FUJIFILM Business Innovation Corp. signed an agreement to transfer the equity investments in the consolidated subsidiary, FUJIFILM Business Equipment Shanghai Corp.
FUJIFILM Business Innovation Corp. announced that it has agreed to transfer 100% of its equity investments in FUJIFILM Business Equipment Shanghai Corp. held by FUJIFILM Business Innovation (China) Corp., a wholly owned subsidiary in China, to EVA Precision Industrial (Weihai) Limited, a group company of EVA Group Ltd.
Based on this agreement, FUJIFILM Business Innovation (China) Corp. signed an Equity Transfer Agreement with EVA Precision Industrial (Weihai) Limited on 19 July 2022.
FUJIFILM Business Equipment Shanghai Corp. mainly manufactures mid- to low-speed multifunction devices and printers.
In an effort to optimise the manufacturing structure for multifunction devices and printers, FUJIFILM Business Innovation concluded that the combination of FUJIFILM Business Equipment Shanghai’s ability to manufacture high-quality products, with EVA Group’s advanced productivity and extensive track record as a parts supplier, will generate a significant synergy in producing high-quality products at low cost.
FUJIFILM Business Innovation will continue to source the multifunction devices and printers that are currently manufactured by FUJIFILM Business Equipment Shanghai, even after the transfer of equity investments.
The transfer is currently scheduled to be completed on 1 December 2022.
