Ricoh Shares Financial Report for its First Quarter

Ricoh Shares Financial Report

Ricoh announces the Q1 financial report on its website. According to the financial report figures, the Ricoh office printing section decreases in both domestic and overseas, especially Europe, the Middle East, and Africa region.

Industrial printing section increases in a quite good performance. The domestic market gains 45.4% raising in the same period YOY.

In total performance, Ricoh still gets a slight expectation on the fiscal year ending March 31, 2010.

Qualitative Information on Consolidated Financial Results for the Quarter under Review

1. Qualitative Information on Consolidated Business Results

* Overview of the First Quarter of Fiscal 2019 (April 1 – June 30, 2019)

In fiscal 2019, the final year of the 19th Mid-Term Management Plan and the second year of “RICOH Ignite”, we continue striving to

strengthen the profitability of core businesses while increasing earnings from growth areas.

In progressing toward “RICOH Take Off” from fiscal 2020, we continue to overhaul our business structure by implementing growth

strategies, rolling out measures to enhance capital returns and reforming corporate governance.

The global economy continued its recovery from a year earlier and expanded overall. Growth remained moderate in Japan and the United

States. Notwithstanding uncertainties stemming from such factors as Brexit and rising populism, growth was generally steady in Europe. The

impact of Sino-American trade friction created concerns about China, while growth in other emerging economies picked up.

During this period, the average exchange rates of Japanese yen against U.S. dollar and Euro were ¥110.07 (up ¥0.93 from the corresponding three months period) and ¥123.55 (down ¥6.59 from the corresponding three months period) respectively.

Sales for the first quarter decreased by 2.7% as compared to the previous corresponding period, to ¥477.6 billion. This decline was despite gains in the Office Services, and reflected reduced hardware and related consumables revenues, principally overseas’ unprofitable sales and a decrease in MIF (machine in the field) by reconsidering contracts to emphasize profitability in the Office Printing. Other factors in reduced sales included the adoption of equity method accounting for consolidated logistics subsidiaries whose shares we transferred and the removal of Ricoh India Limited from consolidated results. Consolidated sales would have risen 0.2% after excluding the equity method adoption, consolidation removal, and foreign exchange impacts.

For details of the fiscal report, click here.