UPDATE 1-Carl Icahn seeks revision or termination of Xerox-Fujifilm deal

(Adds background, details from open letter)

Jan 18 (Reuters) - Xerox Corp investor Carl Icahn on Thursday said he agreed with fellow stakeholder Darwin Deason that a joint venture between Xerox and Fujifilm Holdings should be revised or terminated, and reiterated a change in leadership.

On Wednesday, Deason urged the photocopier pioneer to make public its joint venture agreement with Japan's Fujifilm, saying U.S. securities laws require it.

"It is hard to see how any Xerox shareholder could disagree", the activist investor said of Deasons view on the venture in an open letter that he earlier tweeted.

Carl Icahn through Icahn Associates Corp holds about a 9.7 percent stake in Xerox - making him the largest shareholder, while Deason is the third-largest shareholder, according to Thomson Reuters data.

Xerox, in a statement on Wednesday, said it reviewed the letter from Deason and believes that his assertions and characterizations are "false and misleading."

Icahn, who has in the past called for a leadership change at Xerox, said "drastic action is needed now" as fears of failing to replace Chief Executive Jeff Jacobson could lead to a loss of his investment.

Xerox and Fujifilm have a five-decade-old copier joint venture focusing on the Asia-Pacific region including Japan and China.

Shares of Xerox were down 0.6 pct at $31.73 in early trade. (Reporting by Munsif Vengattil and Muvija M in Bengaluru; Editing by Bernard Orr)