Survival by leaving film — Fujifilm's diversification
A contrasting case of surviving the same film decline as Kodak through technology transfer and pharmaceutical and healthcare diversification.
Updated Oct 20, 2026
Re-deploying film technology into LCD films and cosmetics
After film demand collapsed with the spread of digital photography, Fujifilm inventoried its technologies and moved film science into other businesses. Alongside FUJITAC films for LCD displays, it launched the Astalift skincare brand in 2007 — antioxidation technology that kept photos from fading and collagen knowledge from film led to anti-aging cosmetics.
Entering pharmaceuticals with Toyama Chemical in 2008
In 2008 FUJIFILM Holdings made Toyama Chemical a consolidated subsidiary through a share acquisition, entering pharmaceuticals. It then widened the healthcare pillar with the 2011 launch of Fujifilm Diosynth around a biopharmaceutical manufacturing network, the 2012 SonoSite acquisition, and the 2015 Cellular Dynamics acquisition.
The same shock, opposite survival paths
This case is the mirror image of the video's story. Where Kodak clung to film, went bankrupt, and then revived through film itself, Fujifilm left film behind and survived through technology transfer and acquisitions. Use it as a yardstick that keeps the video's lesson — returning to the analog essence — from becoming every company's answer, asking separately when core-business focus works and when diversification is needed. But since the two companies' finances and management judgments differed, do not read this contrast as a simple win-or-lose verdict.
A secondary-source summary, not an investment judgment
This is an AI summary based on Fujifilm's official history and secondary analysis citing it — not field reporting or investment or legal advice. Post-acquisition earnings contributions and per-business profit shares are not stated as settled figures, and this is not a verification of Kodak-related figures in the video. The start year is 2007, the Astalift launch year, but diversification spanned years so no end date is set.