Xerox In Talks For Deal With Japan's Fujifilm

Fuji Film

Fujifilm said it would not comment on speculative reports.

TOKYO-When Fujifilm Holdings Corp. first started a joint venture in photocopiers with Xerox Corp. more than 55 years ago, the Japanese company was in the shadow of its famous USA partner. However, the deals don't appear to include a full takeover of the company.

Xerox "desperately" needed new leadership as it was slow to launch new products and increase revenue, activist investor Carl Icahn wrote in an open letter to shareholders in December, a day after nominating four members to the board.

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The talks are taking place as Xerox deals with what The Wall Street Journal described as a "continued slump in sales and profit".

The copier joint venture, Fuji Xerox, was created in 1962 and now accounts for almost half of Fujifilm's sales and operating profit. It's also possible that the deal between the Xerox and Fujifilm could result in the former cutting costs and becoming a leaner company.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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