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FUJIFILM Holdings Corporation FUJIY reported a second-quarter fiscal 2024 (ended Sept. 30, 2024) net income of ¥49.6 billion compared with ¥59.1 billion in the year-ago quarter.
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Revenues of ¥765.7 billion increased 5.2% year over year. The uptick was primarily driven by strong sales in Imaging and Electronics segments, along with favorable exchange rates.
Segment Details of FUJIY
In June 2024, the company established the Advanced Functional Materials division by integrating its display materials, industrial products and fine chemicals businesses.
In the fiscal second quarter, Healthcare segment revenues was ¥242.9 billion, up 0.6% from the year-ago quarter.
Within Healthcare, Medical Systems revenues rose 1.4% year over year to ¥166.9 billion. Robust sales of endoscopes (especially in Southeast Asia) and IVD systems were the primary drivers. Bio CDMO revenues were down 4.7% to ¥48.1 billion. Life sciences revenues were ¥27.9 billion, up 5.8% year over year.
In the Electronics segment, revenues amounted to ¥108.7 billion, up 31.4% year over year. Semiconductor Materials revenues rose 46.7% year over year to ¥63 billion, driven by the semiconductor market recovery and contributions from the semiconductor process chemicals business acquired from Entegris in October 2023. Advanced Functional Materials revenues soared 14.9% to ¥45.7 billion.
Fujifilm Holdings Corp. Price, Consensus and EPS Surprise
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The Business Innovation Solutions segment’s revenues were ¥287.7 billion, declining 0.7% from the year-ago quarter’s figure. Office solutions revenues decreased 7.2%, whereas Business solutions and Graphic Communications’ revenues moved up 6.6% and 2.8% on a year-over-year basis, respectively.
The Imaging Solutions segment’s revenues were ¥126.5 billion, up 11% from the year-ago quarter’s level. Consumer Imaging and Professional Imaging revenues rose 7.6% and 17% on a year-over-year basis, respectively. This growth was driven by strong sales of instax instant photo systems along with robust sales of the entry-level instax mini 12 (launched in March 2024). Higher sales of digital cameras acted as a catalyst for the Professional Imaging segment.
FUJIY’s Operating Details
In the fiscal second quarter, selling, general and administrative expenses increased 9.4% to ¥199.3 billion. Research and development expenses jumped 1.5% to ¥40.4 billion.
Operating income increased 0.1% year over year to ¥73.4 billion owing to robust sales in electronics and imaging, along with favorable exchange rates that offset the impact of higher one-time costs in healthcare.