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Fujifilm posts lower fiscal Q1 net income as costs rise

Fujifilm Holdings Corp. reported a 35.3% year-over-year decline in net income attributable to the company during the first fiscal quarter of 2019 ended June 30, 2018.

Fujifilm Holdings reported net income of ?¥28.3 billion, or ?¥65.83 per share, down from ?¥43.8 billion, or ?¥100.06 per share on an amended basis.

The amendments were made retroactively in line with the update in U.S. accounting standards including changes in classification of presentation of net periodic pension cost and net periodic postretirement benefit cost.

The revenues for the quarter decreased 1.2% to ?¥564.9 billion, from ?¥571.5 billion in the prior-year quarter. The revenues in the imaging solutions and healthcare were higher while numbers from document solutions lowered from the year-ago period.

The operating income edged up to ?¥36.9 billion from ?¥34.1 billion in the year-ago quarter. Income before income taxes dropped to ?¥45.8 billion from ?¥57.6 billion in the prior year period.

For the full year 2019, the company expects a net income attributable to Fujifilm Holdings to clock at ?¥130.0 billion, or ?¥302.16 per share. The revenue is expected to be at ?¥2.510 trillion.

As of Aug. 9, US$1 was equivalent to ¥110.94.