- Leveraging strengths to create new businesses
- Case studies for the industrial market
- Case studies for new businesses
Since its earliest days, Ricoh has perfected its technological expertise while producing unique, leading-edge technologies across diverse fields, including optics and image-processing. Blending this technological expertise with new ideas and external resources, we have created new value for the world and successfully addressed the diversifying needs of customers.
In the industrial domain, new opportunities are forming that will develop into businesses. As a group, we strive to anticipate future needs and offer value that accurately matches evolving social and technological trends, while contributing solutions to social issues and customer concerns.
Leveraging strengths to create new businesses
Areas of focus in industrial business
The Ricoh Group tracks changing customer needs, which evolve as the social landscape changes, and works to build new pillars of business within the Group that draw on inherent strengths of technological expertise and a solid connection to customers. The industrial market is of special interest to us, and we have tapped this domain as a new field of pursuit where we will strive to anticipate customer needs while fully utilizing the image-processing and optics technologies we have accumulated over many years in developing such products as copiers and cameras. We are particularly keen to expand our presence in three areas: factory automation, on-board automotive devices, and security systems. We have already marked solid progress, with factory automation cameras and rewritable laser systems, and expect to broaden the scale of new businesses by 1.5 times over the next three years.
To establish new businesses with an even longer perspective into the future, we consider the changing social landscape—megatrends—and identify areas where the strengths of the Ricoh Group can be utilized, and we also set a framework for creating new businesses.
Looking ahead to the society of tomorrow, we can imagine vastly different lifestyles and value perceptions and, due to these changes, greater diversification in customer needs. At the same time, industries are increasingly keen to apply Big Data in their business strategies and are rolling out global manufacturing reforms, which herald expansion in areas where Ricoh can showcase new value.
We have identified three priority areas where inherent strengths of the Group will be an advantage in capitalizing on these major demand currents. Going forward, our strategies will center on these priority areas, and we will promote innovations that present solutions to social issues and customer concerns and underpin the establishment of new businesses.
Ricoh Group’s priority areas, based on megatrends
To create new businesses, the keys are to pinpoint a technology theme with solid business potential and to connect the right aspects of that technology to achieve reliable business results. Toward this end, Ricoh’s approach to developing new businesses is completely different from that for core, existing businesses. Broadly speaking, new business development comprises two stages: business creation and business trial. The business creation stage is primarily a time to explore ideas for potential businesses, and the business trial stage is where we articulate a plan for business growth while verifying the business model. Also, in selecting technology themes, we emphasize business potential, looking at the practicality of application, not at how excellent a particular technology may be. The people who determine the feasibility of a technology as a potential business must have the right skills and experience. Therefore, the role may be assigned outside the Ricoh Group. We set up Ricoh Innovation Bridge, a program for effectively verifying business potential, and strive to discover business opportunities with growing uncertainty and accumulated experience, and further improve expertise in business development.
RICOH THETA, a fully spherical imaging device, is the result of this approach to new business development that actually turned technology into a new business.
*RICOH THETA was not delivered through Ricoh Innovation Bridge program.