We might remember the tumultuous times back in 2018 which led to FUJIFILM Holdings and Xerox dissolve their long, close relations—instead of their joint venture Fuji Xerox merging with Xerox, which would have given Fujifilm the overall control. With so many other happenings recently, the further developments moved out of the common focus. Slowly but surely, the process is gaining steam, however. An important milestone was reached on Fuji Xerox’s decision to end the Technology Agreement with Xerox Corporation on the agreement’s expiration date, March 31, 2021. Additionally, Fuji Xerox was renamed FUJIFILM Business Innovation in April 2021 and started to launch new products under a new brand name.

Even as the activities seemed low-key so far, they can have wide-ranging implications as Fuji Xerox is by no means a small business. Established in 1962 as a joint venture, the company started to sell and manufacture copiers and printers in the Asia-Pacific region (including Japan, but excluding India). Over the years, Fuji Xerox did develop and manufacture most products sold by Xerox. In FY 2020, the former Fuji Xerox business segment generated revenues of ¥854 billion, which equates to about US$7.8 billion and had about 37,000 employees (consolidated). This compares to US$7 billion revenue for Xerox Corporation in FY 2020 (after $9.1 billion for FY 2019).

The Technology Agreement between Xerox and Fuji Xerox gave both companies exclusive access to products and exclusive sales rights in the respective regions. After ending the agreement, both companies are free to sell in all geographies and take on different products. Nevertheless, FUJIILM Business Innovation does maintain its product supply agreements with Xerox and views Xerox as a close partner. FUJIFILM Business Innovation is even still selling some Xerox manufactured products as the Nuvera in its territories.