TOKYO -- Shigetaka Komori, the man who steered Japan's Fujifilm Holdings through the decline of the photo film industry and transformed it into a medical and office equipment maker, will step down as chairman after leading the company for 20 years, Nikkei has learned.
His retirement will be confirmed following the general shareholders meeting in June, after which he will serve as the company's chief adviser.
Kenji Sukeno, the company's current president and chief operating officer, will be appointed chairman, and Teiichi Goto will take over as president and CEO.
Komori, now 81, was appointed president of Fujifilm in 2000, when the manufacturer was hit hard by shrinking demand for photographic film due to the growing popularity of digital cameras.
Fujifilm moved into the pharmaceutical market in 2008 after acquiring Toyama Chemical, and the company reinforced its medical business through the purchase of Wako Pure Chemical Industries in 2017.
Komori became chairman in 2012 and for the last five years has managed the company alongside Sukeno, who became president in 2016.
The group forecasts its consolidated net income will reach a record-high in the fiscal year ending March 2021, on the back of a strong performance by its biopharmaceutical business.
Goto, the incoming president, is currently in charge of the medical devices business and led negotiations to acquire the diagnostic imaging equipment business from Hitachi. As president, he will accelerate the expansion of Fujifilm's health care and overseas operations.