Konica Minolta, Inc. and FUJIFILM Business Innovation Corp. Have announced their intention to explore a strategic alliance aimed at strengthening their business foundation, particularly in the multifunction printer (MFP), office printer, and production printer segments. The evolving market landscape necessitates proactive measures, leading companies to consider collaboration to optimize their operations and supply systems.
A memorandum of understanding has been signed to initiate a feasibility study for the proposed alliance, with a focus on enhancing competitiveness and expanding global presence. Key areas of discussion include the establishment of a robust supply system for MFPs and printers, as well as exploring other potential business alliances.
The companies are considering the formation of a joint venture to coordinate the procurement of raw materials and parts. Under this arrangement, FUJIFILM Business Innovation Corp. is anticipated to hold the majority ownership. A tentative timetable has been set for the second quarter of the 2024 fiscal year for the establishment of the joint venture.
Discussions will also center on setting up an alliance for toner development and production and additional strategic collaborations related to the subject business will be explored separately.
President and CEO of Konica Minolta, Inc., Toshimitsu Taiko, expressed optimism about the potential of the alliance: “By leveraging our shared understanding of the challenges facing our businesses, we aim to maximize strengths through this alliance. I look forward to collaborating to improve investment efficiency, strengthen supply capabilities, advance environmental initiatives, and enhance business resilience as global manufacturers.”
President and CEO of FUJIFILM Business Innovation Corp., Naoki Hama, echoed this sentiment, highlighting the significance of the ongoing discussions: “As we endeavour to strengthen our competitiveness and expand our global presence, this business alliance holds immense importance. We believe that this partnership will create a new framework to enhance our supply chain and establish a robust business foundation.”
As discussions progress, both companies remain committed to exploring avenues for collaboration that will drive mutual growth and success in an increasingly competitive market landscape.
