Tokyo, Japan—Fuji Xerox Co., Ltd. has come to a decision to end its technology agreement with Xerox Corporation on the agreement’s expiration date, March 31, 2021. Moreover, Fuji Xerox notified Xerox Corporation of its decision. The agreement provides for technology/brand licenses and sales territories applicable to each company.
Both companies benefited from the shared use of technologies each company independently developed. Today, however, thanks to improvements in the speed and level of Fuji Xerox’s product development, it develops, manufactures and delivers its original products to Xerox Corporation based on its own unique technologies. As such, it will continue to provide Xerox products based on its technologies after the agreement with Xerox ends. Further, under the technology agreement, which provided the sales territories for each company, Fuji Xerox was engaged in sales activities in the Asia-Pacific region with the “Fuji Xerox” brand; Xerox Corporation engaged in sales with the “Xerox” brand in the other regions. The decision to end the technology agreement will result in the removal of such sales territory restrictions from April 2021. As a result, it will enable Fuji Xerox to expand its business worldwide under a new original brand.
Fuji Xerox Co., Ltd. Rebranding
Moreover, Fuji Xerox will change its company name to Fujifilm Business Innovation Corp. It will due so pursuant to the expiration of the agreement after April 1, 2021. In addition, it will work to strengthen its document and adjacent businesses, as well as expand into new business areas.
The company aims to foster innovation with the other companies in the Fujifilm Group. It will do so by accelerating the market introduction of solutions and services that build on technologies related to the cloud, artificial intelligence and the Internet of Things.
“Fuji Xerox is now strongly positioned to conduct businesses dynamically; and with more liberty in a truly global manner,” said Kouichi Tamai, president and representative director of Fuji Xerox. “Today’s announcement of ending the technology agreement with Xerox Corporation opens doors for Fuji Xerox to, after April 2021, utilize our own technologies and synergize with technologies owned by other Fujifilm Group companies to produce/market products and solutions under our own new brand worldwide.
“Additionally, becoming a wholly owned company of Fujifilm Holdings Corporation as announced in November enables us to make business decisions more efficiently regarding investing in new businesses; building alliances; and pursuing acquisitions with a worldwide perspective. These new exciting steps are for all our customers. Both our current customers in the Asia-Pacific region as well as our future customers in the US/EU region. By continuously developing innovative products and solutions that improve efficiency, we will help them resolve their business challenges.”
The product supply agreement with Xerox Corporation will continue in effect despite the expiration of the technology agreement. Furthermore, the two companies will continue to act as each other’s product supplier.