Article: Ricoh and Hitachi Reach Basic Agreement on Ricoh's Acquisition of Hitachi Printing Solutions, Ltd.

TOKYO, March 31 /PRNewswire/ -- Ricoh Co., Ltd. (TSE: 7752 / 'Ricoh') and Hitachi, Ltd. (NYSE: HIT / TSE: 6501 / 'Hitachi') today announced that Ricoh and Hitachi have signed a basic agreement to the effect that Hitachi will transfer all its shares of Hitachi Printing Solutions, Ltd. ('Hitachi PRS'), a 100 owned subsidiary, to Ricoh. Details are as follows.

1. Reasons for the basic agreement

Ricoh is committed to strengthening its printer business, an important pillar of its growth strategy. To this end, Ricoh will strengthen product lines for the office color printer market, printers for mission-critical systems and POD, or print-on-demand, ...

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