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Reports: Fujifilm eyes Hitachi's diagnostic imaging arm for ¥170B

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Reports: Fujifilm eyes Hitachi's diagnostic imaging arm for ¥170B

Fujifilm Holdings Corp. plans to acquire Hitachi Ltd.'s diagnostic imaging device unit for about ¥170 billion in a bid to bolster its healthcare business, the Nikkei Asian Review reported.

The companies' boards are scheduled to vote on the potential transaction Dec. 18, according to the Nikkei. A Fujifilm spokeswoman confirmed to Reuters that the company is considering an acquisition and would make an announcement when it is official.

Fujifilm has said it was planning to develop a diagnostic imaging product using its image processing technology with Fuji Xerox Co. Ltd.'s language processing capabilities, the Nikkei said. Xerox Holdings Corp. recently agreed to sell its 25% stake in Fuji Xerox to Fujifilm, giving the Japanese imaging company 100% ownership of the joint venture they established in 1962.

As of Dec. 17, US$1 was equivalent to ¥109.53.