January 28, 2022
Company name: Ricoh Company, Ltd.
President and CEO: Yoshinori Yamashita
Stock code: 7752 (First Section of Tokyo Stock Exchange)
Contact: Hidetaka Matsuishi, Executive Corporate Officer and CFO
Tel. +81-50-3814-2805
Ricoh Issues Statement on Ricoh Subsidiary Sale of Property and Gain on Sale
Ricoh Company, Ltd., announces today that consolidated subsidiary Ricoh Development of California, Inc., decided on
September 7, 2021, to sell a property, as follows. Management apologizes for an inadvertent delay in disclosing this information.
1. Reason for transfer
Ricoh bolstered its return on invested capital approach to managing its business portfolio in adopting a business unit structure. This subsidiary sold the property as part of parent efforts to enhance profitability and streamline operations in the Office Printing business by consolidating sites.
2. Property details
Property and location
Land and buildings (in Tustin, California)
Transaction price
Gain on sale
Status
9.7 billion yen
8.4 billion yen
Idle
3. Overview of subsidiary
(1) Name
Ricoh Development of California, Inc.
(2) Address
1735 Satellite Blvd, Buford, GA 30518, United States of America
(3) Representative name and position
Kotaro Koide ( Chief Executive Officer)
(4) Principal business
Real Estate Holding Company
(5) Capitalization
