Fuji Xerox is an unconsolidated entity in which we currently own a
25 percent interest, and FUJIFILM Holdings Corporation (“FujiFilm”) owns 75 percent. Fuji Xerox develops, manufactures and distributes document processing products in Japan, China, Hong Kong, other areas of the Pacific Rim, Australia and New Zealand. We retain significant rights as a minority shareholder. Our technology licensing agreements with
Fuji Xerox ensure that the two companies retain uninterrupted access
to each other’s portfolio of patents, technology and products.