FUJIFILM Business Innovation Corp. and Konica Minolta Inc. have announced that they signed a Shareholders Agreement (Joint Venture Agreement) on July 8 to establish a joint venture to coordinate the procurement of raw materials and parts. This agreement is the result of a feasibility study for a strategic alliance in the multifunction printer (MFP), office printer and production printer segments that began in April 2024.

Through the newly established joint venture, FUJIFILM Business Innovation and Konica Minolta will leverage their extensive supplier networks to strengthen their business foundations by establishing a robust supply system for their products and streamlining their business processes.

Outline of the new joint venture

Company Name: To be determined

Location: Shin-Yokohama, Kohoku-ku, Yokohama City, Kanagawa Prefecture, Japan (expected)

Capital: 50 million yen

Date of Establishment: Sept. 30, 2024 (expected)

Representative : Masaharu Furukawa, corporate vice president and director, FUJIFILM Business Innovation Corp.

Number of Employees: 223 (expected; includes temporary employees)

Number of employees seconded from each company: FUJIFILM Business Innovation - 162 employees, Konica Minolta - 56 employees

Shareholding Ratio: FUJIFILM Business Innovation - 75%, Konica Minolta - 25%

Business Description: Development of procurement strategies and deployment to the procurement function divisions at each production site; procurement lead function, including negotiation with suppliers and procurement management; and procurement services to ensure quality, cost, delivery and environmental compliance of externally purchased goods