OKI Electric Industry Co. plans to transfer its printer business to ETRIA Co., a joint venture between Ricoh Co. and Toshiba Tec Corp., marking another consolidation in Japan’s shrinking printer market.
Under the agreement announced Thursday, OKI will move its printer development and manufacturing operations to ETRIA through a company split scheduled for October 1. The deal includes transferring OKI’s Thai manufacturing subsidiary, which generated sales of 7.47 billion baht (US$210 million) in fiscal 2024.
After the transaction, Ricoh will hold 80.7% of ETRIA, while Toshiba Tec and OKI will own 14.3% and 5% respectively. The move comes as printer makers face declining demand due to the shift toward paperless workflows, though specialized printing remains vital in manufacturing and healthcare sectors.
The consolidation reflects broader challenges in the printer industry, where companies are grappling with digital transformation and supply chain pressures. OKI’s printer division posted revenue of 36.7 billion yen (US$245 million) in fiscal 2024.
Despite the scope of the restructuring, OKI said the transfer will have no impact on its current fiscal year earnings. The company will continue its other operations in public solutions, enterprise systems and components manufacturing.
