Ricoh Company, Ltd. and Toshiba Tec Corporation have recently announced a strategic business partnership aimed at enhancing their competitiveness in the office printing device manufacturing sector. Through a company split and the integration of their multifunction printer (MFP) development and manufacturing operations, the collaboration seeks to leverage the companies’ respective technological strengths, improve supply chain flexibility, and promote a circular economy by emphasizing recycling efforts. The joint venture intends to focus on developing innovative solutions, integrating image recognition technology, and delivering high-quality products to the global market. With a shared goal of helping customers enhance productivity and achieve digital transformation in their workplaces, this partnership signifies a significant step forward in the evolution of office printing technologies.
- Ricoh Company, Ltd. and Toshiba Tec Corporation have announced a business partnership through a company split and the integration of their multifunction printer (MFP) development and manufacturing operations.
- The partnership aims to strengthen competitiveness in the office printing device manufacturing sector by leveraging the companies’ respective technological strengths, enhancing supply chain flexibility, and promoting a circular economy through improved recycling efforts.
- The joint venture will focus on developing innovative solutions, integrating image recognition technology, and providing high-quality products to the global market, while helping customers enhance productivity and achieve digital transformation in their workplaces.
Ricoh Company, Ltd. (President and CEO: Akira Oyama) and Toshiba Tec Corporation (President and CEO: Hironobu Nishikori) have announced a business partnership through a company split and the integration of multifunction printers’ (MFPs) development and manufacturing. The agreement was finalized at the respective boards of directors’ meetings held by both companies.
The integration agreement, also known as the Business Integration, aims to combine the strengths of Ricoh and Toshiba Tec in the development and production of office printing devices. This collaboration is a response to the changing office printing market, which is recovering from the impact of the COVID-19 pandemic but continues to face the transition towards paperless operations. Additionally, the need for digitalization and solutions that support remote work and streamline office operations has become more prominent.
As part of the Business Integration, the two companies will establish a joint venture that will focus on MFPs’ development and manufacturing. By leveraging their respective technological expertise, the companies plan to enhance planning, design, and development functions. They will also jointly procure parts and materials and optimize their production bases to establish a flexible and resilient supply chain. Both companies will contribute to a circular economy by improving the efficiency and sophistication of recycling efforts for used MFPs.
Furthermore, the partnership will facilitate collaboration in the planning and development of new solutions. Ricoh and Toshiba Tec will combine their resources and technologies to create innovative solutions that support customers’ digital transformation (DX) initiatives. This includes utilizing Toshiba Tec’s barcode printers, RFID, and other technologies alongside Ricoh’s optical and image processing technologies, such as cameras and projectors.
The joint venture will offer competitive and high-value-added products in the global market through their respective branded products, prioritizing a unique user experience. Each company will also provide software and services tailored to customers’ needs through their existing sales channels. By assisting customers in digitalizing and improving workflows, Ricoh and Toshiba Tec aim to address social issues and contribute to the realization of DX in workplaces.
The business integration process will involve an absorption-type split, with Ricoh Technologies Company, Ltd., a subsidiary of Ricoh in Japan, becoming the successor company. The investment ratio in the joint venture will be 85% by Ricoh and 15% by Toshiba Tec. The specific date for the completion of the integration is scheduled to be between April 1, 2024, and June 30, 2024.
The implementation of the business integration is subject to various conditions, including obtaining necessary approvals and completing procedures under competition laws and foreign investment regulations. The schedule provided is subject to change based on the progress of these procedures and other factors.
Both companies emphasize that the integration will strengthen their competitiveness, enhance their business foundations, and enable them to better serve customers in the evolving office printing industry. Through this strategic partnership, Ricoh and Toshiba Tec aim to drive innovation, meet market demands, and create new value for their customers.
FAQ
Q: What is the collaboration between Ricoh and Toshiba Tec about?
A: The collaboration between Ricoh and Toshiba Tec focuses on office printing innovation and boosting productivity through their strategic alliance.
Q: What benefits can businesses expect from this collaboration?
A: Businesses can expect efficient office printing solutions, sustainable practices with a circular economy focus, and digital transformation opportunities for their printing needs.
Q: How does the partnership between Ricoh and Toshiba Tec contribute to sustainability?
A: The partnership emphasizes sustainable practices by incorporating circular economy principles, aiming to reduce waste and promote environmentally friendly printing solutions.
Q: What are some key highlights of Ricoh and Toshiba Tec’s collaboration?
A: Key highlights include cutting-edge office printing technology, enhanced productivity, and a shared commitment to digital transformation in the printing industry.
Q: How does this collaboration address the evolving needs of businesses?
A: The collaboration between Ricoh and Toshiba Tec ensures that businesses can stay ahead by providing innovative, efficient, and digitally enabled printing solutions tailored to their evolving needs.
