NEC will transfer all its laser printer businesses, including research, development, manufacturing, marketing and maintenance service operations, as well as its subsidiaries, to Fuji Xerox.
Both companies aim to finalize the official agreement by July 31, 2001 and to complete the transfer by August 31, 2001.
In addition, NEC will also transfer all shares of NEC Niigata Ltd., NEC’s major development and manufacturing centre for laser printers, to Fuji Xerox.
As part of its corporate strategy, NEC is focusing its business resources on its Internet business. Based on the fact, NEC decided to transfer its laser printer business, where it has a strong presence in low-cost engine and controller technology, rather than continue to invest in the area.