Financial Results (Consolidated) for the Fiscal Year ended March 31, 2021 FUJIFILM Holdings Corporation
May 12, 2021
Kenji Sukeno | URL: https://holdings.fujifilm.com/en |
President and Chief Operating Officer | |
Date of annual shareholders' meeting: June 29, 2021 | Projected date of the beginning of cash dividends: June 30, 2021 |
Projected date of annual securities report: June 30, 2021 | |
Reference materials regarding operating results of the current fiscal year to be prepared: Yes | |
Meeting to explain operating results of the current fiscal year to be held: Yes |
(Consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America.)
1. Results of the Fiscal Year ended March 31, 2021 (From April 1, 2020 to March 31, 2021)
(1) OPERATING RESULTS | Amount Unit: Millions of yen unless otherwise specified / Figures are rounded off to the nearest million yen | |||||||||||||||||||||||||
%: Changes from the corresponding period of the previous fiscal year | ||||||||||||||||||||||||||
Revenue | Operating income | Income before | Net income attributable | |||||||||||||||||||||||
income taxes | to FUJIFILM Holdings | |||||||||||||||||||||||||
% | % | % | % | |||||||||||||||||||||||
Year ended March 31, 2021 | 2,192,519 | (5.3) | 165,473 | (11.3) | 235,870 | 36.3 | 181,205 | 45.0 | ||||||||||||||||||
Year ended March 31, 2020 | 2,315,141 | (4.8) | 186,570 | (11.1) | 173,071 | (18.7) | 124,987 | (9.5) | ||||||||||||||||||
Note: Comprehensive income | ||||||||||||||||||||||||||
Year ended March 31, 2021 | ¥ | 296,226 million ( 235.5 %) | Year ended March 31, 2020 | ¥ 88,289 million ((46.3)%) | ||||||||||||||||||||||
Net income | Net income attributable to | Return on FUJIFILM | Ratio of income before | Ratio of operating | ||||||||||||||||||||||
attributable | FUJIFILM Holdings | |||||||||||||||||||||||||
Holdings shareholders' | ||||||||||||||||||||||||||
to FUJIFILM Holdings | per share | income taxes to total assets | income to revenue | |||||||||||||||||||||||
equity | ||||||||||||||||||||||||||
per share | (Assuming full dilution) | |||||||||||||||||||||||||
Yen | Yen | % | % | % | ||||||||||||||||||||||
Year ended March 31, 2021 | 453.28 | 451.75 | 8.7 | 6.9 | 7.5 | |||||||||||||||||||||
Year ended March 31, 2020 | 306.18 | 305.22 | 6.3 | 5.1 | 8.1 | |||||||||||||||||||||
(Ref) Equity in net earnings of | affiliated companies | |||||||||||||||||||||||||
Year ended March 31, 2021 | ¥ | 3,198 million | Year ended March 31, 2020 | ¥ 1,341 million | ||||||||||||||||||||||
(2) FINANCIAL POSITION | Amount Unit: Millions of yen unless otherwise specified / Figures are rounded off to the nearest million yen | |||||||||||||||||||||||||
Total assets | Total equity | FUJIFILM Holdings | FUJIFILM Holdings | FUJIFILM Holdings | ||||||||||||||||||||||
shareholders' equity ratio to | shareholders' equity | |||||||||||||||||||||||||
(Net asset) | shareholders' equity | |||||||||||||||||||||||||
total assets | per share | |||||||||||||||||||||||||
% | Yen | |||||||||||||||||||||||||
Year ended March 31, 2021 | 3,549,203 | 2,222,157 | 2,204,566 | 62.1 | 5,514.14 | |||||||||||||||||||||
Year ended March 31, 2020 | 3,321,692 | 1,993,757 | 1,953,252 | 58.8 | 4,886.66 | |||||||||||||||||||||
(3) CASH FLOWS | Amount Unit: Millions of yen unless otherwise specified / Figures are rounded off to the nearest million yen | |||||||||||||||||||||||||
Net Cash provided by | Net Cash used in | Net Cash used in | Cash and Cash Equivalents | |||||||||||||||||||||||
Operating Activities | Investing Activities | Financing Activities | at the end of year | |||||||||||||||||||||||
Year ended March 31, 2021 | 420,861 | (279,381) | (163,093) | 394,795 | ||||||||||||||||||||||
Year ended March 31, 2020 | 255,667 | (244,850) | (250,943) | 396,091 | ||||||||||||||||||||||
2. Cash Dividend | Amount Unit: Millions of yen unless otherwise specified / Figures are rounded off to the nearest million yen | |||||||||||||||||||||||||
Cash dividend per share | Total cash | Consolidated | Ratio of cash | |||||||||||||||||||||||
dividends to | ||||||||||||||||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | Year End | Year Total | dividends | payout ratio | shareholders' equity | |||||||||||||||||||
Yen | Yen | Yen | Yen | Yen | % | % | ||||||||||||||||||||
Year ended | - | 47.50 | - | 47.50 | 95.00 | 38,432 | 31.0 | 1.9 | ||||||||||||||||||
March 31, 2020 | ||||||||||||||||||||||||||
Year ended | - | 47.50 | - | 52.50 | 100.00 | 39,979 | 22.1 | 1.9 | ||||||||||||||||||
March 31, 2021 | ||||||||||||||||||||||||||
Year ending March | - | 50.00 | - | 50.00 | 100.00 | 30.8 | ||||||||||||||||||||
31, 2022 (Forecast) | ||||||||||||||||||||||||||
3. Forecast for the Fiscal Year ending March 31, 2022 (From April 1, 2021 to March 31, 2022)
Amount Unit: Millions of yen unless otherwise specified / Figures are rounded off to the nearest million yen %: Changes from the corresponding period of the previous fiscal year
Revenue | Operating income | Income before | Net income attributable | Net income attributable | ||||||
income taxes | to FUJIFILM Holdings | to FUJIFILM Holdings | ||||||||
per share | ||||||||||
% | % | % | % | Yen | ||||||
For the Year ending March 31, 2022 | 2,440,000 | 11.3 | 180,000 | 8.8 | 185,000 | (21.6) | 130,000 | (28.3) | 325.16 | |
Note: Changes in forecast which was recently announced: Yes |
Note: Net income attributable to FUJIFILM Holdings per share is calculated using the number of shares issued as of March 31, 2021 excluding treasury shares for the average number of shares for the relevant period.
Notes
- Changes in status of material subsidiaries during the period (Company newly consolidated or removed from consolidation): Yes
- Changes in accounting principles
- Changes in accounting policies accompanying amendment of accounting standards: None
- Other changes in accounting policies: None
- Number of shares outstanding
- Issued (including treasury stock):
- Treasury stock:
- Average number of shares:
As of March 31, 2021 | 514,625,728 | As of March 31, 2020 | 514,625,728 |
As of March 31, 2021 | 114,823,247 | As of March 31, 2020 | 114,914,288 |
Year ended | 399,762,945 | Year ended | 408,215,110 |
March 31, 2021 | March 31, 2020 | ||
(Reference) Summary of Financial Results (Non-Consolidated)
Results of the Fiscal Year ended March 31, 2021 (From April 1, 2020 to March 31, 2021)
(1) OPERATING RESULTS | Amount Unit: Millions of yen unless otherwise specified / Figures are rounded down to the nearest million yen | |||||||||||||||
%: Changes from the corresponding period of the previous fiscal year | ||||||||||||||||
Revenue | Operating income | Ordinary income | Net income | |||||||||||||
% | % | % | % | |||||||||||||
Year ended March 31, 2021 | 30,995 | (48.7) | 24,907 | (54.8) | 26,584 | (89.0) | 26,234 | (89.7) | ||||||||
Year ended March 31, 2020 | 60,391 | (16.6) | 55,108 | (17.6) | 240,630 | 270.3 | 254,448 | 290.0 | ||||||||
Net income per share of | Net income per share of common | |||||||||||||||
common stock | stock (Assuming full dilution) | |||||||||||||||
Yen | Yen | |||||||||||||||
Year ended March 31, 2021 | 65.62 | 65.39 | ||||||||||||||
Year ended March 31, 2020 | 623.32 | 621.27 | ||||||||||||||
(2) FINANCIAL POSITION | Amount Unit: Millions of yen unless otherwise specified / Figures are rounded down to the nearest million yen | |||||||||||||||
Total assets | Net assets | Net asset ratio to total assets | Net assets per share of | |||||||||||||
common stock | ||||||||||||||||
% | Yen | |||||||||||||||
Year ended March 31, 2021 | 1,741,422 | 1,252,676 | 70.7 | 3,121.03 | ||||||||||||
Year ended March 31, 2020 | 1,852,948 | 1,251,907 | 67.1 | 3,121.02 | ||||||||||||
(Reference) Shareholders' equity | ||||||||||||||||
Year ended March 31, 2021 ¥ 1,231,604 million | Year ended March 31, 2020 ¥ | 1,242,996 million |
Disclosure regarding the status of the year-end audit process
These Financial Results (Consolidated) for the Fiscal Year ended March 31, 2019 are out of scope for the year-end audit procedure by certified public accountants or audit firm.
Explanation of Appropriate Use of Forecast and Other Special Items
Statements regarding future events including forecasts of operating results are based on limited available information and reasonable assumptions as of today. The Company does not have the intention of guaranteeing the realization of future performance. Actual operating results are always subject to change significantly due to various matters. Assumptions for the forecast and warnings for users of the forecast are mentioned in the page 6, Outlook for the Fiscal Year ending March 31, 2022 of the section (1) Analysis of Results of Operations in 1. ANALYSIS OF OPERATING RESULTS AND CONSOLIDATED FINANCIAL POSITION.
FUJIFILM Holdings Corporation (4901)
[INDEX]
1. ANALYSIS OF OPERATING RESULTS AND CONSOLIDATED FINANCIAL POSITION
(1) | Analysis of Results of Operations | ・・・・・ | P. 2 |
(2) | Analysis of Consolidated Financial Position | ・・・・・ | P. 7 |
- Basic Policy Regarding Distribution of Profits and Dividends Applicable to
the Fiscal Year under Review and Subsequent Fiscal Year | ・・・・・ | P. 7 | |
2. | CORPORATE STRUCTURE OF FUJIFILM GROUP | ・・・・・ | P. 8 |
3. | MANAGEMENT POLICIES | ・・・・・ | P. 8 |
4. | BASIC RATIONALE FOR SELECTION OF ACCOUNTING STANDARDS | ・・・・・ | P. 11 |
5. CONSOLIDATED FINANCIAL STATEMENTS
(1) Consolidated Balance Sheets | ・・・・・ P.12 |
- Consolidated Statements of Income and Consolidated Statements of
Comprehensive Income | ・・・・・ | P.14 |
(Consolidated Statements of Income) | ・・・・・ | P.14 |
Year ended March 31 | ・・・・・ | P.14 |
Three months ended March 31 | ・・・・・ | P.15 |
(Consolidated Statements of Comprehensive Income) | ・・・・・ | P.16 |
Year ended March 31 | ・・・・・ | P.16 |
Three months ended March 31 | ・・・・・ | P.16 |
(3) Consolidated Statements of Changes in Shareholders' Equity | ・・・・・ | P.17 |
(4) Consolidated Statements of Cash Flows | ・・・・・ | P.18 |
(5) Notes to Consolidated Financial Statements | ・・・・・ | P.19 |
(Note Relating to the Going Concern Assumption) | ・・・・・ | P.19 |
(Summary of Significant Accounting Policies) | ・・・・・ | P.19 |
(Segment Information) | ・・・・・ | P.20 |
1) Year ended March 31 | ・・・・・ | P.20 |
2) Three months ended March 31 | ・・・・・ | P.24 |
(Amounts Per Share of Common Stock) | ・・・・・ | P.25 |
(Subsequent Event) | ・・・・・ | P.25 |
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FUJIFILM Holdings Corporation (4901)
1. ANALYSIS OF OPERATING RESULTS AND CONSOLIDATED FINANCIAL POSITION
(1) Analysis of Results of Operations
Amount Unit: Billions of yen
Domestic revenue
Overseas revenue
Revenue
Operating income
Income before income taxes
Net income attributable to FUJIFILM Holdings
Exchange rates (Yen / US$) Exchange rates (Yen / Euro)
Year ended | Year ended | Change | |||||||
March 31, 2021 | March 31, 2020 | ||||||||
From April 1, 2020 | From April 1, 2019 | Amount | % | ||||||
to March 31, 2021 | to March 31, 2020 | ||||||||
42.3% | 927.9 | 43.4% | 1,004.0 | (76.1) | (7.6) | ||||
57.7% | 1,264.6 | 56.6% | 1,311.1 | (46.5) | (3.5) | ||||
100.0% | 2,192.5 | 100.0% | 2,315.1 | (122.6) | (5.3) | ||||
7.5% | 165.5 | 8.1% | 186.6 | (21.1) | (11.3) | ||||
10.8% | 235.9 | 7.5% | 173.1 | 62.8 | 36.3 | ||||
8.3% | 181.2 | 5.4% | 125.0 | 56.2 | 45.0 | ||||
¥106 | ¥109 | (¥3) | |||||||
¥124 | ¥121 | ¥3 | |||||||
In the fiscal year ended March 31, 2021, the Fujifilm Group (the Group) recorded ¥2,192.5 billion in consolidated revenue (down 5.3% year-over-year), reflecting such factors as sales increases in the bio CDMO business, pharmaceutical business, and electronic materials business, and sales decreases in the photo imaging business, optical device and electronic imaging business, and document business.
Operating income decreased to ¥165.5 billion (down 11.3% year-over-year). Consolidated income before income taxes amounted to ¥235.9 billion (up 36.3% year-over-year) and consolidated net income attributable to FUJIFILM Holdings totaled ¥181.2 billion (up 45.0% year-over-year). The effective currency exchange rates for the U.S. dollar and the euro against the yen during this fiscal year were ¥106 and ¥124, respectively.
Revenue by Operating Segment
Amount Unit: Billions of yen | |||||
Year ended | Year ended | Change | |||
Segment | March 31, 2021 | March 31, 2020 | |||
From April 1, 2020 | From April 1, 2019 | Amount | % | ||
to March 31, 2021 | to March 31, 2020 | ||||
Imaging Solutions | 285.2 | 332.6 | (47.4) | (14.2) | |
Healthcare & Material | 1,052.6 | 1,024.2 | 28.4 | 2.8 | |
Solutions | |||||
Document Solutions | 854.7 | 958.3 | (103.6) | (10.8) | |
Consolidated Total | 2,192.5 | 2,315.1 | (122.6) | (5.3) | |
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FUJIFILM Holdings Corporation (4901)
Operating Income by Operating Segment
Amount Unit: Billions of yen
Year ended | Year ended | Change | |||||
Segment | March 31, 2021 | March 31, 2020 | |||||
From April 1, 2020 | From April 1, 2019 | Amount | % | ||||
to March 31, 2021 | to March 31, 2020 | ||||||
Imaging Solutions | 15.6 | 25.1 | (9.5) | (37.8) | |||
Healthcare & Material | 107.5 | 92.4 | 15.1 | 16.3 | |||
Solutions | |||||||
Document Solutions | 73.3 | 105.0 | (31.7) | (30.2) | |||
Corporate Expenses and | (30.9) | (35.9) | 5.0 | - | |||
Eliminations | |||||||
Consolidated Total | 165.5 | 186.6 | (21.1) | (11.3) | |||
Imaging Solutions | |||||||
In the Imaging Solutions segment, consolidated | revenue amounted to | ¥285.2 billion | (down 14.2% | ||||
year-over-year). | |||||||
Consolidated operating income amounted to ¥15.6 billion (down 37.8% year-over-year). |
In the photo imaging business, revenue decreased due to the impact of voluntary restraint and cancellation of events resulting from the spread of the COVID-19 pandemic, but sales of instant photo systems, which enable users to enjoy on-the-spot printing of photos, increased year-over-year in the second half. Sales of instant photo systems recovered mainly in Europe, the U.S., and China as we strengthened online sales by using social media to promote a new way of enjoying time at home. Sales of the instax mini Link, a printer for smartphones, and the instax mini 11 instant camera were favorable, and the instax SQUARE SQ1, an entry model launched in November 2020 compatible with the popular square format film also contributed to higher revenue. For print services, new personalized features were added to the Year Album, a photo book service, in April 2020, enabling automatic selection and layout of photos according to individual interests and preferences through the use of AI technology, which have been well received by users. We will continue meeting increasingly diverse customer needs and offering user-friendly,high-value added products and services, while also communicating to the world the intrinsic photographic values of "shooting, preserving, displaying, and gifting."
In the optical device and electronic imaging business, revenue from the electronic imaging field, which decreased in the first half due to reduced demand stemming from the COVID-19 pandemic, recovered in the second half to rise above the level of last year. The FUJIFILM X-S10 mirrorless digital camera, launched in November 2020, has been well received for its powerful image stabilization and large grip despite its compact size, and it has contributed to the expansion of the X mount user base. Sales of the FUJIFILM GFX100S, released in February 2021 together with the FUJINON Lens GF80mm F1.7 R WR, exceeded expectations, having gained a high reputation worldwide for its superior image quality using a large format sensor despite its compact body. Going forward, we will continue providing value-added products and revitalizing the market, along with providing the pleasure of taking photos.
In the optical device field, sales of broadcast and cinema lenses fell due to cancellation of events and shooting, but sales of monitoring zoom lens and surveillance camera with built-in zoom lens have risen year-over-year from the second quarter. Aiming to achieve business growth in this field, we are expanding our business domains and continuing to develop innovative products that satisfy the diverse needs of the market, including ultra-short-throw projectors and long-range surveillance cameras, and newly developed multispectral camera systems.
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Fujifilm Holdings Corporation published this content on 12 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2021 12:57:01 UTC.