Ricoh Toshiba JV set for July start

The joint venture between print OEMs Ricoh and Toshiba Tec will come into effect on 1 July.

0

The joint venture between print OEMs Ricoh and Toshiba Tec will come into effect on 1 July.

Last year, the companies agreed to merge their MFP (multifunction printer) manufacturing and development units, adding Toshiba Tec’s European business into the mix in August. Now, Ricoh has confirmed the final details of the JV have been agreed by both firms’ boards of directors.

The new business will be known as Etria and officially come into being on 1 July 2024. It will be headed by Katsunori Nakata, currently General Manager of Ricoh’s Office Printing division. 100 shares in the company will be issued, with 55 of these allotted to Ricoh and 45 to Toshiba Tec.

As Etria’s predecessor, Ricoh Technologies, is originally a subsidiary of Ricoh, Ricoh already owns 200 shares. This means Ricoh will own 255 shares in the new joint venture and Toshiba Tec will own 45 shares, in line with the 85%-15% ownership ratio that was announced last year.

In addition, it has been confirmed that land and buildings related to France-based Toshiba Tech Europe Imaging Systems’ manufacturing facilities, not originally included in the deal, will be transferred to Etria.

The new JV will supply products to both OEMs, but they will continue to handle the sales function individually.

Tokyo, Japan