Shares fell as much as 18% after first-quarter earnings missed analyst estimates, while Fujifilm reviewed a partial spin-off of its Business Innovation unit.
Fujifilm Holdings said April-June fiscal 2026 net profit fell 30% year-on-year to ¥37.4 billion as launch costs at new biopharmaceutical CDMO plants, higher raw material and component costs, and ERP overhaul expenses weighed on earnings. Revenue rose 10% to ¥826.4 billion, but operating profit of about ¥51.1 billion to ¥51.2 billion missed Bloomberg's ¥77.1 billion analyst estimate, and the stock fell as much as 18%, its steepest drop on record. The company raised its full-year revenue forecast to ¥3.56 trillion on stronger semiconductor materials sales but kept net profit guidance at ¥280 billion, and said it is studying a partial spin-off and Tokyo Stock Exchange listing of Fujifilm Business Innovation within two to three years, with Fujifilm retaining less than 20% if the plan proceeds.