Print is dead? Japan’s Ricoh Co., best known as a maker of copiers, printers, faxes and other office mainstays, has joined those saying so.

With the pandemic upending workplace practices around the world, the office-equipment giant on Wednesday unveiled an ambitious shift away from paper and into the digital realm, aiming to transform into a digital-services provider.

Investors cheered the move, with the stock surging 16% in Tokyo on Thursday. That’s the most since 1992, and came even as the 225-issue Nikkei average fell 2.1%.