Konica Minolta, Inc. and FUJIFILM Business Innovation Corp. have signed a memorandum of understanding (MoU) to begin a feasibility study for a strategic alliance in the multifunction printer (MFP), office printer, and production printer segments.
As the rapidly evolving market landscape for MFPs and printers requires proactive measures, the two Japanese technology giants are actively considering a business partnership to strengthen their business foundation, including the development of a robust supply system for their products. With FUJIFILM as the majority stake holder, the tentative timetable for the establishment of the joint venture is the second-quarter of FY24.
The companies are also seeking to expand other business alliances and continue discussions. The initial focus of the joint venture will be to coordinate the procurement of raw materials and parts, toner development and production business alliance, and other strategic collaborations related to the subject business that will be addressed separately.
Toshimitsu Taiko, Director, President & CEO, Konica Minolta, Inc., says, “Sharing a common understating of the challenges facing the business, the two leading companies will be able to mutually maximize strengths through this alliance. I am looking forward to working together to improve investment efficiency and cost-competitiveness, strengthen capabilities for stable supply, environmental initiatives, and business continuity plans (BCP), and pursue the potential for enhancing business resilience as global manufacturers.”
Naoki Hama, President & CEO, FUJIFILM Business Innovation Corp., adds, “The ongoing discussions for this business alliance are of immense importance as we strive to strengthen our competitiveness and expand our global presence to make a significant leap forward. We are confident that this partnership will create a new framework to enhance our supply chain and build a robust business foundation.”
