Fujifilm Business Innovation and Konica Minolta have announced further details and an establishment date of January 31 for their joint venture.
The companies have completed all review and approval procedures under overseas competition laws.
In addition, the companies have named the joint venture company Global Procurement Partners Corp, which will be located in Yokohama, Japan with capital of ¥50m ($575,000).
Fujifilm Business Innovation will have a 75 per cent share ratio and Konica Minolta 25 per cent.
President Masaharu Furukawa, corporate vice president and director at Fujifilm Business Innovation will oversee 192 employees – 137 from Fujifilm Business Innovation and 55 from Konica Minolta.
The venture’s business description has three layers:
- 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.
- Procurement services to ensure quality, cost, delivery, and environmental compliance of externally purchased goods.
Fujifilm Business Innovation and Konica Minolta first announced plans to explore a “potential strategic alliance” in multifunction printer and printer areas in April 2024.
“Sharing a common understating of the challenges facing the business, the two leading companies will be able to mutually maximise strengths through this alliance,” Toshimitsu Taiko, president and CEO, Konica Minolta, Inc, said at the time of the announcement.
“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.”
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.
Sign up to the Sprinter newsletter
