Fujifilm records 10.9% revenue fall but pushes R&D

Fujifilm has recorded at 10.9% drop in revenue to 1.9tr Yen (15bn) across its divisions, including its Xerox joint venture, as the impact of the strong yen and the economic downturn took its toll on the company.

The group recorded a 9.7% fall in revenue in its Information Solutions division, which includes its inkjet products, and a 5.3% fall in revenue in its Xerox joint venture Document Solutions unit.

According to a statement released by the company, graphic arts business sales declined due to drops in the number of newspaper pages and the volumes of "other published materials".

However, the plate and inkjet specialist said that it is now targeting growth in the wide-format inkjet market, through its Acuity products.

In addition, its production service business, contained within the Document Solutions division and led by the DocuColor joint venture with Xerox, posted an increase in domestic sales.

Fujifilm Graphic Systems UK director Keith Dalton said that it was going to be a tough year for the UK market but said the company was holding its own.

"We have made market share gains," he said. "In addition our plate business is holding up and we are experiencing a softer landing that other suppliers that are volume dependent."

Dalton said that it was encouraging that Fujifilm was increasing its investment in research and development, which was up 7.5% year-on-year.

"We will be well-positioned when the economy starts to turn up again," he said.