FUJIFILM Holdings Corporation (FUJIY Quick QuoteFUJIY - Free Report) reported a third-quarter fiscal 2025 (ended Dec. 31, 2025) net income of ¥73.1 billion compared with ¥71.2 billion in the year-ago quarter.

Revenues of ¥857.4 billion jumped 5.5% year over year. The company generated record third-quarter revenues, operating income and net income. Revenue growth was driven primarily by the Healthcare segment, supported by the launch of new facilities in Denmark for the Bio CDMO business. Additional momentum came from the Electronics segment, driven by strong demand for semiconductor materials, including CMP slurries, and from the Imaging segment, where digital cameras and related products delivered a robust sales performance.

Segment Details of FUJIY

In June 2024, the company established the Advanced Functional Materials division by integrating its display materials, industrial products and fine chemicals businesses.

In the fiscal third quarter, Healthcare segment revenues were ¥266.1 billion, up 7.7% from the year-ago quarter.

Within Healthcare, Medical Systems revenues were up 4.7% year over year to ¥170.2 billion. Revenues increased, driven by strong sales of endoscopes, medical IT systems and in-vitro diagnostics (IVD) products, partly offset by weaker demand for medical consumables in China.

Bio CDMO revenues were up 18.5% to ¥60.8 billion. Revenues grew primarily due to the commencement of operations at the new Danish facilities, partially offset by delays in securing early-stage projects for small- to medium-scale facilities.

Life sciences revenues grew 5.8% to ¥35.2 billion, driven by a rebound in the culture media market and robust sales of reagents.

Fujifilm Holdings Corp. Price, Consensus and EPS Surprise

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In the Electronics segment, revenues amounted to ¥119.2 billion, up 17% year over year. Semiconductor Materials revenues rose 25.5% to ¥77.7 billion. Revenues grew on the back of strong sales in advanced applications, particularly in CMP slurry, as well as robust demand for polyimides used in advanced packaging applications.

AF materials revenues amounted to ¥41.5 billion, up 3.9% year over year. This was due to higher data tape sales to major IT companies and strong sales of TAC film and other materials in the Display Materials segment.

The Business Innovation Solutions segment’s revenues were ¥277.8 billion, decreasing 5.6% from the year-ago quarter’s figure. Business solutions moved up 3.7% on a year-over-year basis to ¥80.8 billion. Revenues were supported by strong sales of digital transformation (DX) solutions, partly offset by a normalization following last fiscal year’s one-time surge in service demand from Japanese municipalities.

Office solutions decreased 11.4% on a year-over-year basis to ¥115.7 billion. The decline resulted from sluggish market conditions in the Asia-Pacific region, a reduction in low-margin models and lower export volumes to Europe and the United States.

Graphic Communications revenues decreased 5.3% year over year to ¥81.4 billion. This was due to a fall in demand for printing plates and related products, which declined amid weak market conditions in Europe.

The Imaging Solutions segment’s revenues were ¥194.2 billion, up 14.6% from the year-ago quarter’s level. Consumer Imaging and Professional Imaging revenues rose 11.3% and 20.8% on a year-over-year basis to ¥123 billion and ¥71.2 billion, respectively. In Consumer Imaging, performance was driven by strong sales of instax instant photo systems, including solid demand for mini 12, mini Evo, and the newly launched mini 41, as well as instax WIDE 400 and instax WIDE Evo. Results were further supported by increased supply following capacity enhancements at instax film production facilities.
In Professional Imaging, strong sales of FUJIFILM X Series and GFX Series digital cameras continued, with new products such as the GFX100RF, X half, X-E5 and X-T30 III contributing meaningfully to growth.

FUJIY’s Operating Details

In the fiscal third quarter, selling, general and administrative expenses increased 5% to ¥215.8 billion. Research and development expenses jumped 2.2% to ¥41.7 billion.

Operating income increased 2.6% year over year to ¥90 billion, supported by higher gross margins from revenue growth and favorable exchange-rate effects, partially offset by additional U.S. tariffs and higher raw material costs.

FUJIY’s Balance Sheet & Cash Flow

As of Dec. 31, 2025, cash and cash equivalents were ¥188.1 billion, up from ¥160.9 billion as of Sep 30, 2025.

Total debt was ¥941.3 billion as of Dec. 31, 2025, compared with ¥791 billion as of Sept. 30, 2025.

For full-year 2025, FUJIFILM is planning an annual dividend of ¥70 per share, marking the 16th consecutive year of dividend increases.

FUJIY’s Guidance

FUJIFILM reiterated its revenue forecast, while raising its projections for operating income and net income attributable to the company.

The company still expects revenues of ¥3,300 billion for fiscal 2025, indicating growth of 3.3% year over year. The company now projects operating income to be ¥335 billion, up from previous guidance of ¥331 billion and implying an increase of 1.5% year over year. Net income is now expected to increase 1.4% year over year to ¥264.5 billion from the prior view of ¥262 billion.

For fiscal 2025, revenues from the Healthcare and Business Innovation segment are anticipated to be ¥1,090 billion and ¥1175 billion, down from the prior view of ¥1,100 billion and ¥1210 billion, respectively.

Revenues from the Electronics and Imaging Solutions Segment are now expected to be ¥445 billion and ¥590 billion, respectively. Earlier, the company had anticipated revenues from the Electronics and Imaging Solutions Segment to be ¥420 billion and ¥570 billion, respectively.

Zacks Rank of FUJIY

Currently, FUJIFILM has a Zacks Rank #4 (Sell). In the past year, shares have lost 1.7% against the Zacks Semiconductor Equipment – Photomasks industry’s growth of 52.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Image Source: Zacks Investment Research

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