Agreement signed to transfer equity investments in the consolidated subsidiary, FUJIFILM Business Equipment Shanghai Corp.
July 20, 2022
FUJIFILM Business Innovation Corp. announces 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 July 19, 2022. FUJIFILM Business Equipment Shanghai Corp. mainly manufactures mid- to low-speed multifunction devices and printers.
In an effort to optimize the manufacturing structure for multifunction devices and printers, FUJIFILM Business Innovation concluded that the combination of FUJIFILM Business Equipment Shanghai’s manufacturing capabilities with EVA Group’s advanced productivity and track record as a parts supplier will generate significant synergy. 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 December 1, 2022.
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