Fujifilm UK, headquartered in Bedford, is a subsidiary of FUJIFILM Holdings Corporation, Tokyo, Japan. Fujifilm was founded in 1934 as a producer of photographic film under the name Fuji Photo Film Co Ltd. By leveraging the technologies originally developed for the photography industry and continuously and proactively pursuing advanced R&D, Fujifilm strives to push the boundaries of innovation to help make the world a better, healthier, and more interesting place. In-house research promotes growth in existing fields, while exploring new possibilities in areas including biotechnology, pharmaceuticals, life sciences, energy and highly functional materials. For the year ended March 31, 2018, the company had global revenues of $23.0 billion, at an exchange rate of 106 yen to the dollar.