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Wednesday, August 27, 2008

Fallout - Ricoh Rises, Canon Falls

Ricoh Shares Advance on Purchase of Ikon; Canon Falls

Aug. 28 (Bloomberg) -- Ricoh Co., Japan's second-largest office-equipment maker, rose the most in more than five months in Tokyo trading on speculation acquiring Ikon Office Solutions Inc. will help the company take U.S. market share from Canon Inc.

Ricoh added 6.4 percent to 1,838 yen at 9:43 a.m. on the Tokyo Stock Exchange, the biggest gain since March 19. Canon lost 4.2 percent to 4,840 yen, losing the most since July 25.

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