Jiji Press TOKYO (Jiji Press) — Fujifilm Holdings Corp. said Monday that it will make Tokyo-based Toyama Chemical Co. a fully owned subsidiary at the end of July.
Fujifilm, which now owns 66 percent of Toyama Chemical, will acquire the remaining 34 percent equity stake from Taisho Pharmaceutical Holdings Co. The value of the deal has not been disclosed.
The move is aimed at strengthening the Fujifilm group’s health care business.
On Oct. 1, Toyama Chemical and Fujifilm RI Pharma Co., a wholly owned Fujifilm unit in Tokyo, will be merged into a new company, Fujifilm Toyama Chemical Co.
Fujifilm acquired Toyama Chemical for some ¥130 billion through a tender offer in 2008.
Toyama Chemical focuses on the development of new medicines, conducting clinical trials of flu and dementia drugs in the United States.