Xerox Acquisition Issue Unlikely to End This Year: Fujifilm

Economy

Tokyo, Nov. 7 (Jiji Press)--Japan's Fujifilm Holdings Corp. <4901> is unlikely to reach a deal with Xerox Corp. on the proposed acquisition of the U.S. office equipment giant by year-end, President Kenji Sukeno suggested Wednesday.

In June, Chief Executive Officer Shigetaka Komori indicated a target of deciding in six months whether to continue the acquisition plan.

Sukeno said, however, that the company did not mean to set a deadline. He expressed an eagerness to keep trying to realize the plan without sticking to the six-month time frame.

"The plan agreed with Xerox in January is the best, so we'll try to realize it," Sukeno told a press conference to announce the company's earnings for April-September.

Fujifilm said its consolidated operating profit rose 16.0 pct from a year before to 83,930 million yen thanks to positive effects of structural reforms in office equipment operations, though sales declined 1.3 pct to 1,172,743 million yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press