Profits, Office-Equipment Sales Down for Ricoh

On February 7th, Ricoh Company of Japan released financial results for the first nine months of its fiscal year, the nine months ending on December 31, 2019, and for its third quarter, also ending on December 31, 2019.

Nine-Month Period

Sales increased by 0.3 percent year-over-year to ¥1,493.8 billion, which reflected gains in the Office Services and Industrial Printer groups, in turn offsetting sales declines for office hardware and consumables.

Operating profit declined 12.3 percent year-over-year to ¥69.4 billion.

Profits decreased by 11.0 percent year-over-year to ¥86.4 billion.

Sales generated by the Office Printing group decreased by 6.0 percent year-over-year to ¥760.9 billion, and operating profit decreased by 12.5 percent to ¥78.9 billion.

Sales generated by the Office Services group increased by 17.1 percent year-over to ¥408.6 billion, and operating profit increased by 101.percent year-over-year to ¥18.9 billion.

Sales generated by the Commercial Printing group decreased by ¥1.3 percent year-over-year to ¥133.1 billion, and operating profit decreased by 10.8 percent year-over-year to ¥18.0 billion.

Sales generated by the Industrial Printing group increased by 14.0 percent to ¥17.7 billion, and the group posted an operating loss of ¥2.5 billion.

Sales generated by the Thermal Media group decreased by 5.4 percent year-over-year to ¥47.8 billion, but operating profit increased by 11.0 percent to ¥2.9 billion

Sales generated by Ricoh’s Other group decreased by 3.7 percent year-over-year to ¥125.1 billion, and operating profit decreased by 82.4 percent year-over-year to ¥2.9 billion.

Third Quarter

For the three months that ended on December 31, 2019, Ricoh reported sales of ¥499.1 billion, down 0.4 percent year-over-year; operating profit of ¥20.7 billion, down 23.6 percent year-over-year; and profits of ¥12.2 billion, down 16.3 percent year-over-year.

Forecast

For its fiscal year that ends on March 31, 2020, Ricoh is forecasting sales of ¥2,010.0 billion, the same as its previous forecast, and down 0.2 percent year-over-year.

For operating profit, it’s forecasting ¥100.0 billion, the same as its previous forecast, and up 15.2 percent year-over-year.

For profits, it’s forecasting ¥62.0 billion, up 25.2 percent, and the same as its previous forecast.

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