Fujifilm Projects Lower Sales, Profits for FY 2020

Economy

Tokyo, Aug. 13 (Jiji Press)--Fujifilm Holdings Corp. <4901> said Thursday it expects lower sales and profits for fiscal 2020, dampened by weak sales of cameras and printing paper amid the coronavirus pandemic.

For the year through March 2021, Fujifilm Holdings forecasts a consolidated net profit of 120 billion yen, down 4.0 pct from the previous year.

Operating profit is estimated at 140 billion yen, down 25.0 pct, on sales of 2.2 trillion yen, down 5.0 pct.

The coronavirus crisis is expected to push down the company's full-year sales by 220 billion yen, operating profit by 65 billion yen and net profit by 45 billion yen.

"We made the projections based on the assumption that we'll see a gradual recovery after hitting the bottom in the first quarter," President Kenji Sukeno told an online press conference.

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