Bringing an end a business arrangement dating back to 1962, Fuji Xerox Co. Ltd. announced it won’t renew the technology agreement with Xerox Corp. on the agreement’s expiration date, March 31, 2021. The agreement provides for technology/brand licenses and sales territories applicable to each company, the company said. The product supply agreement with Xerox will continue to be effective despite the expiration of the agreement, and Fuji Xerox and Xerox will continue to act as each other’s product supplier, the announcement said.
Under the original agreement, Fuji Xerox and Xerox divvied up global sales territories, but that arrangement now ends. Fuji Xerox is engaged in sales activities in the Asia-Pacific region with the “Fuji Xerox” brand whereas Xerox uses the “Xerox” brand in the other regions.
Due to the expiration, Fuji Xerox will change its company name to “FUJIFILM Business Innovation Corp.” as of April 1, 2021. It will also swiftly work to strengthen its document and adjacent businesses and expand into new business areas. Fuji Xerox aims to foster innovation with the other companies in the Fujifilm Group 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.”