Fujifilm Outlines Plans for Fuji Xerox
On February 6th, Fujifilm Holding of Tokyo, Japan, outlined plans for Fuji Xerox. As readers may know, Fuji Xerox is a 57th-year-old joint partnership between Xerox and Fujifilm. However, after a failed attempt to buy Xerox and merge it with Fuji Xerox, in November 2019, Fujifilm purchased Xerox’s 25-percent stake in Fuji Xerox, giving Fujifilm 100-percent ownership of Fuji Xerox. Fujifilm also announced that it will rename Fuji Xerox “Fujifilm Business Innovation,” effective April 2021.
In its presentation, Fujifilm noted that with its purchase of Xerox’s stake, it and Xerox ended their Joint Enterprise Contract. This means both companies will now be able to sell in each other’s sales territories – Fuji in Europe and North America, and Xerox in Asia-Pacific. However, Fuji will continue to supply products to Xerox for the “mid and long term.”
Fuji also reported that the new Fujifilm Business Innovation company – whose slogan will be “Value through innovation” – will supply other OEM brands globally with printers, copier/MFPs, and components.
For its fiscal year 2025, Fuji is targeting revenue growth of over ¥300 billion for Fujifilm Business; operating income of ¥50 billion; and an operating margin of 10 percent.
With Fujifilm Business, Fuji will seek to expand the company’s growth in Asia-Pacific; offer digital platforms to optimize customers’ business processes; and enhance business-specific solutions for vertical markets such as local government, healthcare, finance, education, etc.
- February 2020: Profits Up for Fujifilm, Issues Generally Optimistic Forecast
- January 2020: Fuji Xerox to Terminate Technology Agreement with Xerox
- November 2019: Mixed Financial Results for Fujifilm, But Raises Forecast
- November 2019: In Big Shakeup, Xerox to Exit Fuji Xerox Partnership
- November 2019: Fuji Xerox Will Continue to Supply Xerox, But Also Other OEMs
- November 2019: Xerox Completes Sale of Stake in Fuji Xerox
- May 2019: Fujifilm Posts Upbeat Financial Results; Will Pursue Xerox Take-Over in Court