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Fujifilm planning to ‘give our world more smiles’
7 August 2026
Having defined its group purpose as ‘Giving our world more smiles, Japanese tech giant Fujifilm (Tokyo HQ office pictured here) has released plans to partially spin-off its ¥1,175bn Business Innovation wing as a separate listed company, to be listed separately on the Tokyo Stock Exchange, with Fujifilm likely to hold a stake of less than 20% in shares in the new entity, with the remaining shares distributed to shareholders through non-cash dividends.
Fujifilm Business Innovation includes Fuji’s Graphic Communications division, Office Solutions, and Business Solutions including document services, BPO and IT outsourcing. Its activities for the printing industry include toner devices, inks and inkjet printheads, and printing plates.
Since the beginning of the year Fujifilm has stopped selling its B2 sheetfed Jet Press and roll-fed Jet Press 1160CF in Europe, discontinued its Acuity wide-format inkjet range, and sold its flexo inks business in the Americas and Canda to Nazdar. And there is now industry speculation that Fujifilm could be poised to divest its printing plates manufacturing operations to a Chinese manufacturer.
In spite of the above, Fujifilm Business innovation remains a core operation for Fujifilm and currently accounts for around 35% of Fujifilm’s worldwide revenues. Operating income in the year to 31 March was ¥63.7bn.
Fujifilm acknowledges that Business Innovation has a solid earnings base and ‘strong cash-generating capability’, but sees the move to list the division separately as part of its Vision2030 medium-term management plan that ‘aims to further enhance the corporate value of the Fujifilm Group and evolve into a company that creates value – or ‘more smiles’ – for a wide range of stakeholders by promoting management with a strong emphasis on profitability and capital efficiency’.
If the spin-off goes ahead, Fujifilm Business Innovation Corp would still be able to use the Fujifilm brand, and have access to synergies across the wider group. The process is likely to take two-to-three years and is subject to various approvals including by shareholders and relevant authorities.
Fujifilm’s other core businesses are Healthcare, Electronics and Imaging.
Alongside the spin-off plans, the ¥3,357bn turnover Fujifilm Group also announced Q1 results for the three months to 30 June. Revenues reached a record high of ¥826.4bn, up 10.3%, but operating income fell by 32% to ¥51.2bn. For Business Innovation, sales were effectively flat at ¥273.2bn, while the unit made a ¥1.4bn loss compared to a ¥15.6bn profit in the same quarter the prior year. Sales within the Graphic Communications sub-segment were up 4.1% at ¥81bn. Fujifilm said it had brought in higher sales from inkjet printheads, but negative factors included lower demand for printing plates and related products, amid sluggish market conditions in Europe.
Fujifilm also confirmed there had been no significant damage at its Kumamoto manufacturing sites for display materials and semiconductors, after the earthquake on 28 July. Operations have resumed gradually from 2 August.
