Fujifilm Business Innovation

Fuji Xerox Co., Ltd. (富士ゼロックス株式会社, Fuji Zerokkusu Kabushiki-gaisha) was a joint venture partnership between the Japanese photographic firm Fujifilm Holdings and the American document management company Xerox to develop, produce and sell xerographic and document-related products and services in the Asia-Pacific region. Its headquarters was in Midtown West in Akasaka, Minato, Tokyo. Fuji Xerox was the world's longest running joint venture between a Japanese and an American company.

Fuji Xerox Co., Ltd.
Native name
富士ゼロックス株式会社
Fuji Zerokkusu Kabushiki-gaisha
TypeJoint venture
IndustryDocument processing
Founded1962 (1962)
DefunctApril 1, 2021 (2021-04-01)
FateRenamed to FUJIFILM Business Innovation Corporation
HeadquartersMidtown West, Tokyo Midtown
Akasaka, Minato, Tokyo, Japan
Key people
  • Tadahito Yamamoto
    (Chairman)
  • Hiroshi Kurihara
    (President)
Products
Revenue$11.1bn
Owners
Number of employees
40,646 (as of Mar 2009 - Consolidated)
WebsiteOfficial website

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]

Originally only a distributor of Rank Xerox products, Fuji Xerox later began to research and develop its own xerographic machines and other devices, beginning with the FX2200 photocopier in 1973. This machine was considered the world's smallest copier.[3] The company was also responsible for the innovation and manufacture of many of the colour printing devices sold by Xerox Corporation. Its innovations include the world's first multifunction printer/copier, the "Xero Printer 100", launched in 1987.

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. Fuji Xerox Australia Pty Ltd was Australia's No.1 Document Printing and Copying company in the country. It was also the highest performing Fuji Xerox subsidiary in Asia. Its first dealership was NQBE in Mackay, North Queensland.

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

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

On January 31, 2018, Xerox announced that Fujifilm had agreed to acquire a 50.1% controlling stake in the company for US$6.1 billion, which would be combined into Fuji Xerox, creating a company with a total 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
Midtown West, the headquarters

The headquarters of Fuji Xerox was located in Midtown West in Tokyo Midtown, Akasaka, Minato, Tokyo.[12][13] The headquarters of Fuji Xerox moved to its final location on January 15, 2007. Previously the company was headquartered in the Akasaka Twin Tower (赤坂ツインタワー, Akasaka Tsuin Tawā) in Tameike Sanou.[14]

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 2018-02-01.
  7. Shirkey, Alec (2018-01-31). "A Giant Is Born: Fujifilm Deal Allows Xerox To Make Inroads Into Asia-Pacific Print Market, Bolster Next-Gen R&D Efforts". CRN. Retrieved 2018-02-01.
  8. Shirkey, Alec (2018-01-31). "Fujifilm Buys Controlling Stake In Xerox, Creating An $18 Billion Printer Industry Behemoth". CRN. Retrieved 2018-02-01.
  9. "Xerox shares down after board cans Fujifilm deal". CNBC. 2018-05-14. Retrieved 2018-05-15.
  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.
  14. "FUJI XEROX Headquarters Map Archived 2012-01-26 at the Wayback Machine." (Direct map image link Archived 2012-03-09 at the Wayback Machine) Fuji Xerox. Retrieved on July 12, 2010. Japanese version Archived 2012-01-11 at the Wayback Machine
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