2 weeks Ago By Laura Dobberstein
ASIA IN BRIEF Japanese imaging device manufacturer Ricoh last week announced plans to cut 2,000. The biz described [PDF] the plan as a "Career Support Program." "The Company recognize[s] its biggest challenge is to improve profitability," states the announcement of the Program.
Ricoh is reforming its business in four ways, led by a push into office services. "Acceleration of the strategic selection and concentration of its business areas" is another, and reforming its head office is also on the agenda. "Transformation of the Office Printing business structure" is the last on the list, and has been commenced by spinning out its printer business into a joint venture with Toshiba Tec named Etria.
This "Career Support Program" will reportedly see workers from office equipment sales and maintenance teams let go, and result in a 16 billion yen ($112 million) restructuring charge. Ricoh is not alone in struggling to print money with its printers: HP recently admitted the number of printed pages it records has fallen 20 percent since the COVID-19 pandemic. Before the pandemic, analyst firm IDC had found print volumes down by 14 percent.
– Simon Sharwood Over the past decade, internet usage in Indonesia surged from 34.9 percent to 79.5 percent, bringing 221 million people in the nation online, an official from the Ministry of Communication and Informatics revealed last week.
"In 2015 there were 122 districts left behind out of a total of 514 districts in Indonesia. However, in the second period of president Joko Widodo's administration, the number of underdeveloped districts decreased to 62 districts," stated director of the Telecommunication and Information Accessibility Agency (BAKTI) Fadhilah Mathar. South Korea's media regulator, the Korea Communications Commission (KCC), last Thursday announced an investigation into online travel agency Agoda.
According to local media , the investigation focuses on Agoda's reservation and refund system – which its users find confusing. The Korea Consumer Agency received 324 requests for damage relief in connection with the platform last year. If found in violation of laws, the business could receive a fine worth one percent of its yearly revenue.
Agoda has had years of similar strife – in Korea, Australia, and elsewhere. Alibaba founder Jack Ma last week celebrated the 25th anniversary of the web giant's founding by sending a memo to employees urging them to trust market forces, reported The Wall Street Journal. "Many of Alibaba's businesses face challenges and the possibility of being surpassed, but that's to be expected as no single company can stay at the top forever in any industry," Ma reportedly wrote, before he praised competition's role in making the business stronger.
The sprawling corporation spent the last three years under monitoring and evaluation by Beijing for monopolistic practices, finally being cleared from additional requirements. On Thursday, its fintech arm, Ant Group, reportedly revealed that it was refinancing its $6.5 billion credit line to expand international operations.
According to Bloomberg , $1.5 billion of the borrowing quota will be allocated to its overseas business. Alibaba was once China's e-commerce leader, but was overtaken by Pinduoduo in 2023, according to market intelligence firm Momentum Asia.
Singapore-based superapp Grab is under investigation in the Philippines after a woman who booked a car through its services was allegedly robbed and sexually assaulted. A Land Transportation Franchising and Regulatory Board officer warned the agency could suspend Grab's operations in the nation for up to 30 days if it is found negligent, according to the Philippine News Agency (PNA) – the official newswire service of the Philippine government. Grab could also face fines and possible sanctions.
Fellow regional ride-hailing app, Indonesia's Gojek, is set to shut down operations in Vietnam this week. The app, which is the core unit of the GoTo Group, has struggled to make headway in the food delivery market, winning just three percent market share. Grab has 47 percent of the market, according to Nikkei Asia .
Meanwhile, the chief executive of troubled e-commerce platform TMON, Ryu Kwang-jin, revealed he is in merger talks and plans to resume operations next month. Ryu reportedly stated the business was in talks with two companies for the M&A deal. TMON and its sibling company WeMake Price faced a liquidity crisis that resulted in delayed payments to vendors – causing the South Korean government to create a $445 million bailout fund.
TMON was founded and is currently based in Seoul, South Korea. However, in 2021, it was acquired by Singapore-based e-commerce outfit Qoo10. Recent alliances and deals spotted by The Register across the region last week include: The university transitioned from managing its own datacenter to using Nutanix in early 2024.
The upgraded platform aims to streamline and accelerate the digital issuance process for securities. Samsung SDI expects the divestment to allow it to concentrate on materials for semiconductors, OLEDs, and batteries to enhance competitiveness and create synergies with its battery business. ®.
