Earnings of FY2017/3 - Fujifilm of FY2017/3 ... actual results may differ mat erially from those projected due to ... of the depreciation of Asia’s local currencies and a drop in

Earnings of FY2017/3

Jun. 12, 2017

FORWARD-LOOKING STATEMENTSForward looking statements such as those relating to earnings forecasts and other projections containedForward-looking statements, such as those relating to earnings forecasts and other projections contained in this material, are management’s current assumptions and beliefs based on currently available information. Such forward-looking statements are subject to a number of risks, uncertainties, and other factors. Accordingly, actual results may differ materially from those projected due to various factors.

Consolidated Performance for Consolidated Performance for FY2017/3 FY2017/3 Performance Summary of Performance Summary of FY2017/3FY2017/3

（（Apr. 2016 Apr. 2016 –– Mar. 2017Mar. 2017））

(Billions of yen)

AmendedFY2016/3

FY2017/3 Change Influence of exchange rate

Currency-neutral basis

2,460.4 2,322.2 (138.2) (152.7) 14.5Re en e 2,460.4 2,322.2 (138.2) (152.7) 14.5100.0% 100.0% -5.6% +0.6%

174.0 172.3 (1.7) (33.6) 31.97.1% 7.4% -1.0% +18.3%

Revenue

Operating Income

175.6 194.8 19.2 (24.9) 44.17.1% 8.4% +10.9% +25.1%

111.4 131.5 20.1 (17.2) 37.3

Income before Income Taxes

Net Income Attributable toFUJIFILM H ldi 4.5% 5.7% +18.0% +33.4%

ROE 5 3% 6 5% +1 2%

¥239.37 ¥296.27

FUJIFILM Holdings

Net Income Attributable toFUJIFILM Holdings per Share ¥56.90

〈Other factors of change (YoY) 〉

ROE 5.3% 6.5% +1.2%Exchange US$/¥ ¥120 ¥108 (¥12)Rates €/¥ ¥133 ¥119 (¥14)

2

〈Other factors of change (YoY) 〉Operating income --- Raw material prices: +￥7.8 billion

*The FY2015 financial results are being audited.

Regarding the amendment of financial results of FY2016/3, please refer to the appendix slides(page 30 through 32).

Consolidated Revenue and Operating Income by SegmentsConsolidated Revenue and Operating Income by Segments

Performance Summary of Performance Summary of FY2017/3FY2017/3

Consolidated Revenue and Operating Income by SegmentsConsolidated Revenue and Operating Income by Segments

(Billions of yen)

Full YearFull YearAmendedFY2016/3

FY2017/3

Imaging Solutions 352.9 341.8 (11.1) (-3.2%) (32.0) 20.9 (+5.9%)

ChangeRevenue Influence of exchange rate


Information Solutions 942.1 899.5 (42.6) (-4.5%) (63.5) 20.9 (+2.2%)

Document Solutions 1,165.4 1,080.9 (84.5) (-7.2%) (57.2) (27.3) (-2.3%)

Total 2 460 4 2 322 2 (138 2) (-5 6%) (152 7) 14 5 (+0 6%)Total 2,460.4 2,322.2 (138.2) ( 5.6%) (152.7) 14.5 (+0.6%)

Note: After elimination of intersegment transaction.

(Billions of yen)

Full YearA d d ChangeOperating Income AmendedFY2016/3

FY2017/3

Imaging Solutions 32.0 36.8 4.8 (+15.1%) (10.3) 15.1 (+47.4%)

Information Solutions 90 7 83 0 (7 7) ( 8 5%) (18 2) 10 5 (+11 5%)

ChangeOperating Income Influence ofexchange rate


Information Solutions 90.7 83.0 (7.7) (-8.5%) (18.2) 10.5 (+11.5%)

Document Solutions 81.3 82.7 1.4 (+1.7%) (5.3) 6.7 (+8.2%)

Corporate Expenses &Eliminations (30.0) (30.2) (0.2) 0.2 (0.4)

3*The FY2015 financial results are being audited.

Eliminations

Total 174.0 172.3 (1.7) (-1.0%) (33.6) 31.9 (+18.3%)

Summary by OperatingSummary by Operating SegmentSegment


Summary by Operating Summary by Operating Segment Segment

Imaging SolutionsImaging Solutions(Billions of yen)

Operating income YoYRevenue YoYImaging SolutionsImaging Solutions

・ In the business of photo imaging, strong sales were seen in Europe and United States for instant photo systems such as the instax series and instax films. The Wall Decor and other value-added printing businesses

341.8 (+15.1%)36.8

Operating income YoY

(11.1) (-3.2%) 4.8

Revenue YoY

systems such as the instax series and instax films. The Wall Decor and other value added printing businesses also enjoyed solid sales.

・The business of electronic imaging achieved a sales growth due to positive sales of the X Series of mirrorlessdigital cameras such as FUJIFILM X-T2 and FUJIFILM X-T20 as well as their interchangeable lenses, anddigital cameras such as FUJIFILM X T2 and FUJIFILM X T20 as well as their interchangeable lenses, and strong sales of the FUJIFILM GFX 50S, a medium-format mirrorless digital camera equipped with a large sized sensor, released in February.

・ The business of optical devices suffered a decline in sales as a result of sales contraction in smartphoneThe business of optical devices suffered a decline in sales as a result of sales contraction in smartphonecamera modules. Its product lineup is being transformed with greater focus on value-added products.

S l f th I i S l ti t d d d t th tiSales of the Imaging Solutions segment decreased, due to the negative effect of the appreciation of the Japanese yen, but enjoyed income

growth thanks to the sales performance of instax and digital cameras.

4

On the operation base, the segment enjoyed increased revenue and substantial increase in income.




Information SolutionsInformation Solutions

Summary by Operating Summary by Operating Segment Segment (Billions of yen)

Operating income YoYRevenue YoYInformation SolutionsInformation Solutions・ The Medical Systems business enjoyed positive sales with the high-growth fields such as In-vitro Diagnostic

(IVD) systems and endoscopes. The pharmaceutical business revenue decreased mainly due to the influence of generic drugs in the small

(7.7) (-8.5%)(-4.5%) 83.0899.5 (42.6)

The pharmaceutical business, revenue decreased mainly due to the influence of generic drugs in the small-molecular drugs, but contract development and Manufacturing Organization (CDMO) of biopharmaceuticals performed well. The Bio-CDMO Business Division was established in March. Initiatives for business expansion are underway in regenerative medicine. Sales also increased in the field of life science.

・ In FPD materials, solid performance for WV films and films for VA mode led to sales increase.

・ In industrial products, the EXCLEAR delivered good sales results. In electronic materials, growth in advanced products related to photolithography materials led to sales increaseproducts related to photolithography materials led to sales increase.

・ In recording media, sales grew thanks to solid performance of data storage tapes.

・ In graphic systems sales grew for digital printing devices and industrial inkjet print heads The Inkjet Business・ In graphic systems, sales grew for digital printing devices and industrial inkjet print-heads. The Inkjet Business Division was established in January.

Both sales and operating income of the Information Solutions segment decreased,

5

due to the negative impact of the strong Japanese yen, but achieved increased sales and income in the operation base.




Document SolutionsDocument Solutions

Summary by Operating Summary by Operating Segment Segment (Billions of yen)

Operating income YoYYoYRevenue

Document SolutionsDocument Solutions• In the office products business, positive sales were seen with the new ApeosPort- VI C and

DocuCentre-VI C series of A3 full-color multifunction devices capable of connecting with various

1.4 (+1.7%)1,080.9 (84.5) (-7.2%) 82.7

cloud services. The number of both monochrome and color multifunction devices sold increased in Asia and Oceania.

• The office printer business suffered a sales decline mainly in exports to Europe and United• The office printer business suffered a sales decline mainly in exports to Europe and United States.

• In production services business, the sales of color, on-demand and publishing systems performed solidly.

• Global services business achieved solid sales in Japan as well as in Asia and Oceania.

The sales of Document Solutions decreased, due to the negative impact of the depreciation of Asia’s local currencies and a drop in export sales to

6

Europe and United States, but achieved income increase thanks to initiatives for cost cutting and cost improvement.


Consolidated Balance SheetConsolidated Balance Sheet


Consolidated Balance SheetConsolidated Balance Sheet(Billions of yen)

AmendedMar 17

Change fromamended

AmendedMar 17

Change fromMar.16

Mar.17 amendedMar.16

Mar.16Mar.17

amended Mar.16

Cash and cashequivalents

600.9 876.0 275.1Short-term andlong-term debt 365.7 558.8 193.1

Notes andaccountsreceivable

643.6 635.8 (7.8)Notes andaccountspayable

257.1 257.9 0.8receivable payable

Inventories 349.2 339.2 (10.0) Other liabilities 457.2 448.4 (8.8)

Other currentassets

172.6 183.8 11.2 Total liabilities 1,080.0 1,265.1 185.1

Total current assets

1,766.3 2,034.8 268.5TotalFUJIFILM Holdingsshareholders' equity

2,014.8 2,043.6 28.8

Property, plant and532 6 520 6 (12 0)

Noncontrolling217 2 224 5 7 3

equipment532.6 520.6 (12.0) interests 217.2 224.5 7.3

Goodwill, net 506.9 499.8 (7.1) Total equity 2,232.0 2,268.1 36.1

Investmentsecuritiesand other

506.2 478.0 (28.2) Total liabilities and equity 3,312.0 3,533.2 221.2and other

Total noncurrentassets

1,545.7 1,498.4 (47.3) (yen)

Total assets 3,312.0 3,533.2 221.2 Exchange Rates Mar.16 Mar.17Change from

amended Mar.16

7

*The amended balance at the end of FY2016/3 includes the adjustments due to inappropriate accounting regarding overseas sales subsidiary of

Fuji Xerox Co., Ltd. and other items.

US$/¥ ¥113 ¥112 ¥(1)

€/¥ ¥128 ¥120 ¥(8)

Cash FlowsCash Flows


Cash FlowsCash Flows(Billions of yen)

AmendedFY2017/3

C/F from operating activities

C/F from investing activities

FY2016/3FY2017/3

Net income 126.9 147.2

Depreciation & amortization 125.0 117.6Change in notes and accounts

(18 6) 3 4

228 3

288.6 (Billions of yen)

Free cash flows (without acquisitions of businesses)g

receivable(18.6) 3.4

Change in inventories 6.9 4.9Change in notes and accounts

payable-trade1.7 5.7

Oth (13 6) 9 8228.3

102.9

173.5

Others (13.6) 9.8C/F from operating activities 228.3 288.6

Capital expenditure (63.8) (74.6)

Purchases of software (22.3) (22.3)

Sales and purchases of marketableand investment securities

14.2 5.1

Acquisitions of businesses (36.7) (1.3)Others (53.5) (23.3)

(162.1)

(116.4)

Amended FY2017/3

(53 5) ( 3 3)

C/F from investing activities (162.1) (116.4)

Free cash flows 66.2 172.2

Free cash flows without acquisitions ofFY2016/3

8

Free cash flows without acquisitions ofbusinesses

102.9 173.5


Earnings of FY2017/3

Forecast for FY2018/3

FORWARD-LOOKING STATEMENTSf

Jun. 12, 2017

9

Forward-looking statements, such as those relating to earnings forecasts and other projections contained in this material, are management’s current assumptions and beliefs based on currently available information. Such forward-looking statements are subject to a number of risks, uncertainties, and other factors. Accordingly, actual results may differ materially from those projected due to various factors.

Consolidated Financial Forecast for Consolidated Financial Forecast for FY2018/3 FY2018/3

Forecast for Forecast for FY2018/3FY2018/3

(as of (as of Jun. 12, 2017)Jun. 12, 2017)

(Billions of yen)

Change from

2,322.2 2460.0 137.8100.0% +100.0% +5.9%

Revenue

FY2018/3Change fromprevious year

FY2017/3

100.0% 100.0% 5.9%

172.3 185.0 12.77.4% +7.5% +7.4%

Income before 194.8 200.0 5.2Income Taxes 8 4% +8 1% +2 7%

Operating Income

Income Taxes 8.4% +8.1% +2.7%

131.5 125.0 (6.5)5.7% +5.1% -4.9%

Net IncomeAttributable to

Net IncomeAttributable to

FUJIFILM Holdingsper Share

¥296.27 ¥285.55 ¥(10.72)

ROE 6.5% 6% or more -Exchange Rates

US$/¥ ¥108 ¥110 ¥2€/¥ ¥119 ¥120 ¥1

10

Note: Impact of exchange rates movements on operating income (FY2018/3 full year) US$/¥: ¥0.8 billion €/¥: ¥0.8 billion

Silver Price (/kg) ¥59,000 ¥62,000 -


Consolidated Financial Forecast for Consolidated Financial Forecast for FY2018/3 FY2018/3 by Segments by Segments (as of (as of Jun. 12, 2017)Jun. 12, 2017)

(Billions of yen)

FY2017/3 FY2018/3

341.8 350.0 8.2 (+2.4%)

H lth 384 0 435 0 51 0 (+13 3%)

Change from previous yearRevenue

Imaging Solutions

Health-care 384.0 435.0 51.0 (+13.3%)

899.5 1,010.0 110.5 (+12.3%)

1,080.9 1,100.0 19.1 (+1.8%)

InformationSolutions

Document Solutions

2,322.2 2,460.0 137.8 (+5.9%) Note: After elimination ofintersegment transaction.

FY2017/3 FY2018/3 Ch f i

Total

FY2017/3 FY2018/3

36.8 43.0 6.2 (+16.7%)

H lth 12 4 15 0 2 6 ( 21 0%)

Change from previous yearOperating Income

Imaging Solutions

Health-care 12.4 15.0 2.6 (+21.0%)

83.0 88.0 5.0 (+6.1%)

82.7 86.0 3.3 (+4.0%)

InformationSolutions

Document Solutions

11

(30.2) (32.0) (1.8)

172.3 185.0 12.7 (+7.4%)

Corporate Expenses &Eliminations

Total


Consolidated Financial Forecast forConsolidated Financial Forecast for FY2018/3FY2018/3 : Main Points: Main PointsConsolidated Financial Forecast for Consolidated Financial Forecast for FY2018/3 FY2018/3 : Main Points: Main Points

Imaging SolutionsImaging SolutionsImaging SolutionsImaging SolutionsThe category of photo imaging aims to expand income further, mainly in instant photo systems by introducing new products including the instax Square SQ10, a new instax camera featuring the digital imaging technology.The business of optical and electronic imaging will seek to improve profitability by placing a greater focus on products of high added value such as fast-growing high-end mirrorless cameras and 4K-compatible broadcast lenses

Information Solutions

of high added value, such as fast-growing high-end mirrorless cameras and 4K-compatible broadcast lenses.

Information SolutionsIn medical systems, Fujifilm seeks to expand sales in the business of medical IT, endoscopes, ultrasound and In-vitro Diagnostics (IVD). The Bio CDMO business will reinforce its development and production structures.In electronic materials the sales of cutting-edge photolithography materials will be acceleratedIn electronic materials, the sales of cutting-edge photolithography materials will be accelerated.Continued efforts will be made to improve profitability in business such as graphic systems and industrial products.

Document SolutionsWe will work toward sales growth by reinforcing the product lineup to boost sales volume, strengthening business in Asia and Oceania, expanding service businesses, and enhancing solutions.

12

At the same time, thorough cost reduction and cost-cutting initiatives will be further promoted to improve profitability.

Shareholder ReturnsShareholder Returns


■DividendDividend for FY2018/3 is planned ¥75 per share increased ¥5 from previous

Shareholder ReturnsShareholder Returns

Dividend for FY2018/3 is planned ¥75 per share, increased ¥5 from previous fiscal year. The dividend increase will be the 8 consecutive years.

70円75円

50円

60円65円

70円

30円35円

40円

50円

25円30円

FY'10/3 FY'11/3 FY'12/3 FY'13/3 FY'14/3 FY'15/3 FY'16/3 FY'17/3 FY'18/3

13

FY 10/3 FY 11/3 FY 12/3 FY 13/3 FY 14/3 FY 15/3 FY 16/3 FY 17/3 FY 18/3(forecast)

Earnings for FY2017/3

AppendixAppendix

14

FY2017/3 AppendixFY2017/3 Appendix

Analysis of Operation Income ChangeAnalysis of Operation Income Change(Full year , against amended FY2016/3 ) (Full year , against amended FY2016/3 )

Billions of yen

+6.6200.0

Billions of yen

+18.8

+3.1

-33.6

+7.8 -4.4175.0

174.0 172.3150.0

125 00125.0FY2016/3 Quantity

ImagingQuantity

InformationQuantity

DocumentFX Raw

material price

Others FY2017/3



Analysis of Operation Income ChangeAnalysis of Operation Income Change(Full year , against FY2016 business projections)(Full year , against FY2016 business projections)

Billions of yen

Billions of yen

+1.9

16 0

200.0

-16.0

-6.6 +2.3 -0.7 -0.6175.0

192.0

172.3150.0

0125.00

16

FY 2017/3Forecast

ImagingInformationDocument FX Raw material price

Others FY 2017/3Actual


Earnings forEarnings for FY2017/3 4Q/Full yearFY2017/3 4Q/Full yearEarnings for Earnings for FY2017/3 4Q/Full year FY2017/3 4Q/Full year

(Billions of yen)(Billions of yen)

AmendedFY2016/3 4Q

FY2017/3 4Q Change AmendedFY2016/3

FY2017/3 Change

635.5 629.9 (5.6) 2,460.4 2,322.2 (138.2)100.0% 100.0% -0.9% 100.0% 100.0% -5.6%

48.7 55.2 6.5 174.0 172.3 (1.7)

Revenue

Operating Income ( )7.7% 8.8% +13.3% 7.1% 7.4% -1.0%

42.6 65.5 22.9 175.6 194.8 19.26.7% 10.4% +53.7% 7.1% 8.4% +10.9%

34 4 52 3 17 9 111 4 131 5 20 1


Operating Income

34.4 52.3 17.9 111.4 131.5 20.15.4% 8.3% +51.7% 4.5% 5.7% +18.0%

Exchange US$/¥ ¥115 ¥114 (¥1) ¥120 ¥108 (¥12)Rates €/¥ ¥128 ¥121 (¥7) ¥133 ¥119 (¥14)

Net Income Attributable toFUJIFILM Holdings

Rates €/¥ ¥128 ¥121 (¥7) ¥133 ¥119 (¥14)

17*The FY2015 and FY2016/3 4Q financial results are being audited.

Earnings forEarnings for FY2017/3 4Q/Full yearFY2017/3 4Q/Full year


Earnings for Earnings for FY2017/3 4Q/Full year FY2017/3 4Q/Full year (Billions of yen)

A d d A d dRevenue4Q Full Year

AmendedFY2016/3

FY2017/3AmendedFY2016/3

FY2017/3

Imaging Solutions 79.7 84.2 4.5 (+5.8%) 352.9 341.8 (11.1) (-3.2%)

Information Solutions 253.1 257.1 4.0 (+1.6%) 942.1 899.5 (42.6) (-4.5%)

RevenueChange Change

Document Solutions 302.7 288.6 (14.1) (-4.7%) 1,165.4 1,080.9 (84.5) (-7.2%)

Total 635.5 629.9 (5.6) (-0.9%) 2,460.4 2,322.2 (138.2) (-5.6%)

(Billions of yen) Note: After elimination of intersegment transaction.

AmendedFY2016/3

FY2017/3AmendedFY2016/3

FY2017/3

5 3 8 4 32 0 36 8

Full Year

Change

Operating Income[Operating Margin]

4Q

Change

5.3 8.4 32.0 36.8[6.6%] [10.0%] [9.1%] [10.8%]

32.0 27.2 90.7 83.0[12.6%] [10.6%] [9.6%] [9.2%]

(+15.1%)4.83.1 (+58.5%)Imaging Solutions

(-15.0%)Information Solutions (4.8) (7.7) (-8.5%)

19.2 27.3 81.3 82.7[6.3%] [9.5%] [7.0%] [7.6%]

Corporate Expenses &Eliminations

(7.8) (7.7) 0.1 (30.0) (30.2) (0.2)

8.1 (+42.2%)Document Solutions 1.4 (+1.7%)

18

48.7 55.2 174.0 172.3[7.7%] [8.8%] [7.1%] [7.4%]

6.5 (+13.3%)Total (1.7) (-1.0%)

*The FY2015 and FY2016/3 4Q financial results are being audited.


FY2017/3 4Q (3 Months) Performance by Operating SegmentFY2017/3 4Q (3 Months) Performance by Operating SegmentFY2017/3 4Q (3 Months) Performance by Operating Segment FY2017/3 4Q (3 Months) Performance by Operating Segment

Imaging SolutionsImaging SolutionsIn the photo imaging business, the overall sales increased due to the strong sales of instant photo systems especially in the United States and Europe.In the electronic imaging field, the overall sales increased due to the sales of such flagship models of the mirrorless digital camera as FUJIFILM X T2 which was launched in September and


the mirrorless digital camera as FUJIFILM X-T2, which was launched in September, and interchangeable lenses increased.

In the medical systems business the overall sales decreased due to the negative impact of yenIn the medical systems business, the overall sales decreased due to the negative impact of yen appreciation and other factors, while sales proceeded smoothly in the growth fields such as IVD(in-vitro diagnostics). In the pharmaceutical business revenue decreased mainly due to the influence of generic drugs in the small-molecular pharmaceuticals.I th FPD t i l b i i d d t th l f WV fil d fil f VA dIn the FPD materials business, revenue increased due to the sales of WV film and film for VA mode increased. In the industrial products business, the overall sales decreased due to the negative impact of yen appreciation, while the sales of EXCLEAR increased. In the electronic materials business, the sales of

Document SolutionsDocument Solutionsadvanced products such as photo-resists proceeded smoothly.

Revenue decreased due to the negative impact of depreciation of Asian currencies and other factors.

19

Regarding office products business, Fuji Xerox has launched A3 full color multifunction devices models for each of ApeosPort-VI C, DocuCentre-VI C series which can be linked with various cloud services in Japan and Asia-Oceania region from December onward.



Imaging SolutionsImaging Solutions

Earnings for Earnings for FY2017/3 4Q/Full year FY2017/3 4Q/Full year

g gg g(Billions of yen)

Full Year4Q

Revenue AmendedFY2016/3

FY2017/3 ChangeAmendedFY2016/3

FY2017/3 Change

Photo Imaging 53.7 53.8 0.1 (+0.2%) 0.1 (+0.2%) 249.5 236.8 (12.7) (-5.1%) 9.2 (+3.7%)

Electronic Imaging 16.2 21.1 4.9 (+30.2%) 5.7 (+35.1%) 64.0 69.8 5.8 (+9.2%) 12.8 (+20.1%)

Optical Devices 9.8 9.3 (0.5) (-5.1%) (0.3) (-3.4%) 39.4 35.2 (4.2) (-10.8%) (1.1) (-3.1%)

Optical Device &

Currency-neutral basisCurrency-neutral basisFY2016/3 FY2016/3

Optical Device &Electronic Imaging

Products26.0 30.4 4.4 (+16.9%) 5.4 (+20.6%) 103.4 105.0 1.6 (+1.5%) 11.7 (+11.3%)

79.7 84.2 4.5 (+5.8%) 5.5 (+6.8%) 352.9 341.8 (11.1) (-3.2%) 20.9 (+5.9%)


(Billions of yen)

Total

(Billions of yen)

5.3 8.4 32.0 36.8

Full Year4Q

4 8 (+15 1%)(+58 5%)3 1Imaging Solutions

Operating Income[Operating Margin] Amended

FY2016/3FY2017/3 Change


4 4 (+83 0%)

ChangeCurrency-neutral basis

AmendedFY2016/3

FY2017/3

15 1 (+47 4%)[6.6%] [10.0%] [9.1%] [10.8%]

4.8 (+15.1%)(+58.5%)3.1Imaging Solutions 4.4 (+83.0%) 15.1 (+47.4%)


Change in Quarterly Earnings by Operating SegmentChange in Quarterly Earnings by Operating Segment

FY2017/3 FY2017/3 AppendixAppendix

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

Imaging SolutionsImaging Solutions (Billions of yen)

25120

Operating IncomeRevenue

Imaging SolutionsImaging Solutions ( y )

79 7

103.3

84 219.2

20

90 Photo Imaging

76.2

53 8

79.777.8 76.5

84.2

15

60

(18.6%)g g

ElectronicImaging Optical Device &

Electronic Imaging 53.7

53.7 53.0

53.8

5.35.6

8.410

30(10.0%) Operating Income for Imaging Solutions

(O ti M i )

Optical Devices

Products

9.8 8.2 8.4 9.4 9.3

16.215.9 15.1

17.7 21.13.6

0

5

0

(6.6%)(7.2%)

(4.7%)

(Operating Margin)

FY2016/3 4Q

FY2017/3 1Q

FY2017/3 2Q

FY2017/3 3Q

FY2017/3 4Q

21*The FY2015 and FY2016 quarterly financial results are being audited.





(Billions of yen)

Full Year

FY2017/3 ChangeAmendedFY2016/3

Revenue AmendedFY2016/3

FY2017/3

4Q

Change Currency-neutral basis Currency-neutral basis

117.6 123.4 5.8 (+4.9%) 9.2 (+7.8%) 401.4 384.0 (17.4) (-4.3%) 9.3 (+2.3%)

FPD Materials 24.5 22.0 (2.5) (-10.2%) (2.5) (-10.2%) 95.9 97.8 1.9 (+1.9%) 1.9 (+1.9%)

Industrial ProductsElectronic Materials 26.8 30.5 3.7 (+13.8%) 4.1 (+15.3%) 106.1 111.1 5.0 (+4.6%) 14.8 (+13.9%)

Hi hl F ti l

Healthcare

FY2016/3FY2016/3 Currency neutral basis Currency neutral basis

Highly FunctionalMaterials 51.3 52.5 1.2 (+2.3%) 1.6 (+3.1%) 202.0 208.9 6.9 (+3.3%) 16.7 (+8.2%)

12.6 13.1 0.5 (+4.0%) 0.7 (+5.8%) 46.6 47.6 1.0 (+2.1%) 5.8 (+12.5%)

69.6 67.6 (2.0) (-2.9%) (0.5) (-0.7%) 285.0 255.8 (29.2) (-10.2%) (7.0) (-2.5%)

2.0 0.5 (1.5) (1.5) 7.1 3.2 (3.9) (3.9)Others

Recording Media

Graphic Systems

253.1 257.1 4.0 (+1.6%) 9.5 (+3.8%) 942.1 899.5 (42.6) (-4.5%) 20.9 (+2.2%)


(Billions of yen)

Full Year

Total

4Q

AmendedOperating Income[O ti M i ] Amended

32.0 27.2 90.7 83.0[12.6%] [10.6%] [9.6%] [9.2%]

Information Solutions


(4.8)

AmendedFY2016/3

FY2017/3

(7.7)(-15.0%)

Change

(-8.5%)


10.5 (+11.5%)

[Operating Margin] AmendedFY2016/3

FY2017/3 Change

(1.6) (-5.0%)






Operating IncomeRevenue

(Billions of yen)

253.1

205.0 217.0220.4

257.132.0

27.2

30240 (12.6%)FPD Materials

Industrial Products

Healthcare

117.6

80.3 90.2

90.1123.4

17.7

23.1

20160(10.5%)

(10.6%)

Recording Media

Industrial ProductsElectronic Materials

12.69.8 11.9 12.8 13.1

26.825.3 26.4 28.9

30.5

24.523.7 24.8 27.3 22.015.0

1080

(7.3%)

(8.2%) Graphic Systems

Others

69.6 64.1 63.1 61.0 67.6

00FY2016/3 FY2017/3 FY2017/3 FY2017/3 FY2017/3

Operating Income for Information Solutions(Operating Margin)

FY2016/3 4Q

FY2017/3 1Q

FY2017/3 2Q

FY2017/3 3Q

FY2017/3 4Q


FY2017/3 3Q AppendixFY2017/3 3Q Appendix




(Billions of yen)

ChangeRevenue Amended

FY2016/3FY2017/3

Full Year4Q

ChangeAmendedFY2016/

FY2017/3

Office Products 127.1 123.1 (4.0) (-3.2%) (1.5) (-1.2%) 502.6 477.0 (25.6) (-5.1%) (3.5) (-0.7%)

Office Printers 49.5 43.0 (6.5) (-13.2%) (4.0) (-8.1%) 192.0 163.2 (28.8) (-15.0%) (15.7) (-8.2%)

P d ti S i 40 5 37 8 (2 7) ( 6 9%) (1 9) ( 4 9%) 155 9 139 6 (16 3) ( 10 5%) (8 3) ( 5 3%)

ChangeFY2016/3

FY2017/3Currency-neutral basis

ChangeCurrency-neutral basis FY2016/

FY2017/3

Production Services 40.5 37.8 (2.7) (-6.9%) (1.9) (-4.9%) 155.9 139.6 (16.3) (-10.5%) (8.3) (-5.3%)

Global Services 54.3 51.1 (3.2) (-5.8%) (2.6) (-4.6%) 194.1 186.8 (7.3) (-3.8%) 1.1 (+0.6%)

Others 31.3 33.6 2.3 (+7.4%) 2.6 120.8 114.3 (6.5) (-5.3%) (0.9)

Total 302.7 288.6 (14.1) (-4.7%) (7.4) (-2.4%) 1,165.4 1,080.9 (84.5) (-7.2%) (27.3) (-2.3%)


(Billions of yen)

Full Year

Amended FY2017/

4QOperating Income[O ti M i ] Amended

19.2 27.3 81.3 82.7[6.3%] [9.5%] [7.0%] [7.6%]

Currency-neutral basis Currency-neutral basisChange

AmendedFY2016/

FY2017/3

(+42.2%)Document Solutions 8.1

[Operating Margin] AmendedFY2016/3

FY2017/3 Change

6.7 (+8.2%)1.4 (+1.7%)6.7 (+34.9%)






302 7

Operating IncomeRevenue (Billions of yen)

302.7

263.0 274.3255.0

288.6

25.0

27.330.0300

(9.5%)

Office Products

Office Printers

127.1

119.7 119.5

114.7123.1

19.2

15 8

20.0200(6.3%)

(9.1%)Office Printers

Production Services

Gl b l S i

40.533 5 35.8

32 537.8

49.5

39.241.8

39.3

43.014.6 15.8

10.0100

(5.6%) (6.2%)Global Services

Operating Income for Document Solutions

54.344.4 48.0 43.2

51.1

33.5 32.5

0 00

(Operating Margin)

0.00FY2016/3

4QFY2017/3

1QFY2017/3

2QFY2017/3

3QFY2017/3

4Q


Revenue from Domestic and OverseasRevenue from Domestic and Overseas


Revenue from Domestic and OverseasRevenue from Domestic and Overseas

(Billions of yen)

R ti (%) R ti (%)

FY2017/3

Change

amendedFY2016/3

Ratio (%) Ratio (%)

40.0% 983.7 41.5% 962.7 (21.0) (-2.1%) Domestic

20.4% 500.4 19.4% 450.4 (50.0) (-10.0%)

11.5% 284.0 11.8% 273.9 (10.1) (-3.6%)Europe

The Americas

China 11.4% 280.7 11.8% 274.5 (6.2) (-2.2%)

Asia and others 28.1% 692.3 27.3% 635.2 (57.1) (-8.2%)( ) ( )

Overseas 60.0% 1,476.7 58.5% 1,359.5 (117.2) (-7.9%)

100 0% 2 460 4 100 0% 2 322 2 (138 2) ( 5 6%)Consolidated total

26

100.0% 2,460.4 100.0% 2,322.2 (138.2) (-5.6%)Consolidated total


Capital ExpenditureCapital Expenditure Depreciation & AmortizationDepreciation & Amortization


74.1 71 8

Capital ExpenditureCapital Expenditure , Depreciation & Amortization, Depreciation & AmortizationCapital Expenditure

(Full year)(Billions of yen)

39.3 40.1

10.2 10.3

71.8

AdmendedFY2016/3

FY2017/3

FY2018/3(forecast)

Full year

23.3 20.0

Imaging 10.2 10.3Information 39.3 40.1Document 23.3 20.0

FY2016/3

FY2017/3

12.9

125.0117.6

(Full year)

Depreciation & Amortization

Corporate 1.3 1.4

Capex * 74.1 71.8 88.0Imaging 12.9 11.1

52.049.1

11.1Information 52.0 49.1Document 58.1 55.3Corporate 2.0 2.1

58.1 55.3

Corporates Document

Information Imaging

125.0 117.6 110.0

65.8 58.9 Depreciation*

Depreciation& Amortization

FY2016/3

FY2017/3


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


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

Imaging

R&D Expenses (Full year)

Imaging

DocumentCorporates

Information

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

8.0 8.2

163.0 160.2

( y )

AdmendedFY2016/3

FY2017/3FY2018/3(forecast)

Full year　

67.3 66.2

Imaging 8.0 8.2

Information 67.3 66.2

Document 63.2 61.5

C t 24 5 24 3

63.2 61.5

Corporate 24.5 24.3

　R&D Expenses 163.0 160.2 166.0

6.6% 6.9% 6.7%　<ratio to revenue>

24.5 24.3

FY2016/3 FY2017/3

630.5 598.1

25.6% 25.8%

　SG&A Expenses

<ratio to revenue>

28

FY2016/3 FY2017/3


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)Exchange Rates (yen)

1Q 2Q 3Q 4Q Full year 1Q 2Q 3Q 4Q Full year

US$/¥ 121 122 122 115 120 108 102 110 114 108

€/¥ 134 136 133 128 133 122 114 118 121 119

FY2017/3FY2016/3

€/¥ 134 136 133 128 133 122 114 118 121 119

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

1Q 2Q 3Q 4Q Full year 1Q 2Q 3Q 4Q Full year

Silver 64 60 58 54 60 57 63 59 63 59

FY2017/3FY2016/3

Number of Employees2016.Mar 2016.Jun 2016.Sep 2016.Dec 2017.Mar

78 150 78 882 78 976 78 665 78 501Consolidated

78,150 78,882 78,976 78,665 78,501ConsolidatedTotal

29

Amendment to FY2016/3 financial resultsAmendment to FY2016/3 financial results

Performance Summary of FY2017/3Performance Summary of FY2017/3

Amendment to FY2016/3 financial resultsAmendment to FY2016/3 financial results

(Billions of yen)

OriginalFY2016/3

AmendedFy2016/3 Change

2,491.6 2,460.4 -31.2R , ,100.0% 100.0% -0.9%

191.2 174.0 -17.27 7% 7 1% -9 0%

Revenue

Operating Income7.7% 7.1% -9.0%

194.5 175.6 -18.97.8% 7.1% -9.7%


123.3 111.4 -11.94.9% 4.5% -9.6%

264 87円 239 37円 -25 50円

Net Income Attributable toFUJIFILM Holdings

Net Income Attributable toFUJIFILM H ldi

ＲＯＥ 5.8% 5.3% -0.5%Exchange US$/ ¥120 ¥120

264.87円 239.37円 -25.50円FUJIFILM Holdings perShare


Exchange US$/ ¥120 ¥120　Rates €/ ¥133 ¥133

Consolidated Balance Sheet Consolidated Balance Sheet Performance Summary of FY2017/3Performance Summary of FY2017/3

Amendment to FY2016/3 financial resultsAmendment to FY2016/3 financial results(Billions of yen)

O i i l A d d Original AmendedOriginalMar.16

AmendedMar.16

ChangeOriginalMar.16

AmendedMar.16 Change

Cash and cashequivalents

600.9 600.9 0.0 Short-term andlong-term debt

365.7 365.7 0.0

Notes andaccounts 663.9 643.6 (20.3)

Notes andaccounts 259.3 257.1 (2.2)

receivable663.9 643.6 (20.3)

payable259.3 257.1 (2.2)

Inventories 352.9 349.2 (3.7) Other liabilities 454.8 457.2 2.4

Other currentassets

171.6 172.6 1.0 Total liabilities 1,079.8 1,080.0 0.2

Total current assets

1,789.3 1,766.3 (23.0)

TotalFUJIFILM Holdingsshareholders'equity

2,054.5 2,014.8 (39.7)

Property plant534 1 532 6 (1 5) Noncontrolling 229 4 217 2 (12 2)

Property, plantand equipment

534.1 532.6 (1.5) Noncontrollinginterests 229.4 217.2 (12.2)

Goodwill, net 506.9 506.9 0.0 Total equity 2,283.9 2,232.0 (51.9)

Investmentsecuritiesand other

533.4 506.2 (27.2) Total liabilities andequity 3,363.7 3,312.0 (51.7)

and otherq y

Total noncurrentassets

1,574.4 1,545.7 (28.7)(単位：円)

Total assets 3,363.7 3,312.0 (51.7) Exchange RatesOriginalMar.16

AmendedMar.16

31*The amended balance at the end of FY2016/3 includes the adjustments due to inappropriate accounting regarding overseas sales subsidiary of

Fuji Xerox Co., Ltd. and other items.

3兆2億円減少 US$/¥ ¥113 ¥113

€/¥ ¥128 ¥128

Cash Cash FlowsFlowsPerformance Summary of Performance Summary of FY2017/3FY2017/3

Amendment to FY2016/3 financial resultAmendment to FY2016/3 financial result(Billions of yen)

C/F from operating activities

C/F from investing activities

OriginalFY2016/3

AmendedFY2016/3

Change

Net income 141.7 126.9 (14.8)

Depreciation & amortization 121 4 125 0 3 6

221.9 228.3

(Billions of yen)

Free cash flows (without acquisitions of businesses)Depreciation & amortization 121.4 125.0 3.6

Change in notes and accountsreceivable

(16.3) (18.6) (2.3)

Change in inventories 7.2 6.9 (0.3)Change in notes and accounts

(2 0) 1 7 3 7

102.9 102.9

payable-trade(2.0) 1.7 3.7

Others (30.1) (13.6) 16.5C/F from operating activities 221.9 228.3 6.4

Capital expenditure (63.8) (63.8) 0.0

P h f ft (22 3) (22 3) 0 0Purchases of software (22.3) (22.3) 0.0

Sales and purchases of marketableand investment securities

14.2 14.2 0.0

Acquisitions of businesses (36.7) (36.7) 0.0

-155.7 -162.1

FY2016/3 Amended

Others (47.1) (53.5) (6.4)

C/F from investing activities (155.7) (162.1) (6.4)

Free cash flows 66.2 66.2 0.0

FY2016/3 AmendedFY2016/3


Free cash flows without acquisitions ofbusinesses

102.9 102.9 0.0

Consolidated Financial Forecast for FY2017/3 Consolidated Financial Forecast for FY2017/3


(as of (as of Jun. 12, 2017)Jun. 12, 2017)

(Billions of yen)

Change fromFY2018/3 FY2018/3

2,322.2 1,180.0 1,280.0 2460.0 137.8Revenue

FY2018/3Change fromprevious year

FY2017/3FY2018/3

1HFY2018/3

2H

100.0% 100.0% 100.0% +100.0% +5.9%

172.3 64.0 121.0 185.0 12.77.4% 5.4% 9.5% +7.5% +7.4%

Income before 194 8 84 5 115 5 200 0 5 2

Operating Income

Income before 194.8 84.5 115.5 200.0 5.2Income Taxes 8.4% 7.2% 9.0% +8.1% +2.7%

131.5 50.0 75.0 125.0 (6.5)Net IncomeAttributable to

5.7% 4.2% 5.9% +5.1% -4.9%Attributable to

33

PipelinePipeline

FY2017/3 3Q FY2017/3 3Q AppendixAppendix

Development code

Therapeutic categoryFormulation

Region Development stage Note

Japan Approved Approved in March 2014 (AVIGAN®)

PipelinePipeline

T-705 Anti-inf luenza drug Oral

p pp pp ( )

U.S.A. PⅢUnder clinical trials utilizing subsidy from the U.S. Department of Defense

T-3811 Quinolone synthetic antibacterial drug Oral ChinaSubmitted an application for

permissionAlready launched as Geninax in Japan

T-2307 Antifungal drug Injection

U.S.A. PⅠcompletedon

T-817MA Alzheimer's disease drug Oral

U.S.A. PⅡUndertaking clinical trials with the Alzheimer’s Disease Cooperative Study

Japan PⅡEngaging in the search and identification of biomarkers with the CiRA of Kyoto University

T-4288 New f luoroketolide antibacterial drug Oral Japan PⅢ

ITK-1 Castration-resistant prostate cancer drug Injection

Japan PⅢ

FF-10501Relapsed or Refractory myelodysplastic syndrome

drugOral

Japan PⅠcompleted

U.S.A. Preparing for PⅡPromoting clinical trial with the MD Anderson Cancer Center

Promoting clinical trialwith the MD Anderson Cancer

Bio

PⅡ

FF-10502Advanced/recurrent pancreatic/ovarian

cancer drugInjecti

on

U.S.A. PⅠPromoting clinical trial with the MD Anderson Cancer Center

Europe/Japan

Preparing for PⅠ

FF-21101

Advanced/recurrent non-small cell

lung/pancreatic cancer drugInjecti

on

U.S.A. PⅠPromoting clinical trial with the MD Anderson Cancer Center

E

Biog p g

(armed antibody)on Europe

/JapanPreparing for PⅠ

F-1311Diagnostic drug for prostate cancer

(Radiopharmaceuticals)Japan PⅡ

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

FF-10102 Autoimmune disease drug OralU.S.A. Europe/Japan

Non clinical trial

34

Note: FKB327 (a biosimilar of adalimumab) of FUJIFILM KYOWA KIRIN Biologics (FKB), an equity method affiliated company is filed in EU.

FKB238 (a biosimilar of bevacizumab ) of JV between FKB and AstraZeneca is under phase Ⅲclinical trial in U.S.A., Europe, and others.

AppendixAppendix


AppendixAppendix

FUJIFILM HoldingsFUJIFILM Holdings －－ Investor RelationsInvestor RelationsFUJIFILM Holdings FUJIFILM Holdings Investor RelationsInvestor Relationshttp://www.fujifilmholdings.com/en/investors/index.html

FUJIFILM H ldi A l R t 2016FUJIFILM H ldi A l R t 2016FUJIFILM Holdings Annual Report 2016FUJIFILM Holdings Annual Report 2016http://www.fujifilmholdings.com/en/investors/annual_reports/2016/index.html

IR Events MaterialsIR Events Materialshttp://www.fujifilmholdings.com/en/investors/ir_events/business_presentations/index.html

・ Business presentation materials-May. 2016 Presentation of Document Solutions-Dec. 2016 Business Presentation for Pharmaceuticals/Regenerative Medicine Business-Mar. 2017 Business Presentation for Electronic Materials Business

What Kind of Company is Fujifilm?What Kind of Company is Fujifilm?

35

What Kind of Company is Fujifilm?What Kind of Company is Fujifilm?http://www.fujifilmholdings.com/en/investors/guidance/index.html

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.

Corporates Communication Office, Corporates Planning Div.

http://www.fujifilmholdings.com/en/index.html

Documents

Earnings of FY2017/3 - Fujifilm of FY2017/3 ... actual results may differ mat erially from those projected due to ... of the depreciation of Asia’s local currencies and a drop in