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News Release

Ricoh to Acquire IT Services Provider in Korea

Tokyo, July 16, 2014—Ricoh today announced that its subsidiary in Korea, Ricoh Korea Co., Ltd. has signed an agreement with FutureTech Ltd. and FutureWare Ltd. to transfer all their stocks to Ricoh Korea. The acquisition is the latest strategic investment by Ricoh to expand and deepen its services portfolio and strengthen its presence in Korea.

FutureTech and FutureWare provide IT services, solutions, and maintenance in Korea with approximately 160 specialized employees. FutureTech and FutureWare provide onsite service in 7 sites in Korea. FutureTech has 17 years of experience in providing IT services and distributing office equipment such as PC, printers, and servers. Combined with Ricoh’s global expertise the companies will build an even stronger unified team to provide new value to customers.

Haruhisa Sakai, CEO of Ricoh Korea said, “Since Ricoh Korea was established last year, it is one of the most important step in our growth strategy toward the future. We will further strengthen our value propositions and capabilities to provide better service to our customers through the acquisition.”

Customers in Korea will have increased access to an extensive support program from Ricoh’s network including its services portfolio. Furthermore, from the synergy of FutureTech, FutureWare, and Ricoh, the customers will have access to Managed Document Services, office products and services with high added value.

Company Outline
Name: FutureTech Ltd., FutureWare Ltd.
Established: FutureTech established in 1997
FutureWare established in 2001 as a fellow subsidiary of FutureTech mainly focusing on sales and network setting
Office location: HQ location Seoul, 6 branch offices
Business: IT infrastructure services deployment and system maintenance services including distribution and maintenance of PC, printers, and server. Software development, network installation, and distribution of VMWare virtualization solutions
Number of employees: Approx. 160

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About Ricoh

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.
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