Ricoh Announce to Sell Ricoh Logistics System Shares

Originally published at Ricoh.
Ricoh reaches agreement to sell shares in Ricoh Logistics System

According to Ricoh, the Ricoh Board of Directors agreed to sell 66.6% of the company’s shares in Ricoh Logistics System Co., Ltd., to SBS Holdings Co., Ltd. Ricoh thereafter plans to transfer all of its remaining ordinary shares in Ricoh Logistics System, representing a 33.3% stake (equivalent to over one-third), to a new joint venture. Following that transfer, Ricoh intends to transfer ordinary shares equivalent to a 33.4% of the new joint venture company to Otsuka Corporation (collectively, these transfers are “Transactions”). Ricoh plans to complete these transactions, subject to the approval of the relevant regulators, on August 1, 2018. Ricoh Logistics System would thereby become an equitymethod affiliate.

In transferring these shares, Ricoh aims to boost the business of Ricoh Logistics System through a partnership with SBS Holdings, enhancing its competitiveness and accelerating its growth through new capital, resources, and expertise. After these Transactions, Ricoh Logistics System will continue to handle logistics and other services for the Ricoh Group, Otsuka, and other customers. Ricoh Logistics System and SBS Holdings are extremely complimentary businesses because they both focus on 3PL services. The agreement to transfer shares came about following Ricoh’s conclusion that new synergies could be created by combining the networks, customer base, technologies, and know-how of Ricoh Logistics System and SBS Holdings. Not only would this create a strong third-party logistics conglomerate with a full range of logistics capabilities, but it would also enable Ricoh Logistics System to progress sustainably and enhance their corporate value.

For more details of the transaction, please click here.