Report

PSA Technology / Pharma: Fujifilm Holdings (4901 JT) – Focus on Healthcare and Documents

Joel Scheiman continues his celebrated series of long shelf life, in-depth reports in the chemicals and electronic materials space with this exploration of Fujifilm Holdings. The report features a deep dive into Fujifilm’s contracts to manufacture vaccines and therapies for Covid-19 and discusses why the outlook for its Copier business looks more promising than that of its rivals. Moreover, we expect increased shareholder returns, modelling for dividends/share to rise from ¥95 in FY20 to ¥150 in FY24.
Underlying
FUJIFILM Holdings Corp

FUJIFILM Holdings is a holding company engaged in the manufacture and sale of imaging information products. Co.'s principal businesses are divided into three segments: imagining solution, information solution and document solution. Co.'s principal products and services are color films, digital cameras "FinePix," photofinishing equipment, color paper, as well as chemicals and services for photofinishing; equipment and materials for medical systems and life sciences, equipment and materials for graphic arts, flat panel display materials, recording media and optical devices; office copy machines/MFPs, printers, as well as production systems and services.

Provider
Pelham Smithers Associates Ltd
Pelham Smithers Associates Ltd

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries. 

The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012. 

Analysts
Joel Scheiman

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