revenue: 14%Ratio of Revenue: 14%YoYYoY: : --12%12%

Sales of tape cartridges for the IBM TotalStorage® Enterprise Tape Drive 3592 began inAugust 2004, marking the launch of this new Fujifilm brandSales of Super DLTtape™ I and LTO Ultrium 2 were strong.Supplies have begun to Philips of the world’s first DVD dye that enables 16x DVD-R recording.New product launches and augmented advertising campaigns have helped promoteexpanded DVD media sales.

Sales of tape cartridges for the IBM TotalStorage® Enterprise Tape Drive 3592 began inAugust 2004, marking the launch of this new Fujifilm brandSales of Super DLTtape™ I and LTO Ultrium 2 were strong.Supplies have begun to Philips of the world’s first DVD dye that enables 16x DVD-R recording.New product launches and augmented advertising campaigns have helped promoteexpanded DVD media sales.

Office & IndustryOffice & IndustrySales of lens businesses was up due to the increased supplies of lens units for camera phones.Sales of lens businesses was up due to the increased supplies of lens units for camera phones.

Ratio of Revenue: 11%Ratio of Revenue: 11%YoYYoY: : --4%4%

The worldThe world’’s first 16x DVD disks first 16x DVD disk3592 Tape Cartridge loaded with

NANOCUBIC TECHNOLOGY 「DIGI POWER22」

Exhibit at the September 2004 session of Exhibit at the September 2004 session of the IBC exposition, Europethe IBC exposition, Europe’’s largest s largest broadcasting equipment trade fairbroadcasting equipment trade fair

1212

487.2481.4

60.5

28.9

0.0

100.0

200.0

300.0

400.0

500.0

600.0

FY2004-1H FY2005-1H0.0

10.0

20.0

30.0

40.050.0

60.0

70.0

80.0

90.0

100.0

Revenue Operating Income

5.9%5.9%

12.2%12.2%YoYYoY: +108.8%: +108.8%

YoYYoY: +1.2%: +1.2%



Document SolutionsDocument Solutions


Breakdown of RevenueBreakdown of RevenueRevenueRevenue* * /Operating Income/Operating Income

YoYYoY: +2%: +2%

Office Products:56%YoYYoY: +7%: +7%

Office Printers:15%

YoYYoY: same level: same level

Production Services:

10%

YoYYoY: +37%: +37%

Office Services:5%


1313

Office ProductsOffice Products


Steady growth was sustained in domestic sales of digital color multifunction machines.Sales of products in new series in the DocuCentre Color continued to be robust.Digital color multifunction machine sales volume were up approximately 50% in Japanand 30% worldwide.

Steady growth was sustained in domestic sales of digital color multifunction machines.Sales of products in new series in the DocuCentre Color continued to be robust.Digital color multifunction machine sales volume were up approximately 50% in Japanand 30% worldwide.

Office PrintersOffice PrintersStrong performance was recorded in sales overseas and exports.In terms of sales volume, exports to North America and Europe were up approximately35% YoY, and sales in the Asia/Oceania region roughly doubled. Sales volume in Japanwas down approximately 10%, and worldwide sales grew about 10%.

Strong performance was recorded in sales overseas and exports.In terms of sales volume, exports to North America and Europe were up approximately35% YoY, and sales in the Asia/Oceania region roughly doubled. Sales volume in Japanwas down approximately 10%, and worldwide sales grew about 10%.

Ratio of Revenue: 15%Ratio of Revenue: 15%YoYYoY: +7%: +7%

DocuCentre Color New Series Digital Color Multifunction Machinesf450/f360/f250a450/a360/a250 DocuPrint 340A DocuPrint 505

1414DocuColor iGen3 Digital Production Press

Production ServicesProduction Services

Operating SegmentsOperating SegmentsRatio of Revenue: 10%Ratio of Revenue: 10%YoYYoY: same level: same level

Office ServicesOffice ServicesRatio of Revenue: 5%Ratio of Revenue: 5%YoYYoY: +37%: +37%

Exports of digital color printing systems to North America and Europe approximately doubledin volume, YoY.DocuColor iGen3 system was introduced—which is a high-speed, high-precision, full-coloron-demand printing system.

　Recently opened within the Shinagawa Intercity Building, the “epicenter” Digital Print InnovationSupport Center exhibits and demonstrates the full array of Fuji Xerox's digital outputting products.

Exports of digital color printing systems to North America and Europe approximately doubledin volume, YoY.DocuColor iGen3 system was introduced—which is a high-speed, high-precision, full-coloron-demand printing system.

　Recently opened within the Shinagawa Intercity Building, the “epicenter” Digital Print InnovationSupport Center exhibits and demonstrates the full array of Fuji Xerox's digital outputting products.

Document outsourcing business is increasing.Sales of Internet-based “beat” services for medium and small sized business offices were up.Sales have been strong of a new electronic document management system for theadministration of the family register.

Document outsourcing business is increasing.Sales of Internet-based “beat” services for medium and small sized business offices were up.Sales have been strong of a new electronic document management system for theadministration of the family register.

1515

ChangeChange

000082.582.53.1%3.1%82.582.53.2%3.2%Net IncomeNet Income

--++¥¥11¥¥108108¥¥109109Exchange RateExchange Rate::

US$US$

%%

¥¥128128

154.0154.0

164.0164.0

2,680.02,680.0

5.7%5.7%

6.1%6.1%

100.0%100.0%

AnnouncedAnnouncedon July 30on July 30

((2.6)2.6)((70.0)70.0)2,610.02,610.0100.0%100.0%RevenueRevenue

0000164.0164.06.3%6.3%Operating IncomeOperating Income

--

++3.93.9

++¥¥44

+6.0+6.0

AmountAmount

¥¥132132

160.0160.0

EuroEuro

6.1%6.1%Income before Income before

Income TaxesIncome Taxes

AnnouncedAnnouncedon October 29on October 29

Outlook For the FY2005Outlook For the FY2005

Outlook for the year ending March 31, 2005.Outlook for the year ending March 31, 2005. Billions of yenBillions of yen

1616

Building New Growth StrategiesBuilding New Growth Strategies——Creating New Businesse s Expected to Become the Pillars of Creating New Businesse s Expected to Become the Pillars of FujifilmFujifilm’’s s Future OperationsFuture Operations——

M&A Activities and Corporate Alliances

Implementation of VISION 75 (1)Implementation of VISION 75 (1)

R&D Efforts and Results

Promoting New Businesses　　Optical Devices/systems field:Optical Transmission “Optical DVI Link System”.　　Fuji Photo Film:GI Plastic optical fiber “LUMISTAR”　　Fuji Xerox:Optical Transmitting & Receiving Modules “VCSEL/High Speed Transmitter/Receiver”　　FUJINON:Optical Lens Modules

Technology was developed that enables 30 meter digital connection betweenimage transmission and display equipment.

Promoting New Businesses　　Optical Devices/systems field:Optical Transmission “Optical DVI Link System”.　　Fuji Photo Film:GI Plastic optical fiber “LUMISTAR”　　Fuji Xerox:Optical Transmitting & Receiving Modules “VCSEL/High Speed Transmitter/Receiver”　　FUJINON:Optical Lens Modules

Technology was developed that enables 30 meter digital connection betweenimage transmission and display equipment.

Establishment of the Fujifilm Business Development Fund (total budget of ¥20 billion)　As a first project for commercial application of the technology, Fujifilm and NTT Data set up

a joint venture, MEDIAPIX Inc., that began operating on October 1, 2004.

Fujifilm has reached an agreement to acquire the Microelectronic Materials division of

Arch Chemicals Inc., which handles businesses in semiconductor related process materials.

Establishment of the Fujifilm Business Development Fund (total budget of ¥20 billion)　As a first project for commercial application of the technology, Fujifilm and NTT Data set up

a joint venture, MEDIAPIX Inc., that began operating on October 1, 2004.

Fujifilm has reached an agreement to acquire the Microelectronic Materials division of

Arch Chemicals Inc., which handles businesses in semiconductor related process materials.

Optical DVI Link System

1717

Comprehensive Structural Reforms Throughout OperationsComprehensive Structural Reforms Throughout Operations


Reorganization of imaging operationsFUJIFILM Imaging Co., Ltd., began operating on October 1, 2004, therebyintegrating the Fujifilm Group’s domestic imaging-related marketing operationsand the operations of four major distributors, and this is expected to enablereductions in distribution and marketing costs.Merger of five equipment manufacturing subsidiariesOn April 1, 2005, five equipment manufacturing subsidiaries will be unifiedincluding Fuji Photo Equipment Co., Ltd and FUJINON Okaya Corporation thatmanufacture FCRs, Frontier digital minilabs and other products.

Reorganization of imaging operationsFUJIFILM Imaging Co., Ltd., began operating on October 1, 2004, therebyintegrating the Fujifilm Group’s domestic imaging-related marketing operationsand the operations of four major distributors, and this is expected to enablereductions in distribution and marketing costs.Merger of five equipment manufacturing subsidiariesOn April 1, 2005, five equipment manufacturing subsidiaries will be unifiedincluding Fuji Photo Equipment Co., Ltd and FUJINON Okaya Corporation thatmanufacture FCRs, Frontier digital minilabs and other products.

Strengthening Consolidated ManagementStrengthening Consolidated ManagementImplementing cash management system.Fujifilm Group companies are shifting from external borrowings tointra-Group loans, and the Group is moving to unify Group fund administration.This is expected to enable more-efficient fund management and the reductionof external borrowings.

Implementing cash management system.Fujifilm Group companies are shifting from external borrowings tointra-Group loans, and the Group is moving to unify Group fund administration.This is expected to enable more-efficient fund management and the reductionof external borrowings.

Structural Reform of Domestic Distribution and Marketing Operations

1818


Fuji XeroxFuji Xerox’’s Structural Reformss Structural Reforms

Increasing processing charge efficiency, promoting greater use of standardizedcomponents and lowering the procurement costs by shifting mass productionbases to facilities in China.

Increasing processing charge efficiency, promoting greater use of standardizedcomponents and lowering the procurement costs by shifting mass productionbases to facilities in China.

Measures to realize cost reduction

Reforms in information process

Promoting greater efficiency in distribution, development, administrative, andother operations by rebuilding its information process base.

Promoting greater efficiency in distribution, development, administrative, andother operations by rebuilding its information process base.

Organizational and Staffing Reforms

Shifting to a business division system from its internal company system.Streamlining organization and reducing divisions.Implementing a comprehensive personnel expense reduction program includingsuch measures as the introduction of a voluntary early retirement scheme andthe reevaluation of current pension and retirement allowance systems.

Shifting to a business division system from its internal company system.Streamlining organization and reducing divisions.Implementing a comprehensive personnel expense reduction program includingsuch measures as the introduction of a voluntary early retirement scheme andthe reevaluation of current pension and retirement allowance systems.

1919

%%

OverseasOverseas

++17.817.8146.8146.811.6%11.6%173.0173.013.8%13.8%Asia & OthersAsia & Others++1.11.1608.7608.748.3%48.3%615.4615.449.1%49.1%SubtotalSubtotal

AmountAmountRatioRatioAmountAmountRatioRatio

((0.5)0.5)1,259.71,259.7100.0%100.0%1,252.91,252.9100.0%100.0%Consolidated TotalConsolidated Total

((3.4)3.4)183.8183.814.6%14.6%177.5177.514.2%14.2%EuropeEurope((4.7)4.7)278.1278.122.1%22.1%264.9264.921.1%21.1%The AmericasThe Americas((2.1)2.1)651.0651.051.7%51.7%637.5637.550.9%50.9%DomesticDomestic

ChangeChangeSix months endedSix months ended

Sept. 30, 2003Sept. 30, 2003Six months endedSix months ended

Sept. 30, 2004Sept. 30, 2004

Domestic and Overseas RevenueDomestic and Overseas Revenue

Reference Data 1Reference Data 1

YoYYoY: : --2.1%2.1%

YoYYoY: +17.8%: +17.8%

YoYYoY: : --3.4%3.4% Domestic:Europe:

Asia and Others:

YoYYoY: : --4.7%4.7%The Americas:


2020

Geographic InformationGeographic Information



Revenue Revenue Operating IncomeOperating Income






++22.022.0(20.7)(20.7)

++27.127.1(2.0)(2.0)

122.9122.99.89.88.0%8.0%

150.0150.07.87.85.2%5.2%

Asia and Asia and OthersOthers

((4.7)4.7)0.00.0

((7.1)7.1)0.00.0

151.2151.29.49.46.2%6.2%

144.1144.19.49.46.5%6.5%

EuropeEurope

%%ChangeChange

1,259.71,259.793.793.7

(204.5)(204.5)(2.9)(2.9)

245.5245.59.89.8

944.6944.667.667.6

7.4%7.4%

4.0%4.0%

7.2%7.2%

Six months endedSix months endedSept. 30, 2003Sept. 30, 2003

++2.22.2+16.0+16.0

+20.9+20.9+10.9+10.9

965.5965.578.578.58.1%8.1%

JapanJapan

((6.4)6.4)(30.8)(30.8)

((15.8)15.8)(3.0)(3.0)

229.7229.76.86.83.0%3.0%

The AmericasThe Americas

((0.5)0.5)+8.1+8.1

----

((6.8)6.8)+7.6+7.6

((31.9)31.9)+1.7+1.7

AmountAmount

1,252.91,252.9101.3101.3

((236.4)236.4)(1.2)(1.2)

8.1%8.1%Consolidated Consolidated TotalTotal

EliminationsEliminations

Six months endedSix months endedSept. 30, 2004Sept. 30, 2004

2121

Capital Expenditure, Depreciation, and R&D ExpensesCapital Expenditure, Depreciation, and R&D Expenses


Billions of yenBillions of yenYear ending March Year ending March

20052005

173.3173.36.7%6.7%

124.6124.6172.6172.6

59.459.454.954.958.358.3

160.7160.7

49.149.182.782.728.928.9

180.0180.06.9%6.9%

125.0125.0

--

------

165.0165.0

------

((Estimated)Estimated)

59.159.160.660.6DepreciationDepreciation

Imaging SolutionsImaging SolutionsInformation SolutionsInformation SolutionsDocument SolutionsDocument Solutions

83.683.685.185.1Depreciation and AmortizationDepreciation and Amortization

Imaging SolutionsImaging SolutionsInformation SolutionsInformation SolutionsDocument SolutionsDocument Solutions

76.576.571.271.2Capital ExpenditureCapital Expenditure

85.985.96.8%6.8%

86.386.36.8%6.8%

R&D ExpensesR&D ExpensesRatio of R&D Expenses to RevenueRatio of R&D Expenses to Revenue

6 6 months endedmonths endedSept. 30, 2003Sept. 30, 2003

30.330.327.027.027.827.8

26.126.132.232.212.912.9

6 6 months endedmonths endedSept. 30, 2004Sept. 30, 2004

29.029.027.727.726.926.9

27.327.340.240.2

9.09.0

Year ended March Year ended March 20042004

Note: Figures do not include amounts for rental equipment handleNote: Figures do not include amounts for rental equipment handled by the Document Solutions d by the Document Solutions segment.segment.

((Note)Note)

((Note)Note)

2222

--(0.8)(0.8)(5.7)(5.7)(6.5)(6.5)EliminationsEliminations(7.9)(7.9)(44.6)(44.6)563.4563.4518.8518.8Corporate AssetsCorporate Assets(0.9)(0.9)(26.7)(26.7)3,023.53,023.52,996.82,996.8Consolidated TotalConsolidated Total

ChangeChangeAs ofAs ofMar. 31, 2004Mar. 31, 2004

As ofAs ofSept. 30, 2004Sept. 30, 2004

+18.6+18.6(44.8)(44.8)+14.3+14.3+49.1+49.1

AmountAmount

2,484.42,484.4926.5926.5781.8781.8776.1776.1

2,465.82,465.8971.3971.3767.5767.5727.0727.0

(4.6)(4.6)Document SolutionsDocument Solutions++0.80.8SubtotalSubtotal

+1.9+1.9Information Information SolutionsSolutions+6.8+6.8Imaging SolutionsImaging Solutions

%%

Billions of yenBillions of yenAssetsAssets


2323

74,87074,8709,3599,359



As ofAs ofMar. 31, 2004Mar. 31, 2004

73,16473,1649,3639,363

73,64673,646ConsolidatedConsolidated9,4109,410NonNon--ConsolidatedConsolidated

Exchange RatesExchange Rates


Number of EmployeesNumber of Employees

¥¥132132¥¥108108

22nd nd HH

¥¥130130¥¥108108

Estimat edEstimat ed

22nd nd HH

¥¥132132¥¥113113

11stst HH

¥¥133133¥¥11811822QQ

¥¥132132¥¥109109

Estimat edEstimat ed

11stst HH

¥¥133133¥¥110110

¥¥133133¥¥118118

11QQ

¥¥134134¥¥11011022QQ11QQ

¥¥132132¥¥110110

Year ending March 31, 2005Year ending March 31, 2005

¥¥133133EuroEuro

¥¥119119US$US$

Year ending March 31, 2004Year ending March 31, 2004

As of As of Sept. 30, 2003Sept. 30, 2003

44.2%44.2%

As of As of Mar. 31, 2004Mar. 31, 2004

As of As of Sept. 30, 2004Sept. 30, 2004

44.9%44.9% 44.4%44.4%Shareholder RatioShareholder Ratio

Foreign Shareholder RatioForeign Shareholder Ratio

FUJI PHOTO FILM CO., LTD.IR OFFICE, CORPORATE COMMUNICATIONS DIV.

http://home.fujifilm.com/

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