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Mixed picture in Ricoh financials

Mixed picture in Ricoh financials

July 31, 2018

The OEM has published its consolidated results for Q1 of the current fiscal year (ending June the 30th) with varied fortunes for the Japanese giant.

Whilst there was an increase in domestic sales for Ricoh, rising 3.7 percent to ¥193.6 billion ($1.73 billion/€1.47 billion) – up from ¥186.7 billion ($1.67 billion/€1.42 billion) – there was a fall in overseas sales, from ¥305.8 billion ($2.74 billion/€2.33 billion) to ¥297.3 billion ($2.66 billion/€2.27 billion); a drop of 2.8 percent.

There was also a fall in the company’s gross profit, which decreased from ¥199.9 billion ($1.79 billion/€1.52 billion) in the first three months of the last financial year, to ¥194.4 billion ($1.74 billion/€1.48 billion) in the equivalent period this year, another 2.8 percent drop.

Bucking the trend, however, operating profits rose, year-on-year, to reach ¥19.7 billion ($176.7 million/€150.5 million), up 4.1 percent from 2017’s ¥18.9 billion ($169.5 million/€144.4 million).

In Ricoh’s Office Printing segment, sales fell by 3.8 percent, from ¥284.6 billion ($2.55 billion/€2.17 billion) to ¥273.7 billion ($2.45 billion/€2.09 billion). There was also a slight dip in Office Printing’s percentage of overall sales, which now stands at 55.8 percent, compared to last year’s 57.8 percent.

Operating profit in the segment, meanwhile, fell 3.9 percent to ¥30.1 billion ($270 million/€230 million), down from ¥31.3 billion ($280.7 million/€239.2 million).

Discussing the results in this segment, the OEM explained: “Sales primarily in the overseas market decreased mainly in the Americas where Ricoh conducted optimisation of direct and indirect sales channel and of related consumable supplies in Europe, Middle East and Africa. While optimisation of sales prices focusing on profitability limited a decline in unit prices, gross profit decreased along with a decrease in sales. In addition, gain was recognised in the previous corresponding period on sales of contracts by transferring customers who were provided direct sales and services from Ricoh Group to each region’s distributors in the Americas as a part of optimisation of direct and indirect sales channel.”

 

Categories : City News

Tags : Business Financials Japan OEM Q1 Ricoh

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