Fuji Xerox to Set Up Document Digitization JV with U.S. Startup

Economy

Tokyo, Sept. 3 (Jiji Press)--Fuji Xerox Co., a unit of Fujifilm Holdings Corp. <4901>, said Thursday it will set up with U.S. startup Ripcord Inc. a joint venture to offer document digitization services for businesses.

The fifty-fifty venture, Fujifilm Ripcord, will be established in September. The two sides aim to boost its sales to over 30 billion yen by around 2025.

For the digitization services, the new company will utilize Ripcord's robot technology to remove staples from documents and artificial intelligence to automatically categorize data.

The data, to be managed in a cloud network, will be easy to search and use even from remote locations.

The company will start business in Japan and then expand into other Asian and Oceanian economies.

[Copyright The Jiji Press, Ltd.]

Jiji Press