Fujifilm Holdings Corp · TSE:4901
Fujifilm — Q1 FY2023 Earnings Presentation
35 slides from Fujifilm's earnings presentation, Aug 9, 2023
Slide 1: Earnings Presentation: Financial Results for Q1 FY2023
Earnings Presentation Financial Results for Q1 FY2023 August 9, 2023 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-loo
Slide 2: Agenda
Agenda Consolidated Financial Results for Q1 FY2023 (April to June 2023) Earnings Highlights and Key Points for Q1 FY2023 1 Teiichi Goto, President and CEO, Representative Director, FUJIFILM Holdings Corporation Financial Results for Q1 FY2023 and Business Summary 2 by Operating Segment Masayuki Hig
Slide 3: Q1 FY2023 Earnings Highlights and Key Points
Earnings Highlights Q1 FY2023 FY2023 Appendix 01 Q1 FY2023 Earnings Highlights and Key Points © FUJIFILM Holdings Corporation 3
Slide 4: Earnings Highlights for Q1 FY2023
Earnings Highlights Highlights Key Points Q1 FY2023 FY2023 Appendix Earnings Highlights for Q1 FY2023 Consolidated Performance for Q1 FY2023 Net income Revenue Operating income attributable to FUJIFILM Holdings ¥660.8 billion ¥ 52.2 billion ¥ 54.4 billion ➡ +5.6% +5.4% +31.5% ➡ ➡ Change from FY22 〉
Slide 5: Key Topics for Q1 FY2023 1/3
Earnings Highlights Highlights Key Points Q1 FY2023 FY2023 Appendix Key Topics for Q1 FY2023 1/3 Medical Systems Reorganization of group companies in Japan has started in the current fiscal year to maximize Group synergies with FUJIFILM Healthcare Corporation.*¹ We will rapidly build a robust busine
Slide 6: Key Topics for Q1 FY2023 2/3
Earnings Highlights Highlights Key Points Q1 FY2023 FY2023 Appendix Key Topics for Q1 FY2023 2/3 Bio CDMO Large capital expenditure (20,000L bioreactors) Progressing as planned at both the Denmark site (first-phase / second-phase) and North Carolina site in the U.S. Business negotiations with major
Slide 7: Key Topics for Q1 FY2023 3/3
Earnings Highlights Highlights Key Points Q1 FY2023 FY2023 Appendix Key Topics for Q1 FY2023 3/3 Bio CDMO first-phase investment Contracts for all six bioreactors to be added at Denmark site for FY2024 operation have been signed. ✔ Progress of ✔ : Large bioreactor negotiations (20,000L) in 2023 Chan
Slide 8: Q1 FY2023 Financial Results and Business Summary by Operating Segment
Earnings Highlights Q1 FY2023 FY2023 Appendix Q1 FY2023 02 Financial Results and Business Summary by Operating Segment © FUJIFILM Holdings Corporation 8
Slide 9: Financial Results for Q1 FY2023 (April to June 2023)
Earnings Highlights Q1 FY2023 Company-wide By Segment BS CF FY2023 Appendix Financial Results for Q1 FY2023 (April to June 2023) (Billions of yen) Q1 Constant- Impact of FY2022 FY2023 Change currency exchange rate basis Revenue 625.9 660.8 34.9 17.3 17.6 100.0% 100.0% +5.6% +2.8% 49.6 52.2 2.6 4.0 (
Slide 10: Consolidated Revenue and Operating Income by Operating Segment
Earnings Highlights Q1 FY2023 Company-wide By Segment BS CF FY2023 Appendix Consolidated Revenue and Operating Income by Operating Segment (Billions of yen) Q1 Revenue Change Constant-currency FY2022 FY2023 basis Healthcare 182.8 206.8 24.0 +13.1% 17.2 +9.4% * Materials 172.4 154.6 (17.8) (10.4%) (2
Slide 11: Business Summary: Healthcare
Earnings Highlights Q1 FY2023 Company-wide By Segment BS CF FY2023 Appendix Business Summary: Healthcare Revenue increased by 13.1% year-over-year due to higher contributions from all sub-segments, while operating income decreased by 9.1% year-over-year due to inventory write-downs in Bio CDMO and 2
Slide 12: Business Summary: Materials
Earnings Highlights Q1 FY2023 Company-wide By Segment BS CF FY2023 Appendix Business Summary: Materials Revenue and profit decreased by 10.4% and 58.1% year-over-year, respectively, mainly hit by the stagnant semiconductor market and lower demand for printing. (Billions of yen) 180.0 172.4 40.0 Elec
Slide 13: Business Summary: Business Innovation
Earnings Highlights Q1 FY2023 Company-wide By Segment BS CF FY2023 Appendix Business Summary: Business Innovation Revenue and profit increased by 3.2% and 18.7% year-over-year, respectively, due to higher revenue from Business Solutions. (Billions of yen) 200.0 194.2 40.0 188.2 Office Solutions Reve
Slide 14: Business Summary: Imaging
Earnings Highlights Q1 FY2023 Company-wide By Segment BS CF FY2023 Appendix Business Summary: Imaging Revenue rose by 27.6% year-over-year and operating income increased 2.2 times year- over-year due to brisk sales of instant photo systems and digital cameras. 105.2 (Billions of yen) Consumer Imagin
Slide 15: Consolidated Balance Sheets
Earnings Highlights Q1 FY2023 Company-wide By Segment BS CF FY2023 Appendix Consolidated Balance Sheets (Billions of yen) Change from Change from Mar. 2022 Mar. 2023 Jun. 2023 Mar. 2022 Mar. 2023 Jun. 2023 Mar. 2023 Mar. 2023 Cash and cash equivalents 486.3 268.6 250.0 (18.6) Short-term and long-ter
Slide 16: Consolidated Cash Flow
Earnings Highlights Q1 FY2023 Company-wide By Segment BS CF FY2023 Appendix Consolidated Cash Flow C/F from operating activities C/F from investing activities (Billions of yen) Free cash flow excluding business acquisitions and others FY2021 FY2022 FY2023 Q1 Q1 Q1 (Billions of yen) 150.0 Net income
Slide 17: Financial Forecast for FY2023
Earnings Highlights Q1 FY2023 FY2023 Appendix 03 Financial Forecast for FY2023 © FUJIFILM Holdings Corporation 17
Slide 18: Full-year Forecast for FY2023
Earnings Highlights Q1 FY2023 FY2023 Company-wide By Segment Shareholder Returns Appendix 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 May 10, 2023) (as of August 9, 2023) Revenu
Slide 19: Financial Forecast by Operating Segment
Earnings Highlights Q1 FY2023 FY2023 Company-wide By Segment Shareholder Returns Appendix Financial Forecast by Operating Segment (Billions of yen) FY2023 FY2023 FY2022 Previous Revised Revenue Actual forecast forecast Change Constant-currency basis (as of May 10, 2023) (as of August 9, 2023) Health
Slide 20: Shareholder Returns
Earnings Highlights Q1 FY2023 FY2023 Company-wide By Segment Shareholder Returns Appendix Shareholder Returns Shareholder Returns ▍Dividends 〉 Annual dividends for FY2023 are planned to be ¥150 per share, marking the 14th consecutive annual increase. The dividend per share of ¥150 includes the 90th
Slide 21: Appendices: Financial Results for Q1 FY2023
Earnings Highlights Q1 FY2023 FY2023 Appendix 04 Appendices: Financial Results for Q1 FY2023 © FUJIFILM Holdings Corporation 21
Slide 22: Q1 Earnings: Healthcare
Earnings Highlights Q1 FY2023 FY2023 Appendix Q1 Earnings: Healthcare (Billions of yen) Q1 Revenue FY2022 FY2023 Change Constant-currency basis * Medical Systems 130.3 140.1 9.8 +7.5% 6.0 +4.5% Bio CDMO 30.6 40.9 10.3 +33.4% 8.0 +26.1% LS Solutions 21.9 25.8 3.9 +18.2% 3.2 +14.8% Total 182.8 206.8 2
Slide 23: Q1 Earnings: Materials
Earnings Highlights Q1 FY2023 FY2023 Appendix Q1 Earnings: Materials Q1 Revenue Constant-currency FY2022 FY2023 Change basis Electronic Materials 44.6 40.5 (4.1) (9.1%) (5.9) (13.1%) Display Materials 23.7 20.1 (3.6) (15.4%) (3.6) (15.4%) * Other Advanced Materials 22.5 18.5 (4.0) (17.6%) (4.6) (20.
Slide 24: Q1 Earnings: Business Innovation
Earnings Highlights Q1 FY2023 FY2023 Appendix Q1 Earnings: Business Innovation Q1 Revenue Constant-currency FY2022 FY2023 Change basis Office Solutions 128.8 125.8 (3.0) (2.3%) (5.0) (3.9%) Business Solutions 59.4 68.4 9.0 +15.2% 8.8 +14.9% Total 188.2 194.2 6.0 +3.2% 3.8 +2.0% Note: After eliminati
Slide 25: Q1 Earnings: Imaging
Earnings Highlights Q1 FY2023 FY2023 Appendix Q1 Earnings: Imaging Q1 Revenue Constant-currency FY2022 FY2023 Change basis Consumer Imaging 54.1 63.2 9.1 +17.0% 6.4 +11.9% Professional Imaging 28.4 42.0 13.6 +47.9% 12.7 +44.7% Total 82.5 105.2 22.7 +27.6% 19.1 +23.2% Note: After elimination of inter
Slide 26: Operating Income Analysis (Q1 FY2023 vs Q1 FY2022)
Earnings Highlights Q1 FY2023 FY2023 Appendix Operating Income Analysis (Q1 FY2023 vs Q1 FY2022) (Billions of yen) Q1 *1 Raw FY2022 FY2023 Change One-time Operation FX material Actual Actual cost and others price Healthcare 11.3 10.3 (1.0) (9.1%) 0.8 (0.5) (4.6) 3.3 *4 Materials 22.3 9.3 (13.0) (58.
Slide 27: Full-year Forecast for FY2023: Revenue by Business
Earnings Highlights Q1 FY2023 FY2023 Appendix Full-year Forecast for FY2023 Revenue by Business (Billions of yen) FY2023 FY2023 FY2022 Previous forecast Revised forecast Change from Change from Actual (as of May 10, (as of August 9, previous year previous forecast 2023) 2023) * Healthcare 928.6 970.
Slide 28: Operating Income Analysis (Full-year forecast vs previous forecast)
Earnings Highlights Q1 FY2023 FY2023 Appendix Operating Income Analysis (Full-year forecast vs previous forecast) (announced on May 10, 2023) (Billions of yen) FY2023 Full year Revised *1 Previous Raw forecast Change One-time Operation forecast FX material (as of August 9, cost and others (as of May
Slide 29: Consolidated Revenue by Geographical Area
Earnings Highlights Q1 FY2023 FY2023 Appendix Consolidated Revenue by Geographical Area (Billions of yen) FY2022 Q1 FY2023 Q1 Change Ratio (%) Ratio (%) Japan 35.8% 224.0 36.2% 239.1 15.1 +6.7% The Americas 21.4% 133.7 22.2% 146.5 12.8 +9.6% Europe 15.1% 94.2 13.6% 89.9 (4.3) (4.6%) China 13.9% 86.7
Slide 30: Capital Expenditure and Depreciation & Amortization
Earnings Highlights Q1 FY2023 FY2023 Appendix Capital Expenditure and Depreciation & Amortization Capital Expenditure (Tangible fixed assets) Depreciation & Amortization (Billions of yen) 1Q 1Q Q1 Full Year (Billions of yen) FY2023 FY2022 FY2023 FY2022 Forecast Healthcare 40.1 76.3 219.9 385.0 87.9
Slide 31: R&D Expenses and SG&A Expenses
Earnings Highlights Q1 FY2023 FY2023 Appendix R&D Expenses and SG&A Expenses R&D Expenses 1Q (Billions of yen) Q1 Full Year (Billions of yen) FY2023 FY2022 FY2023 FY2022 Forecast 37.6 38.6 Healthcare 11.3 13.3 49.0 Materials 12.0 12.1 46.4 11.3 13.3 Business Innovation 8.3 7.8 33.1 Imaging 2.1 2.7 9
Slide 32: Market Trend and Number of Employees
Earnings Highlights Q1 FY2023 FY2023 Appendix Market Trend and Number of Employees Exchange Rates (Yen) FY2022 FY2023 Q2-Q4 Q1 Q2 Q3 Q4 Full Year Q1 Forecast Full Year ￥/US$ 130 139 141 132 136 138 135 136 ￥/€ 138 139 144 142 141 150 145 146 Exchange rate sensitivity: Impact of 1 yen change (full ye
Slide 33: Pipeline (as of August 9, 2023)
Earnings Highlights Q1 FY2023 FY2023 Appendix Pipeline (as of August 9, 2023) Development Therapeutic category Formulation Region Development stage code T-705 Severe fever with thrombocytopenia syndrome virus drug Oral Japan PⅢ U.S. PⅡ Alzheimer's disease drug Japan PⅡ T-817MA Oral Europe PⅡ Functio
Slide 34: References
Earnings Highlights FY2022 Actual FY2023 Actual Appendix References ▍ FUJIFILM Holdings - Investor Relations https://ir.fujifilm.com/en/investors.html ▍ FUJIFILM Holdings Integrated Reports https://ir.fujifilm.com/en/investors/ir-materials/integrated-report.html ▍ IR Materials https://ir.fujifilm.co
Slide 35: At Fujifilm, we are continuously innovating
At Fujifilm, we are continuously innovating — creating new technologies, products and services that inspire and excite people everywhere. Our goal is to empower the potential and expand the horizons of tomorrow’s businesses and lifestyles. Corporate Communications Division https://holdings.fujifilm.