Fuji Xerox Expands in Myanmar - Analyst Blog
April 09 2013 - 10:00AM
Zacks
Fuji Xerox Co. Ltd., a wholly owned
subsidiary of Fujifilm Holdings Ltd. (FUJIY), has
established an office in Myanmar. Fuji Xerox, which takes care of
the Documents Solutions business of the group, has become the first
player in the office equipment industry to start its direct
business operations in Yangon, the Republic of the Union of
Myanmar.
Fuji Xerox already had a market for
its printers and copiers in Myanmar through local dealers. In order
to tap the growth potential of the emerging economy, the company
established a new office, which became operational on Apr 1.
The new office in Myanmar was set
up after a thorough study of the market potential, undertaken by
Fuji Xerox Asia Pacific Pte Ltd in Oct 2012. Subsequent to the
government change in the country in 2011, the region has become
lucrative for foreign investments, thereby giving companies like
Fuji Xerox a scope for expansion.
Led by Mr. Yoshio Handa, the new
establishment will help Fuji Xerox to provide maintenance and
customer support to the dealers in Myanmar. The establishment is
seen as a crucial step taken by Fuji Xerox to revive its
business.
Fujifilm Holding’s Document
Solutions segment offers office copy machines, printers, production
systems and services, paper, consumables and office services. In
the third quarter of fiscal 2013, the segment generated revenue of
¥245.1 billion, increasing 3.4% year-over-year. Despite an increase
in revenue, operating profit for the segment declined by 8.0%
year-over-year to ¥16.2 billion, due to a demand deterioration in
Europe.
Fujifilm Holdings currently carries
a Zacks Rank #3 (Hold). Other technology stocks worth a look in the
industry are Advanced Energy Industries Inc.
(AEIS) and Orbit International Corp. (ORBT), both
carrying a Zacks Rank #1 (Strong Buy), whereas Applied
Materials Inc. (AMAT) carries a Zacks Rank #2 (Buy).
ADV ENERGY INDS (AEIS): Free Stock Analysis Report
APPLD MATLS INC (AMAT): Free Stock Analysis Report
FUJIFILM HLDGS (FUJIY): Free Stock Analysis Report
ORBIT INTL CORP (ORBT): Get Free Report
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