Core Viewpoint - Fujifilm Holdings Corporation reported strong financial performance for the first quarter of the fiscal year 2025, with both sales revenue and operating profit reaching historical highs for the same period [1]. Financial Performance - Sales revenue for the first quarter was 749.5 billion yen, a year-on-year increase of 0.1% [1]. - Operating profit rose by 21.1% year-on-year to 75.3 billion yen [1]. - The imaging segment saw a significant sales revenue increase of 11.2%, reaching 145.3 billion yen, with operating profit up 28.4% to 41.8 billion yen [1]. Business Segments - The strong growth in the Bio CDMO, semiconductor materials, and imaging business segments contributed to the overall excellent performance in the first quarter [1]. - The medical health business reported sales revenue of 228.5 billion yen, a slight decrease of 2.9% year-on-year, but operating profit increased by 20.7% to 4.3 billion yen [4]. - The electronic materials business had sales revenue of 102.1 billion yen, a minor decline of 0.9%, while operating profit rose by 13% to 22.5 billion yen [4]. - The commercial innovation business reported sales revenue of 273.6 billion yen, down 2.3%, but operating profit increased by 7.9% to 15.6 billion yen [4]. Market Trends - The "peel-apart film" gained popularity due to endorsements from celebrities, leading to a surge in demand and prices for related products [2][3]. - The official price for Fujifilm Instax mini film is 7,200 yen for 20 sheets, but due to limited production, prices in the second-hand market have increased significantly [4]. Future Outlook - The company maintains its full-year performance forecast for fiscal year 2025, expecting sales revenue of 3.28 trillion yen, operating profit of 331 billion yen, and net profit attributable to Fujifilm Holdings of 262 billion yen [4].

Core Viewpoint - Fujifilm Holdings Corporation reported its financial performance for the first quarter of the fiscal year 2025, showing mixed results with a slight increase in sales but a decline in net profit due to foreign exchange losses [1] Group 1: Financial Performance - Sales revenue for the first quarter reached 749.5 billion yen, a year-on-year increase of 0.1% [1] - Operating profit increased by 21.1% year-on-year, amounting to 75.3 billion yen [1] - Net profit attributable to Fujifilm Group decreased by 11.5% year-on-year, falling to 53.8 billion yen due to foreign exchange losses [1] Group 2: Business Segment Performance - The imaging segment showed strong performance with sales revenue growing by 11.2% year-on-year to 145.3 billion yen, and operating profit rising by 28.4% to 41.8 billion yen, driven by instant imaging systems [1] - The medical health business reported sales revenue of 228.5 billion yen, a slight decrease of 2.9% year-on-year, while operating profit increased by 20.7% to 4.3 billion yen [3] - The electronic materials business had sales revenue of 102.1 billion yen, a minor decline of 0.9%, with operating profit increasing by 13.0% to 22.5 billion yen [3] - The commercial innovation business saw sales revenue of 273.6 billion yen, down 2.3% year-on-year, but operating profit grew by 7.9% to 15.6 billion yen [3] Group 3: Future Outlook - The company maintains its full-year performance forecast for fiscal year 2025, expecting sales revenue of 3,280 billion yen, operating profit of 331 billion yen, and net profit of 262 billion yen, aiming for historical highs [3]

Core Viewpoint - The resurgence of "Peel-apart film" or "撕拉片" is driven by its unique manual development process and retro aesthetic, leading to increased demand and skyrocketing prices in the market [12][14]. Group 1: Historical Context - Peel-apart film was invented by Edwin Land in the 1940s, allowing instant photo development, which became popular in the 1960s and 1970s [6]. - The production of peel-apart film ceased in 2008 for Polaroid and in 2016 for Fujifilm, marking the end of an era for this once-mainstream product [6]. Group 2: Technical Aspects - The basic principle of peel-apart film involves a light-sensitive negative and a positive film with a chemical pouch [8]. - The development process includes exposing the negative to light, breaking the chemical pouch, and separating the negative and positive to reveal the final image [9][11]. - Unlike instant cameras that automatically eject photos, peel-apart film requires manual extraction, which introduces variability in the development process [10]. Group 3: Market Dynamics - The current market for peel-apart film is characterized by a supply-demand imbalance, with prices for a box of 10 sheets rising from around 65-70 yuan to several hundred or even over a thousand yuan [12]. - The scarcity of available products has led to a perception of high collectible value, with some referring to it as "paper Maotai" due to its inflated prices [14]. Group 4: Consumer Behavior - Consumers are drawn to the unique experience of using peel-apart film, despite the risks of expired products leading to potential development failures [15]. - There are two main consumption models: one where consumers pay regardless of whether an image develops, and another where businesses guarantee a photo but not its quality [15].