Japan's Fujifilm to invest in China Resources Pharmaceutical Group

TOKYO - Fujifilm Corporation, a Japanese maker of photographic films, digital cameras and medical systems, announced Thursday that it has reached an agreement to subscribe for ordinary shares worth HK$820 million ($106 million) in China Resources Pharmaceutical Group Limited.

The purchase will take place in the Chinese drug maker's planned initial public offering and new listing on the Main Board of the Hong Kong Stock Exchange.

Through the acquisition of shares, Fujifilm aims to expand its healthcare business in China, including pharmaceuticals and dietary supplements, regenerative medicine and medical devices, said the Japanese company.

Fujifilm, headquartered in Tokyo, has been operating healthcare business in China for medical diagnosis systems and services including X-ray diagnostic imaging devices, endoscopes and medical IT.