[M&A Reboot] Fujifilm’s Original Business, Photographic Film, Now Less Than 1% of Sales; Transformation into Healthcare and Semiconductor Materials Company – M&A Online

Fujifilm's business portfolio transformation highlights the structural changes in the healthcare industry and the strategic significance of M&A and business succession. With its original photographic film business now accounting for less than 1% of sales, the company's metamorphosis into growth sectors like healthcare and semiconductor materials suggests a universal challenge: how to build new revenue streams while anticipating the decline of existing businesses.

For healthcare executives, this news underscores the importance of "adapting to change" and "laying the groundwork for the future." Facing external environmental shifts such as declining birthrates, aging populations, advancements in medical technology, and revisions to medical fee schedules, it is essential to redefine one's institution's strengths and core competencies and to map out a strategy for sustainable growth. Particularly for medical corporations facing succession issues, M&A strategies that aim to enhance future business value, not just ensure continuity, are required.

Similar to Fujifilm, leveraging one's core competencies while successfully venturing into new fields or restructuring businesses hinges on early strategic planning and utilizing expert resources. In the M&A and business succession of medical institutions, rather than solely considering closure or廃業 (business dissolution), the first step towards success is for directors and presidents to begin considering, with a long-term perspective of 5-10 years, pathways to continued value creation and contributions to regional healthcare through third-party succession.