News Release

October 28, 2011, Tokyo-----Ricoh Company, Ltd. (President and CEO: Shiro Kondo) has established a new sales company (Ricoh Vietnam Company Limited) in Ho Chi Minh City, Vietnam on 1 November. The company is the Ricoh Group’s 11th sales company in the Asia Pacific region(*1). Responding to the needs of large-scale customers for high value-added services as well as the steady growth of the Vietnam market, and in line with globally consistent marketing strategy, Ricoh decided to strengthen its operations with direct sales on top of current strong dealer channels.

Following the rise of the BRICs, Vietnam is one of the emerging markets where big growth is expected. Economic growth continues at an average of 6% annually(*2), and in recent years there has been a conspicuous influx of foreign enterprises, including Japanese companies, into major cities. There are currently over 20 million Internet subscribers (about 25% of the population) resulting from the rapid development of the IT environment. With such rapid growth, the copier market is expected to continue to show nearly two-digit expansion(*3). Moreover, focusing on foreign enterprises, there will be a need for more advanced products and services similar to the needs of Europe, America and Japan, and this is also expected to expand the market.

So far, Ricoh has operated through local distributors to develop its business in Vietnam, focusing on government agencies and small and medium-sized enterprises. With the establishment of a sales company, the following kinds of local development will occur:

• Strengthening of sales / service education and support for sales, increased cooperation with distributors, and further enhanced sales to the small and medium-sized business sector
• Direct sales to meet the needs of large-scale local and foreign enterprises by offering high value-added products, solutions and services
• Development of additional sales channels for printers
• Expansion of the business domain to new area, such as production printing, MDS(*4), and IT services in the future.

Takahisa Nakaji, who has been appointed as Ricoh Vietnam General Director, shared his aspirations for the future, “The establishment of Ricoh Vietnam is aimed at providing timely support to and better catering to the needs of our clients on top of the main objective of expanding the sales network in Vietnam. In this rapidly changing business environment, customers are looking for products and services that offer not only quality, but also increased efficiencies with short turnaround time and prompt after-sales service. I believe Ricoh’s market share will continue to increase with our investment in the support infrastructure including recruiting talents to support the business operations.”

<Outline of New Company>
   
Name : Ricoh Vietnam Company Limited
HQ address  : Unit 3, 19 Floor, A&B Tower, 76 Le Lai Street, Ben Thanh Ward, District 1, Ho Chi Minh City
Establishment  : November 1, 2011 (registered on September 12, 2011)
Chairman : Nobuaki Majima (President of Ricoh Asia Pacific Pte Ltd.)
General Director  : Takahisa Nakaji
Capital : US$5,000,000
Business  : Sales of office equipment, supplies, support and other related products and services
Number of employees : About 30 (the first year of establishment)
 
 
 
 
*1: Not including Japan, China (mainland)and Korea.
*2: Source: International Monetary Fund, Real GDP growth rate over four years (actual result for 2008-2010 and prediction for 2011).
*3: Source: IDC
*4: MDS (Managed Document Services): Ricoh’s MDS approach is an extension and evolution of MPS, which addresses the three fundamental functions relating to the entire document management ecosystem of input, throughput, and output. Ricoh’s MDS aims to streamline core business processes by focusing on processes, people, technology and innovation to establish a foundation for continuous improvement.

Page Top