Structural Reform of the Imaging Business and Stable Profitability
First written in FY2016. 8 of 20 entries say "Advanced", first in FY2017-Q3. Latest entry: FY2023.
Olympus moved to the "Worse" side of this theme in 2018.
13 other companies' latest entry also says "Achieved".
- FY2023AchievedAnnual report
「On 20 March 2023, we transferred 5% of the total shares in OMデジタルソリューションズ株式会社 held by the Company, representing 5% of the total shares issued, to OJホールディングス株式会社.」
The remaining 5% interest in the imaging business was also transferred, ending the capital relationship. - FY2021-Q3AdvancedAnnual report
「We determined that incorporating the imaging business to create a more compact, financially stronger and more agile organizational structure, and operating the business under JIP, would help achieve autonomous and sustainable growth in the imaging business.」
As part of the structural reform of the imaging business, the incorporation of the business and its transfer to JIP were completed on 1 January 2021, moving from the stage of pursuing stable profit generation within the Company to the stage of pursuing autonomous and sustainable growth under an external partner. - FY2021-Q2ReframedAnnual report
「Accordingly, from the second quarter of the current consolidated fiscal year, the imaging business has been classified as a discontinued operation.」
The focus shifted from pursuing stable profit generation for the imaging business within the Company to a policy of incorporating and transferring the business and treating it as a discontinued operation. - FY2021-Q1WorsenedAnnual report
「The imaging business recorded consolidated revenue of ¥6,024 million, down 40.9% year on year, and an operating loss of ¥2,746 million, compared with an operating loss of ¥2,341 million in the same period of the previous year.」
The imaging business recorded a 40.9% decline in revenue due to fewer visits to physical stores caused by the infectious disease and the rise of smartphones, while its operating loss widened from the same period of the previous year. - FY2020AdvancedAnnual report
「The imaging business recorded consolidated revenue of ¥43,615 million, down 10.4% from the previous fiscal year, and an operating loss of ¥10,393 million, compared with an operating loss of ¥18,268 million in the previous fiscal year. The operating loss narrowed because the previous fiscal year included one-time expenses associated with the reorganization of production sites, recorded as other expenses, and because expense efficiencies were pursued.」
Although the imaging business continued to record lower revenue and a loss, its loss narrowed due to the absence of one-time expenses related to the reorganization of production sites and expense efficiencies. - FY2020-Q3AdvancedAnnual report
「The imaging business recorded consolidated revenue of ¥34,747 million, down 9.4% year on year, and an operating loss of ¥7,377 million, compared with an operating loss of ¥13,129 million in the same period of the previous year. The operating loss narrowed because the previous period included one-time expenses associated with the reorganization of production sites, recorded as other expenses, and because expense efficiencies were pursued.」
Although the imaging business continued to record lower revenue and a loss, its operating loss narrowed from the same period of the previous year because the previous period's one-time expenses were no longer incurred and expense efficiencies were achieved. - FY2020-Q2WorsenedAnnual report
「The imaging business recorded consolidated revenue of ¥21,302 million, down 17.0% year on year, and an operating loss of ¥5,697 million, compared with an operating loss of ¥9,226 million in the same period of the previous year. Revenue declined due to intensifying competition in the mirrorless market while the business awaited the introduction of new products, among other factors.」
Although the operating loss narrowed from the same period of the previous year, revenue declined 17.0% and the business remained loss-making due to intensifying competition in the mirrorless market and the period before new product launches. - FY2020-Q1WorsenedAnnual report
「The imaging business recorded consolidated revenue of ¥10,189 million, down 26.7% year on year, and an operating loss of ¥2,341 million, compared with an operating loss of ¥5,785 million in the same period of the previous year. Revenue declined due to the effects of awaiting the introduction of new products and worsening market conditions for mirrorless cameras, among other factors.」
The imaging business recorded a 26.7% revenue decline due to the period before new product launches and worsening market conditions for mirrorless cameras. Although the operating loss narrowed from the same period of the previous year, the business remained loss-making. - FY2019WorsenedAnnual report
「The imaging business recorded consolidated revenue of ¥48,679 million, down 19.3% from the previous fiscal year, and an operating loss of ¥18,268 million, compared with an operating loss of ¥1,200 million in the previous year.」
The imaging business's revenue declined 19.3%, and its operating loss widened from ¥1,200 million in the previous year to ¥18,268 million. - FY2019-Q3WorsenedAnnual report
「The imaging business recorded consolidated revenue of ¥38,338 million, down 19.0% year on year, and an operating loss of ¥13,129 million, compared with operating income of ¥1,493 million in the same period of the previous year. Revenue declined partly because intensifying competition in the mirrorless market and the reorganization of production sites constrained the supply of some existing products and the number of new products. The imaging business recorded a loss due to lower revenue, expenses associated with the reorganization of production sites and an impairment loss of ¥1,345 million.」
For the nine-month period, the imaging business recorded a 19.0% decline in revenue and turned from operating profit in the same period of the previous year to an operating loss of ¥13,129 million. Intensifying competition, constraints on supply and the number of new products, restructuring costs and an impairment loss are described. - FY2019-Q2WorsenedAnnual report
「The imaging business recorded consolidated revenue of ¥25,678 million, down 16.0% year on year, and an operating loss of ¥9,226 million, compared with operating income of ¥1,618 million in the same period of the previous year. Revenue declined partly because the reorganization of production sites constrained the supply of some products. The imaging business recorded a loss due to lower revenue and expenses associated with the reorganization of production sites.」
The imaging business's revenue declined 16.0% in the first half, and results turned from operating profit in the same period of the previous year to an operating loss of ¥9,226 million. Supply constraints and expenses associated with the reorganization of production sites are described as factors contributing to the deterioration relative to stable profit generation. - FY2019-Q1WorsenedAnnual report
「The imaging business recorded consolidated revenue of ¥13,891 million, down 8.2% year on year, and an operating loss of ¥5,785 million, compared with operating income of ¥886 million in the same period of the previous year.」
The imaging business recorded an 8.2% decline in revenue in the first quarter and turned from operating profit in the same period of the previous year to an operating loss. - FY2018WorsenedAnnual report
「The imaging business recorded consolidated revenue of ¥60,298 million, down 4.0% from the previous fiscal year, and an operating loss of ¥1,200 million, compared with operating income of ¥153 million in the previous year. The imaging business recorded a loss due to lower revenue and expenses associated with the reorganization of production sites.」
The imaging business turned from operating profit to an operating loss for the full year, indicating deterioration relative to the goal of generating stable profits. - FY2018-Q3AdvancedAnnual report
「The imaging business recorded consolidated revenue of ¥47,313 million, up 1.1% year on year, and operating income of ¥1,493 million, up 76.9% year on year. In the mirrorless interchangeable-lens camera sector, sales of products including the flagship mirrorless interchangeable-lens camera OM-D E-M1MarkⅡ, launched in the previous fiscal year, remained firm and expanded revenue, resulting in higher revenue for the imaging business as a whole. The imaging business recorded higher operating profit year on year due to progress in reducing expenses and other factors.」
For the nine-month period, the imaging business recorded 1.1% revenue growth and 76.9% operating profit growth, with mirrorless interchangeable-lens camera sales and expense reductions contributing to the improvement in profitability. - FY2018-Q2AdvancedAnnual report
「The imaging business recorded consolidated revenue of ¥30,569 million, up 7.2% year on year, and operating income of ¥1,618 million, compared with an operating loss of ¥1,352 million in the same period of the previous year.」
The imaging business recorded 7.2% revenue growth in the first half and turned from an operating loss to operating profit. The expansion of mirrorless interchangeable-lens camera sales and expense reductions are described. - FY2018-Q1AdvancedAnnual report
「The imaging business's operating results turned from a loss in the same period of the previous year to a profit due to progress in reducing expenses and other factors.」
The imaging business turned from an operating loss in the same period of the previous year to operating profit through expense reductions and other measures, indicating progress toward stable profit generation. - FY2017AdvancedAnnual report
「The imaging business recorded consolidated revenue of ¥65,574 million, down 16.2% from the previous fiscal year, and operating income of ¥498 million, compared with an operating loss of ¥2,064 million in the previous year. Operating profit turned from a loss in the previous fiscal year to a profit due to progress in reducing expenses and the effects of introducing new products, including the flagship mirrorless interchangeable-lens camera OLYMPUS OM-D E-M1Mark II.」
Although revenue declined due to market contraction, operating results turned from an operating loss to operating profit for the full year due to expense reductions and the effects of new products. - FY2017-Q3AdvancedAnnual report
「The imaging business recorded revenue of ¥48,802 million for the nine-month period of the third quarter of the consolidated fiscal year, down 21.3% year on year, and operating income of ¥747 million, up 654.5% year on year. Operating profit increased due to progress in reducing expenses and the effects of introducing new products, including the flagship mirrorless interchangeable-lens camera OLYMPUS OM-D E-M1 Mark II.」
Although revenue declined due to market contraction, the imaging business secured operating profit for the nine-month period through expense reductions and the effects of new product launches. - FY2017-Q2RestatedAnnual report
「In addition to optimizing the scale of the business in line with market contraction, sales in the imaging business declined partly because supply of some products was delayed by the Kumamoto earthquake in April 2016.」
The business continues to optimize its scale in line with market contraction. - FY2016First statedAnnual report
「In the imaging business, we will pursue further business-structure reforms to establish a framework capable of generating stable profits, while improving our ability to respond to market changes and further reducing inventory risk.」
In response to market contraction, the measures identified were a profit-generating framework, stronger market responsiveness and lower inventory risk.