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4-Traders Homepage  >  Equities  >  Tokyo  >  FUJIFILM Holdings Corp    4901   JP3814000000

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Fujifilm : to close Hawaii office, lay off workers

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09/29/2016 | 06:06pm CEST

Sept. 29--Fujifilm North America Corp. is closing its Hawaii regional office in Waipahu by the end of March amid volatile market conditions.

The facility, established in 2002, has 24 employees, most of whom will be laid off when the office closes by March 31, the end of the company's fiscal year.

Several will be retained as local sales representatives, though an exact number wasn't available, said Joan Rutherford, vice president of corporate communications at Fujifilm Holdings America Corp. in New York.

"This was a very hard business decision based on market conditions, which was reached only after considering many other options, and in no way reflects on the commitment and dedication of our Hawaii employees," she said. "Fujifilm will continue to maintain a sales force and manage distribution in Hawaii. Going forward, customers will continue to be serviced by their local sales personnel, while manufacturing will be provided by other Fujifilm facilities."

Laid-off workers will be offered transition support, including severance and outplacement services, she added.

The company also is selling its 51,740-square-foot facility on nearly 3 acres for an undisclosed price. Fujifilm has no other offices in Hawaii.

___

(c)2016 The Honolulu Star-Advertiser

Visit The Honolulu Star-Advertiser at www.staradvertiser.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ( JPY)
Sales 2017 2 466 895 M
EBIT 2017 -
Net income 2017 118 398 M
Finance 2017 330 306 M
Yield 2017 1,88%
P/E ratio 2017 14,21
P/E ratio 2018 12,59
EV / Sales 2017 0,64x
EV / Sales 2018 0,60x
Capitalization 1 920 069 M
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 4 987  JPY
Spread / Average Target 34%
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NameTitle
Shigetaka Komori Chairman & Chief Executive Officer
Kenji Sukeno President, Chief Operating Officer & Director
Shigenobu Inenaga Head-Consolidated Accounting & Finance, IR Contact
Yuzo Toda Director, Chief Technology Officer & VP
Masahiro Asami Director & Manager-Technology Management
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