Fujifilm Business Innovation Corporation
Native name
富士フイルムビジネスイノベーション株式会社
FormerlyFuji Xerox Co., Ltd.
TypeSubsdiary
IndustryDocument processing
FoundedFebruary 20, 1962 (1962-02-20)
HeadquartersMidtown West, Tokyo Midtown, Akasaka, Minato,
Tokyo
,
Japan
Key people
  • Tadahito Yamamoto (Chairman)
  • Hiroshi Kurihara (President)
Products
Revenue$11.1bn
OwnersFujifilm
Number of employees
40,646 (as of Mar 2009 - Consolidated)
Websitewww.fujifilm.com/fbglobal/eng

Fujifilm Business Innovation Corporation (Japanese: 富士フイルムビジネスイノベーション株式会社), formerly known as Fuji Xerox Co., Ltd., was a Japanese company specializing in the development, production, and sale of xerographic and document-related products and services across the Asia-Pacific region. As a wholly-owned subsidiary of Fujifilm Holdings, its headquarters were situated in Midtown West, Akasaka, Minato, Tokyo.

Originally established as a joint venture between Fujifilm and the American document management company Xerox, Fuji Xerox Co., Ltd. (Japanese: 富士ゼロックス株式会社, romanized: Fuji Zerokkusu Kabushiki-gaisha) played a prominent role in the industry for 59 years. However, in 2019, Fujifilm assumed full ownership by acquiring the remaining shares, marking the conclusion of the long-standing partnership with Xerox. The formal conclusion of this collaboration occurred on March 31, 2021.

History

Fuji Xerox was established in 1962 as a 50:50 partnership with Rank Xerox.[1] Rank Xerox was absorbed into Xerox Corporation in 1997.[2]

Initially serving as a distributor exclusively for Rank Xerox products, Fuji Xerox transitioned into independent research and development, introducing its proprietary xerographic machines and devices. Notably, their pioneering venture began with the creation of the FX2200 photocopier in 1973, acknowledged as the world's smallest copier at the time.[3] Beyond distribution, Fuji Xerox played a pivotal role in advancing color printing technologies, contributing to the innovation and manufacturing of various devices marketed by Xerox Corporation. Among their milestones is the introduction of the "Xero Printer 100" in 1987, recognized as the world's first multifunction printer/copier.

Fuji Xerox expanded into Australia, New Zealand, Singapore and Malaysia in 1982 by purchasing distribution rights from Xerox Corporation, it established a subsidiary company Fuji Xerox Asia Pacific Pte headquartered in Singapore.

In 2000, Xerox Corporation transferred its China/Hong Kong operations to Fuji Xerox, and by 2001, Fuji Photo Film Co. had elevated its stake in the venture to 75%.[4]

The company's previous logo as Fuji Xerox

As of March 2009, the company employed 40,646 people (Consolidated).[5]

On January 31, 2018, Xerox announced an agreement with Fujifilm for the acquisition of a 50.1% controlling stake in the company, amounting to US$6.1 billion. This move aimed to merge the two entities into Fuji Xerox, establishing a company with an aggregate market value of US$18 billion[6][7][8] However, the deal was called off in May 2018 following resistance by Xerox's board.[9]

On November 5, 2019, Fujifilm had announced that they would acquire the remaining 25% stake of Fuji Xerox from Xerox for a total of $2.3 Billion.[10]

On January 6, 2020, Fujifilm announced that it would not renew its technology agreement with Xerox when it expires at the end of March 2021, and that Fuji Xerox would be renamed Fujifilm Business Innovation Corporation in April 2021. Fujifilm stated that unwinding the venture would allow them to "utilise our own technologies and synergise with technologies owned by other Fujifilm Group companies to produce/market products and solutions under our own new brand worldwide". The company will maintain its product supply agreements with Xerox.[11]

Headquarters

The Yokohama Minatomirai Office in Nishi-ku, Yokohama

Fujifilm Business Innovation Corporation has its headquarters situated at Tokyo Midtown West in Minato, Tokyo.[12][13] Additionally, the company maintains a key office at Toyosu Bayside Cross Tower in Kōtō, Tokyo, along with branch offices strategically positioned in Yokohama, Ebina, and Minamiashigara, Kanagawa Prefecture.

See also

References

  1. ↑ Raju, M.S. (2009). Marketing Management, 2E. New Delhi: Tata McGraw-Hill Education. p. 94. ISBN 978-0-07-015327-1.
  2. ↑ Reiche, B. Sebastian; Stahl, Günter; Mendenhall, Mark E.; Oddou, Gary R. (2017). Readings and Cases in International Human Resource Management. Oxon: Taylor & Francis. p. 310. ISBN 978-1-138-95049-8.
  3. ↑ Gomes-Casseres, Benjamin (1996). The Alliance Revolution: The New Shape of Business Rivalry. Cambridge, MA: Harvard University Press. p. 18. ISBN 0-674-01647-5.
  4. ↑ Corporate History Retrieved on February 4, 2014
  5. ↑ Collinson, Simon; Narula, Rajneesh; Qamar, Amir; Rugman, Alan M. (2020). International Business. Pearson UK. ISBN 978-1-292-27417-1.
  6. ↑ "Fujifilm acquires Xerox for $6.1 billion". Ars Technica. Retrieved February 1, 2018.
  7. ↑ Shirkey, Alec (January 31, 2018). "A Giant Is Born: Fujifilm Deal Allows Xerox To Make Inroads Into Asia-Pacific Print Market, Bolster Next-Gen R&D Efforts". CRN. Retrieved February 1, 2018.
  8. ↑ Shirkey, Alec (January 31, 2018). "Fujifilm Buys Controlling Stake In Xerox, Creating An $18 Billion Printer Industry Behemoth". CRN. Retrieved February 1, 2018.
  9. ↑ "Xerox shares down after board cans Fujifilm deal". CNBC. May 14, 2018. Retrieved May 15, 2018.
  10. ↑ "Xerox Reaps $2.3 Billion In Sale Of Fuji Xerox Stake". CRN. Retrieved February 19, 2020.
  11. ↑ Chanthadavong, Aimee. "Fuji Xerox rebrands as Fujifilm Business Innovation". ZDNet. Retrieved June 21, 2020.
  12. ↑ "FUJI XEROX Company Profile Archived 2012-01-26 at the Wayback Machine." Fuji Xerox. Retrieved on July 12, 2010.
  13. ↑ "FUJI XEROX Headquarters Archived 2012-03-09 at the Wayback Machine." (Direct image link Archived 2016-03-03 at the Wayback Machine) Fuji Xerox. Retrieved on July 12, 2010.
Wikimedia Commons has media related to Fuji Xerox.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.