Toshiba and Ricoh plan to merge the office equipment business, and the new company aims at the first place in the industry.

CTOnews.com, May 19 (Xinhua)-- Toshiba and Ricoh plan to restructure their inter-enterprise businesses, merging their respective businesses of producing multi-function printers, photocopiers and other office equipment into a new company, which will become the largest office in the world, according to Nikkei Asia.

Foreign media said that Toshiba and Ricoh will formally announce the plan today at the earliest. The news triggered a rise in the shares of Toshiba and Ricoh. CTOnews.com data show that in the context of the rise of telecommuting and low corporate investment brought about by the global pandemic, sales of office OA devices such as consumer inkjet printers have dropped 17% year-on-year, which is one of the important reasons why the two companies are working together to keep warm.

Reported that Ricoh will get the majority of voting rights in the new combined company, and Toshiba Tec, a subsidiary of Toshiba, will be merged into the new company. But both will retain their respective sales departments and brands.

Ricoh officials responded: "it is considering integrating the development and production of multi-function devices with Toshiba. Although no decision has been made yet, we plan to discuss the matter at today's board meeting and will announce anything that should be disclosed in a timely manner."