YOKOHAMA, JAPAN—  Fujifilm Business Innovation and Konica Minolta have decided on the name for their joint venture for procurement, Global Procurement Partners Corp, was officially established at the end of January. Plans for the strategic alliance were announced by the two Japanese manufacturers nine months ago. Fujifilm Business Innovation is the majority partner with a 75% stake, with Konica Minolta holding the remaining 25%. The new company is based in Yokohama City and has 192 employees with 137 seconded from Fujifilm BI, and 55 from KM. The business has three core functions: development of procurement strategies and deployment to the procurement function divisions at each production site; procurement lead function, including negotiation with suppliers and procurement management; and procurement services to ensure quality, cost, delivery, and environmental compliance of externally purchased goods. The two Japanese companies said that this strategic alliance would optimize “procurement, toner development, and production efficiencies”, and that the market landscape for MFPs and printers “requires proactive measures”