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Ricoh Begins Consolidation With Lanier

Wednesday, June 14, 2006

Press release from the issuing company

WEST CALDWELL, N.J., June 13 -- Ricoh Corporation announced today it has begun the process of consolidating the back office operations of Ricoh U.S., a division of Ricoh Corporation and Lanier Worldwide, Inc. in anticipation of a future consolidation of those entities. The consolidation begins with the back-office and revenue support functions and takes place in two distinct areas, a corporate unit and a business unit. "These changes are being made now to prepare Ricoh for the future. Having just completed our most successful year ever, in which we saw revenues grow by more than eight percent to $3 billion, we are making these changes from a position of strength in preparing for the future," said Sam Ichioka, Chairman and CEO of Ricoh Corporation. "The goal of these changes is to drive revenue growth, improve efficiency and customer satisfaction and strengthen Ricoh's position as a leader in the document solutions marketplace by leveraging the diverse skills and strengthens of Ricoh and Lanier," Ichioka added. The new business unit will continue to be known as Ricoh U.S., and Nori Goto, currently President and CEO of Lanier has been appointed Chief Executive Officer. Additionally, Tom Salierno, currently President of Ricoh U.S. has been appointed Chief Operating Officer of the new business unit. "At this time, existing relationships with dealers and direct customers will remain unchanged since both Mr. Goto and Mr. Salierno will retain responsibility for the existing Lanier and Ricoh U.S. field sales and service teams. We will continue to market and support our four brands - Ricoh, Gestetner, Lanier, and Savin - in addition to the IKON channel," Ichioka added. Additionally, Mr. Goto has been appointed Vice Chairman of Ricoh Corporation reporting to Sam Ichioka. Both Mr. Goto and Mr. Salierno will retain their positions on the Board of Directors of Ricoh Corporation, and will also remain as members of the Corporate Officer Committee of parent company Ricoh Company, Ltd. Ricoh Corporation will continue to be headquartered in West Caldwell, NJ. The Ricoh U.S. business unit will maintain two locations, West Caldwell and Atlanta. "With these changes, Ricoh will be better able to meet the challenges of the future and the demands of our customers," said Ichioka. "These changes do not affect our relationships with our business partners and will only affect operations in the United States," Ichioka added.




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