23 January 2013
Ryobi and Mitsubishi consider alliance
HIROSHIMA, JAPAN—Mitsubishi Heavy Industries Printing & Packaging Machinery and Ryobi Limited have agreed to conduct a joint study looking at the possibility of a business alliance.

Both companies produce and sell sheetfed offset presses and, according to a release, are "facing the stiffer market situation with the shrinking demand especially in developed countries due to the recent global economic crisis."

The companies will examine establishing a joint venture company in the future, "aiming at improving competitiveness of sheetfed offset printing machinery, enhancing the scale of operations, and solidifying its management base."

Should a concrete merger of some sort follow the study, the plan is to secure a stronger presence in the global market. The release notes that market demand for printing is increasing in developing countries, and that global demand for higher specification products is expected to rise.

Ryobi was established in 1943 and reported 4,179 million yen (approximately $46,821,516) in net income in the 2012 fiscal year. Mitsubishi Heavy Industries, Paper & Packing Machinery was established in 2004. Its reported 2012 net income was 690 million yen (approximately $7,730,760).
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