Back in April, we shared the news here on FujiRumors, that Fujifilm found some accounting irregularities at Fuji Xerox New Zealand. They immediatly launched an investigation and said that the yearly earnings reports will be published later than usual.

Today the international news agency Reuters said here that, according to media reports, accounting irregularities where found also in Australia and Japan.

After these media reports, just today (June 9, 2017) Fujifilm shares fall more than 4%.

There is still no official statement of Fujifilm. All Fujifilm told us today, is that they completed the investigations and on their website here they promised to release the earnings reports on June 12, along with the full text of the investigation report (first in Japanese, and an English summary at a later date)

Here is the full press text of Reuters:

Fujifilm Holding’s Corp’s shares fell more than 4 percent on Friday after a media report said accounting irregularities had spread to its Australian unit and to Japan.

By 0230 GMT, Fujifilm shares were trading 3.6 percent lower at a 7-month low of 3,983 yen.

Accounting problems have been found at Fuji Xerox Australia and in Japan, the business daily Nikkei said citing a source.

Losses could reach 30 billion yen to 50 billion yen ($272 million to $453 million), Nikkei added.

The report was not based on an announcement by the company, Fujifilm said in statement issued through the Tokyo Stock Exchange.

Fujifilm had previously postponed its earnings announcement for the year ended March due to an accounting probe into questionable practice at Fuji Xerox New Zealand Ltd.

The panel, made up of outside accountants and lawyers, will report its findings to the company on Saturday, Fujifilm said.

The company said it plans to announce the findings along with the delayed earnings release on June 12.

This blog post has been inspired by the latest “Fujifilm helps Nikon” rumors shared by the reputable Japanese Magazine Sentaku.

Who Struggles?

People, who are with Fujifilm since day 1 (like me, and I guess also many of you), will remember that for many years, the X-series was nothing but a black hole for Fujifilm. The imaging division was losing money. But starting from the X-T1, things have changed and the figures became more and more positive.

But while Fujifilm was growing and finally making profits, many other companies (like Nikon) were struggling. Here is just a little overview

• Samsung is gone, despite them offering a gorgeous camera like the Samsung NX1.
• Nikon reported extraordinary losses. I quote from the Nikon Report: “[…] consolidated operating income as a whole is expected to fall below the previous forecast, impacted by the sluggish and shrinking markets of digital cameras in the Imaging Products Business”
• Panasonic said they are “dismantling” some businesses and later clarified that they are restructuring the camera division, which will continue to operate under the new umbrella division.
• Lytro tried hard, but failed, even though they had an interesting concept.
• Pentax/Ricoh, so say the rumors, is struggling too.
• Hasselblad, was bought by the Chinese DJI

Competition & Monopolies

A few days ago, I was sitting with a friend, who teaches economics at the University, drinking a beer in the sun after work, and we were talking about cameras, since he wants to switch to mirrorless now (we all get older and appreciate lighter gear at a certain point :) ).

Of course I recommended him Fujifilm (the Fujifilm X-T20), but I honestly told him, that there is so much competition in the camera business, that all companies are pushing innovation and quality to such a high level, that he can’t do anything wrong even if he buys any other mirrorless camera.

At the end it depends on what he needs. I told him that if he wants an overheating playstation experience, get a Sony, but if he wants to have fun with a real photographic tool, he should get a Fuji – just kidding, Sony friends :) .

Anyway, our talk then switched to the topic of competition.

In short: my buddy told me that, at the end, competition always tends to create monopolies. I wouldn’t say it like in Highlander, that “there can be only one“, but yes, many will fail, and only the very best will survive.

And if my buddy is right, we should not be surprised to see more camera companies fail in the next 3 or 4 years or weak companies being acquired (completely or in parts) by some stronger ones. That’s how the market goes.

One thing is sure:

The final digital camera battle has begun, and it’s clear that some companies will perish and others will survive, in a market that is overall becoming smaller every year.

So the question today is….

… what should Fujifilm do in order to survive the battle? Are they on the right track already, or is there still something they should absolutely improve? You know they read us… so feel free to let Fujifilm know, what you think they should do to survive the digital camera battle.

*******

TO READERS 

IF YOU ARE A SENTAKU READER, CAN YOU PLEASE SEND ME THE ARTICLE (TRANSLATED or a SUMMARY)?

Send at: fujirumor@gmail.com

*******

Earlier today I shared the news, that a Japanese blogger and avid Sentaku Magazin reader said Nikon is in huge trouble, and is looking for investors. I also said that, since Chinese, Taiwanese and Korean companies are interested, the Japanese government is now moving, to try to keep Nikon in Japanese hands.

It created quite a buzz (and shitstorm… but I’m kind of used to them ;) ), so let me take a bit of time to explain it again:

Who is Sentaku?

According to Japanese FR-reader, Sentaku is a highly reputable Japanese magazine (60,000 copies sold a month), and covers four genres: world affairs, domestic politics, the domestic economy, and society and culture.

“Our readership is not limited to politicians, influential businesspeople and government officials; Sentaku’s writing also reaches out to intellectuals and leaders in all sectors, including medicine, education, culture, and the arts.”

Sure, you can consider “Sentaku” fake news… it makes no sense, but you can do it :)

NOTE: the Japanese blogger article quotes “Selection June edition” which is google translated for “Sentaku (selection) June edition“. Quite logical :)

Fujifilm Nikon Partnership

In the April edition of Sentaku, the Sentaku magazine writes that Nikon is in trouble. “Companies from Taiwan, South Korea and China reportedly are considering acquiring Nikon“.

The update in the June Magazine is, that the Japanese government is trying to convince Fujifilm to “help” Nikon, so that the company remains in Japanese hands. But don’t believe me… just read the Sentaku statement of June by yourself here.

“Reconstruction observation of Nikon and Fujifilm Holdings (HD) prestigious precision equipment including single lens reflex cameras is rapidly emerging. It is said that the Ministry of Economy, Trade and Industry, the main bank of Nikon, Bank of Tokyo-Mitsubishi UFJ (B …”

TRANSLATED BY A FR-READER: METI (ministry of trade and industry) and Bank of Tokyo-Mitsubishi UJF (Nikon’s main bank) are trying to broker a restructuring deal that involves Fujifilm Holdings.

Sadly we can’t read more, because Sentaku just shares a short excerpt and says the rest of the story is in the magazine.

But there is a Japanese blogger, who is an avid Sentaku reader, and he perfectly quotes the Sentaku June edition (and also the April edition, which is available online). On his blog he writes that (google translated)

“the Ministry of International Trade and Industry are intermediating and are trying to attract them [Nikon] to Fujifilm.”

The Japanese blogger (and Sentaku reader) has written a blog post with his thoughts about the Sentaku article, which I’ve shared here. So you get much more insight than the limited excerpt at the Sentaku website (the full article will be online next month I think).

And once again I can say (to the shitstormers)…

“I told you” ;)

Of course, the news again will now spread on all blogs… but for FR readers, it will be, once again, just old news ;)

Take care, fellow readers…. and be sure that I will treat you all guys with the highest respect and always work hard to deliver accurate news and rumors, just like today :)

I don’t pretend perfection, sure, but at least to get as close to it as possible (except for my English).
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