Fujifilm Holdings Corp. President Kenji Sukeno told shareholders on Thursday that the company will continue to pursue a merger with Xerox Corp. despite the U.S. printer and copier-maker's decision to terminate the deal.

"It is the best option for Fuji Xerox and Xerox. I will continue to seek (the merger)," Sukeno told an annual shareholders meeting in Tokyo at a time when the two companies have diverged over their merger deal announced in January.

Under the deal, Fujifilm would acquire a 50.1 percent stake in Xerox and merge it with joint venture Fuji Xerox Co. The Japanese company holds a 75 percent stake in Fuji Xerox, with Xerox owning the rest.