Taking stock of photographic technology: Fujifilm finds new uses.
Fujifilm supplies cameras and instax to people taking photographs, office equipment and business services to companies, and diagnostic systems to healthcare providers. It also supplies materials to semiconductor manufacturers and develops and manufactures drugs for pharmaceutical customers.
Pharmaceutical customers secure capacity equivalent to 12 of 16 bioreactors
A Bio CDMO provides development and manufacturing services to pharmaceutical and biotech companies. Work can include developing cell lines and manufacturing processes, and producing clinical-trial or commercial medicines. Customers commission that work; Fujifilm uses its expertise and production facilities to carry it out (Bio CDMO briefing p.14).
Customers’ medicines, made in Fujifilm’s facilities
The Bio CDMO relationship. The development and manufacturing work depends on each customer program.
Pharmaceutical & biotech companies
Commission drug development and manufacturing
Development & manufacturing request→
Manufacturing-volume commitments
Secure the production capacity needed
Work taken on by Fujifilm→
Fujifilm’s Bio CDMO
Develop processes and manufacture medicines
Cell-line & process development → Clinical & commercial manufacturing
The 12/16-equivalent figure is capacity described as sold at the new U.S. site, including contracts and informal agreements on planned manufacturing volumes. It does not describe equipment ownership passing to customers.
Segment revenue for the year ended March 2026 (billions of yen). Actual results, with every bar on the same scale starting at zero.
Business Innovation¥1,174.8bn
Healthcare¥1,098.9bn
Imaging¥627.1bn
Electronics¥456.2bn
Source: earnings presentation, p.10. Electronics supplies semiconductor materials, display materials and data-storage media, among other products.
Imaging is 18.7% of revenue
Imaging still produced ¥160.0 billion of operating income
When film demand collapsed, Fujifilm made a “technology inventory”
One photograph required chemistry, thin films, imaging and precision processing
Fujifilm says its CMP slurry is No.1 for copper-wire applications
Fujifilm expects slurry usage to grow as wiring layers increase and applications expand in advanced packaging (Semiconductor Materials briefing p.37).
The FY2030 semiconductor-materials revenue target is ¥500 billion
THE VIEW AFTER THE NUMBERS
What the numbers suggest
Fujifilm has combined technologies developed for photography with acquired businesses to broaden the work it does for customers.
It supplies equipment and business services to offices and printers, and process materials to semiconductor manufacturers. In Bio CDMO, it takes on pharmaceutical customers’ development and manufacturing work and operates the facilities that perform it. The 12/16-equivalent figure describes progress in contracts and agreements for that manufacturing capacity.
For the year ended March 2026, Imaging accounted for 18.7% of revenue and produced ¥160.0 billion of operating income. Photography generates profits alongside businesses serving different customers through their own facilities, materials and services.
Tsubakimoto uses chain geometry and motion to build equipment that pushes loads upward. ZIP CHAIN meshes two chains into a rigid column, then separates them for storage in a compact case. Its wider Chain and Motion Control businesses nevertheless had very different operating margins in the year ended March 2026: 15.1% and 4.1%. Their April 2026 combination aims to extend product combinations into customer proposals and after-sales service. Its earnings effects still need to be established through future results.
