Japanese companies used to have a well-deserved reputation for being stodgy; while concepts like just-in-time inventory were adopted relatively quickly, many companies have allowed themselves to become lumbering conglomerates that are slow to jettison operations with poor future prospects for growth or economic returns.
That's not so true with Fujifilm (OTCPK:FUJIY), as this company has launched two significant transformations in the past two decades - one designed to give the company life after the decline of photographic film and a more recent one intended to offset weakening prospects for office equipment. Fujifilm is arguably underrated for its healthcare business and it is this part of Fujifilm that has the best prospects for taking the business forward. Although success in drug development is by no means assured, even modest expectations would seem to support a fair value 10% higher than today's price.
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Fujifilm's Long Transformation Process Heading In The Right Direction