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Ricoh first quarter sales increase YOY

Ricoh first quarter sales increase YOY

August 3, 2022

The company has released its consolidated results for the first quarter of fiscal year 2022.

Sales for the first quarter increased by 8.1% year-on-year (YOY), to ¥459.3 billion ($3.45 billion/ €3.38 billion). Ricoh said that growth and sales recovered moderately due to the continued impact of material shortages and COVID-19. However, the company added that sales increased mainly due to the impact of the depreciation of the yen.

In Japan, sales decreased by 4.4% as compared to the previous corresponding period. Sales in the Americas increased by 24.6% YOY. Sales of edge devices in the office printing business increased, and the office services business, including ITrelated services, performed well.

Sales in the commercial printing business also recovered. Sales in the Europe, the Middle East, and Africa increased by 13.9% as compared to the previous corresponding period.

Sales of edge devices decreased in the office printing business due to a shortage of materials, but sales of non-hardware increased, Ricoh added. The effects of acquisitions and strong sales of package led strong performance of the office services business. Sales in other regions increased by 2.8%.

Sales declined due to the impact of strict activity restrictions accompanying China’s zero-COVID policy, although the depreciation of the yen contributed to an increase of sales. As a result, sales in the overseas market increased by 16.6% as compared to the previous corresponding period.

Digital Products sales increased by 11.6% year-on-year. Although production activities were affected by a shortage of materials and lockdown in Shanghai, sales increased due to increased production of A3 MFPs and parts and supplies compared to the previous corresponding period.

Ricoh explained that while procurement costs rose due to the sharp rise in material prices, production of relatively high value-added products was increased and flexible production efforts were made including cost reduction activities through structural reforms of manufacturing.

Categories : City News

Tags : Business Financials OEM Ricoh

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