The news comes hot on the heels of the revelation that Fujifilm and Konica Minolta are planning to establish a joint venture for procurement, toner development, and production efficiencies encompassing print devices for high-end production and office markets.

Today (17 April) Fujifilm announced its new ‘Vision 2030’ medium-term management plan along with revised forecasts for the current financial year just ended.

Sales for the year to 31 March will be slightly higher than expected, up 0.3% at ¥2,960bn (£15.4bn). Operating profit will be 4.5% lower than forecasted at ¥277bn, mainly due to a decrease in the amount of cancellation fees received, which were agreed in connection with cancellation of manufacturing substances for Covid-19 vaccinations at Fujifilm’s Healthcare division.

Fujifilm said it had achieved its previous Vision 2023 targets for revenue and operating profit a year ahead of the expected schedule.

Of its new Vision 2030 plan, the group described its fresh ambition thus: “Enhance corporate value focusing on profitability and capital efficiency. As a collection of global top-tier businesses, we will change the world step-by-step and create value (more smiles) for various stakeholders.”

The investment focus is on growth areas, with a goal of achieving an operating margin of more than 10% across all its business areas.

The Graphic Communications unit will be reorganised into the Fujifilm Business Innovation segment, and the focus shifted from ‘value reconstruction’ to ‘earnings base’ with a goal to improve profitability.

“This is to develop business as the only ‘solution partner’ that can cover all areas from office to commercial and industrial,” Fujifilm stated.

In a nod to this week’s JV news, Fujifilm also flagged “business alliances with other companies to further strengthen business infrastructure by common procurement of raw materials and components, and building toner development and production supply systems” in its future plans.

The Business Innovation business, formerly Fuji Xerox, will incorporate Business Solutions, Office Solutions, and Graphic Communications.

Fujifilm said it had already responded to the decline in analogue printing by streamlining plate manufacturing – it shuttered its European platemaking plant last year.

Its future focus is on growing sales of high-value processless plates.

The expanded Business Innovation operation is expected to grow sales from ¥1,157bn to ¥1,275bn by financial year 2026.

Regarding its vision for its digital print offering, Fujifilm said: “In digital printing, it [Fujifilm Business Innovation] will invest in digital transformation (DX) of commercial printing, a growth market, and allocate resources to develop devices and DX solutions that meet customers' digital transformation needs.”

The manufacturer noted that in commercial printing, demand for large-volume analogue printing and monochrome printing would decline, while demand for high-mix, small-lot digital printing and colour printing would increase, “leading to greater needs for high-speed digital printing and DX. Also demands for commercial printing, such as heads for inkjet printers for package printing… and water-based pigment inks and colourants for food safety are increasing”.