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.
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.|