FUJIFILM Holdings Corp. (FUJIY) Stock Price & How to Invest
Last updated October 2026
Short answer
FUJIY is the US over-the-counter ADR for FUJIFILM Holdings, the Tokyo-listed conglomerate that turned a dying film business into healthcare, biologics manufacturing, semiconductor materials, instax cameras and office printing. Each ADR equals half an ordinary share and traded near ~$10.83 in late October 2026. It is a diversified, dividend-paying, mid-teens P/E holding whose near-term story hinges on fixing Bio CDMO profitability.
FUJIY stock price
As of 2026-10-28, FUJIFILM Holdings Corp. (FUJIY) last closed at $10.93, down 4.9% over the past year. Over the past 52 weeks it has traded between $8.96 and $12.06.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or FUJIFILM Holdings Corp.'s investor relations page. Walnut is informational, not investment advice.
What does FUJIFILM Holdings Corp. (FUJIY) do?
FUJIFILM Holdings is best known for photographic film, but film is now a small slice of a ~¥3.4 trillion revenue company. It runs four segments. Healthcare covers medical imaging systems (X-ray, endoscopy, ultrasound, CT and MRI), life science reagents and, most importantly, Bio CDMO: contract manufacturing of biologic drugs for pharmaceutical customers. Electronics sells photoresists, CMP slurries and other semiconductor process materials, plus display films and data storage tape. Imaging includes the instax instant camera line and the X and GFX series of digital cameras. Business Innovation is the former Fuji Xerox office printing and document services arm. FUJIY is an OTC-traded ADR in which one ADR represents 0.5 of a Tokyo share (ticker 4901), which closed near ¥3,416 in late October 2026.
The fiscal year ended March 2026 was a record: revenue of ~¥3,357 billion (+5.0%), operating income of ~¥350.2 billion (+6.1%) and net income of ~¥276.7 billion (+6.0%), with the dividend raised for a 16th straight year to ¥70 per share. The first quarter of the current year (April to June 2026) was mixed. Revenue hit a first-quarter record of ~¥826.5 billion (+10.3%), but operating income fell ~32% to ¥51.2 billion. Healthcare swung to a ¥12.7 billion operating loss as small and mid-scale US biologics plants paused for regulatory inspections and the new Holly Springs, North Carolina site carried start-up costs. Business Innovation also posted a loss on one-time restructuring. Electronics (+25% revenue, +38% operating income) and Imaging (+16% revenue) did the heavy lifting.
The investment picture is a conglomerate in transition. Management kept full-year guidance at ~¥365 billion of operating income and ~¥280 billion of net income while raising revenue guidance to ~¥3,560 billion, but it cut the Healthcare profit target from ¥69 billion to ¥41 billion and raised Electronics and Business Innovation to compensate. At ~$10.83 per ADR, the market capitalization is roughly ~$26 billion, about 15.7x trailing earnings. First-half results are due in early November 2026, and the key question is whether the Bio CDMO losses narrow as large-scale capacity fills.
What's driving FUJIFILM Holdings Corp. (FUJIY)?
1. Bio CDMO scale-up at Holly Springs and Denmark
Fujifilm has spent several hundred billion yen building large-scale cell culture capacity for biologic drugs, anchored by the Holly Springs, North Carolina campus and an expanded site in Hillerod, Denmark. Bio CDMO revenue was ~¥57.7 billion in the June 2026 quarter, up ~6.4%, but the unit lost money as smaller US plants paused for inspections and the new site absorbed fixed costs before full utilization. Long-term supply contracts with large pharmaceutical customers are meant to fill these lines through the late 2020s. If utilization climbs as planned, this is the business with the most operating leverage in the group; the cut in Healthcare guidance from ¥69 billion to ~¥41 billion shows how far behind schedule that payoff currently sits.
2. Semiconductor materials riding AI chip demand
Electronics is now the group's fastest-growing profit engine. In the June 2026 quarter, segment revenue rose ~25% to ~¥127.7 billion and operating income rose ~38% to ~¥31.1 billion, a ~24% margin. Semiconductor Materials alone grew ~31% to ~¥84.9 billion, driven by advanced-node and AI-related demand for photoresists, CMP slurries, cleaning chemicals and image-sensor color materials. Management raised the full-year Electronics profit target from ¥106 billion to ~¥120 billion. Data storage tape for hyperscale archiving adds a second, quieter AI-adjacent tailwind. This segment ties FUJIY to the semiconductor capex cycle, which helps in an upswing and would hurt in a memory or foundry slowdown.
3. instax and premium cameras in Imaging
Imaging is a surprisingly durable profit pool. Segment revenue rose ~15.7% to ~¥627 billion in the year ended March 2026, and the segment is guided to ~¥162 billion of operating income this year, more than any other unit. Consumer Imaging, led by instax instant cameras and film packs, grew ~25% in the June quarter to ~¥96.7 billion, helped by a weaker yen. Professional Imaging (X and GFX mirrorless cameras, broadcast and cinema lenses) grew ~6% in yen but fell at constant currency. The recurring film-pack revenue behind instax gives the segment a razor-and-blade quality, though consumer fads and currency translation make it more volatile than the steady margins suggest.
4. Business Innovation restructuring and a possible spin-off
Business Innovation, the former Fuji Xerox, generated roughly a quarter of revenue but has been shrinking in office hardware (Office Solutions fell ~4.6% in the June quarter). Management booked one-time restructuring costs that pushed the segment to a ~¥1.4 billion quarterly loss, yet raised its full-year profit target from ¥65 billion to ~¥80 billion, implying a sharp recovery once those charges pass. Fujifilm has also said it is assessing a partial spin-off of the business within two to three years. A separation could sharpen the group's healthcare and materials identity and unlock value, though timing, structure and price are not yet defined, and the core printing market remains in slow structural decline.
What are the risks to FUJIFILM Holdings Corp. (FUJIY)?
The largest near-term risk is Bio CDMO execution. Regulatory inspection pauses at US plants and delayed profitability at Holly Springs already forced a ~¥28 billion cut to the Healthcare profit target, and further FDA observations, customer program cancellations or slower utilization would extend losses on a very large fixed-cost base. Electronics is cyclical and tied to chipmakers' capex and inventory swings, so a semiconductor downturn would hit the segment currently carrying the group. Currency is a two-way risk for ADR holders: a weaker yen flatters reported yen profits but lowers the dollar value of each ADR, while a sharp yen rally would reverse recent translation gains. US tariffs and higher raw material and energy costs (management flagged Middle East tensions) pressure margins. Business Innovation is a structurally declining office-print market, and a spin-off could disappoint. Finally, FUJIY trades over the counter with thinner liquidity and wider spreads than the Tokyo line, and dividends are paid in yen, converted, and may face Japanese withholding tax.
Is FUJIY a buy or a sell?
We give no verdict on FUJIFILM Holdings Corp.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.
The case for buying. Bio CDMO scale-up at Holly Springs and Denmark. Fujifilm has spent several hundred billion yen building large-scale cell culture capacity for biologic drugs, anchored by the Holly Springs, North Carolina campus and an expanded site in Hillerod, Denmark.
The case against. The largest near-term risk is Bio CDMO execution.
Read the full bull and bear case on FUJIY, including what would have to change to break either one. Walnut is not an investment adviser.
How is FUJIFILM Holdings Corp. (FUJIY) valued? (approximate, October 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see FUJIFILM Holdings Corp.'s investor relations page or your broker.
- ADR price: ~$10.83 (1 ADR = 0.5 share; Tokyo ~¥3,416)
- Market cap: ~$26 billion (~¥4.1 trillion)
- Revenue (TTM): ~¥3.43 trillion (~$21.8 billion)
- Net income (TTM): ~¥260 billion (~$1.65 billion)
- P/E (TTM / forward): ~15.7x / ~14.6x
- Dividend yield: ~2.2% (¥75 per share guided)
Trailing figures combine the fiscal year ended March 2026 with the weaker June 2026 quarter, so trailing net income (~¥260 billion) sits below the full-year guide of ~¥280 billion. On that guide, forward earnings are roughly ¥234 per Tokyo share, or about ¥117 per ADR. The valuation sits between pure-play materials suppliers, which often trade above 20x, and office-equipment peers near 10x, which reflects the conglomerate mix. The stock is near the middle of its 52-week ADR range of ~$8.93 to ~$12.18.
Who competes with FUJIFILM Holdings Corp. (FUJIY)?
Biologics contract manufacturers
Samsung Biologics, Lonza, WuXi Biologics and Thermo Fisher's Patheon unit compete with Fujifilm Diosynth for large-scale monoclonal antibody and biologic production contracts. Samsung Biologics and Lonza are the scale leaders, so Fujifilm's large new capacity in the US and Denmark is a bid to match them, with the US BIOSECURE debate potentially steering work away from Chinese rivals.
Medical imaging and semiconductor materials
In medical systems Fujifilm faces GE HealthCare, Siemens Healthineers, Philips, Canon Medical and Olympus (endoscopy). In semiconductor process materials the rivals are JSR, Tokyo Ohka Kogyo, Shin-Etsu Chemical, Sumitomo Chemical, Entegris and DuPont. These comparisons matter because materials peers often trade at higher multiples than Fujifilm's blended valuation.
Cameras and office printing
In imaging, Fujifilm competes with Canon, Sony and Nikon in mirrorless cameras, while instax faces limited direct rivalry beyond Polaroid and smartphone photography itself. Business Innovation competes with Canon, Ricoh, Konica Minolta, Kyocera, HP and Xerox in office printers, managed print services and production printing, a mature market.
What stocks are similar to FUJIFILM Holdings Corp. (FUJIY)?
Other names that sit close to FUJIY: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.
How to invest in FUJIFILM Holdings Corp. (FUJIY)
There are three common ways to get FUJIY exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so FUJIY sits alongside other stocks that express the same thesis.
Walnut takes the portfolio route. Describe a thesis where FUJIY fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on FUJIFILM Holdings Corp. (FUJIY)
FUJIY offers diversified Japanese industrial exposure at ~15.7x trailing earnings with a ~2.2% yield, where strong chip materials and instax demand currently carry a Bio CDMO unit still working through costly US start-up problems.
More on FUJIFILM Holdings Corp. (FUJIY)
Whether FUJIY is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is FUJIY a buy or a sell?, and where the stock could go from here in the FUJIY stock forecast.
For income investors, whether FUJIY pays a dividend and how the payout looks is covered in does FUJIY pay a dividend? And to weigh FUJIY against a peer, read the full side-by-side comparisons: FUJIY vs GEHC and FUJIY vs SIEGY.
Wondering how FUJIY fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in FUJIFILM Holdings Corp. with AI
Connect the broker you already use and ask Walnut's AI how FUJIY fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is FUJIY?
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FUJIY is the ticker for FUJIFILM Holdings' American Depositary Receipt, which trades over the counter in the United States in US dollars. The underlying company is listed on the Tokyo Stock Exchange under code 4901. Each FUJIY ADR represents half of one ordinary Tokyo share, so two ADRs equal one share. In late October 2026 the ADR traded near ~$10.83 while the Tokyo shares were around ¥3,416, which, at roughly ¥157 per dollar, lines up with that 0.5 ratio. A separate ticker, FUJIF, represents the ordinary shares themselves on the OTC market. The ADR lets US investors hold the company through a regular brokerage account, with dividends converted to dollars, though liquidity is thinner than on the Tokyo exchange and bid-ask spreads can be wider.
How does Fujifilm make money today if film is mostly gone?
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Fujifilm reinvented itself after digital photography collapsed the film market in the 2000s, applying its chemistry and coating expertise to new industries. Today it has four segments. Healthcare (medical imaging, life sciences and Bio CDMO drug manufacturing) is the largest strategic bet. Electronics sells semiconductor materials and data storage tape. Imaging, which includes instax instant cameras and X and GFX digital cameras, generated ~¥627 billion of revenue in the year ended March 2026 and is guided to be the biggest profit contributor this year. Business Innovation is the former Fuji Xerox office printing and document services business, about a quarter of sales. Traditional photographic film is now a minor part of the Imaging segment rather than the core of the company.
What were Fujifilm's most recent results?
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For the fiscal year ended March 2026, Fujifilm reported record revenue of ~¥3,357 billion (+5.0%), operating income of ~¥350.2 billion (+6.1%) and net income of ~¥276.7 billion (+6.0%). The June 2026 quarter, the latest reported as of late October 2026, showed record first-quarter revenue of ~¥826.5 billion (+10.3%) but operating income down ~32% to ¥51.2 billion. The drop came from a Healthcare operating loss tied to Bio CDMO inspection pauses and start-up costs, plus one-time Business Innovation restructuring. Electronics and Imaging both grew strongly. The company kept full-year guidance of ~¥365 billion operating income and ~¥280 billion net income. First-half results (April to September 2026) are expected in early November 2026 and will show whether the Healthcare drag has started to ease.
Did FUJIY have a stock split, and how does it affect the ADR?
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Yes. Fujifilm carried out a three-for-one split of its ordinary shares effective April 2024, which is why the Tokyo share price now sits in the low thousands of yen rather than near ¥10,000 as before. Splits at the ordinary level can change the ADR math, so it is worth checking the ratio rather than assuming it. Comparing prices in late October 2026 confirms the current ratio: ¥3,416 per Tokyo share divided by ~¥157.5 per dollar is about $21.70, and half of that is ~$10.85, matching the ~$10.83 ADR price. That means each FUJIY ADR equals 0.5 ordinary share. Per-share figures quoted in yen (earnings, dividends) should be halved to get the per-ADR equivalent before currency conversion.
Does FUJIY pay a dividend?
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Yes. Fujifilm paid ¥70 per ordinary share for the fiscal year ended March 2026, its 16th consecutive annual increase, and guides to ¥75 per share for the current year, which would be a 17th straight rise. At the late October 2026 Tokyo price near ¥3,416, the guided dividend works out to a yield of roughly ~2.2%. Because each ADR represents half a share, the per-ADR equivalent is about ¥37.5 a year, or roughly ~$0.24 at current exchange rates, paid in two installments. ADR holders receive the dividend in dollars after the depositary converts it and deducts its fees, and Japanese withholding tax typically applies, which US holders may be able to claim as a foreign tax credit depending on their situation.
Why did the Healthcare segment lose money recently?
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In the June 2026 quarter, Healthcare revenue rose ~12.4% to ~¥256.8 billion, yet the segment posted a ~¥12.7 billion operating loss versus a small profit a year earlier. The cause was Bio CDMO, the contract biologics manufacturing business. Some small and medium-scale US facilities had unplanned shutdowns related to regulatory inspections, which cut output while costs continued. At the same time, the large new Holly Springs, North Carolina campus carried depreciation, staffing and validation costs before running at full commercial utilization. Management responded by cutting its full-year Healthcare operating income target from ¥69 billion to ~¥41 billion. Medical Systems and life science products still grew, so the issue is concentrated in one capital-heavy unit rather than across the whole segment.
How is FUJIY valued compared with peers?
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At ~$10.83 per ADR in late October 2026, Fujifilm's market capitalization is roughly ~$26 billion. Trailing net income of about ¥260 billion implies a price-to-earnings ratio of ~15.7x, and the ~¥280 billion full-year guide implies about ~14.6x forward. That sits below many pure-play semiconductor materials suppliers and biologics manufacturers, which have often traded above 20x earnings, and above mature office-equipment companies such as Ricoh or Konica Minolta, which trade closer to 10x or lower. The blended multiple reflects the conglomerate structure: investors get growth businesses packaged with a declining print unit and a Bio CDMO operation that is not yet profitable. A Business Innovation spin-off or a Bio CDMO turnaround are the developments most often cited as potential re-rating triggers.
What are the main things to watch for FUJIY?
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Four items stand out as of October 2026. First, the early November first-half results, especially whether Bio CDMO losses narrow and whether management holds the ~¥365 billion operating income guide. Second, utilization and customer ramp-ups at the Holly Springs site and the outcome of US regulatory inspections at the smaller plants. Third, the semiconductor cycle, since Electronics is currently delivering much of the profit growth and is exposed to chipmakers' spending plans. Fourth, any concrete plan for the partial spin-off of Business Innovation. Exchange rates also matter: the ADR's dollar price moves with both the Tokyo share price and the yen. Walnut is not an investment adviser, and this summary is descriptive information rather than a recommendation.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with FUJIFILM Holdings Corp.'s investor relations page or your broker before making investment decisions.