Fuji Photo lifts LCD film spending
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TOKYO, Japan -- Fuji Photo Film Co says it plans to spend 110 billion yen ($1 billion) in the four years from next April to boost production of film for LCD televisions and other electronic devices.
Some of that money may go on new production plants in South Korea and Taiwan, according to media reports.
Sales from Fuji Photo's fast-growing polarizing film business are expected to triple from an estimated 67 billion yen in the current financial year to March 31, to about 200 billion yen by the end of the four-year investment program, a Fuji Photo spokesman said Tuesday.
Fuji Photo, which is the largest photo film maker in Japan, now spends about 10 billion yen a year in capital outlays for the film division for electronic devices.
Starting in fiscal 2004, that figure will rise to more than 20 billion yen a year, according to a report in the Nihon Keizai business daily.
Shares in Fuji Photo Film are 1.57 percent higher at 3240 yen Tuesday morning. The broader market, measured by the Nikkei 225, is about 0.8 percent ahead.
