February 6, 2024

Company Name: Ricoh Company, Ltd.
President and CEO: Akira Oyama
Stock code:7752 (Prime of Tokyo Stock Exchange)
Contact: Takashi Kawaguchi, Executive Corporate Officer and CFO(Tel. +81-50-3814-2805)
Company Name: Toshiba Tec Corporation
President and CEO: Hironobu Nishikori
Stock code: 6588 (Prime of Tokyo Stock Exchange)
Contact: Akira Abe, General Manager of Corporate Communications
Division(Tel. +81-3-6830-9151)(Update on Previously Disclosed Transaction) Notice regarding the Conclusion ofthe Absorption-type Company Split Agreement with Joint Venture Company

In the “Notice regarding a Business Partnership between Ricoh Company, Ltd., and Toshiba Tec
Corporation by necessary procedures such as Company Split (Simplified Absorption-type Company Split),and the conclusion of a Business Integration Agreement and a Shareholders Agreement related to theintegration of MFPs’ development and manufacturing” released on May 19, 2023 (including subsequentchanges and developments*; hereinafter, “Previous Timely Disclosure”), Ricoh Company, Ltd. (Presidentand Chief Executive Officer: Akira Oyama; “Ricoh”) and Toshiba Tec Corporation (President and Chief
Executive Officer: Hironobu Nishikori, “Toshiba Tec”) announced their intention to proceed with procedures
such as a company split with the aim of integrating their businesses of the development and manufacturingof multifunction printers (“MFPs”) and other products (the “Business Integration”) and entering into a jointventure company which Ricoh Technologies Co., Ltd., a consolidated subsidiary of Ricoh, becomes thesuccessor company with Ricoh and Toshiba Tec as shareholders to develop and manufacture MFPs and otherproducts (hereinafter the “Joint Venture”).
In order to implement the Business Integration, Ricoh resolved at today’s Board of Directors’ meeting toenter into an absorption-type company split agreement between Ricoh and the Joint Venture (the “RicohAbsorption-type Spit Agreement”) as well as to decide items such as the company name of the Joint Venture
after the Absorption-type Split and entered into the Ricoh Absorption-type Split Agreement today. Toshiba
Tec’s Board of Directors also resolved today to enter into an absorption-type company split agreement
between Toshiba Tec and the Joint Venture (the “Toshiba Tec Absorption-type Spit Agreement” and together
with the “Ricoh Absorption-type Spit Agreement” referred to below as the “Absorption-type Split1Agreement”) and entered into the Toshiba Tec Absorption-type Split Agreement today. As a result, certain
matters that were previously undecided in the Previous Timely Disclosure have now been confirmed, andsome details have been changed, as detailed below.
Ricoh hereby announces changes to certain figures, as described below, following a detailed review of thebusiness to be transferred to the Joint Venture. Toshiba Tec also hereby announces that its Board of Directors
resolved today to change the transfer method of its French subsidiary, Toshiba Tec Europe Imaging Systems
S.A., to the Joint Venture, and in conjunction with this change, some of the figures described in the Previous
Timely Disclosure have been changed.
The item numbers herein correspond to those in the Previous Timely Disclosure, and unless otherwise
defined herein, the definitions of terms used herein are aligned with the meanings specified in the Previous
Timely Disclosure. Additionally, in the sections below, items that were previously undecided in the Previous
Timely Disclosure and have now been confirmed or changed are underlined, and items that have not beenchanged are omitted.
*Partial corrections have already been made by (i) “(Corrections) Notice Regarding Partial Corrections to the ‘Notice
regarding a Business Partnership between Ricoh Company, Ltd., and Toshiba Tec Corporation by necessary procedures
such as Company Split (Simplified Absorption-type Company Split), and the conclusion of a Business Integration
Agreement and a Shareholders Agreement related to the integration of MFP’s development and manufacturing’” releasedon July 19, 2023, (ii) partial corrections and additions have already been made to “(Progress and changes in disclosurematters) Notice regarding a Business Partnership between Ricoh Company, Ltd., and Toshiba Tec Corporation by necessary
procedures such as Company Split (Simplified Absorption-type Company Split), and the conclusion of a Business
Integration Agreement and a Shareholders Agreement related to the integration of MFP’s development and manufacturing”
as released on August 24, 2023, and (iii) partial changes to “(Second Correction) Notice Regarding Partial Corrections tothe ‘Notice regarding a Business Partnership between Ricoh Company, Ltd., and Toshiba Tec Corporation by necessary
procedures such as Company Split (Simplified Absorption-type Company Split), and the conclusion of a Business
Integration Agreement and a Shareholders Agreement related to the integration of MFPs’ development and manufacturing’”
released on November 24, 2023.

I. Items newly confirmed or decided that were previously undecided in the Previous Timely Disclosure,etc.
3. Summary of the Business Integration(2) Schedule of the Business Integration
Both companies’ Board of Directors toMay 19, 2023

approve the conclusion of the Integration
Agreement

andtheShareholders2Agreement
Conclusion of the Integration Agreement

May 19, 2023

and the Shareholders Agreement
Both companies’ Board of Directors toFebruary 6, 2024

approve the conclusion of the Absorptiontype Split Agreement
Conclusion of the Absorption-type Split

February 6, 2024

Agreement
Effective date of the Absorption-type Split

July 1, 2024

(Omitted)
4. About the Absorption-type Split and the Business Partnership(4) Details of the allotment related to the Absorption-type Split
The Joint Venture will allot and deliver 55 shares of its newly-issued common shares to Ricoh as
consideration for the Joint Venture’s assumption of rights and obligations upon the Ricoh Absorption-type
Split becoming effective and 45 shares of its newly-issued common shares to Toshiba Tec as consideration
for the assumption of rights and obligations upon the Toshiba Tec Absorption-type Split becoming effective.
5. Rationale of the allotment in connection with the Company Split(1) Basis and rationale for allocations
After discussions between the two companies, taking into account their earnings situations, future
prospects, and other factors in the Business to be split off from Ricoh and Toshiba Tec as a result of theCompany Split, the two companies have reached an agreement to make the allotment related to the Company
Split as described above. The numbers of common shares to be allotted and delivered by the Joint Venture tothe two companies are as described in 4. (4) above.
8. Status after the Absorption-type Split(2) Status of the successor company in the absorption-type split after the Absorption-type Split
Successor Company in Absorption-type split(1)Company nameETRIA CO., LTD.

(2)

Address

Yokohama-shi, Kanagawa, Japan(3)

Representative name

Katsunori Nakata, President and CEO(4)

Principal business

Development, production, and sales of office machines, industrial equipment,optical equipment, their peripheral devices and consumables, and otherproducts.

(5)

Capital stock

500 million yen3

Accounting date(6)

March 31

10．Future Outlook
The impact of the Absorption-type Split and the Business Partnership on the consolidated business resultsof both companies for the fiscal year ending March 2024 is expected to be negligible.
Ⅱ. Partial changes to the figures in the Previous Timely Disclosure
Ricoh hereby announces changes to “(2) Business results of the division to be split (FY ended March2022*)” and “(3) Items and book value of assets and liabilities to be split (as of March 31, 2022*)” of “7.
Outline of the splitting businesses” following a detailed review of the business to be transferred to the JointVenture.
Additionally, in the Previous Timely Disclosures, it was announced that the business relating to thedevelopment and production of MFPs and other products of Toshiba Tec Europe Imaging Systems S.A., aFrench subsidiary of Toshiba Tec, would be included in the scope of the Business Integration. However, theland and buildings related to Toshiba Tec Europe Imaging Systems S.A.’s manufacturing facilities were notincluded in the scope of the assets to be transferred to the Joint Venture.
Toshiba Tec’s Board of Directors today resolved to transfer the land and buildings related to Toshiba Tec
Europe Imaging Systems S.A.’s manufacturing facilities to the Joint Venture. Therefore, “(3) (Items and bookvalue of assets and liabilities to be split (as of March 31, 2022*)” of “7. Outline of the splitting businesses”
of the Previous Timely Disclosure will be changed as follows.
(Before Changes)(2) Business results of the division to be split (FY ended March 2022*)
Ricoh
Net sales

Toshiba Tec

370,393 million yen(omitted)*(Omitted)(3) Items and book value of assets and liabilities to be split (as of March 31, 2022*)
Ricoh
AssetsLiabilities

Current assets

94,345 million yen

Interest-bearing debt

33,486 million yen

Fixed assets

64,065 million yen

Other liabilities

33,615 million yen

Total

158,409 million yen

Total

67,101 million yen

Toshiba Tec
AssetsLiabilities

Current assets

22,435 million yen

Interest-bearing debt

2,469 million yen

Fixed assets

7,438 million yen

Other liabilities

15,510 million yen

4Total

29,873 million yen

Total

17,979 million yen*(Omitted)(After Changes)(2) Business results of the division to be split (FY ended March 2022*)
Ricoh
Net Sales

Toshiba Tec

373,803 million yen(omitted)*(Omitted)(3) Items and book value of assets and liabilities to be split (as of March 31, 2022*)
RicohAssets

Liabilities

Current assets

94,345 million yen

Interest-bearing debt

33,624 million yen

Fixed assets64,821 million yen

Other liabilities

33,633 million yen

Total

159,165 million yen

Total

67,257 million yen

Toshiba Tec
AssetsLiabilities

Current assets

22,435 million yen

Interest-bearing debt

2,469 million yen

Fixed assets

7,590 million yen

Other liabilities

15,510 million yen

Total

30,024 million yen

Total

17,979 million yen*(Omitted)

5