FUJIFILM Business Innovation and Konica Minolta have announced a joint venture to streamline their procurement processes, following a feasibility study in the multifunction printer segment. The new, yet-to-be-named company will focus on developing procurement strategies, negotiation with suppliers and ensuring quality and environmental compliance of externally procured goods. This strategic alliance leverages the extensive supplier networks of both companies to establish a robust supply chain and strengthen their business foundations.
- FUJIFILM Business Innovation Corp. and Konica Minolta, Inc. signed a Shareholders Agreement to establish a joint venture for coordinating the procurement of raw materials and parts in the printer segments.
- The joint venture, with a capital of 50 million yen, is expected to be established in Shin-Yokohama, with a representative from FUJIFILM Business Innovation leading with 75% shareholding.
- The new company will focus on developing procurement strategies, negotiating with suppliers, and ensuring quality, cost, delivery and environmental compliance of externally purchased goods to strengthen their business foundations.
Joint Venture Agreement Inked by FUJIFILM Business Innovation and Konica Minolta
FUJIFILM Business Innovation Corp. and Konica Minolta, Inc., two giants in the printing industry, have recently signed a Shareholders Agreement. The goal of this agreement is to establish a joint venture focused on coordinating the procurement of raw materials and parts. This move follows a feasibility study for a strategic alliance in the multifunction printer (MFP), office printer and production printer segments, which took off in April 2024.
Strengthening Business Foundations Through Joint Venture
By way of this newly formed joint venture, the two companies aim to tap into their vast supplier networks. The objective is to solidify their business foundations by establishing a robust supply system for their products and streamlining their business processes.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.
The Nitty-Gritty of the New Venture
The joint venture is expected to be based in Shin-Yokohama, with Masaharu Furukawa of FUJIFILM Business Innovation Corp. serving as the representative. The venture is slated for establishment on 30 September 2024, with an initial capital of 50 million yen. The workforce will comprise of 223 employees, including temporary staff, with FUJIFILM Business Innovation and Konica Minolta contributing 162 and 56 employees respectively. As for ownership, FUJIFILM Business Innovation will hold a 75% share, with Konica Minolta owning the remaining 25%.
The venture’s business description includes development of procurement strategies, procurement lead function, and procurement services to ensure quality, cost, delivery, and environmental compliance of externally purchased goods.
Final Thoughts
This new joint venture between FUJIFILM Business Innovation Corp. and Konica Minolta, Inc. is a strategic move; it demonstrates a proactive approach to strengthen their supply chains and streamline their business processes. This partnership is highly likely to lead to increased efficiency, improved service delivery and enhanced competitiveness in the market. However, the levels of success will heavily depend on the effective collaboration between the two entities, their ability to synergise their strengths and their commitment to their shared vision. This is a promising development, and it will be interesting to see how this partnership unfolds in the future.
FAQ
Q: What is the purpose of the joint venture between FUJIFILM Business Innovation and Konica Minolta?
A: The joint venture aims to coordinate the procurement of raw materials and parts in the multifunction printer (MFP), office printer and production printer segments to strengthen their business foundations.
Q: What is the shareholding ratio between FUJIFILM Business Innovation and Konica Minolta in the joint venture?
A: FUJIFILM Business Innovation holds 75% of the shareholding, while Konica Minolta holds 25%.
Q: When is the expected date of establishment for the new joint venture company?
A: The expected date of establishment for the new joint venture company is 30 September 2024.
Q: What will be the role of Masaharu Furukawa in the joint venture company?
A: Masaharu Furukawa, Corporate Vice President and Director at FUJIFILM Business Innovation Corp., will be the representative of the joint venture.
Q: How many employees are expected to work in the new joint venture company?
A: The joint venture is expected to have a total of 223 employees, including temporary employees, with 162 employees seconded from FUJIFILM Business Innovation and 56 from Konica Minolta.
Q: What are some of the business descriptions of the new joint venture?
A: The joint venture will focus on the development of procurement strategies, deployment to the procurement function divisions at each production site, procurement lead functions including supplier negotiation and management, and ensuring quality, cost, delivery and environmental compliance of externally purchased goods.
