Tablet - Fujifilm · I would like to explain once more about Avigan🄬Tablet. Avigan🄬tabletis a...

As for the performance of FUJIFILM Holdings for the fiscal year ended March 2020 revenueAs for the performance of FUJIFILM Holdings for the fiscal year ended March 2020, revenue totaled ¥2,315.1 billion, down 4.8% from the previous fiscal year, and operating income totaled ¥186.6 billion, down 11.1% from the previous fiscal year. Net income attributable to FUJIFILM Holdings totaled ¥125.0 billion, down 9.5% from the previous fiscal year.We assume a negative impact of COVID-19 to be ¥47.0 billion on revenue and ¥26.0 billion on operating income. Our business performance was greatly affected by the stagnation of economic activities and consumer activities due to the pandemic. As for the dividend for the fiscal year, we plan to pay an annual dividend of ¥ 95 as initially planned. y , p p y y pAs COVID-19 is expanding rapidly, we are working to ensure the health and safety of our employees and to contribute to the control and end of the pandemic as a company that develops a wide range of healthcare businesses. Okada will explain later about Avigan🄬Tablet developed by FUJIFILM Toyama Chemical, which is expected as a therapeutic drug. In addition to Avigan🄬 Tablet, FUJIFILM Wako Pure Chemical has developed a gene detection kit for the new coronavirus that shortened the time for PCR tests, and a gene detection reagent for the new coronavirus to be used in μTAS (Mutas) Wako g1, a fully automatic gene analyzer. Our medical systems business produces and supplies X-ray equipment and materials and ultrasound diagnostic devices used for diagnosis of pneumonia. In the bio CDMO business, we team with the COVID-19 Therapeutics Accelerator, a project initiated by the Bill & Melinda Gates Foundation etc. to promote therapies, in the contract process development and manufacturing of a future therapy.

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Next regarding the performance forecast for the fiscal year ending March 2021 it is difficult toNext, regarding the performance forecast for the fiscal year ending March 2021, it is difficult to make a reasonable estimate at this stage because of uncertainty about when the pandemic can be under control. We will make an announcement after carefully assessing its future impact on our business performance. Although our next medium-term management plan was also planned to be announced this month, we have decided to re-examine it by considering the business environment and economic situation after the end of the pandemic, while we will first focus on responding to the current situation and firmly solidifying the management base. Regarding our initiatives for FY2021/3 operationally and financially,in the healthcare field, we will accelerate growth by providing products and services to address COVID-19, by expanding Bio CDMO business and creating synergies in Medical Systems business with the acquired Diagnostic Imaging-related business of Hitachi Ltd. In the highly-functional materials field, we aim for business growth by supplying materials for PCs and Tablets, of which demands have increased due to expanded work from home and home study, and by providing materials necessary for semiconductor production, which supports technical advances such as 5G5G.In addition, in the document field, which will start as “FUJIFILM Business Innovation Corp.” from April 2021, we will evolve and develop business by accelerating a shift to Solutions & Services business, creating only one products, expanding OEM business and starting marketing activities to expand into the global market.In the Imaging Solutions, we will maintain their profitability as cash cow by offering various ways of enjoying photos with instax, print from smart phones and digital cameras.Financially we will maintain a sound capital structure by strengthening cash management.Financially we will maintain a sound capital structure by strengthening cash management.For capital investments and R&D investments, we will allocate cash forecast on growth areas such as Bio CDMO and Medical Systems business and necessary areas such as expenses related to the change of the brand for Fuji Xerox.We will also strengthen cash generation by managing ROIC and CCC in each division.Furthermore, we are setting up a short-term credit facility including a commitment line to prepare for potential urgent cash demand and securing a sound capital structure by maintaining a balance between cash flow and liabilities.

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a balance between cash flow and liabilities.As for shareholder returns, flexible share buy backs will be executed with a targeted dividend payout ratio of over 25%.We will overcome this difficult situation by “ALL-Fujifilm” while we work on profitability improvement of all businesses to promote stable cash generation.

I would like to explain once more about Avigan🄬 Tablet. Avigan🄬 tablet is a drug that was approved in Japan for manufacture and sale as an influenza antiviral drug in 2014.Since it has a mechanism to prevent the replication of the virus by selectively inhibiting its RNA polymerase, similar effects are expected for the new coronavirus, which is an RNA virus of the same species as the influenza virus.

Next, I would like to explain our initiatives.The first is corporate clinical trials in Japan and the United States.Although we obtained approval for manufacture and sale as an influenza antiviral drug in Japan, newapproval for manufacture and sale needs to be obtained as a therapy for COVID-19. We are conducting corporate clinical trials targeting COVID-19 patients in Japan and the United States.

The second is expansion of manufacturing capacity for Avigan🄬 Tablet.The Japanese government made a cabinet decision on the supplementary budget proposal to secure Avigan🄬 Tablet for 2 million patients including stockpiling for new influenza virus, which was approved by the Diet. We have also received many requests for supply from overseas.We have started to increase manufacturing capacity beginning April 2020 in order to promptly respond to these requests. Delivery for extra stockpiling required by Japanese Government will be completed within FY2021/3 by constant improvement of manufacturing capacity. As to establishing manufacturing capacity, we are enhancing manufacturing facilities for pharmaceuticals intermediate in FUJIFILM Wako Pure Chemical Corporation, our group company. Also, we will realize increase in

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p , g p p y ,manufacturing capacity through cooperation with companies like ingredient manufacutures.Through the above measures, we aim to provide a therapy for COVID-19.

Letʼs move on to detailed performance information for the fiscal year ended March 2020.

Consolidated revenue totaled ¥2,315.1 billion, down 4.8% from the previous fiscal year.Operating income totaled ¥186.6 billion, down 11.1% from the previous fiscal year.Income before income taxes came to ¥173.1 billion, down 18.7% from the previous fiscal year due to such factors as loss on revaluation of equitythe previous fiscal year due to such factors as loss on revaluation of equitysecurities.Net income attributable to FUJIFILM Holdings totaled ¥125.0 billion, down 9.5% from the previous fiscal year.

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Letʼs move on to segment specific information. Revenue and operating income of each segment are as shown here.income of each segment are as shown here.

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Regarding each segment, first, is our Healthcare & Material Solutions segment.

As for the negative impact of COVID-19, in medical systems, although overall sales was affected negatively due to factors such as refrained sales activities to hospitals and delayed business negotiations, sales increased for mobile X-ray imaging equipment and ultrasound diagnostic device for pneumonia tests. Graphic systems were also affected as business activities slowed down and printing demand for posters and leaflets declined due to self restraint of events. Bio CDMO, electronic materials and display materials were unaffected, and other businesses were slightly affected.As for the full-year performance of the healthcare field, in medical systems, revenue increased as sales were solid for such areas as medical IT, endoscopes and in-vitro diagnostics (IVD), and sales increased for mobile X-ray imaging equipment for pneumonia tests despite the restraint on business activities and delay in business negotiations.In bio CDMO, the contract process development and manufacturing business for biopharmaceuticals increased by the consolidation of Biogenʼs manufacturing subsidiary and enhancement of capacity. In regenerative medicine, revenue increased due to strong sales of culture media for biopharmaceuticals by FUJIFILM Irvine Scientific.As for the highly functional materials field, in display materials, although revenue decreased due to production adjustments of LCD panels, the sales of new products related to OLED etc. showed steady growth. Also, in this fiscal year, sales are increasing for materials for PC and tablets due to expanded work from home and home study.In electronic materials, though the sales of peripheral materials related to photolithography were affected by the market conditions of semiconductors, overall revenue increased assales were solid for products such as CMP slurries. In recording media, full-year revenue increased as the sales of magnetic tapes for high volume data storage such as FUJIFILM LTO Ultrium8 Data Cartridge increased.

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In the Healthcare & Material Solutions segment, though overall revenue decreased, sales increased in medical systems, bio CDMO and regenerative medicine. Operating income decreased.

I would like to talk about the Document Solutions segment.

COVID-19 had a negative impact on this segment, such as restraint on sales activities, delay in business negotiations, and a decrease in MFP operations due to office closures.

In the office products field within office products and printers, although the export to the U.S. and Europe and sales in China decreased, sales were solid through the year for the ApeosPort-VII C series, our flagship color multifunction devices. Although the 4th quarter performance was affected by COVID-19, the spread of work-from-home increased the demand for the Netprint® service using our multifunction printers installed at Seven-Eleven stores nationwide.

In solutions and services, full-year revenue increased due to increased sales of one-stop services that support the design, introduction, maintenance andone stop services that support the design, introduction, maintenance and management of IT environments in offices in Japan. In the 4th quarter, inquiries increased for the beat, a service that realizes a strong security and the easy, convenient network environment.

Though revenue in the Document Solutions segment decreased due to such factors as COVID-19 along with the economic slowdown in China and a decline in the export to the U S and Europe operating income increased and operating

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the export to the U.S. and Europe, operating income increased and operating income ratio became 11% by such factors as improvements in profitability and a positive impact from structural reforms.

I would like to present the results of our Imaging Solutions segment.

This segment was greatly affected by COVID-19. Due to production delays caused by such factors as a decline in the operation rate of our Chinese factories, the launch of the new product instax mini 11 was postponed in some regions, and sell-in for some digital cameras was delayed.Sales of the instax series of instant photo systems and the X series of mirrorless digital cameras also declined due to the decrease in the number of customers at retail stores and the closure of stores.

In addition, in photo imaging, full-year revenue decreased due to such factors as declined sales of photographic paper and inventory adjustments of instant photo systems at some U.S. retailers in the first half of the fiscal year. In instant photo systems, sell-through during the Xmas shopping season went up year on year, and sales were as expected for instax mini LiPlay and instax mini Link, a printer for smartphones, which offer a new way of enjoying instax.

In electronic imaging, full-year revenue decreased due to a COVID-19 impact, in addition to severe market conditions and a decline in the demand of entry-level mirrorless digital cameras.

In optical device, revenue decreased, reflecting the economic slowdown in China along with a declined demand for various industrial use lenses due to COVID-19.

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In the Imaging Solutions segment, revenue decreased compared to the previous fiscal year due to such factors as COVID-19, and operating income also decreased due to the decline in revenue.

One-time expenses in the document business including structural reform costs in the fiscal year ended March 2020 totaled ¥8.7 billion, while a positive impact from the structural reforms was ¥18.1 billion.

The cost and positive impact forecasted for the fiscal year ending March 2021, the final year of the structural reform announced in January 2018, will be announced along with the performance forecast.

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The annual dividend for the fiscal year ended March 2020 is planned to be ¥95 per share, as initially planned.

Share buyback of ¥51.6 billion in total was also executed in the fiscal year ended March 2020, achieving the ¥300.0 billion shareholder returns planned in VISION 2019.

The annual dividend forecasted for the fiscal year ending March 2021 is undecided at this time, and will be announced along with the performance forecast for the same period.

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Letʼs look at our balance sheet.

Assets as of the end of March 2020 totaled ¥3,321.7 billion, decreased by ¥93.0 billion from the end of March 2019 due to a decrease in cash and cash equivalents and other factors.

Liabilities increased by ¥158.1 billion to ¥1,327.9 billion, mainly due to i i b d d d b d h h ld ʼ ian increase in a corporate bond and debt, and shareholdersʼ equity

decreased by ¥83.7 billion to total ¥1,953.3 billion.

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Lastly, with regards to our cash-flow, Net cash provided by operating activities totaled ¥255.7 billion, increased by ¥6.4 billion year-on-year due to a decrease in notes and accounts receivable and other factors. Net cash used in investing activities amounted to ¥244.9 billion, mainlydue to such factors as acquisitions of businesses. As a result, free cash flow without acquisitions of businesses and others

¥135 7 billiwas ¥135.7 billion.

Due to uncertainties regarding the economic environment, etc., in the year ending March 2021, cash allocations for capital investment and so on will be prioritized and carefully executed by evaluating growth opportunities and investment efficiency. Through introduction of ROIC and CCC to business management we will strengthen cash generationand CCC to business management, we will strengthen cash generation and balance sheet management to maintain a sound financial position.

This concludes my explanation of the financial results for the year ended March 2020.

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Earnings for FY2020/3

AppendixAppendix

14

FY2020/3 AppendixFY2020/3 Appendix

Analysis of Operating Income ChangeAnalysis of Operating Income Changey p g gy p g g(Full(Full--year, against FY2019/3) year, against FY2019/3)

(Billions of yen)

-4.4210.0

-11.8

+18 1-13.2190.0

209.8-21.4

+7.4

+18.1+2.9 -0.8

186.6170.0

150.0FY2019/3 Healthcare Document Imaging Difference of Structural FX Raw Others FY2020/3

0FY2019/3

ActualHealthcare

&Material

Document Imaging Difference of structural

reformexpenses inDocument

Structural reform

positiveimpact inDocument

FX Rawmaterial

price

Others FY2020/3Actual

15


Analysis of Operating Income ChangeAnalysis of Operating Income Change

220 0

y p g gy p g g(Full(Full--year, against FY2020/3 earnings forecast) year, against FY2020/3 earnings forecast)

(Billions of yen)

-12.3

220.0

-15.0

-9.70 1 +2 1

200.0

220.0+1.3 +0.1 -0.7 +0.8 +2.1

180.0

186.6160.0

140.0FY2020/3 Healthcare Document Imaging Structural Structural FX Raw Others FY2020/3

0Earnings forecast

&Material

reformexpenses

reformpositiveimpact

material price

Actual

16


Earnings forEarnings for FY2020/3 Q4/Full YearFY2020/3 Q4/Full YearEarnings for Earnings for FY2020/3 Q4/Full YearFY2020/3 Q4/Full Year

(Billions of yen)

FY2019/3 FY2020/3 Change FY2019/3 FY2020/3 Change

Q4 Full year

FY2019/3 FY2020/3 Change FY2019/3 FY2020/3 Change

631.7 586.7 (45.0) 2,431.5 2,315.1 (116.4)100.0% 100.0% -7.1% 100.0% 100.0% -4.8%

Revenue

51.5 35.0 (16.5) 209.8 186.6 (23.2)8.1% 6.0% -32.1% 8.6% 8.1% -11.1%

58 2 6 6 (51 6) 212 8 173 1 (39 7)Income before

Operating Income

58.2 6.6 (51.6) 212.8 173.1 (39.7)9.2% 1.1% -88.8% 8.8% 7.5% -18.7%

37.0 4.3 (32.7) 138.1 125.0 (13.1)5 9% 0 7% 88 3% 5 7% 5 4% 9 5%

Income before Income Taxes

Net Income Attributable toFUJIFILM Holdings 5.9% 0.7% -88.3% 5.7% 5.4% -9.5%

¥110 ¥109 (¥1) ¥111 ¥109 (¥2)¥125 ¥120 (¥5) ¥128 ¥121 (¥7)

Exchange US$/￥Rates 　　 €/¥

FUJIFILM Holdings

17

〈Other factors of change (Q4/full year YoY) 〉 Operating income --- Raw material prices: - ¥0.1 billion / + ¥2.9 billion


Earnings forEarnings for FY2020/3 Q4/Full YearFY2020/3 Q4/Full YearEarnings for Earnings for FY2020/3 Q4/Full YearFY2020/3 Q4/Full Year(Billions of yen)

RQ4 Full Year

FY2019/3 FY2020/3 FY2019/3 FY2020/3

Healthcare 141.4 153.3 11.9 (+8.6%) 484.3 504.1 19.8 (+4.1%)

280 1 283 0 2 9 (+1 0%) 1 039 0 1 024 2 (14 8) (-1 4%)

Revenue

Healthcare & MaterialSolutions

Change Change

280.1 283.0 2.9 (+1.0%) 1,039.0 1,024.2 (14.8) ( 1.4%)

268.5 237.2 (31.3) (-11.6%) 1,005.6 958.3 (47.3) (-4.7%)

83.1 66.5 (16.6) (-20.0%) 386.9 332.6 (54.3) (-14.0%)

631.7 586.7 (45.0) (-7.1%) 2,431.5 2,315.1 (116.4) (-4.8%)

Imaging Solutions

Document Solutions

Total

Solutions

N t Aft li i ti f i t t t ti

(Billions of yen)

FY2019/3 FY2020/3 FY2019/3 FY2020/3

Q4

Note: After elimination of intersegment transactions

Operating Income[Operating Margin] ChangeChange

Full Year

15.9 13.1 33.3 33.1[11.1%] [8.5%] [6.8%] [6.6%]

27.6 21.6 97.6 92.4[9.9%] [7.6%] [9.4%] [9.0%]

Healthcare

(6.0)Healthcare & Material

Solutions(-5.3%)(-21.7%)

(0.2)

(5.2)

(-17.3%) (-0.8%)(2.8)

29.5 24.5 96.4 105.0[11.0%] [10.3%] [9.6%] [11.0%]

3.1 (2.3) 51.1 25.1[3.7%] [-3.5%] [13.2%] [7.5%]

(8 7) (8 8) (0 1) (35 3) (35 9) (0 6)

Imaging Solutions -

Corporate Expenses &

Document Solutions (5.0) 8.6(-16.9%)

(-51.0%)

(+9.0%)

(5.4) (26.0)

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(8.7) (8.8) (0.1) - (35.3) (35.9) (0.6) -

51.5 35.0 209.8 186.6[8.1%] [6.0%] [8.6%] [8.1%]

(16.5) (-32.1%)

p pEliminations

Total (23.2) (-11.1%)


Earnings forEarnings for FY2020/3 Q4/Full YearFY2020/3 Q4/Full Year

Healthcare & Material SolutionsHealthcare & Material Solutions

Earnings for Earnings for FY2020/3 Q4/Full YearFY2020/3 Q4/Full Year

(Billions of yen)

141 4 153 3 11 9 (+8 6%) 14 3 (+10 2%) 484 3 504 1 19 8 (+4 1%) 30 1 (+6 2%)

FY2019/3Change Constant-currencybasis

Constant-currencybasis

FY2020/3FY2020/3

Full Year

RevenueFY2019/3 Change

Healthcare

Q4

141.4 153.3 11.9 (+8.6%) 14.3 (+10.2%) 484.3 504.1 19.8 (+4.1%) 30.1 (+6.2%)

Display Materials 21.2 17.8 (3.4) (-16.1%) (3.4) (-16.1%) 98.2 85.5 (12.7) (-13.0%) (12.7) (-13.0%)

Industrial ProductsElectronic Materials

Fine Chemical45.4 48.0 2.6 (+5.7%) 3.2 (+7.2%) 179.8 177.9 (1.9) (-1.0%) 1.7 (+1.0%)

Highly Functional66 6 65 8 (0 8) ( 1 2%) (0 2) ( 0 2%) 278 0 263 4 (14 6) ( 5 3%) (11 0) ( 4 0%)

Healthcare

g yMaterials 66.6 65.8 (0.8) (-1.2%) (0.2) (-0.2%) 278.0 263.4 (14.6) (-5.3%) (11.0) (-4.0%)

11.6 9.5 (2.1) (-18.2%) (1.9) (-16.8%) 38.8 41.9 3.1 (+7.8%) 4.1 (+10.3%)

60.3 54.1 (6.2) (-10.4%) (5.2) (-8.6%) 236.7 213.6 (23.1) (-9.8%) (17.4) (-7.4%)

0.2 0.3 0.1 0.1 1.2 1.2 0.0 0.0

Graphic Systems/Inkjet

Recording Media

Others

280.1 283.0 2.9 (+1.0%) 7.1 (+2.5%) 1,039.0 1,024.2 (14.8) (-1.4%) 5.8 (+0.6%)


(Billions of yen)

Full Year

Ch

Q4

Constant-currencyFY2019/3 FY2020/3FY2020/3 Ch

Operating Income[Operating Margin] FY2019/3 Constant-currency

Total

15.9 13.1 33.3 33.1[11.1%] [8.5%] [6.8%] [6.6%]

27.6 21.6 97.6 92.4 (5.2) (-5.3%) (1.3) (-1.3%)

Change

(-0.8%)


1.6 (+4.6%)

FY2019/3 FY2020/3

(0.2)

(-21.7%)

(-17.3%) (2.8) (-17.3%)

FY2020/3 Change

(5.9) (-21.4%)Healthcare & Material

Solutions (6.0)

(2.8)

[Operating Margin] FY2019/3

Healthcare


19

[9.9%] [7.6%] [9.4%] [9.0%]( ) ( )( )Solutions ( )

Change in Quarterly Earnings byChange in Quarterly Earnings by SegmentSegment


Healthcare & Material SolutionsHealthcare & Material Solutions

Change in Quarterly Earnings by Change in Quarterly Earnings by Segment Segment

280.1265.1

283.0300.0

(Billions of yen)Revenue

Operating Income

141.43 3

227.6

248.540.0

250.0

Display Materials

Healthcare

104.1

126.3120.4

153.3

27.6

26.1 25.821 6

30.0

150.0

200.0

(9.9%)

(9.9%) (10 4%) Recording Media

Industrial ProductsElectronic MaterialsFine Chemical

45.4 44.044 7 48 0

21.2

20.825.4

21.5 17.818.9

21.620.0

100.0

150.0

(8.3%)

(9.9%) (10.4%)

(7.6%) Graphic SystemsInkjet

Recording Media

Oth

60.3 51 5 55.5 52.5 54.1

11.69.7

13.5 9.2 9.5

41.2 44.7 48.0

10.0

50.0Operating Income for Healthcare & Material

Others

51.5 52.5 54.1

0.00.018.Q4 19.Q1 19.Q2 19.Q3 19.Q4

20

Solutions(Operating Margin)



Document SolutionsDocument Solutions


(Billions of yen)

Revenue

Full YearQ4

Constant-currencyChange Constant-currency FY2019/3 FY2020/3 ChangeFY2019/3 FY2020/3

Office Printers 32.3 29.0 (3.3) (-10.0%) (2.8) (-8.6%) 126.5 118.1 (8.4) (-6.6%) (6.8) (-5.3%)

143.5 124.7 (18.8) (-13.0%) (16.7) (-11.6%) 569.1 531.2 (37.9) (-6.6%) (29.6) (-5.2%)Office Products & Printers

ybasis

Change Constant currencybasis

FY2019/3 FY2020/3 ChangeFY2019/3 FY2020/3

32.6 28.1 (4.5) (-14.0%) (4.0) (-12.3%) 123.3 116.5 (6.8) (-5.5%) (4.4) (-3.6%)

76.9 71.5 (5.4) (-7.0%) (4.3) (-5.6%) 261.2 273.3 12.1 (+4.7%) 16.8 (+6.5%)

15 5 12 9 (2 6) (2 3) 52 0 37 3 (14 7) (13 4)

Production Services

Solutions & Services

Others 15.5 12.9 (2.6) (2.3) 52.0 37.3 (14.7) (13.4)

268.5 237.2 (31.3) (-11.6%) (27.3) (-10.1%) 1,005.6 958.3 (47.3) (-4.7%) (30.6) (-3.0%)


(Billions of yen)

Total

Others

Full Year

29.5 24.5 96.4 105.0


ChangeFY2019/3 FY2020/3

13 7 ( 14 3%)8 6 ( 9 0%)

Operating Income[Operating Margin]

D t S l ti (3 6) ( 12 2%)( 16 9%)(5 0)

FY2019/3 FY2020/3 Change

Q4


21

29.5 24.5 96.4 105.0[11.0%] [10.3%] [9.6%] [11.0%]

13.7 (+14.3%)8.6 (+9.0%)Document Solutions (3.6) (-12.2%)(-16.9%)(5.0)



Document SolutionsDocument Solutions (Billions of yen)


268.5

252.2237 2

Revenue Operating Income

143.5

233.1 235.8 237.2

40.0200.0Office Products & Office Printers

133.7

139.4133.4 124.7

29.5

33.2

25 6(13.2%)

Office Products & Office Printers

Production Services


32.6

27.331.5

29.628.1

21.7

25.624.5

20.0100.0

(11.0%)(9.3%)

(10.9%) (10.3%)


Operating Income for Doc ment Sol tions

Others

76.962.5 74.1 65.2

71.5

Operating Income for Document Solutions(Operating Margin)

0.00.018.Q4 19.Q1 19.Q2 19.Q3 19.Q4

22



Imaging SolutionsImaging Solutions


(Billions of yen)

Full YearQ4

ConstantFY2020/3 Change

Constant currencyChange FY2019/3

RevenueFY2019/3 FY2020/3

g gg g

Photo Imaging 53.8 45.4 (8.4) (-15.5%) (7.2) (-13.4%) 257.5 228.9 (28.6) (-11.1%) (21.0) (-8.2%)

Electronic Imaging 19.9 14.3 (5.6) (-28.6%) (5.1) (-26.1%) 90.6 72.0 (18.6) (-20.5%) (15.5) (-17.1%)

Optical Devices 9 4 6 8 (2 6) (-28 1%) (2 5) (-26 8%) 38 8 31 7 -7 1 (-18 3%) (6 3) (-16 2%)

Constant-currency basis


Optical Devices 9.4 6.8 (2.6) (-28.1%) (2.5) (-26.8%) 38.8 31.7 -7.1 (-18.3%) (6.3) (-16.2%)

Optical Device &Electronic Imaging

Products29.3 21.1 (8.2) (-28.4%) (7.6) (-26.3%) 129.4 103.7 (25.7) (-19.9%) (21.8) (-16.9%)

83 1 66 5 (16 6) (-20 0%) (14 8) (-18 0%) 386 9 332 6 (54 3) (-14 0%) (42 8) (-11 1%)Total 83.1 66.5 (16.6) (-20.0%) (14.8) (-18.0%) 386.9 332.6 (54.3) (-14.0%) (42.8) (-11.1%)


(Billions of yen)

Full YearQ4

Total

Operating Income

3.1 -2.3 51.1 25.1[3.7%] -[3.5%] [13.2%] [7.5%]

Change Constant-currencybasis

(5.0) -

Change

-(5.4)Imaging Solutions

Operating Income[Operating Margin] FY2019/3 FY2020/3 Constant-

currency basis

FY2019/3 FY2020/3

(21.6) (-42.3%)(26.0) (-51.0%)[ %] [ %] [ %] [ %]

23




Imaging SolutionsImaging Solutions (Billions of yen)

112.0

Imaging SolutionsImaging Solutions (Billions of yen)

Revenue Operating Income

83.179 5

30.0100.0

Photo Imaging

53.883.0

74.679.5

66.517.320.0

75.0

(15.4%)

g g

ElectronicImaging Optical Device &

Electronic Imaging

46.9 53.6

45.43.14.5

5.610.050.0

(7.1%)Operating Income for Imaging Solutions(O ti M i )

Optical Devices

Products

19.9 19.6 17.4 20.7 14.3‐2.3

0.025.0(3.7%)

(6.0%)

(-3.5%)

(Operating Margin)

9.4 8.1 8.5 8.3 6.8‐10.00.0

18.Q4 19.Q1 19.Q2 19.Q3 19.Q424

RevenueRevenue by Destinationby Destination


Revenue Revenue by Destinationby Destination

(Billions of yen)

Ratio (%) Ratio (%)

FY2020/3Change

FY2019/3

41.4% 1,006.5 43.4% 1,004.0 (2.5) (-0.2%)

19 1% 463 4 18 3% 424 3 (39 1) (-8 4%)

Japan

The Americas 19.1% 463.4 18.3% 424.3 (39.1) ( 8.4%)

13.0% 315.7 12.8% 296.6 (19.1) (-6.0%)Europe

The Americas

China 12.2% 296.5 11.7% 271.3 (25.2) (-8.5%)

Asia and others 26.6% 645.9 25.5% 590.2 (55.7) (-8.6%)

Overseas 58.6% 1,425.0 56.6% 1,311.1 (113.9) (-8.0%)

100 0% 2 431 100 0% 2 31 1 (116 4) ( 4 8%)

25

100.0% 2,431.5 100.0% 2,315.1 (116.4) (-4.8%)Consolidated total

CapitalCapital ExpenditureExpenditure Depreciation & AmortizationDepreciation & Amortization


75 4

85.7

80 0

90.0

Capital Capital Expenditure, Expenditure, Depreciation & AmortizationDepreciation & AmortizationCapital Expenditure (Full Year)

(Billions of yen)

42.750.5

58.2

67.5

75.4

50.0

60.0

70.0

80.0Q4

FY2018/3

FY2019/3

FY2020/3

FY2018/3

FY2019/3

FY2020/3

Healthcare & Material 15 4 20 5 17 0 42 7 50 5 58 2

Full year

10 6 12 5

13.8 11.7 13.4

10.0

20.0

30.0

40.0Healthcare & Material 15.4 20.5 17.0 42.7 50.5 58.2Document 1.9 3.8 5.7 13.8 11.7 13.4Imaging 3.2 3.9 3.8 9.4 10.6 12.5Corporate 0.7 0.7 0.5 1.6 2.6 1.6

127.6 129.9122 7

9.4 10.6 12.5

0.0FY

2018/3FY

2019/3FY

2020/3

Depreciation & Amortization (Full Year)

Capex * 21.2 28.9 27.0 67.5 75.4 85.7Healthcare & Material 14.7 17.5 16.5 57.5 63.1 63.9Document 13.8 12.4 10.0 54.7 50.1 41.8Imaging 3 5 3 5 3 8 13 3 14 1 14 6

57.5 63.163.9

122.7

80.0

100.0

120.0Imaging 3.5 3.5 3.8 13.3 14.1 14.6Corporate 0.3 0.9 0.6 2.1 2.6 2.4

32.3 34.3 30.9 127.6 129.9 122.7 Depreciation& Amortization

54.7 50.1 41.840.0

60.0

*Note : Figures do not include amounts for rental equipmenthandled by the Document Solutions segment and others.

DocumentHealthcare & Material

17.1 20.0 17.4 66.5 70.9 68.6 Depreciation *

13.3 14.1 14.60.0

20.0

FY2018/3

FY2019/3

FY2020/3

26

ImagingDocument

Corporate

R&D Expenses SG&A ExpensesR&D Expenses SG&A Expenses


R&D Expenses, SG&A ExpensesR&D Expenses, SG&A Expenses

R&D Expenses (Full Year) (Billions of yen)

　 Q4 Full Year

69 8 69.5

156.1 157.9

120 0

140.0

160.0 FY2019/3 FY2020/3 FY2019/3 FY2020/3

Healthcare & Material 18.9 18.1 69.8 69.5

Document 12 0 12 3 51 2 50 7

51 2 50.7

69.8 69.5

60 0

80.0

100.0

120.0 Document 12.0 12.3 51.2 50.7

Imaging 2.7 2.2 9.9 10.1

Corporate 6.7 7.3 25.2 27.6

25.2 27.6 9.9 10.1

51.2 50.7

0 0

20.0

40.0

60.0 　R&D Expenses 40.3 39.9 156.1 157.9

6.4% 6.8% 6.4% 6.8%

151.3 156.5 631.6 610.0

　<ratio to revenue>

　SG&A Expenses0.0 FY2019/3 FY2020/3

DHealthcare & Material

24.0% 26.6% 26.0% 26.3% <ratio to revenue>

p

27

ImagingDocument

Corporate

ExchangeExchange RatesRates Raw Material Prices and Number of EmployeesRaw Material Prices and Number of Employees


Exchange Exchange Rates, Rates, Raw Material Prices, and Number of EmployeesRaw Material Prices, and Number of Employees

Exchange Rates (yen)

Q1 Q2 Q3 Q4 Full year Q1 Q2 Q3 Q4 Full year

FY2020/3FY2019/3

US$/¥ 109 111 113 110 111 110 107 109 109 109

€/¥ 130 130 129 125 128 123 119 120 120 121

Raw Material Prices　(Average) (¥1,000/kg)

Q1 Q2 Q3 Q4 F ll Q1 Q2 Q3 Q4 F ll

FY2020/3FY2019/3

Q1 Q2 Q3 Q4 Full year Q1 Q2 Q3 Q4 Full year

Silver 58 54 53 55 55 53 57 60 61 57

Number of Employees2019.Mar 2019.Jun 2019.Sep 2019.Dec 2020.Mar

72,332 72,358 72,842 73,092 73,906Consolidated Total

28

, , , , ,

PipelinePipeline (as of May 22 2020)(as of May 22 2020)


Pipeline Pipeline (as of May 22, 2020)(as of May 22, 2020)

Development code

Therapeutic category Formulation Region Development stage

J A d

T-705

Anti-influenza drug

Oral

Japan Approved

U.S.A. PⅢ

Anti-COVID-19 drugJapan ＰⅢ

U.S.A. PⅡ

Severe fever with thrombocytopenia syndrome virus drug Japan PⅢy p y g

T-3811 Quinolone synthetic antibacterial drug Oral China Approved

T-817MAAlzheimer's disease drug

Oral

U.S.A. PⅡ

Japan PⅡ

Europe PⅡ

Functional recovery after stroke （Promoting the effect of rehabilitation） Japan PⅡ

T-4288 New fluoroketolide antibacterial drug Oral JapanSubmitted an application for permission

FF-10501 Myelodysplastic syndrome drug OralJapan PⅠ

U S A PⅡU.S.A. PⅡ

FF-10502 Advanced/recurrent solid cancer drug Injection U.S.A. PⅡ

FF-21101 Advanced/recurrent solid cancer drug (Armed antibody) InjectionU.S.A. PⅠ/Ⅱa

Japan PⅠ

F 1311 Di ti d f t t (R di h ti l )

Bio

F-1311 Diagnostic drug for prostate cancer (Radiopharmaceuticals) Injection Japan PⅡ

FF-10101 Acute Myeloid Leukemia (AML) drug Oral U.S.A. PⅠ

F-1515 Anti-tumor (neuroendocrine tumors) drug (Radiopharmaceuticals) injection Japan PⅠ/Ⅱ

FF-10832 Advanced solid cancer drug (Gemcitabine liposome） Injection U S A PⅠ

29292929

FF-10832 Advanced solid cancer drug (Gemcitabine liposome） Injection U.S.A. PⅠ

FF-10850 Advanced solid cancer drug (Topotecan liposome） Injection U.S.A. PⅠ

F-1614 Anti-tumor (pheochromocytoma) drug (Radiopharmaceuticals) Injection Japan PⅡ

AppendixAppendix


AppendixAppendix

FUJIFILM HoldingsFUJIFILM Holdings －－ Investor RelationsInvestor RelationsFUJIFILM Holdings FUJIFILM Holdings Investor RelationsInvestor Relationshttps://ir.fujifilm.com/en/investors.html

FUJIFILM HoldingsFUJIFILM Holdings IntegratedIntegrated ReportReport 20192019

IR Events MaterialsIR Events Materials

FUJIFILM Holdings FUJIFILM Holdings Integrated Integrated Report Report 20192019https://ir.fujifilm.com/en/investors/ir-materials/integrated-report.html

Business Activities of FUJIFILM GroupBusiness Activities of FUJIFILM Group

IR Events MaterialsIR Events Materialshttps://ir.fujifilm.com/en/investors/ir-materials/presentations.html

30

Business Activities of FUJIFILM GroupBusiness Activities of FUJIFILM Group

Global Branding Campaign: NEVER STOPGlobal Branding Campaign: NEVER STOP

https://ir.fujifilm.com/en/investors/value/business.html

Global Branding Campaign: NEVER STOPGlobal Branding Campaign: NEVER STOPhttps://brand.fujifilm.com/neverstop/en/

30

Response to the COVIDResponse to the COVID--19 Pandemic19 PandemicResponse to the COVIDResponse to the COVID 19 Pandemic19 Pandemichttps://brand.fujifilm.com/covid19/

At F jifil ti l i ti tiAt Fujifilm, we are continuously innovating — creatingnew 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 Communication Office, Corporate Planning Div.

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