Fujifilm Holdings Corp · TSE:4901
Fujifilm — Q2 FY2023 Earnings Presentation
38 slides from Fujifilm's earnings presentation, Nov 8, 2023
Slide 1: Earnings Presentation: Financial Results for Q2 FY2023
Earnings Presentation Financial Results for Q2 FY2023 November 8, 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-l
Slide 2: Agenda
Agenda Consolidated Financial Results for H1 FY2023 (April to September 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: H1 FY2023 Earnings Highlights and Key Topics
Earnings Highlights H1 FY2023 FY2023 Appendices 01 H1 FY2023 Earnings Highlights and Key Topics © FUJIFILM Holdings Corporation 3
Slide 4: Earnings Highlights for H1 FY2023
Earnings Highlights Highlights Key Topics H1 FY2023 FY2023 Appendices Earnings Highlights for H1 FY2023 Consolidated Performance for H1 FY2023 Net income Revenue Operating income attributable to FUJIFILM Holdings Record high Record high ¥ 1,388.5 billion ¥ 125.5 billion ¥ 113.6 billion Change from F
Slide 5: Key Topics for Q2 FY2023 1/4
Earnings Highlights Highlights Key Topics H1 FY2023 FY2023 Appendices Key Topics for Q2 FY2023 1/4 Current fiscal year initiatives for the next medium-term management plan As the final year of VISION2023, we are working to strengthen the foundation for the next medium-term management plan that leads
Slide 6: Key Topics for Q2 FY2023 2/4
Earnings Highlights Highlights Key Topics H1 FY2023 FY2023 Appendices Key Topics for Q2 FY2023 2/4 Current fiscal year initiatives for the next medium-term management plan ▍Bio CDMO Complete large capital expenditure project (20,000L bioreactors) on schedule Denmark site • Construction: 95% complete
Slide 7: Key Topics for Q2 FY2023 3/4
Earnings Highlights Highlights Key Topics H1 FY2023 FY2023 Appendices Key Topics for Q2 FY2023 3/4 Current fiscal year initiatives for the next medium-term management plan ▍Electronic Materials Completed the acquisition of the electronic chemicals business from Entegris Inc. of the U.S. (October 202
Slide 8: Key Topics for Q2 FY2023: Initiatives toward Sustainability
Earnings Highlights Highlights Key Topics H1 FY2023 FY2023 Appendices Key Topics for Q2 FY2023 3/3 Initiatives toward Sustainability 4th center Opened NURA, a health screening center focusing on cancer screening, in Ulaanbaatar, Mongolia. Expand to 100 centers worldwide, mainly in emerging countries
Slide 9: H1 FY2023 Financial Results and Business Summary by Operating Segment
Earnings Highlights H1 FY2023 FY2023 Appendices H1 FY2023 02 Financial Results and Business Summary by Operating Segment © FUJIFILM Holdings Corporation 9
Slide 10: Financial Results for H1 FY2023 (April to September 2023)
Earnings Highlights H1 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for H1 FY2023 (April to September 2023) (Billions of yen) H1 Constant- Impact of FY2022 FY2023 Change currency exchange rate basis Revenue 1,349.9 1,388.5 38.6 36.3 2.3 100.0% 100.0% +2.9% +0.2% 120.8 125
Slide 11: Consolidated Revenue and Operating Income by Operating Segment
Earnings Highlights H1 FY2023 Company-wide By Segment BS CF FY2023 Appendices Consolidated Revenue and Operating Income by Operating Segment (Billions of yen) H1 Revenue Change Constant-currency FY2022 FY2023 basis Healthcare 421.2 448.2 27.0 +6.4% 12.5 +3.0% * Materials 346.9 319.6 (27.3) (7.9%) (3
Slide 12: Business Summary: Healthcare
Earnings Highlights H1 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for H1 FY2023 (April to September 2023) Business Summary: Healthcare Revenue increased 6.4% year-over-year due to higher contributions from all sub-segments, while operating income decreased 6.0% year-ove
Slide 13: Business Summary: Materials
Earnings Highlights H1 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for H1 FY2023 (April to September 2023) Business Summary: Materials Revenue and operating income decreased by 7.9% and 51.5% year-over-year, respectively, mainly hit by the stagnant semiconductor market a
Slide 14: Business Summary: Business Innovation
Earnings Highlights H1 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for H1 FY2023 (April to September 2023) Business Summary: Business Innovation Revenue and operating income increased by 0.8% and 9.6% year-over-year respectively due to higher revenue from Business Soluti
Slide 15: Business Summary: Imaging
Earnings Highlights H1 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for H1 FY2023 (April to September 2023) Business Summary: Imaging Revenue and operating income increased by 19.5% and 85.5% year-over-year, respectively, due to brisk sales of instant photo systems and di
Slide 16: Consolidated Balance Sheets
Earnings Highlights H1 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for H1 FY2023 (April to September 2023) Consolidated Balance Sheets (Billions of yen) Change Change Mar. 2022 Mar. 2023 Sep. 2023 from Mar. 2022 Mar. 2023 Sep. 2023 from Mar. 2023 Mar. 2023 Cash and cash
Slide 17: Consolidated Cash Flow
Earnings Highlights H1 FY2023 Company-wide By Segment BS CF FY2023 Appendices Financial Results for H1 FY2023 (April to September 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 excludi
Slide 18: Financial Forecast for FY2023
Earnings Highlights H1 FY2023 FY2023 Appendices 03 Financial Forecast for FY2023 © FUJIFILM Holdings Corporation 18
Slide 19: Full-year Forecast for FY2023
Earnings Highlights H1 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 August 9, 2023) (as of November 8, 2023)
Slide 20: Financial Forecast by Operating Segment
Earnings Highlights H1 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 August 9, (as of November 8, 2023) 2023)
Slide 21: Shareholder Returns
Earnings Highlights H1 FY2023 FY2023 Company-wide By Segment Shareholder Returns Appendices Shareholder Returns Shareholder Returns ▍Dividends ¥150 ¥130 Commemorative Annual dividend forecast for FY2023: dividend +10 • ¥150 per share, marking the 14th +10 consecutive annual increase ¥100 +20 • In ad
Slide 22: Appendices: Financial Results for H1 FY2023
Earnings Highlights H1 FY2023 FY2023 Appendices 04 Appendices: Financial Results for H1 FY2023 © FUJIFILM Holdings Corporation 22
Slide 23: Q2 / H1 Earnings
Earnings Highlights H1 FY2023 FY2023 Appendices Q2 / H1 Earnings (Billions of yen) Q2 H1 Constant- Constant- Impact of Impact of FY2022 FY2023 Change currency FY2022 FY2023 Change currency exchange rate exchange rate basis basis Revenue 724.0 Record 727.7 3.7 19.0 (15.3) 1,349.9 1,388.5 38.6 36.3 2.
Slide 24: Q2 / H1 Earnings by Segment
Earnings Highlights H1 FY2023 FY2023 Appendices Q2 / H1 Earnings (Billions of yen) Q2 H1 Revenue FY2022 FY2023 Change Constant- FY2022 FY2023 Change Constant- currency currency Healthcare 238.4 241.4 3.0 +1.3% (4.7) (1.9%) 421.2 448.2 27.0 +6.4% 12.5 +3.0% * Materials 174.5 165.0 (9.5) (5.4%) (14.1)
Slide 25: 2Q / H1 Earnings: Healthcare
Earnings Highlights H1 FY2023 FY2023 Appendices 2Q / H1 Earnings: Healthcare (Billions of yen) (Billions of yen) Q2 H1 Revenue FY2022 FY2023 Change Constant-currency FY2022 FY2023 Change Constant-currency basis basis * Medical Systems 157.4 164.6 7.2 +4.6% 2.6 +1.7% 287.7 304.7 17.0 +5.9% 8.6 +3.0%
Slide 26: 2Q / H1 Earnings: Materials
Earnings Highlights H1 FY2023 FY2023 Appendices 2Q / H1 Earnings: Materials (Billions of yen) Q2 H1 Revenue FY2022 FY2023 Change Constant-currency FY2022 FY2023 Change Constant-currency basis basis Electronic Materials * 48.5 43.0 (5.5) (11.3%) (7.1) (14.7%) 93.1 83.5 (9.6) (10.2%) (13.0) (13.9%) Di
Slide 27: 2Q / H1 Earnings: Business Innovation
Earnings Highlights H1 FY2023 FY2023 Appendices 2Q / H1 Earnings: Business Innovation (Billions of yen) Q2 H1 Revenue FY2022 FY2023 Change Constant-currency FY2022 FY2023 Change Constant-currency basis basis Office Solutions 138.0 131.3 (6.7) (4.9%) (8.6) (6.4%) 266.9 257.1 (9.8) (3.7%) (13.7) (5.2%
Slide 28: 2Q / H1 Earnings: Imaging
Earnings Highlights H1 FY2023 FY2023 Appendices 2Q / H1 Earnings: Imaging (Billions of yen) Q2 H1 Revenue FY2022 FY2023 Change Constant-currency FY2022 FY2023 Change Constant-currency basis basis Consumer Imaging 65.0 72.3 7.3 +11.0% 3.9 +5.7% 119.1 135.5 16.4 +13.7% 10.3 +8.5% Professional Imaging
Slide 29: Operating Income Analysis (H1 FY2023 vs H1 FY2022)
Earnings Highlights H1 FY2023 FY2023 Appendices Operating Income Analysis (H1 FY2023 vs H1 FY2022) (Billions of yen) H1 Raw FY2022 FY2023 Change One-time Operation FX material Actual Actual cost and others price Healthcare 44.5 41.8 (2.7) (6.0%) 1.3 (1.0) (2.4) (0.6) *4 Materials 38.5 18.6 (19.9) (5
Slide 30: Full-year Forecast for FY2023 (as of November 8, 2023)
Earnings Highlights H1 FY2023 FY2023 Appendices Full-year Forecast for FY2023 (as of November 8, 2023) Revenue by Business (Billions of yen) FY2023 FY2023 FY2022 Previous forecast Revised forecast Change from Change from Actual (as of August 9, (as of November 8, previous year previous forecast * 20
Slide 31: Operating Income Analysis (Full-year forecast vs previous forecast)
Earnings Highlights H1 FY2023 FY2023 Appendices (as of August 9, 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 August 9, (as of November 8, price cost an
Slide 32: Consolidated Revenue by Geographical Area
Earnings Highlights H1 FY2023 FY2023 Appendices Consolidated Revenue by Geographical Area (Billions of yen) FY2022 H1 FY2023 H1 Change Ratio (%) Ratio (%) Japan 35.5% 478.5 36.1% 501.1 22.6 +4.7% The Americas 22.6% 305.4 22.0% 305.2 (0.2) (0.1%) Europe 14.8% 199.6 14.3% 198.0 (1.6) (0.8%) China 13.6
Slide 33: Capital Expenditure and Depreciation & Amortization
Earnings Highlights H1 FY2023 FY2023 Appendices Capital Expenditure and Depreciation & Amortization Capital Expenditure (Tangible fixed assets) Depreciation & Amortization H1 H1 (Billions of yen) (Billions of yen) Q2 H1 Full Year FY2023 FY2022 FY2023 FY2022 FY2023 FY2022 188.5 Forecast Healthcare 47
Slide 34: R&D Expenses and SG&A Expenses
Earnings Highlights H1 FY2023 FY2023 Appendices R&D Expenses and SG&A Expenses R&D Expenses H1 (Billions of yen) (Billions of yen) H1 Full Year FY2023 FY2022 FY2023 FY2022 Forecast 76.5 78.4 Healthcare 23.2 27.7 49.0 Materials 23.6 24.9 46.4 23.2 27.7 Business Innovation 16.8 15.3 33.1 Imaging 4.8 5
Slide 35: Market Trend and Number of Employees
Earnings Highlights H1 FY2023 FY2023 Appendices Market Trend and Number of Employees Exchange Rates (Yen) FY2022 FY2023 H2 Full Year Q1 Q2 Q3 Q4 Full Year Q1 Q2 H1 (Forecast) (Forecast) ￥/US$ 130 139 141 132 136 138 145 142 135 138 ￥/€ 138 139 144 142 141 150 157 153 145 149 Exchange rate sensitivit
Slide 36: Pipeline (As of November 8, 2023)
Earnings Highlights H1 FY2023 FY2023 Appendices Pipeline (As of November 8, 2023) Development Therapeutic category Formulation Region Development stage code Submitted an application for T-705 Severe fever with thrombocytopenia syndrome virus drug Oral Japan permission U.S. PⅡ Alzheimer's disease dru
Slide 37: References
Earnings FY2022 Actual FY2023 Actual Appendix Highlights 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 38: Corporate Communications Division
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.