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Fuji Xerox Establishes A Leasing Company In China
Offers Customers One More Choice For Quality Services
May 16, 2005, Beijing, China
| Fuji Xerox announced today that it established a leasing company, Fuji Xerox Leasing (China) Ltd, on April 13 to further promote and expand its business in China, a strategically important market for the company. Fuji Xerox is the first IT multinational firm to obtain approval from the Ministry of Commerce in China to set up a leasing company, which would enable the company to develop a new business growth model. |
| With a total capital of US$20 million,
the leasing company's business scope will span lease financing,
the leasing business, purchase of leased properties, disposal
of residual values and maintenance of leased properties, and
lease transaction consultation and security services. It expects
single-year profits in its first fiscal year, and aims to
increase sales revenues to 20 billion Japanese yen by fiscal
2008. |
| Fuji Xerox anticipates that the high-end-product market in China will grow rapidly, and recognizes that capturing the market is key to its vigorous growth. To secure this growth, it needed to establish a strategic scheme to further boost sales. In addition to conventional direct marketing and sales, the new leasing company provides Fuji Xerox's customers with another option to purchase high-value added products, particularly in production printing systems, color and office services business areas. |
| The leasing company also improves Fuji
Xerox's capacity to manage its sales information including
how many machines are in the market and how long customers
have been using the machines, ultimately to provide better
quality services for customers as well as to strengthen the
competitiveness of Fuji Xerox's products. |
| "Setting up such a leasing company,
an indispensable sales tool to achieve our business goals,
is one of the major steps that we have taken to further expand
our business in China," said Jiro Shono, executive vice
president of Fuji Xerox and chairman of the new leasing company.
"It also follows our global business growth strategy
as we have extensive, successful experience in leasing business." |
| Fuji Xerox has been conducting the leasing
business in other Asia-Pacific countries and regions for more
than 13 years, and has built up extensive related experience,
equipped with numerous professionals in the leasing sector.
This provides a solid basis for its leasing business to enter
the China market. |
| "I believe that Fuji Xerox Leasing
(China) will help raise the sales volume of the high-end,
high-value added products in the rapidly growing Chinese market,"
Shono said. |
| [Fuji Xerox Leasing (China) Overview] |
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| Location: |
Room 3201, Hong Kong New World Tower,
No. 300, Huaihai Zhong Lu, Lu Wan Dist. Shanghai
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| Established: |
April 13, 2005 |
| Operations: |
Scheduled for June 1, 2005 |
| Chairman: |
Jiro Shono (Executive Vice President
and Director of Fuji Xerox) |
| General Manager: |
Yoshiaki Takahashi
(Corporate Vice President of Fuji Xerox and General Manager of Fuji
Xerox (China))
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| Capital: |
US$20 million
(Fuji Xerox Asia Pacific Pte Ltd. 99%, Fuji Xerox (China) Limited
1%)
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| Description of business: |
Financing leasing business of office equipment and software as well as related
services
Leasing business
Purchasing of leased properties from domestic or foreign markets
Disposal of residual values and maintenance of the leased properties
Lease transaction consultation and security services |
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