FUJIFILM Holdings Corporation (FUJIY Quick QuoteFUJIY - Free Report) reported a fourth-quarter fiscal 2025 (ended March 31, 2026) net income of ¥83.4 billion compared with ¥79.4 billion in the year-ago quarter.

Revenues of ¥927.3 billion jumped 6.8% year over year. The company generated record fourth-quarter revenues and net income. Revenue growth was primarily driven by the Healthcare segment, supported by contributions from newly launched Bio CDMO facilities in Denmark. The Electronics segment also delivered strong performance, fueled by robust sales of Semiconductor Materials, particularly CMP slurries, while the Imaging segment benefited from solid demand for digital cameras and related products.

Fiscal 2026 revenues increased 5% year over year to ¥3357 billion. Net income was ¥276.7 billion, up 6% year over year.

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 fourth quarter of fiscal 2025, the Healthcare segment generated revenue of ¥333.6 billion, up 5.4% year over year, while operating income declined 34.7% to ¥29.7 billion due to upfront costs associated with new Bio CDMO facilities and higher raw material prices. Within the segment, Medical Systems revenue increased 5.4% to ¥217.1 billion, driven by strong sales of endoscopes in the United States, Europe, Japan and China, as well as solid demand for CT, MRI and IVD products. Bio CDMO revenue rose 1.2% to ¥73.9 billion, supported by the expansion of operations at new large-scale facilities, although revenue from small- to medium-scale facilities declined due to delays in securing early-stage projects and the absence of cancellation fees recorded in the prior year. LS Solutions revenue increased 14% to ¥42.6 billion, driven by strong sales of culture media and reagents amid improving market conditions.

The Electronics segment delivered strong quarterly performance, with revenue increasing 27.4% year over year to ¥127.5 billion and operating income surging 74% to ¥30.7 billion. Semiconductor Materials revenue rose 29.3% to ¥81.7 billion, supported by strong demand for AI semiconductors, significant growth in CMP slurry sales and robust demand for liquid-type polyimides used in advanced packaging applications. Sales to major foundries and semiconductor manufacturers in the United States and South Korea also recovered strongly. AF Materials revenue increased 24.1% to ¥45.8 billion, driven by strong sales of OLED materials, new display materials and higher data tape sales to major IT customers.

Fujifilm Holdings Corp. Price, Consensus and EPS Surprise

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The Business Innovation segment reported revenue of ¥324.8 billion, down 3.5% year over year, while operating income decreased 15.4% to ¥27 billion. Business Solutions revenue increased 6.8% to ¥108 billion, supported by higher sales of DX solutions and increased services provided to Japanese municipalities. Office Solutions revenue declined 12.5% to ¥125.9 billion due to weak market conditions in the Asia-Pacific region, lower sales of low-margin models and reduced exports to Europe and the United States. Graphic Communications revenue edged down 0.7% to ¥90.9 billion as weaker demand for printing plates and related products in Europe partly offset strong sales of xerographic machines in new markets.

The Imaging segment performed strongly in the fourth quarter, with revenue rising 22.6% year over year to ¥141.4 billion, while operating income increased 1.1% to ¥24.5 billion. Consumer Imaging revenue grew 26.2% to ¥82.2 billion, driven by strong sales of instax instant photo systems, including instax mini 12, instax mini Evo, instax WIDE 400 and instax Link 3, along with improved supply following capacity enhancements at instax film production facilities. Professional Imaging revenue increased 18% to ¥59.1 billion, supported by robust sales of FUJIFILM X Series and GFX Series digital cameras, including the X-T30 III.

FUJIY’s Operating Details

In the fiscal fourth quarter, selling, general and administrative expenses increased 25.5% to ¥236.1 billion. Research and development expenses jumped 4.2% to ¥38.8 billion.

Operating income increased 11% year over year to ¥101.8 billion.

FUJIY’s Balance Sheet & Cash Flow

As of March 31, 2026, cash and cash equivalents were ¥170.6 billion, up from ¥188.1 billion as of Dec 31, 2025.

Total debt was ¥894.9 billion as of March 31, 2026, compared with ¥941.3 billion as of Dec. 31, 2025.

FUJIFILM plans to pay an annual dividend of ¥75 per share for fiscal 2026, reflecting a ¥5 year-over-year increase and marking its 17th consecutive year of dividend growth.

FUJIY’s Guidance

FUJIFILM expects fiscal 2026 to deliver record-high results, supported by pricing initiatives and other measures to offset rising raw material costs, particularly semiconductor memory and silver prices. The company forecasts revenue of ¥3,470 billion, up 3.4% year over year from ¥3,357 billion in fiscal 2025.

Operating income is projected to increase 4.2% to ¥365 billion, while income before income taxes is expected to rise 2.3% to ¥375 billion. Net income attributable to FUJIFILM Holdings is forecast at ¥280 billion, up 1.2% year over year. EPS is projected at ¥234.19 compared with ¥229.65 in fiscal 2025.

By segment, Healthcare revenue is expected to increase 6.5% year over year to ¥1,170 billion, supported by the expansion of operations at new Bio CDMO facilities, while operating income is projected to rise 8.4% to ¥69 billion. Electronics revenue is forecast to grow 4.1% to ¥475 billion, driven by increased semiconductor materials sales, with operating income expected to increase 5.1% to ¥106 billion. Imaging revenue is expected to remain nearly flat at ¥1,175 billion, while operating income is projected to edge up 2% to ¥65 billion. Business Innovation revenue is forecast to rise 3.7% to ¥650 billion, with operating income expected to increase 1.2% to ¥162 billion.

Zacks Rank & Price Performance of FUJIY

Currently, FUJIFILM has a Zacks Rank #2 (Buy). In the past year, shares have lost 14.6% against the Zacks Semiconductor Equipment – Photomasks industry’s growth of 162.6%. 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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