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”) today resolved at their respective Board of Directors' meetings to integrate, through company splits and other means, the businesses relating to the development and production of multifunction printers and other devices (“Business Integration”) effective on a specific day between April 1, 2024 and June 30, 2024 to be separately agreed upon by the two companies, as described in the “Notice regarding Business Partnership and the conclusion of a Business Integration Agreement and a Shareholders Agreement related to MFPs' development and manufacturing between Ricoh Company, Ltd., and Toshiba Tec Corporation by necessary procedures such as Company Split (Simplified Absorption-type Company Split)” announced jointly by the companies.
Ricoh hereby announces that, in conjunction with the Business Integration, Ricoh Technologies Company, Ltd. (hereinafter the “Joint Venture”), a consolidated subsidiary of Ricoh which will become a parent company of the Joint Venture, and Toshiba Tec will enter into an absorption-type company split agreement. Ricoh's Board of Directors resolved to transfer the shares of five consolidated subsidiaries to the Joint Venture (the “Acquisition of Shares”) through an absorption-type company split under such agreement.
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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.
For further information, please visit www.ricoh.com
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