Ricoh Claims Print Remains at the Heart of its New Strategy
Previously, RT reported on Ricoh’s plans to transition away from paper with shareholders getting excited. The has story caught a lot of attention.
According to a Bloomberg report, “Investors cheered the move, with the stock surging 16% in Tokyo on Thursday. That’s the most since 1992, and came even as the Nikkei 225 Stock Average fell 2.1%.”
Days later, Ricoh made an official statement to reassure customers that print remains at the heart of Ricoh’s strategy even though the company is planning to shift to being a digital print service company.
The statement is as below:
Since Ricoh was founded 85 years ago, print has been at the heart of our organisation and we are tremendously proud of our heritage and innovation in this space.
Globally, we continue to invest in print. Our commitment to print in the office and well beyond is evidenced in recent announcements including the preview of our ground-breaking B2 inkjet press, the launch of our GelJet devices to support homeworking, and our partnership with Zebra. We continue to invest in our market leading A3 intelligent devices (IM C Series) as well as enhancing our A4 portfolio with new product launches such as the IM C530.
Throughout our history, our business has evolved to meet changing customer needs. Particularly during the last decade, alongside our commitment to print we have substantially grown our digital services capabilities through organic growth, investment in cross and upskilling our people and through multiple acquisitions.
Today, we are proud to be a digital services company that supports and partners with customers across the globe to meet their digital transformation needs, in both print and digital services.
According to Ricoh’s five-year plan, it will seek to become a “digital services company,” and has pledged a 300 billion yen ($2.8 billion) “war chest for acquisitions, promising ‘aggressive investment and M&A’ in Europe. The firm aims to get the majority of operating profit from digital services by fiscal 2025, seizing on opportunities to help other workplaces shift online.”
The company will also spend as much as 100 billion yen on a share buyback program over the next year, and plans to retire all its treasury stock once the repurchase is complete.
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