The bank’s initiatives to explore new geographies could help it diversify its customer base and augment its revenue. In Janua ry
2014, the company launched the Open Innovation Hub, a venue for presenting Fujifilm Group's fundamental and core technologies
and materials, and products and services based on such technologies to external business partners including companies and
research institutes to initiate “co-creation” of fresh values. In December 2013, the company partnered with the Alzheimer’s Disease
Cooperative Study (ADCS), the largest Alzheimer’s disease therapeutic research consortium in the US, to carry out a Phase II
clinical trial of the Alzheimer’s disease drug “T-817MA” to accelerate its development in the US. In November 2013, the company
established the local subsidiary, Fujifilm Myanmar Limited, in the Republic of the Union of Myanmar. The company, together with
FUJIFILM Global Graphic Systems Co., Ltd., and Heidelberger Druckmaschinen AG, signed a strategic partnership in the area of
inkjet printing. In January 2013, the company established Fujifilm Colombia S.A.S as a subsidiary in Colombia, and Fujifilm Latin
America (PANAMA) S.A. in Panama.
Earlier, the company announced the establishment of a direct selling system and the launch sales operations in early May to be
managed by its subsidiary in Vietnam. In September 2011, the company established its subsidiary FUJIFILM Middle East FZE, in
Dubai, the United Arab Emirate in a drive to accelerate business expansion in the Middle East and African market. This initiative
could enable it to explore the market potential in the Middle East and African countries. During the same month, the company
introduced the ASTALIFT series of skincare products in the Chinese market. Before the launch, the ASTALIFT series earned high
user acclaim in Japan among women eager to maintain youthful skin. As part of Fujifilm’s effort to expand the healthcare business,
it initiated worldwide introduction of skincare products which incorporate Fujifilm’s proprietary technologies. In 2010, the company
integrated two of its US-based subsidiaries, Problem Solving Concepts Inc. and Empiric Systems, LCC into FUJIFILM Medical
Systems U.S.A., Inc. This initiative was designed to strengthen its capacity for product development and business expansion in the
US. Such business expansion initiatives could enable the company to diversify its revenue sources, and mitigate the risk of
operating in a particular economy.