August 30, 2017 / 6:31 AM / 2 years ago

Fujifilm says aims to spend $4.5 billion on M&A over three years

FILE PHOTO: Fujifilm's company logo (top) is seen at its exhibition hall nearby the headquarters of Fujifilm Holdings Corp in Tokyo, Japan June 12, 2017. REUTERS/Kim Kyung-Hoon

TOKYO (Reuters) - Fujifilm Holdings Corp (4901.T) said it aimed to spend 500 billion yen ($4.54 billion) in strategic acquisitions over three years as it seeks growth outside its traditional photographic film business, which has been shrinking.

The company in December announced a deal to buy Takeda Pharmaceutical’s (4502.T) 71 percent stake in Wako Pure Chemical Industries for $1.3 billion in a bid to expand its healthcare business. Last year, it was outbid for Toshiba Medical Systems by Canon Inc (7751.T).

Reporting by Ritsuko Ando; Editing by Chang-Ran Kim

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