I would like to present FUJIFILM Holdings’ financial ... · fiscal year at the timeof consolidating Wako Pure Chemical Industries, Ltd., income before income taxes came to ¥212.8billion,

I would like to present FUJIFILM Holdings’ financial results for the fiscal year ended March 2019.

1

Let me explain the main points for the fiscal year ended March 2019.

I h fi l i i l l i d b 70% d h i fi lIn the fiscal year, operating income largely increased by 70% compared to the previous fiscal year, reaching a record-high.

Major contributions to the record-high figure came from a large increase of operating income in the healthcare business including the medical systems and bio CDMO and in the electronic materials business, and good progress with improvements of profitability and structural reforms in the document business.

In the fourth quarter (3 months), we decided, in the bio CDMO business, to acquire the manufacturing subsidiary of Biogen Inc., a U.S.- based large biopharmaceutical company.The share buyback of up to ¥100.0 billion has been completed.

2

Let’s move on to detailed performance information for the fiscal year ended March 2019.

C lid d l d ¥2 431 5 billi h l l h i fi lConsolidated revenue totaled ¥2,431.5 billion, at the same level as the previous fiscal year.Though sales decreased in the document business due to a reduction in low-profit, low-end printer business, sales increased in the medical systems, bio CDMO, regenerative medicine and electronic materials business.

Operating income increased to ¥209.8 billion, up 70.1% from the previous fiscal year, due to improvements of profitability in each business and a positive impact from structural reformsimprovements of profitability in each business, and a positive impact from structural reforms in the document business.

Despite a profit gained from a stock valuation of about ¥20 billion booked in the previous fiscal year at the time of consolidating Wako Pure Chemical Industries, Ltd., income before income taxes came to ¥212.8 billion, up 7.6% from the previous fiscal year, and net income came to ¥157.1 billion.

Operating income, income before income taxes and net income achieved a record high.

Net income attributable to FUJIFILM Holdings totaled ¥138.1 billion, down 1.8% from the previous fiscal year.

3

Let’s move on to segment specific information.

The Imaging Solutions segment recorded revenue of ¥386.9 billion, up 1.0% year-on-year.Operating income totaled ¥51.1 billion, down 8.4% from the previous fiscal year due to such factors as upfront investments in advertising, promotion and R&D.

The Healthcare & Material Solutions segment recorded revenue of ¥1,039.0 billion, up 3.6% year-on-year.Operating income totaled ¥97.6 billion, up 6.8% from the previous fiscal year due to increased profit in accordance with the revenue growth.

Within the Healthcare & Material Solutions segment, the healthcare business recorded revenue of ¥484.3 billion, up 9.3% year-on-year.O ti i t t l d ¥33 3 billi 67%Operating income totaled ¥33.3 billion, up 67% year-on-year.

The Document Solutions segment recorded revenue of ¥1,005.6 billion, down 4.0% year-on-year, due to such factors as a reduction in low-profit, low-end printer business.Operating income totaled ¥96.4 billion, 11.5 times the level of the previous fiscal year.

4

First, I would like to present the results for our Imaging Solutions segment.

In the photo imaging business, sales were strong for instant photo systems such as the instax series and instax films, and the accumulated sales volume of the instax series totaled 10.02 million units in this fiscal year. The global promotions featuring Taylor Swift as instax’s global partner contributed to strong sales of instant photo systems mainly in Europe and the U.S. In the high-value-added printing business, sales were strong for the Wall Decor services.

In the electronic imaging business, overall revenue increased from the previous fiscal year despite a downward trend in the digital camera market. Sales were strong for FUJIFILM X-T3, launched in September last year, and FUJIFILM X-T30, launched in March this year. FUJIFILM GFX 50R, incorporating a large sensor 1.7 times the size of full-size sensor and launched in November 2018, contributed to sales reflecting good reviews on its ultrahigh image quality and range finder style.

In the optical device business, sales remained solid for various industrial use lenses such as vehicle-mounted lenses. In February this year, Fujifilm announced its entry into the projection equipment market

i h FUJIFILM PROJECTOR Z5000 hi h bi d i l h l i f FUJINON Lwith FUJIFILM PROJECTOR Z5000, which combined optical technologies of FUJINON Lenses, targeting further business growth by the expansion of business fields.

In the Imaging Solutions segment, revenue increased due to solid sales in each business, while operating income decreased due to such factors as advertising, promotion and R&D expenses for next generation products to achieve further sales expansion.

5

Next is our Healthcare & Material Solutions segment.

In the healthcare business field, the medical systems business enjoyed brisk sales in all business fields such as X-ray imaging diagnostics and endoscopes.

In the bio CDMO business, the contract process development and manufacturing business of bio-pharmaceuticals progressed favorably. Expansion of facilities, which has been conducted i l ib d h l isince last year contributed to the sales increase.

In the regenerative medicine business, sales increased due to the consolidation of FUJIFILMIrvine Scientific, a leading company in cell culture media, in June 2018.

As for the highly functional materials business field, in the display materials business, sales of the products related to OLED and touch-panels were solid, in addition to TAC products.

In the electronic materials business, sales were favorable mainly for advanced products of peripheral materials related to photolithography.

In the graphic systems business, sales decreased due to a decline in total demand for graphic arts film and CTP plates. In March 2019, Fujifilm launched Jet Press750S, an inkjet digital press. Fujifilm continues to develop and provide innovative products to the rapidly digitalized commercial printing market for business expansiondigitalized commercial printing market for business expansion.

In the Healthcare & Material Solutions segment, revenue increased due to strong sales in the medical systems, bio CDMO, regenerative medicine and electronic materials business. Operating income increased primarily by improvements of profitability in each business.

6

Lastly, I would like to talk about the Document Solutions segment.

First, as for the office products business within the office products and printers business, the sales of the ApeosPort-VII C series consisting of color multifunction devices with enhanced security functions, launched in December 2018, were solid in Japan and Asia.In the office printer business, the sales volume decreased by reducing business of low-profit, low-end printers.

In the production services business sales were strong for an on-demand production color printerIn the production services business, sales were strong for an on-demand production color printer called the Iridesse™ Production Press mainly in the U.S. and Europe. In January 2019, Fuji Xerox announced the launch of 11000 Inkjet Press, a high-speed roll color inkjet printer for commercial printing with image quality comparable to that of offset printing. Its sales started in February 2019 in Japan, with an aim for further expanding the digitalization of commercial printing.

In the solutions and services business, the sales of BPO (Business Process Outsourcing) contracts and business- and operation-specific solutions showed steady growth With the new value creationand business- and operation-specific solutions showed steady growth. With the new value creation strategy called Smart Work Innovation, we aim for further growth in the service field by continuously providing services that support our customers in improvements of work efficiency and productivity.

Though revenue in the Document Solutions segment declined mainly due to a reduction in some low-profit, low-end printer business, operating income largely increased by such factors as improvements in profitability and a positive impact from structural reforms.

7

We will continue our efforts to expand growth areas such as the solutions and services business and the production services business, while enhancing profitability by accomplishing structural reforms.

Next, let’s look at our balance sheet.

Assets as of the end of March 2019 totaled ¥3,414.7 billion, down by ¥78.2 billion from the end of March 2018, mainly due to a decrease in cash and cash equivalents.

Liabilities decreased by ¥24.4 billion to ¥1,169.8 billion, and shareholders’ equity d d b ¥42 1 billi l ¥2 037 0 billidecreased by ¥42.1 billion to total ¥2,037.0 billion.

The current ratio decreased by 33.6 percentage points to 246.5%. Our debt-equity ratio remained at 57.4%, and our shareholders’ equity ratio increased by 0.2 percentage points to 59.7%.

8

Next, with regard to our cash-flow, net cash provided by operating activities totaled ¥249.3 billion.

Net cash used in investing activities amounted to ¥208.6 billion, mainly due to the acquisition of Irvine Scientific Sales Company and IS JAPAN.

As a result, free cash flow without acquisitions of businesses and others was ¥149.4 billion.

9

Let me talk about our initiatives for structural reforms of Fuji Xerox, a consolidated subsidiary.

10

As for our initiatives for structural reforms of Fuji Xerox, announced on January 31 last year, one-time expenses including structural reform costs in the fiscal year ended March 2019 totaled ¥16.1 billion as some measures were carried over to the fiscal year ending March 2020 onwards.

A positive impact from the structural reforms was ¥31.0 billion, as contributions from some measures realized ahead of the schedule.

C id i h l i h fi l d d M h 2019 i d h lConsidering the results in the fiscal year ended March 2019, we revised the plan of the fiscal year ending March 2020 onwards.

In the fiscal year ending March 2020, one-time expenses including structural reform costs and others are expected to be ¥10.0 billion, and its positive impact is expected to be ¥18.0 billion, adding up to ¥49.0 billion.

In the fiscal year ending March 2021, one-time expenses including structural reform costs and others are expected to be ¥2 0 billion and a positive impact ofreform costs and others are expected to be ¥2.0 billion, and a positive impact of ¥6.0 billon, to realize the initially planned positive impact of ¥55.0 billion.

By executing structural reforms, we aim to establish a business base where sustainable growth can be realized by reducing expenses and maintaining profitability and productivity to withstand market changes and competition, while reinvesting in new growth areas.

11

12

Let me explain the main points of the forecast for the fiscal year ending March 2020.

In the fiscal year ending March 2020, we are planning to increase revenue and largely increase the operating profit to reach a record high operating income.We revised the operating income target, adding ¥10.0 billion.In healthcare, we revised the figure of the medium-term management plan from ¥40.0 billion to ¥44.0 billion.In document, we are planning to achieve the operating margin target of 10% a year ahead of the schedule from the fiscal year ending March 2021ahead of the schedule from the fiscal year ending March 2021.

Regarding ROE, we revised the figure of the medium-term management plan from 7.3% to 7.5%.

As for shareholder returns, we are planning annual dividend of ¥95/share and ¥50.0 billion of share buyback, as already announced.

13

The expected revenue for the fiscal year ending March 2020 is ¥2,480.0 billion, up 2.0% from the previous fiscal year. y

The expected operating income is ¥240.0 billion, up 14.4% year-on-year.

The income before income taxes is expected to increase by 15.2% to ¥245.0 billion, net income attributable to FUJIFILM Holdings is expected to increase by 12.2% to ¥155.0 billion.

14

These figures represent our projected revenue and operating income, broken down by segment.

The Imaging Solutions segment is projected to achieve revenue of ¥400.0 billion, up 3.4% year-on-year.Its operating income is projected to be ¥53.0 billion, up 3.7% year-on-year.

Th H lth & M t i l S l ti t i j t d t hi fThe Healthcare & Material Solutions segment is projected to achieve revenue of ¥1,070.0 billion, up 3.0% year-on-year.Its operating income is projected to be ¥109.0 billion, up 11.7% year-on-year.

Within the Healthcare & Material Solutions segment, the healthcare business is projected to achieve revenue of ¥510.0 billion, up 5.3% year-on-year.Its operating income is projected to be ¥44 0 billion up 32 1% year-on-yearIts operating income is projected to be ¥44.0 billion, up 32.1% year on year.

The Document Solutions segment is projected to achieve revenue of ¥1,010.0 billion, up 0.4% year-on-year.

Its operating income is projected to be ¥119.0 billion, up 23.4% year-on-year.

15

Finally, let me talk about shareholder returns.

The annual dividend for the fiscal year ended March 2019 is expected to be ¥80 per share, which is an increase of ¥5 from the previous fiscal year.

The annual dividend for the fiscal year ending March 2020 is expected to be ¥95 per share, an increase of ¥15 from the previous fiscal year to deliver dividend increases for 10 consecutive years.

16

Earnings for FY2019/3

AppendixAppendix

17

FY2019/3 AppendixFY2019/3 Appendix

Analysis of Operating Income ChangeAnalysis of Operating Income Change(Full year, against FY2018/3) (Full year, against FY2018/3)

(Billions of yen)

200.0

+67.0175.0

209.8+31.0

-16.1

-8.5-1.2

150.0

-3.1+9.9

+7.5

125.0

123.3

100.0FY2018/3

After Imaging Healthcare

&Document Structural

reformStructural

reformFX Raw

material FY2018/3One-time

FY2019/30

amendment Material positiveimpact

expenses price expenses and others

18


Analysis of Operating Income ChangeAnalysis of Operating Income Change

215.0

(Full year, against FY2019/3 business forecast) (Full year, against FY2019/3 business forecast)

(Billions of yen)

+4.0 -2.5 +3.7-0.3

215.0

+8.9

+4.0205.0

209.8

-9.1

+1.2+3.9195.0

200.0185.0

175.0FY2019/3 Imaging Healthcare Document Structural Structural FX Raw Others FY2019/3

0FY2019/3 forecast

Imaging Healthcare &

Material

Document Structural reform

expenses

Structural reformpositiveimpact

FX Rawmaterial

price

Others FY2019/3

19


Earnings forEarnings for FY2019/3 4Q/Full YearFY2019/3 4Q/Full YearEarnings for Earnings for FY2019/3 4Q/Full YearFY2019/3 4Q/Full Year

(Billions of yen)(Billions of yen)

FY2018/3(After

d t)FY2019/3 Change

FY2018/3(After

d t)FY2019/3 Change

4Q Full Year

amendment) amendment)

623.7 631.7 8.0 2,433.4 2,431.5 (1.9)100.0% 100.0% +1.3% 100.0% 100.0% -0.1%

0 1 51 5 51 4 123 3 209 8 86 5

Revenue

0.1 51.5 51.4 123.3 209.8 86.50.0% 8.1% - 5.1% 8.6% +70.1%

23.3 58.2 34.9 197.8 212.8 15.03.7% 9.2% 2.5 times 8.1% 8.8% +7.6%

Income before Income Taxes

Operating Income

10.3 42.7 32.4 144.2 157.1 12.91.7% 6.8% 4.1 times 5.9% 6.5% +8.9%

16 2 37 0 20 8 140 7 138 1 (2 6)Net Income Attributable to

Net Income

16.2 37.0 20.8 140.7 138.1 (2.6)2.6% 5.9% 2.3 times 5.8% 5.7% -1.8%

¥108 ¥110 ¥2 ¥111 ¥111 - ¥133 ¥125 (¥8) ¥130 ¥128 (¥2)

Exchange US$/￥Rates 　　 €/¥

Net Income Attributable toFUJIFILM Holdings

20

〈Other factors of change (4Q/full year YoY) 〉 Operating income --- Raw material prices: - ¥0.1 billion / - ¥1.2 billion


Earnings forEarnings for FY2019/3 4Q/Full YearFY2019/3 4Q/Full YearEarnings for Earnings for FY2019/3 4Q/Full YearFY2019/3 4Q/Full Year(Billions of yen)

Revenue4Q Full Year

FY2018/3 FY2019/3 FY2018/3 FY2019/3

85.3 83.1 (2.2) (-2.5%) 383.0 386.9 3.9 (+1.0%)

Healthcare 133.9 141.4 7.5 (+5.6%) 443.0 484.3 41.3 (+9.3%)

Revenue

Imaging Solutions

Change Change

274.3 280.1 5.8 (+2.1%) 1,002.6 1,039.0 36.4 (+3.6%)

264.1 268.5 4.4 (+1.7%) 1,047.8 1,005.6 (42.2) (-4.0%)

623.7 631.7 8.0 (+1.3%) 2,433.4 2,431.5 (1.9) (-0.1%)

Document Solutions

Total

Healthcare & MaterialSolutions

(Billions of yen)

FY2018/3(After FY2019/3

FY2018/3(After FY2019/3

4Q

Note: After elimination of intersegment transactions

Operating Income[Operating Margin] ChangeChange

Full Year

amendment) amendment)

5.9 3.1 55.8 51.1[6.9%] [3.7%] [14.6%] [13.2%]

13.3 15.9 19.7 33.3[10 0%] [11 1%] [4 5%] [6 8%]

Healthcare

Imaging Solutions (-47.5%)

13.6(+17.9%) (+67.0%)

(-8.4%)(2.8) (4.7)

2.6[10.0%] [11.1%] [4.5%] [6.8%]

31.6 27.6 91.4 97.6[11.5%] [9.9%] [9.1%] [9.4%]

(28.3) 29.5 8.4 96.4- [11.0%] [0.8%] [9.6%]

(4.0)

Document Solutions 57.8


(+6.8%)(-12.7%) 6.2

88.0- (11.5 times)

21

(9.1) (8.7) 0.4 - (32.3) (35.3) (3.0) -

0.1 51.5 123.3 209.8[0.0%] [8.1%] [5.1%] [8.6%]

51.4 -

Corporate Expenses &Eliminations

Total 86.5 (+70.1%)


Earnings forEarnings for FY2019/3 4Q/Full YearFY2019/3 4Q/Full Year

Imaging SolutionsImaging Solutions

Earnings for Earnings for FY2019/3 4Q/Full YearFY2019/3 4Q/Full Year

g gg g(Billions of yen)

RevenueFY2018/3 FY2019/3

Full Year4Q

FY2019/3 ChangeChange FY2018/3

Photo Imaging 54.6 53.8 (0.8) (-1.4%) 0.1 (+0.3%) 255.4 257.5 2.1 (+0.9%) 4.8 (+1.9%)

Electronic Imaging 20.5 19.9 (0.6) (-3.0%) (0.1) (-0.6%) 88.8 90.6 1.8 (+2.0%) 3.1 (+3.4%)

O ti l D i 10 2 9 4 (0 8) ( 7 8%) (0 8) ( 7 5%) 38 8 38 8 0 0 (+0 0%) 0 1 (+0 2%)

FY2018/3 FY2019/3Constant-currency

basis

FY2019/3 ChangeConstant-currency

basis

Change FY2018/3

Optical Devices 10.2 9.4 (0.8) (-7.8%) (0.8) (-7.5%) 38.8 38.8 0.0 (+0.0%) 0.1 (+0.2%)

Optical Device &Electronic Imaging

Products30.7 29.3 (1.4) (-4.6%) (0.9) (-2.9%) 127.6 129.4 1.8 (+1.4%) 3.2 (+2.5%)

85.3 83.1 (2.2) (-2.5%) (0.8) (-0.9%) 383.0 386.9 3.9 (+1.0%) 8.0 (+2.1%)Total 85 3 83 ( ) ( ) (0 8) ( ) 383 0 386 9 3 9 ( ) 8 0 ( )


(Billions of yen)

FY2018/3Operating Income[O ti M i ]

FY2018/3

Full Year4Q

5.9 3.1 55.8 51.1[6.9%] [3.7%] [14.6%] [13.2%]

Constant-currencybasis

(Afteramendment)

FY2019/3

(2.7) (-4.8%)(4.7) (-8.4%)Imaging Solutions

[Operating Margin] (Afteramendment)

FY2019/3 Change Constant-currencybasis

(1.9) (-32.2%)

Change

(-47.5%)(2.8)

22

Change in Quarterly Earnings byChange in Quarterly Earnings by SegmentSegment


Change in Quarterly Earnings by Change in Quarterly Earnings by Segment Segment

Imaging SolutionsImaging Solutions (Billions of yen)

127.9 40.0125.0

Imaging SolutionsImaging Solutions (Billions of yen)

Revenue Operating Income

85 387.9 88.0

30.0100.0

Photo Imaging

90.8

85.387.9 88.0

83.126.4

20.0

75.0(20.6%)

g g

ElectronicImaging Optical Device &

Electronic Imaging 54.6 55.8 57.1

53.8

12.2 9 4

20.0

50.0

Operating Income for Imaging Solutions(O ti M i )

Optical Devices

Products

20.5 22.8 21.326.6

19.95.9

9.4

3 1

10.0

25.0

(6.9%)

(13.9%)(10.7%)

(Operating Margin)

10.2 9.3 9.6 10.5 9.43.1

0.00.0

17.4Q 18.1Q 18.2Q 18.3Q 18.4Q

(3.7%)

23



Healthcare & Material SolutionsHealthcare & Material Solutions


(Billions of yen)

133 9 141 4 7 5 ( 5 6%) 9 5 ( 7 1%) 443 0 484 3 41 3 ( 9 3%) 45 7 ( 10 3%)

Full Year

RevenueFY2018/3 Change

H lth

4Q

ChangeConstant-currency basis Constant-currency basis

FY2019/3FY2019/3 FY2018/3

133.9 141.4 7.5 (+5.6%) 9.5 (+7.1%) 443.0 484.3 41.3 (+9.3%) 45.7 (+10.3%)

Display Materials 21.3 21.2 (0.1) (-0.2%) (0.1) (-0.2%) 94.4 98.2 3.8 (+4.1%) 3.8 (+4.1%)

Industrial ProductsElectronic Materials

Fine Chemical44.6 45.4 0.8 (+1.8%) 0.7 (+1.5%) 173.0 179.8 6.8 (+3.9%) 7.0 (+4.0%)

Highly FunctionalM t i l 65.9 66.6 0.7 (+1.1%) 0.6 (+1.0%) 267.4 278.0 10.6 (+4.0%) 10.8 (+4.0%)

Healthcare

Materials 65.9 66.6 0.7 ( 1.1%) 0.6 ( 1.0%) 267.4 278.0 10.6 ( 4.0%) 10.8 ( 4.0%)

10.0 11.6 1.6 (+15.3%) 1.5 (+14.5%) 40.4 38.8 (1.6) (-4.0%) (1.5) (-3.8%)

64.2 60.3 (3.9) (-6.1%) (3.3) (-5.3%) 250.9 236.7 (14.2) (-5.6%) (12.6) (-5.0%)

0.3 0.2 (0.1) 0.0 0.9 1.2 0.3 0.3

274.3 280.1 5.8 (+2.1%) 8.3 (+3.0%) 1,002.6 1,039.0 36.4 (+3.6%) 42.7 (+4.3%)

Recording Media

Others

Total

Graphic Systems/Inkjet


(Billions of yen)

Full YearOperating Income[Operating Margin]

FY2018/3(After

d t) Constant-currency basisFY2019/3 Change Change

4Q

Constant-currency basis

FY2018/3(After

d t)FY2019/3

13.3 15.9 19.7 33.3[10.0%] [11.1%] [4.5%] [6.8%]

31.6 27.6 91.4 97.6[11.5%] [9.9%] [9.1%] [9.4%]

Healthcare & MaterialSolutions (4.0)

2.6

amendment)

Healthcare

Constant currency basis

(-12.7%)

(+17.9%) 3.6 (+25.4%)

(3.4) (-10.8%)

(+67.0%)

Constant currency basis

15.6 (+77.1%)

amendment)

13.6

6.2 (+6.8%) 8.3 (+9.1%)

24



Healthcare & Material SolutionsHealthcare & Material Solutions


(Billions of yen)


274.3263 1

280.140.0300.0

Display Materials

Healthcare

133.9

235.9

263.1 259.9

31.6 32.5

2 630.0

250.0

(11.5%) (12.5%)

Recording Media

Industrial ProductsElectronic MaterialsFine Chemical

101.8

121.6 119.5141.4 27.6

20 0150 0

200.0(9.9%)

Graphic SystemsInkjet

Recording Media

Oth44.6

43.6 44.1 46.7 45.4

21.323.0 27.7 26.3 21.2

18.1 19.420.0

100.0

150.0

(7.7%) (7.4%)

Operating Income for Healthcare & Material

Others

64.2 57.9 60.7 57.8 60.3

10.09.3 8.7 9.2 11.6

10.0

50.0

25

Solutions(Operating Margin)0.00.0

17.4Q 18.1Q 18.2Q 18.3Q 18.4Q



Document SolutionsDocument Solutions


(Billions of yen)

Full Year4Q

Change FY2018/3 FY2019/3 ChangeFY2018/3 FY2019/3Revenue

Office Printers 39.3 32.3 (7.0) (-17.9%) (6.6) (-16.8%) 151.3 126.5 (24.8) (-16.4%) (23.5) (-15.5%)

153.4 143.5 (9.9) (-6.5%) (7.8) (-5.1%) 610.0 569.1 (40.9) (-6.7%) (36.1) (-5.9%)

Constant-currency basisChangeConstant-currency basis

FY2018/3 FY2019/3 ChangeFY2018/3 FY2019/3

Office Products & Printers

32.9 32.6 (0.3) (-0.9%) 0.3 (+0.9%) 131.0 123.3 (7.7) (-5.9%) (6.4) (-4.9%)

64.9 76.9 12.0 (+18.5%) 13.3 (+20.6%) 256.2 261.2 5.0 (+1.9%) 7.9 (+3.1%)

12.9 15.5 2.6 3.0 50.6 52.0 1.4 2.3

Production Services

Solutions & Services

Others

264.1 268.5 4.4 (+1.7%) 8.8 (+3.3%) 1,047.8 1,005.6 (42.2) (-4.0%) (32.3) (-3.1%)


(Billions of yen)

Full YearOperating Income FY2018/3

4Q

FY2018/3

Total

-28.3 29.5 8.4 96.4- [11.0%] [0.8%] [9.6%]

Operating Income[Operating Margin]

Document Solutions 60.7 --57.8

FY2018/3(After

amendment)FY2019/3 Change

Constant-currency basis

92.4 (12.0 times)88.0 (11.5 times)

Constant-currency basisChange

FY2018/3(After

amendment)FY2019/3

26



Document SolutionsDocument Solutions (Billions of yen)



50.0300.0

Office Products & Office Printers

264.1

241.1256.7

239.3

268.5

28.423 6

29.530.0

50.0

( ) (11 0%) Office Products & Office Printers

Production Services


153.4139.7

146.6139.3

143.514.9

23.6

10.0

200.0

(6.2%)

(11.0%)(9.9%)

(11.0%)


Operating Income for Doc ment Sol tions

Others32.929.2 32.4

29.1

32.6-10.0

100.0

Operating Income for Document Solutions(Operating Margin)

64.9 57.9 66.4 60.076.9

-28.3

-50.0

-30.0

0.0

-

27

50.00.017.4Q 18.1Q 18.2Q 18.3Q 18.4Q

RevenueRevenue by Destinationby Destination


(Billions of yen)

Revenue Revenue by Destinationby Destination

Ratio (%) Ratio (%)

FY2019/3 Change

FY2018/3

41.4% 1,006.5 41.4% 1,006.5 0.0 (+0.0%)

19.0% 462.8 19.1% 463.4 0.6 (+0.1%)

Japan

The Americas

13.0% 315.3 13.0% 315.7 0.4 (+0.1%)

China 12.2% 296.1 12.2% 296.5 0.4 (+0.1%)

Europe

Asia and others 26.6% 648.8 26.5% 645.9 (2.9) (-0.5%)

Overseas 58.6% 1,426.9 58.6% 1,425.0 (1.9) (-0.1%)58.6% 1,426.9 58.6% 1,425.0 (1.9) ( 0.1%)

100.0% 2,433.4 100.0% 2,431.5 (1.9) (-0.1%)Consolidated total

28

CapitalCapital ExpenditureExpenditure Depreciation & AmortizationDepreciation & Amortization


71.875.4

Capital Capital Expenditure, Expenditure, Depreciation & AmortizationDepreciation & AmortizationCapital Expenditure (Full Year)

(Billions of yen)

40.1 50 5

10.39.4

10.667.5 (Billions of yen)

4Q

FY2017/3

FY2018/3

FY2019/3

FY2017/3

FY2018/3

FY2019/3

FY2020/3(forecast)

Imaging 2 9 3 2 3 9 10 3 9 4 10 6

Full year

20.013.8 11.7

42.750.5 Imaging 2.9 3.2 3.9 10.3 9.4 10.6

Healthcare & Material 15.4 15.4 20.5 40.1 42.7 50.5Document 5.1 1.9 3.8 20.0 13.8 11.7Corporate 0.5 0.7 0.7 1.4 1.6 2.6

127.6 129.9

FY2017/3

FY2018/3

FY2019/3

Depreciation & Amortization (Full Year)

Capex * 23.9 21.2 28.9 71.8 67.5 75.4 90.0Imaging 2.3 3.5 3.5 11.1 13.3 14.1Healthcare & Material 11.4 14.7 17.5 49.1 57.5 63.1Document 13.9 13.8 12.4 55.3 54.7 50.1

49.1 57.5 63.1

11.113.3 14.1117.6

3 9 3 8 55 3 5 50Corporate 0.5 0.3 0.9 2.1 2.1 2.6

28.1 32.3 34.3 117.6 127.6 129.9 128.0

15 2 17 1 20 0 58 9 66 5 70 9Depreciation *

Depreciation& Amortization

55.3 54.7 50.1

*Note : Figures do not include amounts for rental equipmenthandled by the Document Solutions segment and others.Imaging

Healthcare & Material

15.2 17.1 20.0 58.9 66.5 70.9 Depreciation

FY2017/3

FY2018/3

FY2019/3

29

DocumentCorporate

Healthcare & Material

R&D Expenses SG&A ExpensesR&D Expenses SG&A Expenses


R&D Expenses, SG&A ExpensesR&D Expenses, SG&A Expenses

(Billions of yen)

FY2020/3

　 4Q Full YearR&D Expenses (Full Year)

167.9FY2018/3 FY2019/3 FY2018/3 FY2019/3

FY2020/3(forecast)

Imaging 2.6 2.7 9.0 9.9

Healthcare & Material 18.9 18.9 70.0 69.870.0

9.0 9.9

167.9 156.1

Document 21.4 12.0 63.5 51.2

Corporate 7.0 6.7 25.4 25.2

R&D Expenses 49.9 40.3 167.9 156.1 155.063 5

69.8

　R&D Expenses 49.9 40.3 167.9 156.1 155.0

8.0% 6.4% 6.9% 6.4% 6.3%

191.1 151.3 677.8 631.6

　<ratio to revenue>

　SG&A Expenses25.4 25.2

63.5 51.2

30.7% 24.0% 27.8% 26.0% <ratio to revenue>

ImagingHealthcare & Material

FY2018/3 FY2019/3

30

DocumentCorporate

ExchangeExchange RatesRates Raw Material Prices and Number of EmployeesRaw Material Prices and Number of Employees


Exchange Exchange Rates, Rates, Raw Material Prices, and Number of EmployeesRaw Material Prices, and Number of Employees

Exchange Rates ( )Exchange Rates (yen)

1Q 2Q 3Q 4Q Full year 1Q 2Q 3Q 4Q Full year

US$/¥ 111 111 113 108 111 109 111 113 110 111

FY2019/3FY2018/3

US$/¥ 111 111 113 108 111 109 111 113 110 111

€/¥ 122 130 133 133 130 130 130 129 125 128

Raw Material Prices　(Average) (¥1,000/kg)

1Q 2Q 3Q 4Q Full year 1Q 2Q 3Q 4Q Full year

FY2019/3FY2018/3

Silver 63 60 61 58 61 58 54 53 55 55

Number of EmployeesNumber of Employees2018.Mar 2018.Jun 2018.Sep 2018.Dec 2019.Mar

77,739 77,060 75,329 74,425 72,332Consolidated Total

31

Forecast for Forecast for FY2020/3FY2020/3

Consolidated Financial Forecast for Consolidated Financial Forecast for FY2020/3FY2020/3(as of (as of May 8, 2019)May 8, 2019)

(Billions of yen)(Billions of yen)

FY2020/32H

FY2020/3FY2020/3

1H

1,170.0 1,310.0 2,480.0100.0% 100.0% 100.0%

93 0 147 0 240 0

Revenue

93.0 147.0 240.07.9% 11.2% 9.7%

95.0 150.0 245.0

Operating Income

Income beforeIncome Taxes

8.1% 11.5% 9.9%

58.0 97.0 155.05.0% 7.4% 6.3%

Income Taxes

Net IncomeAttributable to

FUJIFILM Holdings

32


Amendment to FY2018/3 Financial Results (Operating Income) Amendment to FY2018/3 Financial Results (Operating Income) Accompanying the Change in Accounting MethodAccompanying the Change in Accounting Method

(Billions of yen)

FY 2018/3 (Before amendment)

1Q 2Q 3Q 4QFullYear

12.6 11.3 26.1 6.0 56.0

Healthcare (0 8) 2 7 5 5 13 3 20 7

Imaging Solutions

Operating Income

Healthcare (0.8) 2.7 5.5 13.3 20.7

18.9 19.1 23.2 31.6 92.8

11.7 17.4 11.4 (26.5) 14.0

Corporate Expenses &


Document Solutions

(Billions of yen)

FY 2018/3 (After amendment)

(7.4) (7.7) (8.0) (9.0) (32.1)

35.8 40.1 52.7 2.1 130.7


Total

1Q Change 2Q Change 3Q Change 4Q ChangeFullYear

Change

12.5 (0.1) 11.3 0.0 26.1 0.0 5.9 (0.1) 55.8 (0.2)

Healthcare (1 2) (0 4) 2 4 (0 3) 5 2 (0 3) 13 3 0 0 19 7 (1 0)

Imaging Solutions

Operating Income

Healthcare (1.2) (0.4) 2.4 (0.3) 5.2 (0.3) 13.3 0.0 19.7 (1.0)

18.5 (0.4) 18.6 (0.5) 22.7 (0.5) 31.6 0.0 91.4 (1.4)

10.4 (1.3) 16.2 (1.2) 10.1 (1.3) (28.3) (1.8) 8.4 (5.6)


Document Solutions

33

(7.3) 0.1 (7.9) (0.2) (8.0) 0.0 (9.1) (0.1) (32.3) (0.2)

34.1 (1.7) 38.2 (1.9) 50.9 (1.8) 0.1 (2.0) 123.3 (7.4)


Total

PipelinePipeline (as of May 8 2019)(as of May 8 2019)


Development code

Therapeutic category Formulation Region Development stage

Pipeline Pipeline (as of May 8, 2019)(as of May 8, 2019)

T-705Anti-influenza drug Oral

Japan Approved

U.S.A. PⅢ

Severe fever with thrombocytopenia syndrome virus drug Oral Japan PⅢ

3811 QT-3811 Quinolone synthetic antibacterial drug Oral China Submitted an application for permission

T-2307 Antifungal drug Injection U.S.A. PⅠ

T-817MA Alzheimer's disease drug OralU.S.A. PⅡ

Japan PⅡ

T-4288 New fluoroketolide antibacterial drug Oral Japan Submitted an application for permission

FF-10501 Myelodysplastic syndrome drug OralJapan PⅠ

U.S.A. PⅡ

FF-10502 Advanced/recurrent solid cancer drug Injection U.S.A. PⅡ

FF 21101FF-21101 Advanced/recurrent solid cancer drug (Armed antibody) Injection U.S.A. PⅡ

F-1311 Diagnostic drug for prostate cancer (Radiopharmaceuticals) Injection Japan PⅡ

FF-10101 Acute Myeloid Leukemia (AML) drug Oral U.S.A. PⅠ

F 1515 Anti tumor (neuroendocrine tumors) drug (Radiopharmaceuticals) injection Japan PⅠ/Ⅱ

Bio

F-1515 Anti-tumor (neuroendocrine tumors) drug (Radiopharmaceuticals) injection Japan PⅠ/Ⅱ

FF-10832 Advanced solid cancer drug (Gemcitabine liposome） Injection U.S.A. PⅠ

F-1614 Anti-tumor (pheochromocytoma) drug (Radiopharmaceuticals) Injection Japan PⅡ

34343434

Note: FKB327 (a biosimilar of adalimumab) of FUJIFILM KYOWA KIRIN Biologics (FKB), an equity method affiliated company, was launched in EU (partnership with Mylan)

and NDA is in preparation for other countries.

FKB238 (a biosimilar of bevacizumab) of JV between FKB and AstraZeneca is under phase Ⅲclinical trial in U.S.A., Europe and others.

AppendixAppendix


AppendixAppendix

FUJIFILM HoldingsFUJIFILM Holdings －－ Investor RelationsInvestor RelationsFUJIFILM Holdings FUJIFILM Holdings Investor RelationsInvestor Relationshttp://www.fujifilmholdings.com/en/investors/index.html

FUJIFILM HoldingsFUJIFILM Holdings IntegratedIntegrated ReportReport 20182018

IR Events MaterialsIR Events Materials

FUJIFILM Holdings FUJIFILM Holdings Integrated Integrated Report Report 20182018http://www.fujifilmholdings.com/en/investors/ir_library/integrated_reports/index.html

IR Events MaterialsIR Events Materialshttp://www.fujifilmholdings.com/en/investors/ir_events/business_presentations/index.html

・ Business presentation materials- Mar. 2018 Business Presentation for Imaging Solutions Business

What Kind of Company is Fujifilm?What Kind of Company is Fujifilm?

- Jan. 2019 Business Presentation for Pharmaceuticals/Bio CDMO/Regenerative Medicine Business- Feb. 2019 ESG Briefing

35

What Kind of Company is Fujifilm?What Kind of Company is Fujifilm?http://www.fujifilmholdings.com/en/investors/guidance/index.html

Global Branding Campaign: NEVER STOPGlobal Branding Campaign: NEVER STOPGlobal Branding Campaign: NEVER STOPGlobal Branding Campaign: NEVER STOPhttps://brand.fujifilm.com/neverstop/en/

At F jifil ti l i ti tiAt Fujifilm, we are continuously innovating — creatingnew technologies, products and services that inspire

and excite people everywhere.Our goal is to empower the potential and expand

the horizons of tomorrow’s businesses and lifestyles.

Corporate Communication Office, Corporate Planning Div.

http://www.fujifilmholdings.com/en/index.html

Documents

I would like to present FUJIFILM Holdings’ financial ... · fiscal year at the timeof consolidating Wako Pure Chemical Industries, Ltd., income before income taxes came to ¥212.8billion,