Fujifilm warns tariffs could cost the company US$140 million. Is a price hike looming?

Fujifilm estimates that the new US tariffs could cost the company around $140 million (around £105 million / AU$218 million) a year.

The numbers stem from the company’s reports to investors for the fiscal year that ended on March 31. The financial report, which was shared on May 08, lists product and pricing structure changes among a list of strategies that could help minimize the impact of the tariffs.

The estimated $140 million impact from the US tariffs is the company’s baseline estimation.

The report notes that the numbers could fluctuate by up to $100 million in any direction by “taking into account such measures as reevaluating our supply chain, further reducing costs, and restructuring our product and pricing strategie [sic] to minimize the impacts.”

While Fujifilm hasn’t announced a price increase as a result of the tariffs, the report makes it clear that the company is considering updating its pricing strategy to help offset the cost of tariffs if the current trade conditions continue. That’s just one potential change listed along with reducing costs and reevaluating the supply chain.

While many Fujifilm cameras are made in Japan, which is currently facing a 10% tariff, some models (including the popular X100VI) are manufactured in China, which is currently facing a 145% tariff rate.

The $140 million estimate also assumes a 10% tariff. The report doesn’t mention China’s current 145% tariff rate on goods imported to the US, or the 24% tariff rate for Japan that could go into effect after Trump’s 90-day pause ends in July.

Fujifilm notes that the impact of the tariffs hasn’t yet been factored into the company’s financial forecast.

“Potential impacts from future tariff negotiations between the US and other countries, as well as reduced product demand resulting from reciprocal tariff applications, are not included in this estimate due to the difficulty of making a reasonable assessment at this time,” the report reads.

“We will continue to pay close attention to these dynamics and take swift and necessary measures to minimize any impact on our performance.”

While the future impact of the new US tariff policies isn’t fully clear, the changing trade conditions have already impacted stock and availability in the US. Fujifilm has halted pre-orders of some cameras, including the X100VI, X-M5 and GFX100RF. Fujifilm’s US web store currently only lists three models in stock: the X-S20, X-T5 and X-H2S.

The earnings report also indicated a prosperous imaging segment for the company. Fujifilm’s imaging division reported an increase of 15.4% in consolidated revenue compared to the previous year. The company attributed that growth to both increased revenue among Instax products as well as “solid sales” of digital cameras.

The company says that it plans for continued growth with enhancements across Instax, X-Series and GFX series products.

“In the professional imaging business, we aim to grow our fan base by enhancing the multi-brand digital camera strategy, centered around the X Series and the GFX Series of digital cameras featuring color reproduction optimized for digital imaging, to meet emerging demand for more than just smartphone photography,” the report says.

Part of that strategy over the next year will also include Fujifilm’s entry into the cinema camera market. However, the report didn’t offer any insight beyond what the company has already teased about the upcoming GFX Eterna, which is still expected to arrive before the end of 2025.

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