Tokyo, Feb. 15, 2012 — Ricoh Company, Ltd. has established an IT-focused R&D facility in Bangalore in southern India, Ricoh Innovations Private Limited (RIPL). RIPL is incorporated as a subsidiary of Ricoh Innovations, Inc. (RII), a 100% Ricoh-owned research institute in Silicon Valley, USA. RIPL will begin by creating IT solutions adapted to India's needs, incorporating leading-edge core IT technologies cultivated at RII and Ricoh. Eventually, RIPL will also search for business opportunities in similar market environments.
India, with a population of 1.2 billion, continues to enjoy strong economic growth, placing the country as fourth in GDP based on Purchasing Power Parity (*1) after Japan. One of the country’s most significant features is that the average age of the population is approx. 25. The working population will thus continue to increase (*2). Use of the Internet in the mobile environment is expected to expand rapidly, for both work and everyday life, as the IT infrastructure continues to improve.
Ricoh does business in more than 200 countries and regions throughout the world and has a global R&D network providing products and services to the global market. RIPL reflects the understanding that local R&D is indispensable in providing core IT solutions as they apply to the needs of the Indian market. RIPL will deploy R&D for India-based technologies, promoting close collaboration with RII, which pursues its own mission of creating new value and business opportunities. RIPL will focus on fields such as education, media, entertainment, health care, and finance.
In education, for example, smartphone services will be targeted to help students in accessing related information on teaching materials or in exchanging ideas through social networks. They will do so this by applying Ricoh Visual Search technology (*3) developed by RII. These application concepts surfaced in the course of trials with students at the prestigious Indian Institute of Technology even before the establishment of RIPL, and the collaboration with IT students will continue as research progresses.
"We believe that products and services which enjoy success in the Indian market can in turn succeed in newly emerging markets in Africa, the Middle East, and Southeast Asia, which have a combined population totaling 2.5 billion people," said Hiroshi Kobayashi, Ricoh Corporate Executive Vice President and Chairman of RII. "Beyond that, solutions competitive in emerging markets have the possibility of spawning new innovations in advanced nations (reverse innovation)."
RIPL is committed to exploring new IT solutions, promoting the fusion of innovative technologies with local needs.
|Corporate name||：||Ricoh Innovations Private Limited (RIPL)|
|Address||：||4th Floor, Embassy Star, 8 Palace Road,
Vasanthnagar, Bangalore, Karnataka, INDIA 560052.
Telephone number: +91-80-4936-0700.
|Date of foundation||：||February 15, 2012 (Registration dated November 8, 2011)|
|Managing Director||：||Mr. Kaip Sridhar|
|Executives||：||Mr. Hiroshi Kobayashi (Ricoh Corporate Executive Vice President and Chairman of RII)
Mr. Tetsuya Takano (Managing Director and CEO of Ricoh India Limited)
Dr. Nikhil Balram (President and CEO of RII)
Mr. Kaip Sridhar (Managing Director of RIPL)
|Area of research||：||R&D of applications for advanced IT in such areas as education, media, entertainment, finance, and health care|
|No. of employees||：||Small number at start, and about 30 persons within one year.|
Ricoh is a global technology company specializing in office imaging equipment, production print solutions, document management systems and IT services. Headquartered in Tokyo, Ricoh Group operates in about 200 countries and regions. In the financial year ending March 2014, Ricoh Group had worldwide sales of 2,195 billion yen based on the IFRS accounting standard (approx. 21.3 billion USD).
The majority of the company's revenue comes from products, solutions and services that improve the interaction between people and information. Ricoh also produces award-winning digital cameras and specialized industrial products. It is known for the quality of its technology, the exceptional standard of its customer service and sustainability initiatives.
Under its corporate tagline, imagine. change. Ricoh helps companies transform the way they work and harness the collective imagination of their employees.
For further information, please visit www.ricoh.com/about/
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