Ricoh Company, Ltd. (President and CEO: Akira Oyama; hereinafter “Ricoh”) and Toshiba Tec Corporation (President and CEO: Hironobu Nishikori; hereinafter “Toshiba Tec”) hereby announce that today at meetings of the Boards of Directors of both companies, the two companies resolved to conclude an agreement to set the terms and conditions for integrating businesses regarding the development and manufacturing of multifunction printers and other devices (hereinafter “MFPs”) by necessary procedures such as company split effective on a specific day between April 1, 2024 and June 30, 2024 to be separately agreed upon by the two companies (hereinafter the “Business Integration”). The Boards of Directors of both companies also resolved to conclude a shareholders agreement related to the Business Integration.
Based on these resolutions, the two companies will perform procedures such as company split with the aim of realizing a joint venture effective on a specific day between April 1, 2024 and June 30, 2024 to be separately agreed upon by the two companies, that takes on the role of MFPs' development and manufacturing with both companies as shareholders.
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