Fuji Xerox Co. plans to invest a total of Y36 billion (U.S. $299 million) over the next 3 years to expand its sales and service operations in China, a company spokesman said Monday.
In April, the Japanese business appliance maker will also transfer its headquarters for overseas business in the Asia-Pacific region from Tokyo to Shanghai. The region includes China, South Korea, Taiwan, Southeast Asia, and Australia, but excludes Japan. The company said the transfer is based on its overseas business strategy to focus on its Chinese operations. Most of Tokyo staff at the Asia-Pacific headquarters will move to Shanghai.
The move is in line with other Japanese makers of copiers and printers to strengthen not only production operations, but also sales operations in China, where spending power is believed to be growing rapidly.
Fuji Xerox, a joint venture by Fuji Photo Film Co. of Japan and Xerox Corp. of the U.S., aims to double its copier sales in China to Y60 billion ($498 million) in the year starting April 2005.
Fuji Xerox also aims to boost its overseas sales from the current Y140 billion ($1.16 billion) to Y210 billion in the year starting April 2005. It now generates group sales of about Y1 trillion ($8.3 billion).
Under its investment plan for China, the company will set up direct sales bases in nine cities, as well as offices for direct after-sales services in 12 cities.
In line with these steps, Fuji Xerox plans to double the number of its local staff to 1,300 in the year starting April 2005, the company said.
Fuji Xerox is an unlisted company employing 14,463 as of Dec. 31, 2002. Fuji Photo has a 75 percent stake in Fuji Xerox, while Xerox has the remaining 25 percent. (Dow Jones)
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