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Fuji Profits Fall by Nearly 50 Percent
- 28-07-2006
- Categorized in: Other
July 28, 2006 – Fuji Photo Film Co., Ltd. announced the company’s first quarter financial results, reporting a profit loss of 49.5 percent. Fuji, the second largest film manufacturer after Kodak, reported an operating profit of 15.74 billion yen ($135.9 million USD) in the three-month quarter, ending June 30, down from 31.2 billion yen ($272 million) this time last year, according to today’s press release from Fuji. The sharp decrease of nearly half their profits comes as a result of Fuji’s overhaul of film production.
Because of rising prices of silver for film and aluminum for printing plates, Fuji announced in May to increase the prices of photosensitive products. The high costs of raw materials, coupled with sliding demands for film, led Fuji to restructure their photographic film manufacturing. Read the full article here