TOKYO, May 19, 2023 – Ricoh Company, Ltd. (President and CEO: Akira Oyama; hereinafter “Ricoh”) and Toshiba Tec Corporation (President and CEO: Hironobu Nishikori; hereinafter “Toshiba Tec”) hereby announce that today at meetings of the Boards of Directors of both companies, the two companies resolved to conclude an agreement to set the terms and conditions for integrating businesses regarding the development and manufacturing of multifunction printers and other devices (hereinafter “MFPs”) by necessary procedures such as company split effective on a specific day between April 1, 2024 and June 30, 2024 to be separately agreed upon by the two companies (hereinafter the “Business Integration”). The Boards of Directors of both companies also resolved to conclude a shareholders agreement related to the Business Integration.
Based on these resolutions, the two companies will perform procedures such as company split with the aim of realizing a joint venture effective on a specific day between April 1, 2024 and June 30, 2024 to be separately agreed upon by the two companies, that takes on the role of MFPs' development and manufacturing with both companies as shareholders.
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Ricoh is a leading provider of integrated digital services and print and imaging solutions designed to support digital transformation of workplaces and optimize business performance.
Headquartered in Tokyo, Ricoh's global operation reaches customers in approximately 200 countries and regions, supported by cultivated knowledge, technologies, and organizational capabilities nurtured over its 85-year history. In the financial year ended March 2023, Ricoh Group had worldwide sales of 2,134 billion yen (approx. 16.0 billion USD).
It is Ricoh's mission and vision to empower individuals to find Fulfillment through Work by understanding and transforming how people work so we can unleash their potential and creativity to realize a sustainable future.
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