Ricoh Reports Strong Financial Results, Raises Outlook
For the nine months ending December 31, 2013, Ricoh Company of Japan reported net sales of 1,611.5 billion yen, an increase of 16.2 percent versus the same period a year ago, and net income of 43.5 billion, an increase of 151.8 percent versus the same period a year ago.
Ricoh also raised its full-year financial outlook, and is now projecting net sales of 2,200 billion yen, an increase of 14.3 percent, and says the change reflects its expansion into IT services. It’s also raising its net income projection to 70.0 billion yen, an increase of 115.6 percent.
The company says that it benefited from the depreciation of the yen, as well restructuring and new products.
Within its printing business, sales of production-printing systems were up 26.9 percent for the period, while sales of office printers, MFPs, and copiers were up 13.0 percent. Sales for its Network System Solutions business, however, saw the biggest gains, with sales up 35.9 percent. Sales for Ricoh’s Managed Document Services (MDS) business were up 11 percent, while sales for Ricoh’s IT Services business were up 14 percent.
Ricoh also announced a company reorganization, under which Ricoh Japan, Ricoh Technosystems, Ricoh Business Expert, and Ricoh IT Solutions will be integrated into one company, Ricoh Japan. The move is designed to establish a one-stop business group for developed regions.