Konica Minolta Inc. and Fujifilm Business Innovation Corp have signed a memorandum of understanding to begin a feasibility study for a strategic alliance in the multifunction printer (MFP), office printer and production printer segments.
The rapidly evolving market landscape for MFPs and printers requires proactive measures. Konica Minolta and Fujifilm Business Innovation are actively considering a business alliance to strengthen their business foundation including the development of a robust supply system for their products. The companies are also seeking to expand other business alliances and continue discussions, Konica Minolta said in a release on its website.
Among other things, the companies are discussing a procurement business alliance — Exploring the establishment of a joint venture to coordinate the procurement of raw materials and parts. A tentative timetable for establishment of a joint venture by the second quarter of FY2024. The shareholding ratio could involve majority ownership by Fujifilm Business Innovation Corp. There also are talks of a toner development and production business alliance.
Discussions and agreement on other strategic collaborations related to the subject business will be addressed separately.
Toshimitsu Taiko, president and CEO, Konica Minolta said, “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 and CEO, Fujifilm business innovation corp, said, “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.”
