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Ricoh reports on strategy

  • overall goal is to transform its earnings structure and enhance its profitability by becoming a company based on providing digital services
    • focus on converting paper-based business processes into more efficient digital ones, with data and documents stored in the cloud and not in filing cabinets
    • includes Ricoh’s DocuWare, which provides cloud-based document-management solutions and business workflow-automation software.
  • Claims that one of its big advantages is that it already has a global customer base of print customers, as well as a global sales and services structure to serve them
    • For instance, in Europe, Ricoh has a customer base in more than 60 countries at 180,000 mainly mid-size and large companies
      • has 3,200 direct salespeople and 4,800 field engineers in Europe
      • In North America, Ricoh has a client base of approximately 1,800 on-site managed service locations, mainly in major and very large companies.
    • In Japan, Ricoh serves around 1 million business customers that are primarily small and mid-size enterprises.
  • For its fiscal-year 2022, office digital services and front-line digital services together made up 40% of Ricoh’s total sales.
    • By fiscal-year 2025, Ricoh forecasts that they will make up over 60% of total sales.
  • Office MFPs and production print will still be an important revenue source for Ricoh, but the company forecasts that these segments will contribute less revenue in the future.
  • expand its proprietary software revenue and strengthen peripheral areas
    • for its DocuWare and Axon Ivy businesses, that will entail expanding their direct-sales forces.
    • expanding Kintone (database/process-management/communication platform) overseas after deploying it in Japan and United States
      o open to acquisitions related to workflow digitization.
  • maintaining manufacturing flexibly for its key edge devices, which include MFPs, document scanners, video and audio equipment, and white boards.
  • digital printing market should experience compound annual growth rate of 8%
  • rising costs for raw materials, energy, and labor costs in offset printing should propel a shift to digital
    production printing.

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