Fujifilm Holdings Corp · TSE:4901
Fujifilm — Q4 FY2025 Earnings Presentation
41 slides from Fujifilm's earnings presentation, May 12, 2026
Slide 1: Earnings Presentation: Financial Results for Q4 FY2025
Earnings Presentation Financial Results for Q4 FY2025 May 12, 2026 FUJIFILM Holdings Corporation Forward-looking statements, such as those relating to earnings forecasts and other projections contained in this material, are m anage ment’s current assumptions and beliefs based on currently available
Slide 2: Agenda
Agenda Consolidated Financial Results for Q4 FY2025 (January to March 2026) Earnings Highlights and VISION2030 Progress 1 Teiichi Goto, President, Representative Director & CEO FUJIFILM Holdings Corporation Financial Results and Business Summary by Operating Segment 2 Masayuki Higuchi, Director & Co
Slide 3: Earnings Highlights and VISION2030 Progress
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices FY2025 Earnings Highlights and VISION2030 Progress 01 FUJIFILM Holdings Corporation 3
Slide 4: Consolidated Performance for FY2025
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Earnings Highlights for FY2025 Consolidated Performance for FY2025 (Exchange rates: ¥151/US$ | -¥1 YoY; ¥175/Euro | +¥11 YoY) Revenue Operating income Net income attributable to FUJIFILM Holdings Record high Record high Record high ¥ 3,357.0 b
Slide 5: Highlights of Financial Forecast for FY2026
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Highlights of Financial Forecast for FY2026 Full-year Forecast for FY2026 (Exchange rates for FY2026: ¥150/US$ |-¥1 YOY; ¥175/Euro | YoY unchanged) Revenue Operating income Net income attributable to FUJIFILM Holdings Record high Record high R
Slide 6: Highlights of Financial Forecast for FY2026: VISION2030 Progress
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Highlights of Financial Forecast for FY2026: VISION2030 Progress • Aiming to achieve the targets for revenue, operating income and net income attributable to FUJIFILM Holdings as set forth in the medium-term management plan (VISION2030) • Aimi
Slide 7: Shareholder Returns
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Shareholder Returns • The annual dividend for FY2025 is planned at ¥70.0 per share • On March 30, 2026, the Company announced a share buyback of up to ¥30.0 billion and the cancellation of all shares repurchased. The share buyback was complete
Slide 8: Financial Results and Business Summary by Operating Segment
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices FY2025 Financial Results and Business Summary by Operating Segment 02 * From Q2 FY2024, the amounts shown for each item in this document have been rounded off to the nearest ¥100 million. As a result, there may be some discrepancies from figur
Slide 9: Financial Results for FY2025
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Financial Results for FY2025 (Billions of yen) Q4 Full Year Excluding FX, one-time Excluding FX, one-time FY2024 FY2025 Change cost FY2024 FY2025 Change cost and raw material and raw material impacts impacts Revenue 868.3 Record high 927.3 58.
Slide 10: Consolidated Revenue and Operating Income by Operating Segment
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices FY2025 (Fiscal Year Ended March 2026) Consolidated Revenue and Operating Income by Operating Segment (Billions of yen) Q4 Full Year Revenue FY2024 FY2025 Change FY2024 FY2025 Change Constant-currency basis Constant-currency basis * Healthcare
Slide 11: Business Summary: Healthcare
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Q4 FY2025 (January to March 2026) Business Summary: Healthcare Revenue and income （Billions of yen） Factors affecting revenue ◼ Medical Systems FY2024 FY2025 Change Excluding FX, one-time cost and raw material impacts + Sales of endoscope incr
Slide 12: Business Summary: Electronics
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Q4 FY2025 (January to March 2026) Business Summary: Electronics Revenue and income （Billions of yen） Factors affecting revenue ◼ Semiconductor Materials FY2024 FY2025 Change Excluding FX, one-time cost + Strong sales driven by capturing demand
Slide 13: Business Summary: Business Innovation
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Q4 FY2025 (January to March 2026) Business Summary: Business Innovation Revenue and income （Billions of yen） Factors affecting revenue FY2024 FY2025 Change Excluding FX, one-time cost ◼ Business Solutions (BS) and raw material impacts + Higher
Slide 14: Business Summary: Imaging
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Q4 FY2025 (January to March 2026) Business Summary: Imaging Revenue and income （Billions of yen） Factors affecting revenue ◼ Consumer Imaging FY2024 FY2025 Change Excluding FX, one-time cost + Sales of instax instant photo systems, including t
Slide 15: Consolidated Cash Flow
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices FY2025 (April 2025 to March 2026) Consolidated Cash Flow Cash in Cash out (Billions of yen) Adjusted free cash flow excluding business acquisitions FY2023 FY2024 FY2025 Net income 243.3 261.7 277.3 (Billions of yen) Depreciation & amortization
Slide 16: Impact of the U.S. Tariff Policy
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices FY2025 (April 2025 to March 2026) Impact of the U.S. Tariff Policy The impact of the U.S. tariff policy in FY2025 amounted to a negative ¥5.8 billion, mitigated by pricing measures and other initiatives 4Q actual Full-year actual Full-year for
Slide 17: Financial Forecast for FY2026
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Financial Forecast for FY2026 03 * From Q2 FY2024, the amounts shown for each item in this document have been rounded off to the nearest ¥100million. As a resul t, there may be some discrepancies from figures published in the past, and in some
Slide 18: Full-year Forecast for FY2026
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Full-year Forecast for FY2026 Aiming to achieve record highs for revenue, operating income and net income attributable to FUJIFILM Holdings by implementing pricing measures and other initiatives to offset the rising raw materials costs, includ
Slide 19: Financial Forecast by Operating Segment
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Financial Forecast by Operating Segment • Revenue is projected to reach ¥3,470.0 billion, driven by the expansion of operations at new Bio CDMO facilities and increased sales of Semiconductor Materials • Operating income is expected to reach ¥
Slide 20: Impact of Rising Semiconductor Memory Prices and the Situation in the Middle East
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Impact of Rising Semiconductor Memory Prices and the Situation in the Middle East • For rising semiconductor memory prices, the Company is mitigating the negative impact on business performance mainly through pricing measures and sourcing of a
Slide 21: ROIC (Return on Invested Capital)
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices ROIC (Return on Invested Capital) • In FY2025, ROIC came in at 5.5%, down 0.4 percentage points YoY, reflecting continued growth investments in the Healthcare segment and delays in profitability improvement • For FY2026, while continuing growt
Slide 22: Cash Allocation (FY2026 Forecast)
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Cash Allocation (FY2026 Forecast) • Free cash flow is expected to turn positive in FY2026 as capital expenditures in Bio CDMO decrease significantly • The Company will focus on capital efficiency, continuing to allocate funds toward growth inv
Slide 23: Initiatives to improve ROIC
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Implement Management That Is Conscious of Cost of Capital and Stock Price Aiming to achieve an ROE of 10% or higher in FY2030 by continuously improving ROIC across all business segments and ensuring appropriate capital allocation, while contri
Slide 24: Shareholder Returns
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Shareholder Returns ▐ Dividend trends (forecast) ▐ Policy on shareholder returns Annual dividend for FY2025 : ¥70.0 per share Annual dividend for FY2026 : ¥75.0 per share ¥ 75.0 Share price (¥) 70.0 ¥ 1 Ensure a balance between business growth
Slide 25: Appendices: Financial Results for FY2025
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Appendices: Financial Results for FY2025 04 * From Q2 FY2024, the amounts shown for each item in this document have been rounded off to the nearest ¥100 million. As a result, there may be some discrepancies from figures published in the past,
Slide 26: Q4 / Full-year Earnings
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Q4 / Full-year Earnings (Billions of yen) Q4 Full Year Revenue FY2024 FY2025 Change FY2024 FY2025 Change Constant-currency basis Constant-currency basis * Healthcare 316.5 333.6 17.2 +5.4% 6.5 +2.1% 1,047.8 1,098.9 51.2 +4.9% 42.7 +4.1% Medica
Slide 27: Quarterly Earnings
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Quarterly Earnings (Billions of yen) FY2024 FY2025 Revenue Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 * Healthcare 235.2 249.0 247.1 316.5 228.5 270.7 266.1 333.6 Medical Systems 157.7 166.9 162.6 206.1 144.0 170.3 170.2 217.1 Bio CDMO 47.1 48.1 51.3 73.0 53.2 6
Slide 28: Consolidated Revenue by Geographical Area
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Consolidated Revenue by Geographical Area (Billions of yen) FY2024 Full Year FY2025 Full Year Change Ratio (%) Ratio (%) Japan 34.4% 1,099.3 34.8% 1,168.7 69.4 +6.3% The Americas 20.2% 646.9 19.6% 657.9 11.0 +1.7% Europe 17.0% 544.6 17.3% 581.
Slide 29: Operating Income Analysis (Q4 YoY)
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Operating Income Analysis (Q4 YoY) (Billions of yen) Q4 (a) (b) FY2024 FY2025 Operation Raw Material Tariff （b-a) Change FX FY2024 FY2025 Business Detail Actual Actual and others price Impact One-time cost Q4 Q4 *1 Healthcare 45.4 29.7 (15.7)
Slide 30: Operating Income Analysis (Q4 Actual vs. Previous Forecast)
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Operating Income Analysis (Q4 Actual vs. Previous Forecast) (Billions of yen) Q4 FY2025 FY2025 Operation Raw Material （b-a) (a) (b) Forecast Actual Change FX tariff Previous Business Detail and others price One-time cost Actual forecast Health
Slide 31: Bio CDMO Profitability (Q4 YoY)
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Bio CDMO Profitability (Q4 YoY) （Billions of yen) Q4 Full Year vs Previous vs Previous Bio CDMO Year Year FY2024 FY2025 FY2024 FY2025 Revenue 73.0 73.9 0.9 219.5 254.1 34.6 Scheduled maintenance at Denmark facilities (10.0) (10.0) Optimization
Slide 32: Full-year Forecast for FY2026 Revenue by Business
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Full-year Forecast for FY2026 Revenue by Business (Billions of yen) Change from previous year FY2025 FY2026 With Constant currency Actual Forecast Amount of money currency impact basis Healthcare 1,098.9 1,170.0 71.1 +6.5% +6.7% Medical System
Slide 33: Operating Income Analysis (FY2026 Forecast vs FY2025 Actual)
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Operating Income Analysis (FY2026 Forecast vs FY2025 Actual) (Billions of yen) FY2025 FY2026 Operation Raw Material （b-a) (a) (b) Actual Forecast Change FX FY2025 FY2026 Business Detail and others price One-time cost Actual Forecast Healthcare
Slide 34: Consolidated Balance Sheets
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices FY2025 (Fiscal Year Ended March 2026) Consolidated Balance Sheets (Billions of yen) Change from Change from Mar. 2024 Mar. 2025 Mar. 2026 Mar. 2024 Mar. 2025 Mar. 2026 Mar. 2025 Mar. 2025 Cash and cash equivalents 179.7 172.1 170.6 (1.6) Short
Slide 35: Capital Expenditure and Depreciation & Amortization
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Capital Expenditure and Depreciation & Amortization Capital Expenditure and Depreciation & Amortization (Billions of yen) (Billions of yen) 600.0 6,000 Q4 Full Year Forecast 532.1 FY2024 FY2025 FY2024 FY2025 FY2026 506.9 Healthcare 101.4 99.0
Slide 36: R&D Expenses and SG&A Expenses
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices R&D Expenses and SG&A Expenses R&D Expenses and SG&A Expenses (Billions of yen) Ratio to revenue 9,000 900.0 861.5 40.0% 806.5 (Billions of yen) 8,065 Q4 Full Year Forecast 30.0% FY2024 FY2025 FY2024 FY2025 FY2026 6,000 600.0 * Healthcare 15.9
Slide 37: Market Trend and Number of Employees
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices Market Trend and Number of Employees ▐ Exchange rates (average) / Raw material prices (average) FY2024 FY2025 Unit Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Q4 Full Year US$ ¥US/$ 156 149 152 152 152 145 148 154 157 151 € ¥/€ 168 164 163 161 164 164 172
Slide 38: References: Initiatives Toward Sustainability
Earnings Highlights Q4 FY2025 FY2026 Forecast Appendices References: Initiatives Toward Sustainability New External Acknowledgement Under the Fujifilm Group Purpose “Giving our world more smiles,” we will contribute further to the realization of a sustainable society by enhancing our initiatives to
Slide 39: References
Earnings Highlights Q3 FY2025 FY2025 Forecast Appendices References ▍ FUJIFILM Holdings - Investor Relations https://ir.fujifilm.com/en/investors.html ▍ FUJIFILM Holdings Integrated Report https://ir.fujifilm.com/en/investors/ir-materials/integrated-report.html ▍ IR Materials https://ir.fujifilm.com
Slide 40: FUJIFILM Holdings Corporation
FUJIFILM Holdings Corporation
Slide 41: FUJIFILM Value from Innovation
FUJ ‘FILM Value from Inn