FUJIFILM (4901) investor relations material

Executive summary

• Achieved record highs in revenue, operating income, and net income for FY2025, with revenue up 5.0% year-over-year to ¥3,357.0 billion and net income up 6.0% to ¥276.7 billion, driven by strong performance in Healthcare, Electronics, Imaging, and bio CDMO segments.

• Q4 FY2025 revenue rose 6.8% year-over-year to ¥927.3 billion, with net income up 5.0% to ¥83.4 billion.

• Comprehensive income surged to ¥580.7 billion, up 131.4% year-over-year, mainly due to significant foreign currency translation gains.

• FY2026 guidance targets further record highs, with revenue forecast at ¥3,470.0 billion (+3.4%), operating income at ¥365.0 billion (+4.2%), and net income at ¥280.0 billion (+1.2%).

Financial highlights

• FY2025 revenue: ¥3,357.0 billion (+5.0% YoY); operating income: ¥350.2 billion (+6.1% YoY); net income: ¥276.7 billion (+6.0% YoY).

• Gross profit margin: 40.8%; operating margin: 10.4%; ROE: 7.7%; ROIC: 5.5%.

• EPS for FY2025: ¥229.65 (+¥12.98 YoY); ROE: 7.7%; ROIC: 5.5%.

• Overseas sales accounted for 65.2% of total revenue.

• Free cash flow was negative ¥144.0 billion due to high capital expenditures.

Outlook and guidance

• FY2026 revenue forecast: ¥3,470.0 billion (+3.4% YoY); operating income: ¥365.0 billion (+4.2% YoY); net income: ¥280.0 billion (+1.2% YoY).

• Aims for record highs across all key metrics, supported by expansion in Bio CDMO and Semiconductor Materials.

• Dividend per share planned at ¥75.0, marking the 17th consecutive annual increase.

• Guidance does not factor in potential impacts from energy cost volatility or Middle East tensions; a scenario of crude oil at $100/barrel could reduce operating profit by ¥30–40 billion per quarter.

• Free cash flow expected to turn positive as capital expenditures decrease.