Ricoh had previously forecast an operating profit of 20 billion yen, and had expected to break even for its fiscal year.
Category: Financial News
Last month, Ricoh had forecast operating profit of 20 billion yen for its fiscal year, but is now stating that its operating profit will be a loss of 160 billion yen.
Revenues for the full year 2017 were $1.5 billion, down 7 percent from 2016. The revenue decline was driven by volume and pricing declines within the company’s commercial print business and volume declines in the company’s consumer inkjet and industrial film and chemicals businesses.
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The Nikkei-Asian Review also said that Ricoh would be as well selling a logistics unit in Japan, and an “aging factory for copiers and other office equipment, as well as recording “tens of billions of yen worth of impairment losses,”and setting aside “at least ¥200 billion” for mergers and acquisitions.
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“We have now created a larger print family, which will help us address the $55 billion A3 market opportunity along with adding capabilities and revenue in A4,” said Weisler. “The integration efforts and key initiatives are on track. We are joining teams, combining our product portfolios, on boarding new partners, rationalizing SKUs, and streamlining processes.”
“We’re coming out of the gate strong in Q1, with double-digit revenue and EPS growth year over year,” said Dion Weisler, president and CEO of HP Inc.
Ricoh MAY record losses for its U.S. distributor Ikon Office Solutions.
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While demand for copiers may have slowed in developed Western markets, Komori says there will be continuing demand in emerging economies: “Demand for copiers won’t disappear soon.”
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