Fuji Photo Film Co. said Monday it has become the leading shareholder in Tokyo drug venture Perseus Proteomics Inc. in a bid to push deeper into the medical business.
The move is part of an effort to branch out into new areas to make up for the slumping photo film business.
Fuji has acquired a 22 percent stake in Perseus by purchasing 998 million yen worth of shares through a third-party allocation.
Fuji is already in the life science business, making X-ray diagnostic instruments and film for such machines.