" or "Mengapa terlepas sasaran pendapatan itu menyakitkan". We'll use "Mengapa terlepas sasaran pendapatan itu menyakitkan".
Then: "Operating income for the quarter ended June came in at 51.2 billion yen ($323 million), well below the average analyst estimate of 77.1 billion yen. Higher raw material costs and one-off expenses weighed on the result, but the damage went deeper. Underlying profit weakened in the healthcare and business innovation segments, according to Jefferies analysts."
Translation: "Pendapatan operasi bagi suku yang berakhir Jun ialah 51.2 bilion yen ($323 juta), jauh di bawah anggaran purata penganalisis sebanyak 77.1 bilion yen. Kos bahan mentah yang lebih tinggi dan perbelanjaan sekali sahaja membebankan keputusan itu, tetapi kerosakan itu lebih mendalam. Keuntungan asas melemah dalam segmen penjagaan kesihatan dan inovasi perniagaan, menurut penganalisis Jefferies."
We need to keep numbers and currency. "one-off expenses" - "perbelanjaan sekali sahaja". "weighed on" - "membebankan". "damage went deeper" - "kerosakan itu lebih mendalam". "Underlying profit" - "keuntungan asas". "healthcare" - "penjagaan kesihatan". "business innovation" - "inovasi perniagaan".
Next: "Jefferies analysts, including Masahiro Nakanomyo, said the first-quarter results showed further deterioration in profitability of Fujifilm's development and production business. They argued that a sharp recovery would be difficult toward the fiscal year ending March 2028."
Translation: "Penganalisis Jefferies, termasuk Masahiro Nakanomyo, berkata keputusan suku pertama menunjukkan kemerosotan selanjutnya dalam keuntungan perniagaan pembangunan dan pengeluaran Fujifilm. Mereka berhujah bahawa pemulihan yang tajam akan sukar menjelang tahun fiskal berakhir Mac 2028."
We keep names. "development and production business" - "perniagaan pembangunan dan pengeluaran". "sharp recovery" - "pemulihan yang tajam". "fiscal year ending March 2028" - "tahun fiskal berakhir Mac 2028".
Next: "
The spinoff plan taking shape
" - "
Rancangan pemisahan semakin terbentuk
" or "Rancangan pemisahan mula terbentuk". We'll use "Rancangan pemisahan semakin terbentuk".
Then: "Fujifilm confirmed it is studying a partial spinoff of Fujifilm Business Innovation, formerly known as Fuji Xerox. Under the plan, Fujifilm would keep a stake just under 20% and distribute the rest to shareholders as an in-kind dividend. The unit would then list on the Tokyo Stock Exchange."
Translation: "Fujifilm mengesahkan ia sedang mengkaji pemisahan separa Fujifilm Business Innovation, yang dahulunya dikenali sebagai Fuji Xerox. Di bawah rancangan itu, Fujifilm akan mengekalkan pegangan hanya di bawah 20% dan mengagihkan selebihnya kepada pemegang saham sebagai dividen dalam bentuk aset. Unit itu kemudiannya akan disenaraikan di Bursa Saham Tokyo."
"in-kind dividend" - "dividen dalam bentuk aset" or "dividen dalam bentuk saham"? Actually, it's distributing shares of the unit, so it's a dividend in kind (shares). We can say "dividen dalam bentuk saham" but the text says "in-kind dividend" meaning non-cash. We'll use "dividen dalam bentuk aset" or "dividen dalam bentuk saham" but since it's distributing shares, it's "dividen saham" but to be precise: "dividen dalam bentuk saham" is fine. However, the original says "in-kind dividend" which is a dividend paid in assets other than cash. So we can say "dividen dalam bentuk aset" but that might be vague. Better: "dividen dalam bentuk saham" because they are distributing shares. But the text says "distribute the rest to shareholders as an in-kind dividend" - so it's a dividend of shares. So we can say "dividen dalam bentuk saham" or "dividen saham". We'll use "dividen dalam bentuk saham" for clarity.
Also "list on the Tokyo Stock Exchange" - "disenaraikan di Bursa Saham Tokyo".
Next: "The company said it is aiming to execute the spinoff within two to three years, pending shareholder approval and Japan's tax-qualified spinoff rules. If the spinoff proceeds, Fujifilm plans to keep the Fujifilm brand name on the unit."
Translation: "Syarikat itu berkata ia menyasarkan untuk melaksanakan pemisahan itu dalam tempoh dua hingga tiga tahun, tertakluk kepada kelulusan pemegang saham dan peraturan pemisahan layak cukai Jepun. Jika pemisahan itu diteruskan, Fujifilm bercadang untuk mengekalkan nama jenama Fujifilm pada unit tersebut."
"tax-qualified spinoff rules" - "peraturan pemisahan layak cukai" or "peraturan pemisahan yang layak cukai". We'll use "peraturan pemisahan layak cukai".
Next: "
Profitability over growth
" - "
Keuntungan berbanding pertumbuhan
" or "Keuntungan mengatasi pertumbuhan". We'll use "Keuntungan berbanding pertumbuhan".
Then: "The spinoff sits inside Fujifilm's VISION2030 strategy, which prioritizes profitability and capital efficiency over raw sales growth. The business innovation unit, while a big revenue driver, has been a drag on margins in recent quarters."
Translation: "Pemisahan itu terletak dalam strategi VISION2030
