Mitsubishi Heavy Industries, Ltd. (MHI) and Fuji Xerox Co., Ltd. have reached an agreement on comprehensive business alliance in document services to build a printing environment and optimize the document services operations in the MHI group. MHI is to establish a spin-off company by splitting the document-related business of its consolidated subsidiary, RYOIN Co., Ltd. Fuji Xerox will acquire shares of the newly established company and take over the business concerned from RYOIN.
Maximizing its accumulated knowhow on document services, Fuji Xerox will offer its services to the MHI group under the strengthened partnership established with the Group by succeeding the document-related business from RYOIN—aiming at further expansion of Fuji Xerox's services business.
As one of the measures under its mid-term business plan, MHI is promoting corporate reform and streamlining. By jointly establishing the new company with Fuji Xerox, which will provide optimal services to the company, MHI aims to boost efficiency in its document-related operations and achieve a drastic cut back on cost.
Further details including the name of the new company and its management setup will be announced separately.