Fujifilm Holdings Corp · TSE:4901
Fujifilm — Q3 FY2023 Earnings Presentation
42 slides from Fujifilm's earnings presentation, Feb 8, 2024
Slide 1: Earnings Presentation: Financial Results for Q3 FY2023
Earnings Presentation Financial Results for Q3 FY2023 February 8, 2024 Forward-looking statements, such as those relating to earnings forecasts and other projections contained in this material, are manage ment’s current assumptions and beliefs based on currently available information. Such forward-l
Slide 2: Agenda
Agenda Consolidated Financial Results for Q3 FY2023 (April to December 2023) Earnings Highlights and Key Topics 1 Teiichi Goto, President and CEO, Representative Director, FUJIFILM Holdings Corporation Financial Results and Business Summary by Operating Segment 2 Masayuki Higuchi, CFO, Director and
Slide 3: Celebrating the Fujifilm Group's 90th anniversary
Celebrating the Fujifilm Group’s 90th anniversary January 20 Since its founding in 1934, with the mission of producing photographic film for the Japanese market, the Fujifilm Group has continued to embrace challenges and overcome various difficulties without fear of change by combining its technolog
Slide 4: FUJIFILM Holdings Corporation
FUJIFILM Holdings Corporation |
Slide 5: Q3 FY2023 Earnings Highlights and Key Topics
Earnings Highlights Q3 FY2023 FY2023 Appendices 01 Q3 FY2023 Earnings Highlights and Key Topics FUJIFILM Holdings Corporation 5
Slide 6: Earnings Highlights for Q3 FY2023
Earnings Highlights Highlights Key Topics Q3 FY2023 FY2023 Appendices Earnings Highlights for Q3 FY2023 Consolidated Performance for Q1-Q3 FY2023 Net income Revenue Operating income attributable to FUJIFILM Holdings Record high Record high Record high ¥2,155.4 billion ¥204.9 billion ¥173.8 billion ➡
Slide 7: Shareholder Returns
Earnings Highlights Highlights Key Topics Q3 FY2023 FY2023 Appendices Shareholder Returns Dividends ▐ Dividends ¥150 ¥130 150 〉Annual dividend forecast for FY2023 ¥110 • 14th consecutive annual increase 150 / share* 100 • Up ¥20 from the previous year ¥ (¥10 for ordinary dividend + ¥10 for 90th anni
Slide 8: Key Points for Q3 FY2023 1/3: Color filter materials
Earnings Highlights Highlights Key Topics Q3 FY2023 FY2023 Appendices Key Points for Q3 FY2023 1/3 Electronic Materials Color filter materials for image sensors Photosensitive color materials needed to manufacture color filters for image sensors Currently marketed as Wave Control Mosaic (WCM) Invest
Slide 9: Key Points for Q3 FY2023 2/3: Electronic Materials
Earnings Highlights Highlights Key Topics Q3 FY2023 FY2023 Appendices Key Points for Q3 FY2023 2/3 Material used to polish and planarize the surface of semiconductor chips where wiring and insulating layers of Electronic Materials CAGR CMP slurry +10% different hardness are mixed. CMP: Chemical Mech
Slide 10: Key Points for Q3 FY2023 3/3: Life Sciences
Earnings Highlights Highlights Key Topics Q3 FY2023 FY2023 Appendices Key Points for Q3 FY2023 3/3 Life Sciences January 2024 Granted a license to BlueRock Therapeutics LP to develop and commercialize of iPSC-derived cell therapies for eye diseases Aiming to create best-in-class cell replacement the
Slide 11: Next Medium-term Management Plan starting April 2024
Earnings Highlights Highlights Key Topics Q3 FY2023 FY2023 Appendices Next Medium-term Management Plan starting April 2024 VISION2023 FY2021 - FY2023 Next Medium-term Management Plan +¥30.0B FY2024 - FY2026 +11.5% Achieved vs. VISION2023 VISION2023 targets targets Direction follows VISION2023 1 year
Slide 12: Q3 FY2023 Financial Results and Business Summary by Operating Segment
Earnings Highlights Q3 FY2023 FY2023 Appendices 02 Q3 FY2023 Financial Results and Business Summary by Operating Segment FUJIFILM Holdings Corporation 12
Slide 13: Financial Results for Q3 FY2023 (April to December 2023)
Earnings Highlights Q3 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for Q3 FY2023 (April to December 2023) (Billions of yen) 9 months Constant- Impact of FY2022 FY2023 Change currency exchange rate basis Revenue 2,094.3 Record 2,155.4 61.1 59.7 1.4 high 100.0% 100.0% +2.9
Slide 14: Consolidated Revenue and Operating Income by Operating Segment
Earnings Highlights Q3 FY2023 Company-wide By Segment BS CF FY2023 Appendices Consolidated Revenue and Operating Income by Operating Segment (Billions of yen) 9 months Revenue Change Constant-currency FY2022 FY2023 basis Healthcare 641.8 690.7 48.9 +7.6% 26.4 +4.1% * Materials 514.7 494.7 (20.0) (3.
Slide 15: Business Summary: Healthcare
Earnings Highlights Q3 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for Q3 FY2023 (April to December 2023) Business Summary: Healthcare Revenue increased 7.6% year-over-year due to higher contributions from all sub-segments, while operating income decreased 3.2% year-over
Slide 16: Business Summary: Materials
Earnings Highlights Q3 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for Q3 FY2023 (April to December 2023) Business Summary: Materials Revenue and operating income decreased by 3.9% and 45.8% year-over-year, respectively, mainly hit by the stagnant semiconductor market an
Slide 17: Business Summary: Business Innovation
Earnings Highlights Q3 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for Q3 FY2023 (April to December 2023) Business Summary: Business Innovation Overall revenue decreased by 2.1% year-over-year, hit by lower revenue from the Office Solutions, but operating income increase
Slide 18: Business Summary: Imaging
Earnings Highlights Q3 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for Q3 FY2023 (April to December 2023) Business Summary: Imaging Revenue and operating income increased by 13.8% and 41.7% year-over-year, respectively, due to brisk sales of instant photo systems and dig
Slide 19: Consolidated Balance Sheets
Earnings Highlights Q3 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for Q3 FY2023 (April to December 2023) Consolidated Balance Sheets (Billions of yen) Change from Change from Mar. 2022 Mar. 2023 Dec. 2023 Mar. 2022 Mar. 2023 Dec. 2023 Mar. 2023 Mar. 2023 Cash and cash e
Slide 20: Consolidated Cash Flow
Earnings Highlights Q3 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for Q3 FY2023 (April to December 2023) Consolidated Cash Flow Net cash provided by operating activities (Billions of yen) Net cash used in investing activities FY2021 FY2022 FY2023 Free cash flow excludin
Slide 21: FY2023 Financial Forecast for FY2023
Earnings Highlights Q3 FY2023 FY2023 Appendices 03 FY2023 Financial Forecast for FY2023 FUJIFILM Holdings Corporation 21
Slide 22: Full-year Forecast for FY2023
Earnings Highlights Q3 FY2023 FY2023 Company-wide By Segment Shareholder Returns Appendices Full-year Forecast for FY2023 (Billions of yen) FY2023 FY2023 FY2022 Previous Revised Change from Change from Actual forecast forecast FY2022 previous forecast (as of November 8, 2023) (as of February 8, 2024
Slide 23: Financial Forecast by Operating Segment
Earnings Highlights Q3 FY2023 FY2023 Company-wide By Segment Shareholder Returns Appendices Financial Forecast by Operating Segment (Billions of yen) FY2023 FY2023 Previous Revised FY2022 Revenue Actual forecast forecast Change Constant-currency basis (as of November 8, (as of February 8, 2023) 2024
Slide 24: Appendices: Financial Results for Q3 FY2023
Earnings Highlights Q3 FY2023 FY2023 Appendices 04 Appendices: Financial Results for Q3 FY2023 FUJIFILM Holdings Corporation 24
Slide 25: Q3 / 9M Earnings
Earnings Highlights Q3 FY2023 FY2023 Appendices Q3 / 9M Earnings (Billions of yen) Q3 9 months Constant- Constant- Impact of Impact of FY2022 FY2023 Change currency FY2022 FY2023 Change currency exchange rate exchange rate basis basis Revenue 744.4 Record 766.9 22.5 23.4 (0.9) 2,094.3 Record 2,155.4
Slide 26: Q3 / 9M Earnings: Revenue and Operating Income by Operating Segment
Earnings Highlights Q3 FY2023 FY2023 Appendices Q3 / 9M Earnings: Revenue and Operating Income by Operating Segment (Billions of yen) Q3 9 months Revenue FY2022 FY2023 Change Constant-currency FY2022 FY2023 Change Constant-currency basis basis Healthcare 220.6 242.5 21.9 +10.0% 13.9 +6.3% 641.8 690.
Slide 27: Q3 / 9M Earnings: Healthcare
Earnings Highlights Q3 FY2023 FY2023 Appendices Q3 / 9M Earnings: Healthcare (Billions of yen) Q3 9 months Revenue FY2022 FY2023 Change Constant-currency FY2022 FY2023 Change Constant-currency basis basis * Medical Systems 155.3 164.7 9.4 +6.0% 4.4 +2.9% 443.0 469.4 26.4 +5.9% 13.0 +2.9% Bio CDMO 39
Slide 28: Q3 / 9M Earnings: Materials
Earnings Highlights Q3 FY2023 FY2023 Appendices Q3 / 9M Earnings: Materials (Billions of yen) Q3 9 months Revenue Constant-currency Constant-currency FY2022 FY2023 Change FY2022 FY2023 Change basis basis Electronic Materials 46.4 55.0 8.6 +18.4% 6.2 +13.2% 139.5 138.5 (1.0) (0.7%) (6.8) (4.9%) Displ
Slide 29: Q3 / 9M Earnings: Business Innovation
Earnings Highlights Q3 FY2023 FY2023 Appendices Q3 / 9M Earnings: Business Innovation (Billions of yen) Q3 9 months Revenue Constant-currency Constant-currency FY2022 FY2023 Change FY2022 FY2023 Change basis basis Office Solutions 148.5 128.3 (20.2) (13.6%) (22.8) (15.4%) 415.4 385.4 (30.0) (7.2%) (
Slide 30: Q3 / 9M Earnings: Imaging
Earnings Highlights Q3 FY2023 FY2023 Appendices Q3 / 9M Earnings: Imaging (Billions of yen) Q3 9 months Revenue Constant-currency Constant-currency FY2022 FY2023 Change FY2022 FY2023 Change basis basis Consumer Imaging 94.3 102.5 8.2 +8.7% 3.0 +3.3% 213.4 238.0 24.6 +11.5% 13.3 +6.2% Professional Im
Slide 31: Operating Income Analysis (YoY comparison for 9 months)
Earnings Highlights Q3 FY2023 FY2023 Appendices Operating Income Analysis (YoY comparison for 9 months) (Billions of yen) 9 months FY2022 FY2023 Change Raw material One-time Operation FX Actual Actual price cost and others Healthcare 62.2 60.3 (1.9) (3.2%) 2.6 (1.3) (3.4) 0.2 *4 Materials 57.9 31.4
Slide 32: Full-year Forecast for FY2023: Revenue by Business
Earnings Highlights Q3 FY2023 FY2023 Appendices Full-year Forecast for FY2023 (as of February 8, 2024) Revenue by Business (Billions of yen) FY2023 FY2023 FY2022 Previous forecast Revised forecast Change from Change from Actual (as of Novem ber 8, (as of February 8, previous year previous forecast 2
Slide 33: Operating Income Analysis (Full-year forecast vs previous forecast)
Earnings Highlights Q3 FY2023 FY2023 Appendices (as of November 8, 2023) Operating Income Analysis (Full-year forecast vs previous forecast) (Billions of yen) FY2023 Full year Previous Revised forecast forecast Change Raw material One-time Operation FX (as of November 8, (as of February 8, price cos
Slide 34: Consolidated Revenue by Geographical Area
Earnings Highlights Q3 FY2023 FY2023 Appendices Consolidated Revenue by Geographical Area (Billions of yen) FY2022 9 months FY2023 9 months Change Ratio (%) Ratio (%) Japan 34.5% 722.8 34.9% 751.2 28.4 +3.9% The Americas 23.3% 488.1 22.1% 477.0 (11.1) (2.3%) Europe 15.2% 318.0 15.4% 331.9 13.9 +4.4%
Slide 35: Capital Expenditure and Depreciation & Amortization
Earnings Highlights Q3 FY2023 FY2023 Appendices Capital Expenditure and Depreciation & Amortization Capital Expenditure (Tangible fixed assets) Depreciation & Amortization 9 months 9 months (Billions of yen) (Billions of yen) Q3 9 months Full Year FY2023 306.1 FY2022 FY2023 FY2022 FY2023 FY2022 Fore
Slide 36: R&D Expenses and SG&A Expenses
Earnings Highlights Q3 FY2023 FY2023 Appendices R&D Expenses and SG&A Expenses R&D Expenses 9 months (Billions of yen) (Billions of yen) 9 months Full Year FY2023 FY2022 FY2023 FY2022 Forecast 114.9 117.7 Healthcare 35.9 41.2 49.0 Materials 35.1 36.9 46.4 35.9 41.2 Business Innovation 24.7 23.3 33.1
Slide 37: Number of Employees
Earnings Highlights Q3 FY2023 FY2023 Appendices Market Trend and Number of Employees Exchange Rates (Yen) FY2022 FY2023 Full Year Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 9M (Forecast) ￥/US$ 130 139 141 132 136 138 145 148 144 144 ￥/€ 138 139 144 142 141 150 157 159 156 155 Exchange rate sensitivity: Impact o
Slide 38: Bio CDMO / Negotiation progress
Bio CDMO / Negotiation progress ✔ Q2→Q3 : Large bioreactor negotiation (20,000L) progress Changes from earnings Denmark Status as of each fiscal year-end presentation materials as of Second-phase Nov. 8, 2023 investment : Contracted (8 units) : Informal agreement : Negotiations in progress U.S. : Fa
Slide 39: Pipeline (as of February 8, 2024)
Earnings Highlights Q3 FY2023 FY2023 Appendices Pipeline (as of February 8, 2024) Development Therapeutic category Formulation Region Development stage code Submitted an application for T-705 Severe fever with thrombocytopenia syndrome virus drug Oral Japan permission Submitted an application for T-
Slide 40: References
Earnings Highlights Q3 FY2023 FY2023 Appendices References ▍ FUJIFILM Holdings - Investor Relations https://ir.fujifilm.com/en/investors.html ▍ FUJIFILM Holdings Integrated Report 2023 https://ir.fujifilm.com/en/investors/ir-materials/integrated-report.html ▍ IR Materials https://ir.fujifilm.com/en/
Slide 41: FUJIFILM Value from Innovation
FUJIFILM Value from Innovation Tomon TOW
Slide 42: Corporate Communications Division
Corporate Communications Division FUJIFILM Holdings Corporation https://holdings.fujifilm.com/en FUJIFILM Holdings Corporation 42