Ricoh Provides Updated Joint Venture Plans with Toshiba

Ricoh Provides Updated Joint Venture Plans with Toshiba

On February 6, 2024, Ricoh Company, Ltd. shared three important updates with the Tokyo Stock Exchange about its partnership with Toshiba Tec Corporation.

This partnership, announced on May 19, 2023, involves combining efforts to develop and manufacture multifunction printers (MFPs).

Ricoh and Toshiba Tec have agreed to split a part of their businesses into a new company called Ricoh Technologies Corporation (the Joint Venture company). This decision was approved by both companies’ boards of directors, and the necessary agreements were signed on the same day.

The joining of businesses will mostly happen through an absorption-type split. This means Ricoh’s and Toshiba Tec’s businesses will move to a new company, part of Ricoh in Japan. After the businesses join, Ricoh will own 85% of the Joint Venture, and Toshiba Tec will own 15%.

The joint venture will see the development and manufacturing of MFPs is expected to:

• strengthen competitiveness and business foundations of office printing device manufacturing
• collaborate on the planning and development of new solutions on the frontlines, utilizing the technologies and resources of the two companies.

The effective date for the new joint venture will be July 1, 2024. The new company name will be ETRIA Co. Ltd. This should not be confused with ETIRA, the European Toner and Ink Remanufacturers Association.

Some matters and details that were previously uncertain have now been clarified. There have been some changes in the details of the arrangement:

Related:

• Ricoh and Toshiba Resolves to Conclude an Agreement

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