Hiro Ueda of Stramaglio Consulting first brought this news to our attention.
According to an article from Nippon.com, Ricoh Co. and Toshiba Corp. are planning to merge their operations in manufacturing multifunction printers, copy machines, and production print equipment into a new company in 2024. The decision comes as the office equipment market, primarily dominated by Japanese manufacturers, is facing a decline due to digitalization and the COVID-19 pandemic, which has increased remote work and prompted a shift towards paperless operations.
The plan is expected to be announced by Ricoh and Toshiba as early as Friday, and the newly formed company will also assume the development and design operations of Ricoh and Toshiba subsidiary Toshiba Tec Corp. It is anticipated that the two companies will continue to maintain their respective sales divisions. (Source: Nippon.com)
SOURCE Industry Analysts Inc.