Ricoh Di-C1 Manual page 339

Two-hole Punching
For the first sheet of paper, the punch motor moves the slider
plate to the front.
The punch guide forces the hole punch to move down, to punch a
hole in the paper.
The punch motor then changes direction until home position is
detected again.
For the next sheet, the punch motor moves the slider plate to the
front again. It does not turn in the opposite direction.
Slide 339
If the slider plate is moved to the rear from home position, the two-hole
punches do not move down to the paper. However, the three-hole punches
do move down, as we saw on the previous slide.
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Di-C1 Training