By Kosaku NariokaShares of Toshiba Tec and Ricoh Co. rose sharply early Friday on news that the companies were considering merging their production of office printers. Toshiba Tec shares were recently 11% higher at 4,235 yen ($30.53) and Ricoh shares were up 6.6% at Y1,123. The Toshiba Corp. unit and Ricoh said their boards were expected to discuss merging the development and manufacturing of office printers later in the day, but added that nothing had been decided so far. Ricoh plans to take a majority stake in the new joint venture, the Nikkei report said. Write to Kosaku Narioka at kosaku.narioka@wsj.com(END) Dow Jones NewswiresMay 18, 2023 22:20 ET (02:20 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal May 19, 2023 02:26 UTC