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Ricoh, Toshiba Merge!

Ricoh and Toshiba to merge office equipment production business to create world’s largest company in this field

According to Japan’s Jiji News Agency and Nikkei Asia, Ricoh and Toshiba plan to merge their respective businesses that produce multifunction printers, copiers and other office equipment into a new company in 2024, thereby creating the world’s largest company in this field. They could announce the plan as early as May 19, the people said.

Ricoh and Toshiba

According to IDC data, in 2022, Ricoh’s share in the global A3 laser multifunction printer market will be 15.2%, about 510,000 units, second only to Canon. Toshiba Tec ranked seventh with a share of 7.2%. The combined shipments of the two companies are about 750,000 units. The deal would allow Ricoh and Toshiba to overtake Canon as market leaders in the segment by unit shipments.

The new company will reportedly take over the development and design operations of Ricoh and Toshiba subsidiary Toshiba Tec Corp, with Ricoh taking a majority stake. Both parties are expected to retain their respective sales departments.

The office equipment market, largely dominated by Japanese manufacturers, is shrinking amid the digitalization of the office and the increase in people working from home due to the COVID-19 pandemic. There are comments that Ricoh and Toshiba’s move is “holding together for warmth”.

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