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News Release

Response to a petition filed by a vendor of an overseas affiliate to initiate the insolvency solution process

October 27, 2017

Our consolidated subsidiary, Ricoh India Limited (Headquarters: New Delhi, Bombay Stock Exchange – referred to as Ricoh India from here) yesterday announced that its vendor, Fourth Dimension Solutions (Headquarters: New Delhi, National Stock Exchange – referred to as FDS from here), as a creditor of Ricoh India, filed a petition with the National Company Law Tribunal (NCLT) to initiate the insolvency solution process under the Insolvency and Bankruptcy Code of India.
Ricoh India is taking suitable legal advice on the matter and will contest the matter as per the process of law.

On September 11, 2017, FDS filed a similar petition, and the NCLT rejected it on September 29.

Please note that specifically in relation to this matter, there are no changes to the published consolidated financial outlook for the fiscal year, ending March 31, 2018, for Ricoh Company, Ltd.
However, Ricoh Company, Ltd. separately announced today the revision to its financial outlook.

Ricoh India Overview and Relationship with Ricoh Company, Ltd.

(1) Firm Name Ricoh India Limited
(2) Date of Establishment October, 1993
(3) Location of Head Office 801, 8th Floor, Ackruti Star, MIDC Central Road, Near Marol Telephone Exchange, MIDC, Andheri - East, Mumbai-400 093
(4) Representative A.T. Rajan (Managing Director and CEO)
(5) Net Sales 12.2 billion rupees(21.1 billion yen)(as of the end of March, 2017)
(6) Stated Capital 398 million rupees (688 million yen)
(7) Description of Business Sales of office equipment
(8) Our Investment Ratio 73.6%
    46.04%...Ricoh Company, Ltd.
    27.56%...NRG Group Limited
(9) Sum of liabilities of Ricoh India 21.0 billion rupees (36.3 billion yen)
(as of the end of March, 2017)
(10) Sum of claims against Ricoh India 47 million yen (as of the end of March, 2017)
(11) Sum of guaranteed liabilities against Ricoh India (Maximum amount) 28.8 billion yen (as of the end of March, 2017)
(12) The value of stock of Ricoh India at Ricoh Company, Ltd. Ricoh has already recorded impairment losses in Ricoh India stock, and its current stock value is 1 yen.