Combined Xerox and Fuji Xerox Will Create One of World’s Largest Copier Companies, Says Fujifilm CEO
In an interview with the Nikkei Asian Review last week, Fujifilm CEO and Chairman Shigetaka Komori said the Xerox acquisition will be “a game changer” for Fujifilm, enabling the Japanese company to develop products much faster at lower cost and distribute them around the world.
“The combination will create synergies and produce cost savings worth $1.7 billion a year,” Komori emphasized in the interview at Fujifilm’s Tokyo headquarters.
Under the current arrangement, Fuji Xerox’s operations are restricted to the Asia-Pacific region, and those of Xerox to Europe and North America. However, by allowing the two companies to operate as one company and unify their product development and marketing operations, “it would become much easier to increase market share,” Komori said.
Komori predicts that only the strongest companies with a large market share will be able to survive in the maturing printer/copier market. He says that once the deal is approved by regulators and Xerox shareholders, the new company will be a copier company on the same scale as industry leader HP Inc., while eclipsing Fujifilm’s rivals in Asia-Pacific, Canon and Ricoh.
Fujifilm won’t be paying cash for its controlling 50.1 percent interest in the new combined company – instead it will make make the purchase by using the unrealized profit on its 75-percent interest in Fuji Xerox.
- January 2018: Xerox and Fujifilm Announce Agreement for Xerox to Merge with Fuji Xerox
- January 2018: Xerox Reports Strong Fourth-Quarter 2017 Results, 65 Dealers Signed
- January 2018: Icahn, Deason Call for Xerox CEO, Directors Replacement, Renegotiation of Fuji Xerox Partnership
- January 2018: Deason, Shareholders, Demand Xerox Disclose Potential ‘Value-Destroying’ Fujifilm Deal
- January 2018: Under Pressure from Icahn and Seeking New Growth, Xerox May be Negotiating Deal with Fujifilm
- December 2017: Billionaire Investor Icahn Blasts Xerox Board, Says Xerox ‘Desperately Needs New Leadership’
- December 2017: Carl Icahn to Nominate Four Directors to Xerox Board
- June 2016: Carl Icahn Adds Christodoro to Xerox Board of Directors
- October 2016: Billionaire Investor Deason Files Lawsuit to Block Xerox Split into Two Companies
- October 2016: Xerox Rolls Out New Conduent Brand Logo as it Prepares for Split into Two Companies
- October 2016: Xerox’s BPO Group to Trade as Conduent on NY Stock Exchange Following Split
- November 2015: Billionaire Investor Icahn is Second-Largest Xerox Shareholder; Considering ‘Strategic Alternatives’ for Xerox