Japan's Fujifilm seeks tie-up with Olympus

January 30, 2012

Japanese film and camera maker Fujifilm has offered scandal-hit Olympus a capital and business tie-up, it said Monday as it announced a slump in third-quarter profits.

Fujifilm said it has formally proposed a link-up to Olympus' advisors, seeing synergies in the pair's medical operations, although it did not reveal details.

"Olympus has a very strong business in while Fujifilm is a leading firm in the areas of X-ray image diagnosis and ultrasonic systems," said a Fujifilm spokesman.

Olympus is reportedly seeking a corporate alliance to shore up its finances after admitting covering up $1.7 billion in losses, and several Japanese and foreign firms including Sony have been mentioned as possible partners.

Photographic film was once the mainstay of Fujifilm's business but it diversified into other areas, including healthcare, with the advent of digital cameras.

Nonetheless it announced that its net profit plunged to 8.8 billion yen ($114 million) in the three months to December, down 51.4 percent from 18.1 billion yen a year earlier.

Fujifilm's third-quarter sales dropped to 451.25 billion yen from 462.63 billion in the previous year, and despite tight cost controls operating profit fell to 26.5 billion yen, down from 36.60 billion a year earlier.

The company revised down its forecasts for the full year to March, expecting to post a net profit of 28 billion yen.

Fujifilm reported a of 63.85 billion yen in fiscal 2010.

The firm was for decades the main rival of , but the century-old US giant, which brought photography to the masses, filed for bankruptcy earlier this month as it succumbed to the market shift to digital.

Explore further: Sony rebounds to profit in April-June quarter

Related Stories

Sony rebounds to profit in April-June quarter

July 29, 2010

(AP) -- Sony bounced back to profit last quarter and raised its full-year earnings forecast, fueled by stronger demand for its PlayStation 3 gaming consoles, personal computers and televisions.

NEC sees losses triple

January 27, 2011

Japan's NEC said Thursday its net loss in the October-December quarter almost tripled from a year earlier, blaming a delay in the recovery of IT-related capital investment in the country.

Fujitsu 3Q net profit rises, cuts forecasts

January 28, 2011

Japanese IT giant Fujitsu said Friday its net profit for the October-December quarter quadrupled but warned that an uncertain outlook for capital expenditure forced it to lower full year forecasts.

Toshiba returns to black on smartphone chip demand

January 31, 2011

(AP) -- Toshiba Corp. said Monday it returned to the black in the October-December quarter thanks to robust global demand for the flash memory chips used in digital cameras and smartphones.

Canon profit drops, cuts forecasts due to tsunami

April 26, 2011

(AP) -- Canon said its first quarter profit dropped slightly on costs from an acquisition and Tuesday warned that full year earnings would take a hit from disrupted production due to Japan's earthquake and tsunami.

Recommended for you

On soft ground? Tread lightly to stay fast

October 8, 2015

These findings, reported today, Friday 9th October, in the journal Bioinspiration & Biomechanics, offer a new insight into how animals respond to different terrain, and how robots can learn from them.


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.