H1 FY2017 Headlines (Apr 1, 2016 to Sep 30,2016)
- Overall company Operating Income falls -21.3%
- Overall company Revenue falls -8.6%
- Imaging Solutions segment Revenue fall -11.5%
- Imaging Solutions segment Operating Income falls -28.5%
The headline figures overshadow what has been a reasonable first half of the year for Fujifilm. The figures are spoiled by the negative impact from the strengthening of the ¥en. Take out that factor and Revenues would be about on par with the previous year but Operating Income would be ahead by 7.5%. What is more difficult to understand is why forex should have such a big impact when over 40% of revenue is credited to the home market.
Previously, the forecast for the full year saw Revenues rising by 2.3% and Operating Income rising by a substantial 15.1%. Overviewing the global economy over this first half the trend is of gradual economic recovery with signs of weakness in Asia. So even given the problems with exchange rates, some more growth was expected.