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January 31, 2006 – President and CEO of Fuji Photo Film Co. (the parent of Fujifilm), Shigetaka Komori, held a press conference on Tuesday concerning the restructuring of several Fuji business segments, including Fuji’s Imaging Solutions segment of which Fujifilm is a part. Concurrently, Fuji released a statement that Fujifilm will be implementing changes to their entire R&D, production and distribution structures.
Fuji explicitly lists "optimizing business systems for color film and other photosensitive materials" and a "structural reform of digital camera business" as their goals. The measures to achieve these goals, which include laying off 5,000 employees and appropriating ¥165 million to cover restructuring costs, will be implemented between now and March of 2007. Directed financial reorganization will take place less intensively, between now and 2008, with growth predictions extending out to 2010.
Fuji insists, however, that they will stay the course with film and not be pressured by digital demands through this creative reordering. In a very bold and sentimental statement, uncharacteristic in an age of corporate speak, Fuji reaffirmed its commitment to film:
"Photography is indispensable to humankind because of its ability to express the full spectrum of human emotions such as joy, sadness and love. Fujifilm believes that its mission is to preserve and nurture the culture of photography to meet the needs of our longtime customers," their press release stated.
Fuji also stated, "In order to sustain our photosensitive materials business, execution of the structural reforms is essential. Fujifilm will achieve drastic reduction in fixed costs and secure stable earnings for the Imaging Solutions segment in the fiscal year ending March 2008. Fujifilm intends to assert itself to continue to provide total imaging solutions from input to output by taking advantage of the merits of both analogue and digital imaging products and services. It will thus contribute to further development and expansion of the 'culture of photography'."
The Imaging Solutions segment of Fuji Photo Film Co. makes up 30% of its revenue.