Ricoh Transitions From Paper and Shareholders Get Excited
As reported in November 2020, Japanese-based Ricoh Co.—best known as a maker of copiers, printers and faxes —has unveiled an ambitious shift away from paper and into the digital realm, aiming to transform into a digital services provider.
According to a Bloomberg report, “Investors cheered the move, with the stock surging 16% in Tokyo on Thursday. That’s the most since 1992, and came even as the Nikkei 225 Stock Average fell 2.1%.”
The COVID-19 pandemic is being blamed for forcing companies around the world to change long-held practices including downsizing offices and changing travel into video conferencing as more staff work from home. The Bloomberg report cites how the pandemic has helped propel a long-overdue shift to the digital space in Japan. “The administration of Prime Minister Yoshihide Suga [has] promoted a move away from faxes, company seals and other vestiges of physical offices.” read the rest here