Notice Regarding Revisions to the Ricoh Way Corporate Philosophy

February 6, 2023

TOKYO, February 6, 2023 – Ricoh has revised its corporate philosophy, the Ricoh Way, the essential guide that serves as the basis for daily decisions and activities at the company, effective April 1, 2023.

Ricoh will roll out its 21st Mid-Term Management Strategy (MTS) from April 2023 with a new management structure. The new Ricoh Way redefines “Fulfillment through Work” as the new Mission and Vision from the current long-term vision for 2036, Ricoh's centennial anniversary. The revised Mission and Vision statement is as follows: “At Ricoh, we empower individuals to find Fulfillment through Work by understanding and transforming how people work so we can unleash their potential and creativity to realize a sustainable future.” This statement contains three elements: Ricoh's Mission, its Vision, and what Ricoh envisions as “Fulfillment through Work.”

Since its founding, Ricoh has supported and evolved how work is performed in society. Each employee working to their utmost can find fulfillment through work and create value that enables customers to do likewise. Expanding such a cycle of fulfillment empowers Ricoh to continue to help build a sustainable society that provides fulfilling work and economic growth.

Background

Kiyoshi Ichimura, the founder of Ricoh, established the “Spirit of Three Loves” as the company's founding principles in 1946. Based on this spirit, our Mission, Vision, and Values were formulated as the Ricoh Way. The Ricoh Way serves as the foundation for management and business activities in the Ricoh Group. It is a common way of thinking and a code of conduct shared by all employees. By providing products and services that are closely aligned with customers, Ricoh has continuously strived to deliver value to them. In 2020, Ricoh unveiled “Fulfillment through Work,” a long-term vision for 2036, and to achieve it, the company has declared that it will transform the way customers work through digital services.

With drastic changes taking place in the business environment, Ricoh's work and that of its customers is evolving. With the start of the new MTS, the company has redefined the Ricoh Way by reevaluating what it values most, the direction it needs to take, and the mission and vision to which it aspires.

Today is the founding day of Riken Kankoshi Co., Ltd., the predecessor to today's Ricoh Group, that was founded on February 6, 1936. Since the current president Yoshinori Yamashita's appointment in April 2017, this day has been celebrated annually as Foundation Day. Interactive events are held as an opportunity for all Ricoh Group employees to return to the founding principles and also look ahead to the future. Now in its sixth year, this year's Foundation Day theme is “Fulfillment through Work,” which is directly linked to the new Ricoh Way. The Foundation Day 2023 Global Live Event will feature various segments, such as executives reciting personal experiences, a compilation video of employees sharing examples of fulfillment through work in their day-to-day jobs, and a trivia game show based on Ricoh's history and culture.

| About Ricoh |

Ricoh is empowering digital workplaces using innovative technologies and services that enable individuals to work smarter from anywhere.

With cultivated knowledge and organizational capabilities nurtured over its 85-year history, Ricoh is a leading provider of digital services, information management, and print and imaging solutions designed to support digital transformation and optimize business performance.

Headquartered in Tokyo, Ricoh Group has major operations throughout the world and its products and services now reach customers in approximately 200 countries and regions. In the financial year ended March 2022, Ricoh Group had worldwide sales of 1,758 billion yen (approx. 14.5 billion USD).

For further information, please visit www.ricoh.com

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