QUOTE AND NEWS
GenEng News  Mar 29  Comment 
Fujifilm said today it intends to expand its ability to develop and manufacture biopharmaceuticals and regenerative medicine treatments by acquiring a pair of cell culture media businesses owned by Japan-based JXTG Holdings for a combined $800...
Reuters  Mar 2  Comment 
Hedge fund manager Darwin Deason filed a new lawsuit against Xerox Corp on Friday after it refused to allow him to make nominations to its board after a deadline, the latest blows in a row over its proposed merger with Fujifilm Holdings Corp .
Benzinga  Feb 20  Comment 
For a brief moment, it seemed Xerox Corp (NYSE: XRX) might just get away with its Fujifilm merger unopposed. But shareholders Carl Icahn and Darwin Deason, who had earlier pressured Xerox management to explore strategic alternatives, emerged...
TechCrunch  Feb 15  Comment 
 Fujifilm’s mirrorless lineup of X Series cameras has an excellent reputation, especially thanks to their ability to produce great-looking images comparable to full-frame competitors from crop sensors due to their unique image processing. Among...
Channel News Asia  Feb 14  Comment 
NEW YORK: One of Xerox's biggest shareholders filed suit to challenge the US photocopier and printer maker's planned takeover by Japanese technology firm Fujifilm. Darwin Deason who along with Carl Icahn controls 15.2 per cent of Xerox shares,...
Clusterstock  Feb 13  Comment 
Billionaire investor Darwin Deason has sued Xerox to block its proposed merger with Fujifilm. Shares of Xerox sank more than 3% on the news; Fujifilm was also down.  Shares of Xerox plunged as much as 3.35% Tuesday morning after one of...
MarketWatch  Feb 13  Comment 
Shares of Xerox Corp. slumped 2.4% in morning trade Tuesday, after Darwin Deason, who he says is the document management company's third-largest shareholder, sued Xerox and its current board members, Xerox's former Chief Executive Ursula Burns...
CNNMoney.com  Feb 13  Comment 
Activist investor Carl Icahn is urging Xerox shareholders to shred a planned takeover by Japan's Fujifilm.
Financial Times  Feb 12  Comment 
Activist says merger plan undervalues company and disproportionately favours Fuji




 

Based in Tokyo, Fuji Photo Film Company (Fuji Photo) is a leading global producer of photographic imaging products. The company develops, manufactures, and markets traditional and digital imaging products. In addition, Fuji Photo provides services and solutions for consumers, professionals, healthcare providers, and commercial customers. The company's imaging solutions segment, which accounted for 16% of fiscal year 2010 revenue (ending March 2010), focuses on color films, digital cameras, photofinishing equipment, and color paper, chemicals, and services for photofinishing. The company's information solutions segment, which accounted for 41% of fiscal year 2010 revenue, manufactures and markets system devices for graphic arts, medical imaging and information systems, flat panel display materials, and recording media. The company's document solutions segment, which accounted for 43% of fiscal year 2010 revenue, manufactures and markets printers and production systems and provides paper and document services to its customers.[1] Geographically, 48.5% of revenue came from Japan, 16.2% from Europe, 12.3% from the Americas, and 22.9% from Asia and others.[2]

Business Growth

For the fiscal year 2010, Fujifilm's consolidated revenue decreased 10.4% to ¥2.2 trillion from 2009. Despite increased sales of Flat Panel Display (FPD) materials and improvements in the digital camera business, the Imaging Solutions segment experienced a decrease in demand for color films, the information solutions segment had decreased sales in its graphic arts and optical device businesses, and the document solutions experienced lower sales due to lower demand. Overall yen appreciation adversely affected the company.[3]

Key Trends and Forces

Dependency on the Japanese economy

With over half of its revenue deriving from Japan, Fujifilm is highly dependent on Japan's economic condition. Weakness in the Japanese economy may adversely affect its operating results and financial condition, while a strong economy results in increased consumption and higher sales.

Decline of Traditional Film

With the decline of traditional film sales due to the increasing popularity of digital imaging technologies, the company has put a focus on digital technologies. With digital camera sales volume increasing 10%, Fujifilm sold over 9 million digital cameras in 2010. In Japan, over 80% of digital camera demand is replacement demand, and for this reason, Fujifilm has been working to differentiate its cameras through in-house lens development.[4]

Competition

Fujifilm operates in a competitive market with other Japanese and overseas photographic and imaging companies. They include:



References

  1. FUJI 2010 Annual Report Pg. 1
  2. FUJI 2010 Annual Report Pg. 97
  3. FUJI 2010 Annual Report Pg. 44
  4. FUJI 2010 Annual Report Pg. 18
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