Fuji Photo Film Co. said it plans to cut 5,000 jobs in Japan and abroad due to declining sales and weakening demand in the color film business as the company downgraded its revenue and profit forecasts for the fiscal year ending in March.
The company reported profits of 27.1 billion yen ($231 million) for the quarter through December, a 30.4 percent rise over the 20.8 billion yen posted for the same period the previous year.
Sales for the quarter rose 6.5 percent rise to 681.7 billion yen ($5.82 billion) from the previous 640.0 billion yen, while operating profit fell to 4.4 percent to 41.7 billion yen ($356 million) from 43.6 billion yen.
Weaker demand in Fuji Photo's imaging business, plus increased competition in the digital camera market, led the company to revise its profit forecast downward to 20 billion yen ($171 million) on 2.65 trillion yen ($22.6 billion) in sales.
Previously, the company had forecast a profit of 85 billion yen ($725 million) on sales of 2.7 trillion yen ($23 billion).
News stories provided by third parties are not edited by "Site Publication" staff. For suggestions and comments, please click the Contact link at the bottom of this page.