Fuji Xerox has confirmed the new names of its Asia Pacific affiliates following the end of its partnership with Xerox from April 2021.
Back in January, the printing giant announced its decision to end its technology agreement with Xerox on its expiry on 31 March 2021, with it planning to take up the brand of Fujifilm Business Innovation afterwards.
That impact of that decision on its Asia Pacific affiliates has now been revealed, with every one taking on the name change. From the end of the agreement, Fuji Xerox Australia will be rebranded as Fujifilm Business Innovation Australia. Likewise, Fuji Xerox New Zealand will become Fujifilm Business Innovation New Zealand.
The name change is designed to show a move from Fuji Xerox’s traditional printer and document solutions business into cloud, artificial intelligence and the internet of things, the printing giant claimed back in January.
However, the company, which is owned by Fujifilm Holding, claimed at the time of the initial announcement that it will “swiftly work to strengthen its document and adjacent businesses”.
Despite the agreement expiry, Fuji Xerox is also still planning to continue providing services and maintenance, including manage print services, as part of current agreements.
According to the vendor back in January, the decision will “pave the way” for it to expand its business worldwide under the new original brand, giving it the opportunity to sell directly in Europe and North America.
“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. “The announcement of ending the technology agreement with Xerox Corporation opens doors for Fuji Xerox to, after April 2021, utilise our own technologies and synergise with technologies owned by other Fujifilm Group companies to produce/market products and solutions under our own new brand worldwide.”
The impending rebrand comes as Fuji Xerox Australia made a profit for the year ending 31 March 2020 despite seeing its revenue contract. The printing giant saw its revenue fall to $608 million, down 6 per cent from $650 million in 2019.
However, having been landed with a $49 million tax bill in 2019, and subsequently posting a loss of $47 million for that year, Fuji Xerox returned to the black with a profit of $5.9 million.
More recently, it follows the Australian subsidiary of the multinational facing allegations of 173 unfair contract terms with small businesses brought upon by the Australian competition watchdog.