Fuji Photo Profit Up in 2003 May 3, 2004

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Fuji Photo Film Co. said its net profit for fiscal 2003 jumped 69 percent from a year earlier to 82.3 billion yen (approx. U.S. $746.3 million).

The company said strong growth in films for flat-panel displays and multifunctional copiers offset a fall in its conventional camera film business.

Revenue grew 2.2 percent to a record 2.56 trillion yen, led by overseas sales, which increased 4.2 percent from a year earlier and now account for 48 percent of total sales.

During the year, the company enjoyed strong demand for components used for flat-panel displays, including antireflection films for liquid crystal panel (LCD) TVs.

Its copy machine business, run by subsidiary Fuji Xerox Co., also fared well with the release of popular multifunctional copiers.

Its digital still cameras also showed solid growth, with unit sales gaining 36 percent to 6.25 million during the year.

Film sales, however, continued to slide, although the rate of decline is slower than the overall market, officials said. (The Japan Times)

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