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Thursday, January 8, 2009

Ricoh Surges 7 Percent on News of Firm North American Market and Canon (CBS) has New President

LAKE SUCCESS, N.Y., January 5, 2009 – Canon U.S.A., Inc., a leader in digital imaging, today announced that Tod Pike will become President of its subsidiary, Canon Business Solutions, Inc. (CBS), effective today.

Mr. Pike joins CBS from Canon U.S.A.’s Imaging Systems Group (ISG), where he was Senior Vice President and General Manager since May 1999. Prior to serving in this role, he served as President of Office Equipment and Executive Vice President and General Manager of the Imaging Systems Group at Canon Canada. Mr. Pike began his Canon career in 1993 as an Executive Vice President with MCS Business Machines (now part of CBS), and was promoted to President.
Today, reported by

"Ricoh Co Ltd advanced 7 percent to 1,297 yen after Credit Suisse upgraded the stock to "outperform" from "neutral" and raised its target share price to 1,400 yen, saying firmness in the North American market could counter earnings concerns about its subsidiary Ikon."

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