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Ricoh sales in recovery

February 4, 2021

The company has announced its consolidated financial results for the nine-month period ending 31 December 2020.

For the nine-month period, Ricoh recorded sales of ¥1,193 billion ($11.33 billion/ €9.45 billion), a decrease of 20.1% compared to the same period of the previous financial year. Sales for office printing segment for the nine-month period were ¥809.2 billion ($7.69 billion/ €6.4 billion). Ricoh said hardware earnings were down 21% year-on-year.

Ricoh said that hardware sales in its office printing segment are on recovery track, and non-hardware sales, despite bottoming in Q1, performances sluggish in North America and European markets, by December, sales returned to more than 90% of prior year levels in markets where there were recoveries, (4 out of 14 regions), with no markets in which sales were below 70% of levels of previous year.

The company said that its office printing segment has been impacted by the pandemic because MFP printing volumes declined due to office closures due to lockdowns and other pandemic related measures.

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