Date: Monday October 2, 2023 04:28:24 pm
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There’s no English announcement yet as far as we can see, but Ricoh announced that Yasutomo Mori is appointed as the president of Ricoh Imaging Co. Ltd. effective Oct/01. The Japanese news release page doesn’t say anything meaningful other than that there’s an important news about executive(s),
As a result of this, Mr. Mori won’t be the top of the corporate planning division of Ricoh Industrial Solutions Business Unit any more, but he will continue to serve as the president of Ricoh Industrial Solutions BU, an executive officer of Ricoh, and the president of Ricoh Elemex Co. Ltd. which is a company specialized in precision machining. Even though Ricoh Elemex used to make wristwatches, they don’t any more. This might be Mr. Mori’s first tenure as an executive of a consumer product busness.
It seems that the outgoing president Akahane has done what he thought he had to as an ex-investment-banker specialized in restructuring businesses. Even though we don’t know what Mr. Akahane really did, we know that Ricoh Imaging made a profit after years of reported losses (Ricoh Imaging Co. Ltd: Profit of ~1.14 billion JPY for FY 2022-23) and that’s probably related to this change. we hope that something good comes out of this.
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