Photizo: Weaker Yen and Shrinking Revive Ricoh Profits

Research group Photizo revealed that owing to a yen weaker by 13%, Ricoh Company, Ltd. (Ricoh) is embracing a revival of revenue forecast. Despite the tough time in downsizing, the firm has been successful in its efforts.

In the last two years, Ricoh has cut off 10,000 employees, about 10% of its total workforce. The President of the company Zenji Miura said it is a painful process. Ricoh’s structural reform is to support the company’s group operating profit.

Photizo opines “Ricoh returned to profitability earlier than it expected mainly through employee cuts”. Although shareholders like to see the financial results, reducing 10,000 employees will leave work of sales and service hanging in the air. Photizo predicts Ricoh will continue its shifting to be a services-led company.