Consolidated Results for the
Half year ended September 30, 2007
October 25, 2007
Ricoh Company, Ltd.
Contents
FY08/3 1H results
FY08/3 forecast
Appendix (including FY08/3 Q2 results)
* The Company bases the estimates in this presentation on
information currently available to management, which involves
risks and uncertainties that could cause actual results to differ
materially from those projected.
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
October 25, 2007
1
FY08/3 1H P/L
FY07/3
1H result
(billions of yen)
Net sales
(Japan)
(Overseas)
Total
Gross profit
Percentage of net sales
Operating income
Percentage of net sales
Income before income taxes
Percentage of net sales
Income from continuing operations
Percentage of net sales
Net income
Percentage of net sales
EPS (Yen)
Exchange rate
(Yen)
US $1
Euro 1
492.4
494.4
986.9
407.9
41.3%
73.1
7.4%
74.2
7.5%
46.5
4.7%
52.0
5.3%
71.35
115.40
145.98
FY08/3 1H
Latest('07/7)
forecast
FY08/3
1H result
Comparison
with latest
forcast
504.7
504.4
563.0
583.9
1,067.7 1,088.3
451.2
451.2
42.3%
41.5%
83.0
84.5
7.8%
7.8%
89.0
85.0
8.3%
7.8%
56.0
53.1
5.2%
4.9%
56.0
53.1
5.2%
4.9%
76.72
72.83
117.89 119.37
158.86 162.36
-0.2
+20.9
+20.6
+0.0
−
+1.5
−
-3.9
−
-2.8
−
-2.8
−
-3.89
+1.48
+3.50
Year on year Comparison
Change
Change(%)
+11.9
+89.5
+101.4
+43.3
−
+11.4
−
+10.7
−
+6.6
−
+1.1
−
+1.48
+3.97
+16.38
+2.4%
+18.1%
+10.3%
+10.6%
−
+15.6%
−
+14.5%
−
+14.2%
−
+2.1%
−
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
Excluding Forex
Impact(%)
+2.4%
+9.5%
+6.0%
October 25, 2007
2
FY08/3 1H Sales
By Category
By Area
(billions of Yen)
(billions of Yen)
Change(without forex)
1,088.3
986.9
80.5
68.2
94.4
743.6
FY07/3
1H
Change(without forex)
Total +10.3%(+6.0%)
1,088.3
986.9
86.2
77.4
Other
+7.1%(+6.0%)
97.2
Industrial Products
+13.5%(+11.4%)
226.5
Network System
Solutions
+2.9%(+2.3%)
203.5
827.3
289.1
215.7
Imaging Solutions
+11.3%(+5.9%)
Product ratio in Imaging
07/3 1H 08/3 1H
Copier 82% → 81%
Printer 12％ → 14％
FY08/3
1H
79.1
64.3
Office Solutions
+10.3%(+5.5%)
Japan
+1.1% (+1.1%)
Total +10.3%(+6.0%)
Other
+23.0%(+10.7%)
Europe
+27.6%(+15.5%)
The Americas
+6.0%(+2.5%)
Overseas
+18.1%(+9.5%)
492.4
504.4
Japan
+2.4%(+2.4%)
FY07/3
1H
FY08/3
1H
Overseas sales ratio
50.1%
53.7%
Overseas +18.1% (+9.3%)
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
October 25, 2007
3
FY08/3 1H Strategy Executions
< Office >
Renewal of Color MFP Line-up
> New 20ppm Color MFP released (Overseas)
Enter High-end Production Printing Business
> JV operation started
Low-end Products Strengthening
> New low-end CLP released (Overseas)
> New A4-size Geljet MFP released (Japan)
Aficio MP C2000
Solution Strengthening
> Solution brand “Operius” launched
Investment for printing business expansion
> Component production site establishment (China)
> Polymerized toner capacity expansion (Japan)
- Copier’s Color ratio
60%
< Industrial products >
31%
30%
< Management >
20%
10%
> Building of core operating system
> Ricoh Americas Corporation established
> Ricoh Europe Holdings established
50%
40%
34% 36%
36%
31%
29% 32%
39%
Japan
40%
22%
56%
52%
Total
50%
> Alliance with Niigata Seimitsu Co.
IPSiO GX3000SF
45%
44%
42%
34%
Overseas
17%
0%
FY 04/3 05/3 06/3 07/3
07/3
1H
08/3
1H
*by sales for machines of copier and multifunctional copiers
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
October 25, 2007
4
FY08/3 1H Income before tax y-o-y comparison
(billions of Yen)
Gross Profit items
SG&A items
Other
5.0
21.7
15.1
6.8
11.8
0.6
+10.7
14.8
FY07/3
1H
* shows profit increase and
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
shows profit decrease in this chart
Other expenses
Forex
Expenses
R&D
Forex, etc
Cost down
Sales, etc
74.2
85.0
FY08/3
1H
October 25, 2007
5
FY08/3 1H Business Segment
Office Solutions
Industrial Products
Other
OP margin
OP margin
OP margin
OP margin
OP margin
OP margin
11.8%
12.0%
1.3%
3.4%
2.4%
1.4%
924.6
1,000
250
838.0
800
200
600
150
20
100
110.8
98.7
400
100
100
50
200
50
10
50
0
0
10
2.6
1.8
0.8
0
0
FY07/3
1H
20
86.2
80.5
79.6
70.5
0
FY08/3
1H
FY07/3
1H
1.1
0
FY08/3
1H
FY07/3
1H
FY08/3
1H
Right bar: Operating income (billions of yen)
Left bar: Sales (billions of yen)
* Excluding “Corporate and Eliminations”
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
6
October 25, 2007
FY08/3 1H Geographic Segment
Japan
OP margin
OP margin
6.9%
6.6%
The Americas
769.9
750.4
600
OP margin
OP margin
4.4%
2.5%
215.9
205.2
90
40
200
400
51.6
50.5
200
0
Europe
60
30
FY07/3 1H
FY08/3 1H
OP margin
OP margin
4.2%
5.4%
0
Left bar:
Sales
(billions of Yen)
100
20
8.9
Right bar:
Operating income
(billions of Yen)
5.4
0
0
FY07/3 1H
Other
FY08/3 1H
OP margin
OP margin
7.1%
7.9%
291.0
228.5
200
40
200
40
154.7
124.5
100
15.8
20
100
9.5
8.8
0
0
FY07/3 1H
FY08/3 1H
* Excluding “Corporate
and Eliminations”
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
12.2
0
20
0
FY07/3 1H
FY08/3 1H
October 25, 2007
7
Balance Sheet as of September 30, 2007
Assets
Liabilities and Shareholders’ Investment
As of
Difｆ. from
Sep 30, 2007 Mar 31, '07
-35.6
1,164.4
(billions of yen)
Current Assets
Cash & time deposits
Trade recievables
Marketable securities
Inventries
Other current assets
Fixed Assets
Tangible fixed assets
Finance recievable
Other investments
191.3
704.0
0.2
203.3
65.5
1,135.3
261.7
442.1
431.5
As of
Difｆ. from
Sep 30, 2007 Mar 31, '07
-2.4
733.1
(billions of yen)
Current Liabilities
-65.8
Trade payables
+10.7
Short-term borrowings
+0.0
Other current liabilities
392.9
245.3
99.2
48.3
1,126.1
59.1
1,114.5
+12.9
2,299.8
+56.4
420.4
+4.8
-3.7
-8.5
+0.4
+92.0
Fixed Liabilities
-2.9
Long-term indebtedness
+6.2
Retirement benefit obligation
+88.7
Other fixed liabilities
Minority Interest
Total Shareholders' Investment
2,299.8
+9.8
+18.9
Total Liabilities
Total Assets
377.0
175.1
180.9
+56.4
Exchange rate as of September 30, 2007 :
US$ 1
= ¥ 115.43 ( - 2.62)
EURO 1 = ¥ 163.38 ( + 6.05)
Total liabilities and
shareholders' Investment
Total debt
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
+8.5
+0.1
+4.2
+10.5
+2.2
+43.6
October 25, 2007
8
FY08/3 1H Statement of Cash Flow for 6 months
(billions of yen)
Income from continuing operations
Depreciation and amortization
[ Cash profit (Net income + Depreciation and amortization) ]
Other operating activities
Net cash by operating activities
Plant and equipment
Other investing activities
Net cash by investing activities
[ Free cash flow ( oparating net cash + investing net cash ) ]
Net cash by financing activities
Effect of exchange rate
Net increase in cash and equivalents
Cash and equivalents at end of period
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
Apr-Sep, '06
46.5
42.8
[ 89.3 ]
-37.7
51.6
-38.8
-0.4
-39.2
[ 12.3 ]
1.1
2.5
16.8
203.8
Apr-Sep, ’07
53.1
46.6
[ 99.8 ]
-20.9
78.8
-39.6
-97.5
-137.1
[ -58.2 ]
-7.2
-0.0
-65.6
190.1
October 25, 2007
9
FY08/3 Performance Forecast
FY07/3
(billions of yen)
Net sales
(Japan)
(Overseas)
Total
Gross profit
Percentage of net sales
Operating income
Percentage of net sales
Income before income taxes
Percentage of net sales
Income from continuing operations
Percentage of net sales
Net income
Percentage of net sales
EPS (Yen)
Exchange rate
(Yen)
US $1
Euro 1
1,002.2
1,066.6
2,068.9
862.4
41.7%
174.3
8.4%
174.5
8.4%
106.2
5.1%
111.7
5.4%
153.10
117.02
150.08
FY08/3
Latest(’07/7)
Forecast
FY08/3
Forecast
Comparison
with latest
forcast
1,040.0 1,040.0
1,210.0 1,210.0
2,250.0 2,250.0
940.0
940.0
41.8%
41.8%
195.0
195.0
8.7%
8.7%
192.0
192.0
8.5%
8.5%
117.0
117.0
5.2%
5.2%
117.0
117.0
5.2%
5.2%
160.28 160.30
116.44 117.19
156.93 158.68
+0.0
+0.0
+0.0
+0.0
+0.0
+0.0
+0.0
+0.0
+0.02
+0.75
+1.75
Comparison with last year
Excluding Forex
Impact(%)
Change
Change(%)
+37.7
+143.3
+181.0
+77.5
+20.6
+17.4
+10.7
+5.2
+7.20
+0.17
+8.60
+3.8%
+3.8%
+13.4% +10.1%
+8.8%
+7.0%
+9.0%
+11.8%
+10.0%
+10.1%
+4.7%
-
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
October 25, 2007
10
FY08/3 Sales forecast
By Category
By Area
(billions of Yen)
(billions of Yen)
Change(without forex)
2,250.0
Total +8.8%(+7.0%)
165.4
147.0
Other
+2.7%(+2.3%)
2,068.9
161.0
133.3
158.2
Other
+19.0%(+13.0%)
595.9
Europe
+17.5%(+11.8%)
133.0
201.7
1,735.6
Industrial Products
+10.3%(+9.3%)
507.1
Network System
Solutions
+3.8%(+3.5%)
426.4
FY08/3
Forecast
455.8
1,002.2
1,040.0
Japan
+3.8%(+3.8%)
Overseas ratio
Japan
+3.7% (+3.7%)
Overseas +13.5% (+10.1%)
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
The Americas
+6.9%(+7.0%)
Overseas
+13.4%(+10.1%)
Imaging Solutions
+9.8%(+7.7%)
Office Solutions
+9.2%(+7.3%)
FY07/3
Total +8.8%(+7.0%)
2,068.9
194.3
1,580.1
Change(without forex)
2,250.0
FY07/3
FY08/3
Forecast
51.6%
53.8%
October 25, 2007
11
FY08/3 Income before tax forecast y-o-y comparison
(billions of Yen)
Gross Profit items
SG&A items
19.6
Other
13.0
11.0
34.3
3.1
Other expenses
Expenses
R&D
Forex, etc
Cost down
Sales, etc
9.6
Forex
46.9
174.5
FY07/3
* shows profit increase and
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
memo
shows profit decrease in this chart
+17.4
192.0
FY08/3
Forecast
October 25, 2007
12
Appendix : FY08/3 Q2 P/L
(billions of yen)
Net sales
(Japan)
(Overseas)
Total
Gross profit
Percentage of net sales
Operating income
Percentage of net sales
Income before income taxes
Percentage of net sales
Net income
Percentage of net sales
EPS (Yen)
Exchange rate
(Yen)
US $1
Euro 1
FY07/3
Q2 result
FY08/3 Q2
Latest('07/7)
forecast
FY08/3
Q2 result
252.0
250.2
502.3
205.3
40.9%
32.5
6.5%
35.5
7.1%
22.9
4.6%
31.43
116.26
148.16
259.9
277.6
537.5
222.4
41.4%
36.3
6.8%
35.7
6.6%
22.1
4.1%
30.34
115.00
155.00
259.7
298.5
558.2
222.4
39.9%
37.9
6.8%
31.7
5.7%
19.3
3.5%
26.45
117.98
162.00
Comparison
with latest
forcast
-0.2
+20.9
+20.6
+0.0
Year on year Comparison
Change
+7.6
+3.0%
Excluding Forex
Impact(%)
+3.0%
+48.2 +19.3% +12.5%
+55.9 +11.1%
+17.1
+8.3%
−
−
−
+1.5
Change(%)
+7.8%
+5.4 +16.7%
−
−
−
-4.0
-3.7
-10.6%
−
−
−
-2.8
-3.6
-15.8%
−
−
−
-3.89
-4.98
+2.98
+1.72
+7.00
+13.84
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
October 25, 2007
14
Appendix : FY08/3 Q2 Sales
By Category
By Area
(billions of Yen)
(billions of Yen)
Change(without forex)
558.2
502.3
42.5
33.5
44.5
41.9
56.5
55.4
370.8
FY07/3
Q2
415.2
Other
+4.8%(+3.9%)
502.3
558.2
Total +11.1%(+7.8%)
43.7
Other
+27.4%(+14.2%)
34.3
Industrial Products
+25.0%(+23.2%)
112.9
Network System
Solutions
+2.1%(+1.5%)
102.9
142.2
112.5
Imaging Solutions
+12.0%(+7.7%)
Product ratio in Imaging
06Q2 07Q2
Copier
83% → 80%
Printer
11％ → 15％
FY08/3
Q2
Change(without forex)
Total +11.1%(+7.8%)
Office Solutions
+10.7%(+6.9%)
Japan
+1.7% (+1.7%)
Overseas +18.3% (+11.4%)
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
Europe
+25.9%(+16.6%)
The Americas
+9.3%(+7.5%)
Overseas
+19.3%(+12.5%)
252.0
259.7
FY07/3
Q2
FY08/3
Q2
Japan
+3.0%(+3.0%)
Overseas sales ratio
49.8%
53.5%
October 25, 2007
15
Appendix : FY08/3 Q2 Income before tax y-o-y comparison
Gross Profit items
SG&A items
Other
3.2
8.4
4.8
3.8
3.3
5.6
9.1
- 3.7
Other expenses
Forex
* shows profit increase and
FY07/3
Q2
Expenses
R&D
Forex, etc
Cost down
Sales, etc
35.5
31.7
FY08/3
Q2
shows profit decrease in this chart
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
16
October 25, 2007
Appendix : FY08/3 Q2 Business Segment
Office Solutions
Industrial Products
Other
OP margin
OP margin
OP margin
OP margin
OP margin
OP margin
11.1%
10.6%
-1.0%
3.7%
2.9%
0.7%
471.7
426.2
400
120
300
90
60
10
60
200
47.4
34.6
50.0 60
30
100
30
0
0
FY07/3
Q2
FY08/3
Q2
Left bar: Sales (billions of yen)
10
44.5
42.5
42.9
5
30
0
0
1.5
0
-0.3
FY07/3
Q2
FY08/3
Q2
5
1.2
0.3
0
FY07/3
Q2
FY08/3
Q2
Right bar: Operating income (billions of yen)
* Excluding “Corporate and Eliminations”
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
October 25, 2007
17
Appendix : FY08/3 Q2 Geographic Segment
Japan
OP margin
OP margin
5.1%
4.1%
381.2
The Americas
OP margin
OP margin
6.7%
3.2%
376.1
112.5
103.6
60
300
100
200
19.4
100
0
Europe
20
40
15.4
FY07/3 Q2 FY08/3 Q2
OP margin
OP margin
4.3%
6.3%
20
0
Left bar:
Sales
(billions of Yen)
50
10
6.9
3.6
Right bar:
Operating income
(billions of Yen)
0
0
FY07/3 Q2
Other
FY08/3 Q2
OP margin
OP margin
6.6%
8.4%
143.2
114.1
100
20
100
9.0
50
10
50
4.9
0
* Excluding “Corporate
and Eliminations”
FY07/3 Q2 FY08/3 Q2
10
6.5
4.5
0
20
78.5
67.8
0
0
FY07/3 Q2
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
FY08/3 Q2
October 25, 2007
18
Appendix : Calculation information where the equity method applied to
Ricoh’s leasing subsidiary
Consolidated Statement of Income
Key financial Ratios
FY07/3 1H FY08/3 1H
Net sales
917.2
1,015.5
Gross profit
398.7
442.5
Operating income
65.3
77.3
Income before income taxes
67.0
78.6
Net income
52.0
53.1
(diff.)
+98.3
+43.8
+12.0
+11.6
+1.1
(billions of yen)
Return on assets
Return on equity
Equity ratio
Debt/Total assets
Debt/Equity
Total assets turnover
FY07/3 1H FY08/3 1H
3.8%
4.0%
5.3%
4.9%
55.8%
56.2%
9.6%
9.5%
17.2%
16.9%
0.52
0.52
(diff.)
+ 0.2pt
- 0.4pt
+ 0.3pt
- 0.1pt
- 0.4pt
Consolidated Balance Sheet
As of
As of
Mar. 31, 07 Sep. 30, 07
Cash and cash equivalents
Other current assets
Current assets
Finance recievable
Other fixed assets
Fixed assets
256.5
881.4
1,137.9
77.3
720.8
798.1
189.8
931.5
1,121.4
72.5
790.7
863.2
Total Assets
1,936.1
1,984.6
(diff.)
-66.7
Short-term borrowings
+50.1
Other current liabilities
-16.5 Current liabilities
-4.8
Long term-borrowings
+69.9
Other fixed liabilities
+65.1 Fixed liabilities
Minority interest
Shareholders' investment
+48.5 Total Liabilities and
Shareholders' investment
Total debt
As of
As of
Mar. 31, 07 Sep. 30, 07
89.8
520.2
610.0
99.3
142.7
242.0
13.0
1070.9
1,936.1
91.9
521.0
612.9
96.2
147.1
243.3
13.7
1114.5
1,984.6
189.2
188.2
(diff.)
+2.1
+.8
+2.9
-3.1
+4.4
+1.3
+0.7
+43.6
+48.5
-1.0
(billions of yen)
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
October 25, 2007
19
Appendix of FY08/3 1H Results (1)
Products ratio on Imaging Solutions category
(by sales)
FY07/3
Q1
74%
20%
6%
85%
9%
6%
81%
14%
6%
Copier
Japan
Printer
Other
Copier
Overseas
Printer
Other
Copier
Total
Printer
Other
Color ratio
Q2
79%
14%
7%
85%
9%
6%
83%
11%
6%
1H
76%
17%
6%
85%
9%
6%
82%
12%
6%
FY08/3
Q3
75%
19%
6%
84%
10%
5%
81%
13%
6%
Q4
75%
21%
4%
86%
9%
6%
82%
13%
5%
Full year
Q4
50%
37%
41%
30%
57%
41%
Full year
Q1
74%
20%
5%
84%
11%
5%
81%
14%
5%
76%
19%
6%
85%
9%
6%
82%
13%
6%
FY07/3
Overseas
Total
Japan
Printer
1H
75%
19%
6%
84%
12%
4%
81%
14%
5%
(by sales value of machine)
Japan
Copier
Q2
76%
18%
6%
83%
13%
4%
80%
15%
5%
Overseas
Total
Q1
51%
30%
36%
23%
53%
32%
Q2
50%
37%
41%
21%
51%
34%
1H
50%
34%
39%
22%
52%
33%
Overseas production ratio
FY07/3
1H
FY08/3
1H
70%
75%
75%
85%
Copier
LP
FY08/3
Q3
57%
38%
43%
23%
63%
40%
Q1
52%
39%
43%
25%
52%
37%
52%
36%
40%
24%
57%
37%
Q2
59%
44%
48%
22%
38%
30%
1H
56%
42%
45%
24%
44%
33%
(by units)
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
October 25, 2007
20
Appendix of FY08/3 1H Results (2)
R&D, CAPEX and Depreciation & Amortization
FY07/3
(billions of yen)
R&D
%Sales
CAPEX
Depreciation
&Amotization
Q2
31.1
6.2%
23.2
1H
56.5
5.7%
39.1
Q3
27.9
5.5%
17.6
Q4 Full year Q1
30.5 114.9 27.2
5.3% 5.6% 5.1%
28.9
85.8
17.1
Q2
34.3
6.1%
22.5
1H
61.5
5.7%
39.6
forecast
15.9
17.7
33.7
18.2
20.4
18.8
35.6
76.0
Operating profit by Business segment
FY06/3
(billions of yen)
Office
Solutions
Industrial
Products
Others
Total
include corporate
& elimination
FY08/3
FY08/3
Q1
25.3
5.2%
15.9
Sales
OP
OP Margin
Sales
OP
OP Margin
Sales
OP
OP Margin
Sales
OP
OP Margin
1,637.2
202.9
12.4%
120.6
-0.9
-0.7%
151.3
2.6
1.8%
1,909.2
148.5
7.8%
FY07/3
1,774.4
225.3
12.7%
133.3
2.9
2.1%
161.0
2.2
1.4%
2,068.9
174.3
8.4%
FY08/3
forecast
1,937.4
250.0
12.9%
147.0
4.5
3.0%
165.4
2.5
1.5%
2,250.0
195.0
8.7%
72.4
16.8
128.0
5.7%
90.0
Free cash flow
(billions of yen)
Free cash ｆlow
FY06/3
FY07/3
FY08/3
forecast
53.4
51.8
65.0
*Expenditure for the establishment of InfoPrint Solutions Company excluded
Impact of forex rates
*Intersegment sales excluded
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
Impact of forex rates per yen
On Sales
On Income before
income taxes
US$
3.2 billion yen
/ year
1.0 billion yen
/ year
EURO
3.0 billion yen
/ year
1.2 billion yen
/ year
October 25, 2007
21
Appendix : Balance Sheet Indexes
Total Assets turn over
Equity ratio
Assets turn over (per month)
Equity ratio (%)
Shareholders’ equity (billions of Yen)
Total Assets (billions of Yen)
0.93
0.95
0.95
0.96
0.97
2,243.4
2,000
2,041.1
1,884.9 1,852.7 1,953.6
0.95
0.96
2,299.8
2,097.7
1,500
42.9%
44.2%
795.1
862.9
47.0% 47.7% 48.1% 48.5%
45.0%
34.9%
1,000
1,070.9 1,008.4 1,114.5
960.2
30.0%
657.5
1,000
500
0
15.0%
0
End of
‘03/3
End of
‘04/3
End of
‘05/3
End of
‘06/3
End of
‘07/3
End of
‘06/9
0.0%
End of
‘07/9
End of
‘03/3
Inventories/Averaged cost of sales
End of
‘04/3
End of
‘05/3
End of
‘06/3
End of
‘06/9
End of
‘07/9
D/E ratio
(multiplies)
Total debt
(billions of Yen)
Debt/Equity ratio
Inventories/Averaged cost of sales (months)
End of
‘07/3
*RL : Ricoh Leasing Co. Ltd.
D/E ratio exclude RL
(multiplies)
Total debt exclude RL
(billions of Yen)
Inventories (billions of yen)
1.76
1.90
1.82
1.83
1.91
1.91
0.74
2.00
1,200
1.50
1,000
1.00
800
150
0.50
600 484.6
100
0.00
400
50
-0.50
200
0
-1.00
0
300
1.72
250
200
167.4
146.1
184.3
169.2
184.7
203.3
145.0
End of
‘04/3
End of
‘05/3
End of
‘06/3
End of
‘07/3
End of
‘06/9
End of
‘07/9
0.48
0.24
0.22
1.00
0.40
0.39
0.38
0.38
0.17
0.18
0.16
0.17
0.50
0.30
432.0
410.1
415.6
381.2
393.7
420.5
0.00
-0.50
-1.00
198.2
End of
‘03/3
0.54
193.7
192.2
189.2
160.5
173.9
188.2
End of
‘06/9
End of
‘07/9
-1.50
-2.00
End of
‘03/3
End of
‘04/3
End of
‘05/3
End of
‘06/3
End of
‘07/3
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
October 25, 2007
22
Appendix : Financial Indexes
Dividend
Financial Indexes
ROE
Consolidated Payout Ratio
( Dividend per share / EPS )
17.8%
14.0%
12.6%
20.6%(forecast)
11.2%
18.1% 18.3%
10.0%
Operating income on sales
8.4%
7.7%
14.6%
7.7%
EPS (Yen)
153.10
160.30(forecast)
6.6%
7.8%
11.0%
11.0%(forecast)
8.4%
8.7%(forecast)
8.1%
8.3%(forecast)
7.1%
111.7
117.0 (forecast)
97.0
91.7
83.1
112.64
99.79
72.5
28
14
7.9%
Income before Tax on total assets
132.33
123.63
7.5%
10.6%
18
20
33(forecast)
24
FY08/3
FY03/3 FY04/3 FY05/3 FY06/3 FY07/3 (forecast)
Net income (billions of yen)
FY08/3
FY03/3 FY04/3 FY05/3 FY06/3 FY07/3 (forecast)
Dividend per share (Yen)
(C)2007 Ricoh Company, Ltd. All Rights Reserved.
October 25, 2007
23