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Ricoh sees recovery and sales growth

February 7, 2023

The company has posted its nine-month results for the year ending 31 March 2023. Acquisition of PFU has major impact on sales increase.

Sales in the nine months of this fiscal year were ¥1,528.6 billion ($11.6 billion/ €10.8 billion)  up 19.8%. Gross profit increased by 16.7% as compared to the previous corresponding period, to ¥538.8 billion ($4.1 billion/ €3.8 billion).

In the office printing business, Ricoh said that although production recovered compared to the previous corresponding period, the supply of products was delayed due to some material shortages and a decrease in the operation rate of plants in China. Sales of non-hardware continued to recover moderately.

In the office services business, sales increased due to the expansion of services that do not rely on ICT-based products, and the effects of acquisitions in Europe and the Americas. In addition, Ricoh said that sales increased due to the contribution of PFU Limited (hereinafter, PFU), which became a consolidated subsidiary in September 2022 and the impact of the depreciation of the yen.

In Japan, sales increased by 9.8% as compared to the previous corresponding period. Overseas, sales in the Americas increased by 36.7%. Sales of edge devices in the office printing business increased compared to the previous corresponding period due to an increase in unit sales of A3 MFPs, although some products such as A4 MFPs continued to be undersupplied.

Sales in Europe, Middle East, and Africa increased by 20.0% as compared to the previous corresponding period. Unit sales of edge devices decreased in the office printing business due to a shortage of products, but sales of non-hardware increased.

Sales in other regions increased by 15.3%, here sales increased mainly due to the depreciation of the yen, although sales stagnated due to the impact of strict activity restrictions accompanying China’s zero-COVID policy and the subsequent rapid expansion of COVID-19 caused by the policy changes.

Categories : City News

Tags : Business Financials OEM Ricoh Sales

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