Tokyo, March 6, 2014— At today's meeting of the Ricoh Board of Directors, the decision was made to spin off our electronic devices business, what follows is a detailed explanations of the reasons behind this move.
With the spinoff, Electronic Devices Division, which mainly deals in power management ICs (integrated circuit devices) and other analog semiconductor products, will be transferred to a new company to be established by October 2014.
Because this is a company split by which Ricoh's wholly owned subsidiary takes over a business unit, certain matters and content have been omitted from this disclosure.
< Objective of the Reorganization>
In line with its 18th Mid-Term Management Plan for the three years starting in April 2014, Ricoh will pursue group synergy by combining its comprehensive strengths to reinforce the industrial products business as a new business pillar to succeed the imaging & solutions business.
As part of this initiative, the spinoff of the electronic devices business with an environment and model different from Ricoh's core imaging & solutions business will be implemented with the aim of expediting decision-making based on independence and autonomy and develop an efficient management infrastructure suitable for the business, thereby increasing its competitiveness in the fast changing market environment for semiconductors.
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/
Information in the news releases is true and accurate at the time of publication.
Manufacture, sales, price and specifications of products may be subject to change.