Innovating Out of Crisis: How Fujifilm Survived (and Thrived) as Its Core Business Was Vanishing
In 2000, photographic film products made up 60% of Fujifilm's sales and up to 70% of its profit. Within ten years, digital cameras had destroyed that business. In 2012, Kodak filed for bankruptcy. Yet Fujifilm has boasted record profits and continues strong. What happened? What did Fujifilm do? What do businesses today need from their leaders? What kinds of employees can help businesses thrive in the future? Here, the CEO who brought Fujifilm back from the brink explains how he engineered transformative organizational innovation and product diversification, with observations on his management philosophy.
Shigetaka Komori is Chairman and CEO of Fujifilm Holdings Corporation. Mr. Komori was appointed CEO in 2003 and chairman in 2012.
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About the Author
Shigetaka Komori is Chairman & CEO of FUJIFILM Holdings Corporation. After graduating from The University of Tokyo with a degree in Economics, Komori joined Fuji Photo Film Co., Ltd. in 1963. He has extensive experience mainly in graphic systems and recording media products businesses. After serving as Managing Director of Fuji Photo Film (Europe) GmbH from 1996 until 2000, he became President, Representative Director of Fuji Photo Film Co., Ltd in 2000. In 2003 he was appointed President and CEO. Faced with the development of digitalization, Shigetaka Komori succeeded in the management reform and a dynamic transformation of business. He accomplished a V-shaped recovery in performance by focusing on the growing business fields such as LCD display materials and medical equipment.