ricoh has wanted out of anything to do with print in the worst way for years. Problem is they could n't just walk away from it and now are drastically running out of time and resources. Just too many albatrosses around its neck. If question was "Sink or Swim" 3 years ago the answer is obviously sink... only question is how the boat goes down.
https://asia.nikkei.com/Business/Companies/For-Ricoh-it-s-a-sink-or-swim-moment
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Timing of challenges noted in article and Ricoh India is ....unfortunate? Ricoh 2017-2018 annual report notes huge 129,639 million yen loss due to Ricoh India fraud and (to way lesser extent?) inventory impairment. Based on the annual reports whatever measures put in place for 2017-2020 did n't make up for Ricoh India. Article talks about bad blood from 2011 but really what got ricoh was:
1) Chasing market share in a mature industry (Ikon purchase / racing xerox to the bottom)
2) Bad governance (someone should have delved deeeep into ricoh india way before)
3) Continuous lack of innovation, (cameras, tshirt printers, garage band IT services?).
Take your pick of the most poisonous ingredients in the ricoh death pie but don't blame covid... 2020 brought a story to a quicker close but end was inevitable.
Correct, article is from 2017 (3 years ago) as per post; if the situation was drastically dire 3 years ago how does that compare to now?
That article is from 2017...
Direct operations in Canada will soon be run out of a PO Box... or just a cardboard box.
Good article. Ricoh has been around a long time and I see them going on, but in a slimmer format. Selling off or closing bulky units that require large work forces. I think they are are 100% correct that Ricoh ignored it's core business while looking to expand markets.
While Ricoh survives, it most likely won't be true for many long time employees.