TOKYO (Reuters) - Fujifilm Holdings Corp (4901.T) said on Tuesday it is considering buying Hitachi Ltd’s (6501.T) diagnostic imaging business, as the Japanese photocopier and camera manufacturer aims to build up its medical business.
Fujifilm has been expanding into healthcare, having recently bought a drugmaking business from U.S.-based Biogen Inc and two biotechnology units from compatriot JXTG Holdings Inc (5020.T), as growth at its legacy photocopy business stagnates.
The value of the deal would be around 170 billion yen ($1.56 billion), a source said on condition of anonymity due to the sensitivity of the issue.
A Fujifilm spokeswoman, speaking after the Nikkei business daily first reported the plan, said it is true that the company is considering the acquisition and the company will make a disclosure when decided.
Hitachi has been reorganizing its business, selling non-core assets while buying foreign businesses to expand digital businesses.
Hitachi said in a statement that the company is considering various options to raise its corporate value, but there is nothing to disclose at this point.
Reporting by Makiko Yamazaki and Noriyuki Hirata, editing by Louise Heavens