Annual Report 2010 Download Entire Report
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FUJIFILM Holdings Corporation For further information, please contact: Annual Report 2010 IR Office, Corporate Planning Div. FUJIFILM Holdings Corporation 7-3, Akasaka 9-Chome, Minato-ku, Tokyo 107-0052, Japan Tel: 81-3-6271-1111 URL: http://www.fujifilmholdings.com/ Annual Report 2010 The body of this report is printed on FSC-certified paper. Printed in Japan Corporate Information Corporate Information FUJIFILM Holdings Corporation Fujifilm Group Corporate Philosophy 7-3, Akasaka 9-chome, We will use leading-edge, proprietary technologies to provide top-quality products and Minato-ku, Tokyo 107-0052, Japan Tel: 81-3-6271-1111 services that contribute to the advancement of culture, science, technology and industry, URL: http://www.fujifilmholdings.com/ as well as improved health and environmental protection in society. Our overarching aim is to help enhance the quality of life of people worldwide. Date of Establishment: January 20, 1934 Stock Exchange Listings: Tokyo, Osaka, Nagoya Capital: ¥40,363 million (as of March 31, 2010) Share Registrar Fuji Photo Film Co., Ltd. (“Fuji Photo”)—predecessor of Treasury The Chuo Mitsui Trust and Banking Company, Limited Stock FUJIFILM Holdings Corporation (“Fujifilm” or “the Fiscal Year-end: March25,978 31 33-1, Shiba 3-chome, Minato-ku, Tokyo 105-8574, Japan Company”)—was established in 1934 with the aim of realiz- 5.1% Number of employees (Persons): 74,216 (as of March 31, 2010)Financial ing the domestic production of photographic films. Having Institutions 206,906 carried out sustained efforts in this area over the ensuing 10 Foreign 40.2% Independent CorporationsAuditors: Ernst & Young ShinNihon LLC years, the Company finally established an integrated produc- 208,294 tion structure and achieved domestic production of photo- 40.5% graphic films, motion-picture films and X-ray films, thereby Securities Distribution of Shareholders and Shares (As of March 31, 2010)CompaniesMajor Shareholders (As of March 31, 2010) solidifying its position as a comprehensive photographic 8,323 Individuals Other 1.6% Percentage of and Others materials manufacturer. In the 1940s, Fuji Photo entered the National and Regional Corporations Name issued shares (%) Number of Shareholders:42,743 52,054 Governmental Organizations 22,317 business fields of optical glasses, lenses and equipment. 8.3% Japan Trustee Services Bank, Ltd. (trust account) 6.9 Contents Number of Shares Outstanding65 (In thousands): 514,6264.3% After the Second World War, the Company promoted diversi- 0.0% The Master Trust Bank of Japan, Ltd. (trust account) 6.5 fication, penetrating the medical (X-ray diagnosis), printing, 1 Fujifilm Group in Brief Treasury Nippon Life Insurance Company 3.9 Stock Japan Trustee Services Bank, Ltd. (trust account 9) 2.6 electronic imaging and magnetic materials fields. In 1962, Fuji 25,978 5.1% The Chuo Mitsui Trust and Banking Company, Limited 2.2 Photo and U.K.-based Rank Xerox Limited (current Xerox Operating Segment Information 2 Financial Sumitomo Mitsui Banking Corporation 2.0 Limited) launched Fuji Xerox Co., Ltd. through a joint venture. Institutions 2.0 206,906 Moxley and Company From the mid-1950s, Fuji Photo accelerated the establish- Financial Highlights Foreign 40.2% State Street Bank of Trust Company 2.0 4 Corporations ment of overseas sales bases. In the 1980s, aiming for 208,294 State Street Bank of Trust Company 505225 1.7 40.5% “World-Class FUJIFILM” status, Fuji Photo expanded its pro- A Message from the CEO Mitsui Sumitomo Insurance Co., Ltd. 1.7 duction and other bases overseas, stepping up the pace of 6 Securities Note: In addition to the major shareholders described above, FUJIFILM Holdings An Interview with the CEO Companies Corporation holds treasury stock accounting for 5.1% of the total issued 8,323 its business globalization. Meanwhile, Fuji Photo led the Fujifilm has recognized the current fiscal year, ending Individuals Other 1.6% shares outstanding. March 31, 2011, as an important period before the and Others industry in the development of digital technologies for appli- National and Regional Corporations Fujifilm Group fully returns to the road to renewed 42,743 Governmental Organizations 22,317 8.3% cation in its photo-related, medical and printing businesses. growth. Over this critical period, the Company will 65 4.3% selectively allocate its management resources in the 0.0% These technologies allowed Fuji Photo to become a driving business fields and geographical regions—particu- force in the development of such markets. larly emerging markets—that are showing high potential for growth. The beginning of the new millennium witnessed the rapid spread of digital technology application in cameras. Demand Common Share Price (Tokyo Stock Exchange) for photographic films showed a sudden plunge in line with 16 Review of Operations the growing popularity of digital cameras. In response, Fuji This section provides a review of the Fujifilm Group’s (Yen) operations in each of the three operating segments, with 5,000 Photo advanced management reforms aimed at effecting related topics, during the fiscal year under review. drastic transformation of its business structures. In October 16 Imaging Solutions 4,000 2006, Fuji Photo adopted a holding-company system and 20 Information Solutions established FUJIFILM Holdings Corporation, which wel- 28 Document Solutions comed the two operating companies—FUJIFILM Corporation 3,000 and Fuji Xerox—under its wing. Under this system, the Fujifilm Group promoted structural reforms in the Imaging 32 Fujifilm Group’s Technological Assets 2,000 Solutions segment and growth strategies in its priority busi- ness fields. These initiatives enabled the Company to 36 Corporate Governance 1,000 achieve a sharp performance improvement and post record- 36 Corporate Governance high revenue and operating income in the fiscal year ended Board of Directors, Corporate Auditors, (Yen) 0 March 31, 2008. In the following fiscal year, however, the 39 2008.4 5 6 7 8 9 10 11 12 2009.1 2 3 4 5 6 7 8 9 10 11 12 2010.1 2 3 and Executive Officers 5,000 Company experienced abrupt deterioration in its business 40 Internal Control performance, negatively impacted by the global recession, 42 CSR 4,000 which had escalated until recently. Public notices of the Company shall be made available electronically (in Japanese) via its corporate website (http://www. fujifilmholdings.com/). Under such adverse conditions, the Company has continued However, in the event that electronic public notices cannot be made due to accident or other unavoidable circumstances, public notices the bold implementation of additional structural reforms and 44 Financial Section 3,000 shall be made in the Nihon Keizai Shinbun. reformulated its growth strategies. Today, the Fujifilm Group is at Corporate Information a new starting line, ready to accelerate toward renewed growth. 101 2,000 1,000 FUJIFILM Holdings Corporation 101 0 2008.4 5 6 7 8 9 10 11 12 2009.1 2 3 4 5 6 7 8 9 10 11 12 2010.1 2 3 Fujifilm Group in Brief FUJIFILM Holdings Corporation is com- Imaging Solutions mitted to contributing to the enhance- ment of the quality of life of people ¥345.5 billion worldwide. In the pursuit of this commit- Color Films and Others 32.8 ment, the Company is accelerating busi- ness in the three operating segments of Color Paper and Chemicals 85.6 Imaging Solutions, Information Solutions and Document Solutions. Photofinishing 21.8 Equipment Breakdown of Consolidated Revenue by Operating Segment Labs and FDi Services 62.1 Imaging Solutions Electric Imaging 105.8 16% Document Solutions March 2010 Consolidated Revenue ¥935.4 billion 43% ¥2,181.7 billion ¥900.8 billion Information Solutions Medical Systems/ Life Sciences 263.9 41% 499.2 Office Products Graphic Arts 228.2 159.2 Office Printers Flat Panel Display Materials 216.5 121.6 Production Services Recording Media 49.6 79.1 Global Services Office and Industry 135.9 Document Solutions Information Solutions Revenue by Total Assets by Revenue by Region Revenue by Region Operating Segment Operating Segment (Geographic Base) (Destination Base) (Billions of yen) (Billions of yen) (Billions of yen) (Billions of yen) 3,000 3,000 3,000 3,000 2,500 2,500 2,500 2,500 2,000 2,000 2,000 2,000 1,500 1,500 1,500 1,500 1,000 1,000 1,000 1,000 500 500 500 500 0 0 0 0 ’06 ’07 ’08 ’09 ’10 ’06 ’07 ’08 ’09 ’10 ’06 ’07 ’08 ’09 ’10 ’06 ’07 ’08 ’09 ’10 ! Imaging Solutions ! Information Solutions ! Document Solutions ! The Americas ! Europe ! Asia and others ! Japan Years ended March 31 FUJIFILM Holdings Corporation Operating Segment Information Imaging Information Solutions Solutions Magazine P Color Films and Others P Medical Systems/Life Sciences P Graphic Arts Color negative films Digital X-ray diagnostic imaging system: Materials and equipment for graphic arts QuickSnap single-use cameras FCR, DR • Computer-to-plate plates Color reversal films Digital mammography systems • CTP plate setters SYNAPSE medical-use picture • Software archiving and communications Industrial inkjet printers/Inks systems (PACS) QuickSnap single-use cameras Color negative films Luxel T-9800CTP HS P Color Paper and Chemicals Photographic paper for color prints P Flat Panel Display Materials Photofinishing chemicals FUJITAC protective films for polarizers Viewed from Viewed from left right WV Film FCR PROFECT CS on FUJITAC Viewed from bottom SYNAPSE Left: Right: Polarizer Polarizer Using WV film Using conventional film FUJITACLiquid crystal cell Photobook Dry imaging films/Dry imagers ©Disney X-ray films