Fujifilm Business Innovation Corp. and Konica Minolta, Inc. have announced that their joint venture, Global Procurement Partners Corp., will officially launch on January 31, 2025, following the completion of international competition law reviews and approvals.
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The new venture will centralize procurement strategies for both companies, focusing on raw materials and parts used in the production of printers and related products.
The finalized details of the venture include:
- Company Name: Global Procurement Partners Corp.
- Location: Shin-Yokohama, Yokohama City, Kanagawa Prefecture
- Capital: ¥50 million JPY ($0.32 million USD)
- Leadership: Masaharu Furukawa, Corporate Vice President and Director, Fujifilm Business Innovation Corp.
- Employees: 192 staff members (137 from Fujifilm, 55 from Konica Minolta)
- Ownership: Fujifilm (75%) and Konica Minolta (25%)
The company’s operations will encompass procurement strategy development, supplier negotiations, and ensuring the quality, cost efficiency, and environmental compliance of externally sourced goods.
Discussions of a potential collaboration were first publicly revealed in April 2024 , when Fujifilm and Konica Minolta signed a memorandum of understanding. Both companies emphasized the importance of responding to rapidly changing market dynamics through strategic partnerships. Procurement collaboration was identified as a primary focus, with both parties exploring the formation of a joint venture to streamline and enhance their supply chains.
In July 2024 , the companies signed a formal joint venture agreement. While many operational details were unveiled at that time, specifics like the company name and establishment date remained pending. The finalized plans announced today reflect minor adjustments to earlier projections, including a slightly delayed launch date.
By pooling resources and expertise, the joint venture aims to optimize supplier networks, improve business efficiency, and bolster the corporate foundations of both companies. Fujifilm and Konica Minolta’s decision to centralize procurement operations is also expected to reduce costs and enhance their ability to meet quality and sustainability goals.
Source: RTM World
Covered By: Imaging Solution / Fujifilm / Konica Minolta
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