Bloomberg News

Fuji Xerox Aims to Increase Sales in China 67% by Fiscal 2013

December 13, 2011

Dec. 13 (Bloomberg) -- Fuji Xerox Co., Japan’s third- biggest copier maker, aims to increase China sales by 67 percent in three years by doubling the number of dealerships and boosting its sales force.

“China is the world’s No. 1 market, where there is a great demand for both high- and low-end products,” President Tadahito Yamamoto said in an interview in Tokyo today. “We plan to sell 1 million low-end copiers in China by fiscal 2015.”

Fuji Xerox, 25 percent owned by closely held Xerox Ltd., has been expanding its business to China and Asia Pacific countries. The Tokyo-based company plans to boost its overseas sales ratio to 50 percent in the year ending March 2014 from 41 percent in fiscal 2010, led by developing countries, mainly China, Yamamoto said today.

Fuji Xerox, a subsidiary of Fujifilm Holdings Corp., operates in 28 cities in China. The company had sales of 60 billion yen ($772 million) in the world’s most-populous nation in fiscal 2010 and is aiming for 100 billion yen in three years, Yamamoto said.

The company plans to increase its dealerships in three years to 1,200, compared with 600 now, and expand its sales force in two years to 1,000, compared with 700 now, he said.

Fuji Xerox plans to achieve annual sales of 1.1 trillion yen in the year ending March 2014, up 13 percent from fiscal 2010, Fujifilm said in October.

Fujifilm, which makes equipment for medical scans, has been reported as a possible bidder for Japanese camera maker Olympus Corp. Yamamoto, who also is a board member at Fujifilm, declined to comment on a possible buyout of Olympus today.

Fujifilm Chief Executive Officer Shigetaka Komori said last month it was too early to discuss Olympus issues while the third-party panel was still probing the fraud at the camera maker.

--Editors: Garry Smith, Michael Tighe

To contact the reporters on this story: Kazuyo Sawa in Tokyo at ksawa3@bloomberg.net; Takashi Amano in Tokyo at tamano6@bloomberg.net

To contact the editor responsible for this story: Michael Tighe at mtighe4@bloomberg.net


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