FID: Fuji Profits Tumble / Re-Org

[bmattock]

This is more of the usual - bad news for the photographic film industry. I present it more in terms of reportage than in terms of open warfare or "digital versus film" or anything else. However, if reading the truth makes your blood pressure rise, don't read this.

http://www.letsgodigital.org/en/news/articles/story_7642.html

Fujifilm annual operating profit fell 57 percent
Mark Peters : May 2nd 2006 - 12:30 CET

Fujifilm annual operating profit fell 57 percent : Japanese Fuji Photo Film said its annual operating profit fell 57%, weighed down by charges for lay-offs and film production cuts, and it forecast a slower-than-expected recovery this year. The company also said it would adopt a new company name, Fujifilm, in line with its brand name for camera film in October, when it plans to create a new holding company. "In any country you go, you can see signs for Fujifilm. It's a worldwide brand," Fuji Photo Film President Shigetaka Komori said. The world's second-largest camera film maker after U.S.-based Eastman Kodak suffers from a shrinking camera film market, even though that business now accounts for less than 10 percent of its sales.

http://www.adorama.com/catalog.tpl?op=NewsDesk_Internal&article_num=050206-2

Tuesday, May 2 2006

Fuji profits tumble as film sales slide

A dramatic indicator of how deeply draditional film photography has been eroded by digital comes from Fuji Photo Film, the world's largest camera film maker. The company announced its annual operating profit fell 57 percent.

The grim news is blamed on several factors:
1. Consumers are abandoning film cameras for digital in growing numbers.
2. The price of raw materials needed for production of film has risen.
3. Fuji is spending a lot of money to restructure its color film and digital camera operations; this includes the elimination of 5,000 jobs.

The company is warning consumers to brace themselves for rising prices for photosensitized products due to a rapid increase in the cost of silver and oil, according to a statement released by the Fuji. Specifics have apparently not been determined yet.

While Fuji still makes film, it accounts for a fraction of its business. Other areas the company is involved in includes office machines, medical equipment, flat panel displays, and of course digital cameras.

While Fuji is dealing with its financial picture, Canon and Sony also announced earnings, which were up due to brisk sales of digital cameras.

© 2006 Adorama

http://www.popphoto.com/article.asp?section_id=5&article_id=2012

Fujifilm Reports Potential Price Increases for Photosensitized Products
By Pop Photo Staff
April 2006

Rising Costs in Key Raw Materials Cited for Possible Increases

Fuji Photo Film U.S.A. released a statement that it is notifying its customers of a potential price increase in "photosensitized" products.

From a previous post here on RFF:

http://www.rangefinderforum.com/forums/showthread.php?t=22048

Kodak's financial reports will be out soon, I expect large losses similar to last quarter, but we will see.

In the meantime, sorry to be the bearer of bad news - I report with the concept that it is better to know what's going on than to pretend it isn't happening.

Best Regards,

Bill Mattocks

 

[Nick R.]

My friend works for Fuji New Jersey. I wonder if he still has a job today.

 

[bmattock]

My friend works for Fuji New Jersey. I wonder if he still has a job today.

I think the majority of their 5,000 cuts were already done a few months back - they closed film production plants in SC and The Netherlands.

What does Fuji NJ produce?

Best Regards,

Bill Mattocks

 

[Nick R.]

I believe it's the east coast distributor/warehouse.

 

[kmack]

Ah Bill our own FID Cassandra.
And like good Trojans we will ignore Cassandra and continue to believe the Greeks will just get bored and go away.

But whether disaster strikes or not, I still like the updates.