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Komori continued, “Full ownership of Fuji Xerox will facilitate faster decision making in a rapidly changing business environment. In addition, it has achieved a unique position in the document industry by leveraging excellent product development capabilities and manufacturing technology.As part of the transaction, Fujifilm has agreed to withdraw litigation it filed against Xerox on June 18th, 2018 claiming damages caused by the unilateral cancellation of the definitive agreement between the two companies.“Fuji Xerox has now become a lean and strong company after a series of reforms we started in 2018, and I am confident that with this initiative it will be even stronger.” Our innovations, products and business solutions covered in the news. Corporate Video. Fuji Xerox Malaysia Facebook. New ApeosPort and DocuPrint Series . The transaction will allow Fujifilm to use the cash generated to invest in growth areas including healthcare and highly functional materials.Fuji Xerox will operate as a wholly owned subsidiary of Fujifilm and will continue to supply to Xerox after completion of the transaction.The transaction is expected to be completed within November 2019.“This transaction is an ideal next step for Fuji Xerox and Fujifilm that we believe serves our stakeholders well and reflects our commitment to create innovative products that contribute to society,” said Shigetaka Komori, Chairman and Chief Executive Officer of Fujifilm.In light of the fact that uncertainty about the future of the global economy is increasing and competition in the market is intensifying, Fujifilm has decided it is best to have Fuji Xerox as a wholly owned subsidiary to flexibly implement necessary measures in a timely manner in order to achieve further growth.The results forecasts and other forward-looking statements contained herein are based on certain assumptions judged to be reasonable and based on the information available to Fujifilm. Fuji Xerox Announces Corporate Name Change. There will also be new growth opportunities by improving the profitability of the document business and accelerating the exchange of talents and technologies within the Fujifilm Group. The deal to buy Xerox’s stake also includes 51% ownership in Xerox International Partners, an original equipment supplier in the U.S. and Europe, the companies said.Photographer: Akio Kon/BloombergForged in 1962, the Fuji Xerox joint venture was one of the oldest tie-ups between an American and Japanese firm. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.“Full ownership of Fuji Xerox will facilitate faster decision making in a rapidly changing business environment,” Shigetaka Komori, Fujifilm’s chief executive officer, said in the statement. Recognizing Creative and Innovative Works in Digital Printing . Adds Dry Ink Lineup for the Iridesse™ Production Press . The company also announces the following changes of its corporate officers and advisers.