According to a report by Kyodo News, Fuji Film Co., Ltd., Toyama Chemical Co., Ltd. and Taisho Pharmaceutical Co., Ltd. announced on the same day that Fuji Film Co., Ltd. will acquire 66% of the shares of Toyama Chemical Co., Ltd. through a public stock acquisition. The remaining shares will be held by current shareholder Daisaku Pharmaceutical. The three companies will carry out close business cooperation.
It is reported that Fujifilm has already carried out some medical-related businesses such as image processing and endoscope and other medical device business related to its core film technology. Fujifilm intends to fully enter the pharmaceutical industry through the acquisition of Toyama Chemicals, and strives to increase the sales of its pharmaceutical-related business to more than three times the current level after 10 years, reaching a scale of 1 trillion yen.
Due to the dramatic increase in new drug development costs and fierce market competition, Toyama Chemical lost 8.7 billion yen in fiscal 2006, and its performance continued to deteriorate. Through this cooperation, Toyama Chemical can obtain the funds necessary for the development of new drugs.