Both companies have been cooperating for many years to expand the demand for silver-halide prints across the world. Under the terms of the agreement, Fujifilm and Mitsubishi Paper Mills will now join forces of their individual advanced technological capacity to build a cooperation for photographic paper production with a global prospective. In a press release, Fujifilm points out that digital photography has diversified the ways consumers enjoy their pictures, but since the number of pictures taken had substantially increased, it was likely that the demand for high- quality, fade-resistant silver-halide photo prints will surge.
Under the terms of the agreement, Fujifilm and Mitsubishi Paper Mills will work together to improve the global production efficiency of photographic papers, enhancing the competitive edge of their businesses. As part of the partnership, Mitsubishi Paper Mills will supply Fujifilm with paper base needed for the production of photographic papers. Mitsubishi Paper Mills will invest a total of Yen 4 billion (Euro 25.64 million) in the development of base paper manufacturing facilities and associated environmental measures to ensure stable supply to Fujifilm. To this end, the company will increase capital by approximately Yen 2 billion (Euro 12.82 million) through the third-party allocation of new shares to Fujifilm. Both companies intend to actively build a far-reaching partnership beyond the imaging department to reinforce each other’s individual business operations and international competitiveness.