Cancellation of the Transfer of Equity Investments in the Consolidated Subsidiary, FUJIFILM Business Equipment Shanghai Corp.

October 24, 2022

TOKYO, October 24, 2022 - FUJIFILM Business Innovation Corp. announces that it will cancel^*1 the transfer of all equity investments in FUJIFILM Business Equipment Shanghai Corp.^*2 held by FUJIFILM Business Innovation (China) Corp., a wholly owned subsidiary in China, to EVA Precision Industrial (Weihai) Limited, a group company of EVA Group Ltd., which was announced on July 20, 2022.

With the cancellation, manufacturing activities by FUJIFILM Business Equipment Shanghai Corp. is currently planned to cease on May 31, 2023, and its permanent closure is planned for mid-2024.

During the process of preparing for this transfer, the number of FUJIFILM Business Equipment Shanghai Corp. employees who applied for early retirement reached a level higher than expected. As such, FUJIFILM Business Innovation concluded to cancel the equity transfer and close its operations as the continuance of FUJIFILM Business Equipment Shanghai Corp.’s operation became uncertain.

• *1 With the cancellation of the transfer, the basic agreement between FUJIFILM Business Innovation and EVA Group Ltd. as well as the agreement between FUJIFILM Business Innovation (China) Corp. and EVA Precision Industrial (Weihai) Limited on the transfer of equity investments, both signed on July 19, 2022, have been terminated by termination agreements signed on October 23, 2022 between respective parties of the original agreements.
• *2 A manufacturing company that mainly produces mid- to low-speed multifunction devices and printers