Financial Highlights /Appendix

January 30, 2006
QUARTERLY REPORT
Third Quarter Ended December 31, 2005
(Results for the Period from October 1, 2005 to December 31, 2005)
Performance Outline (Consolidated)
(1) Three Months Ended December 31, 2005 and 2004
Three months ended
December 31, 2005
(Billions of yen)
Three months ended
Change
December 31, 2004
Domestic sales
Overseas sales
Net sales
Gross profit
Operating income
Income before income taxes
Net income
230.8
244.8
475.7
201.1
37.0
38.7
23.0
231.3
212.4
443.7
192.1
38.7
34.6
22.2
-0.2%
15.3%
7.2%
4.7%
-4.2%
11.7%
3.5%
Exchange rate (Yen/US$)
Exchange rate (Yen/EURO)
117.24
139.41
106.01
137.16
11.23
2.25
Net income per share (yen)
31.34
30.08
1.26
21.2
17.6
27.2
20.5
16.9
26.1
0.7
0.6
1.0
Capital expenditures
Depreciation for tangible fixed assets
R&D expenditures
(2) Nine Months Ended December 31, 2005, 2004 and Year Ending March 31, 2006
Nine months ended
December 31, 2005
Nine months ended
December 31, 2004
(Results)
(Results)
Change
(Billions of yen)
Year ending
March 31, 2006 Change
(Forecast)
Domestic sales
Overseas sales
Net sales
Gross profit
Operating income
Income before income taxes
Net income
711.8
686.9
1,398.7
589.4
103.9
108.1
65.8
700.4
619.3
1,319.8
555.9
96.4
94.7
58.0
1.6%
10.9%
6.0%
6.0%
7.8%
14.1%
13.5%
990.0
920.0
1,910.0
802.0
153.0
157.5
97.0
1.7%
9.4%
5.3%
6.3%
12.9%
16.3%
16.7%
Exchange rate (Yen/US$)
Exchange rate (Yen/EURO)
112.04
136.92
108.55
134.60
3.49
2.32
111.52
136.44
3.94
1.19
Net income per share (yen)
89.74
78.56
11.18
132.10
19.46
1,990.8
929.5
397.4
1,899.8
841.9
446.4
90.9
87.5
-49.0
-
-
46.7
44.3
2.4
-
-
1,265.83
1,139.87
125.96
-
-
93.5
-91.2
-32.0
154.8
74.3
-90.5
-22.9
168.1
19.2
-0.6
-9.1
-13.3
-
-
79.4
48.7
82.1
58.7
48.0
79.6
20.6
0.7
2.5
110.0
67.0
116.0
25.2
0.2
5.5
Total assets
Shareholders' equity
Interest-bearing debt
Equity ratio (%)
Shareholders' equity per share (yen)
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash and cash equivalents at end of period
Capital expenditures
Depreciation for tangible fixed assets
R&D expenditures
Ricoh Company, Ltd.
* Ricoh bases the forecast estimates for the year ending March 31, 2006 above upon information currently available to management, which
involves risks and uncertainties that could cause actual results to differ materially from those projected.
1
Performance
*Overview
The Ricoh groups' consolidated net sales for the third quarter of fiscal 2006 (the three months period from October 1 to
December 31, 2005) increased by 7.2% as compared to the previous corresponding period, to ¥475.7 billion. During this
quarter, the average yen exchange rates were ¥117.24 against the U.S. dollar (down ¥11.23) and ¥139.41 against the Euro
(down ¥2.25). Net sales would increase by 4.2% excluding impact of such foreign currency exchange fluctuations.
As for Japan, net sales of product categories such as PPCs (plain paper copiers), MFPs (multifunctional printers) and laser
printers and net sales of solution business such as support service increased. Moreover, Industry Business and Other
Business achieved steady sales growth. On the other hand, net sales of stand-alone products, and personal computers and PC
servers decreased. As a result, domestic sales decreased by 0.2% as compared to the previous corresponding period.
As for overseas, net sales of digital PPCs increased in the Americas and China. Net sales of MFPs and laser printers
increased in each region. Net sales increased by 25.5% (13.4% excluding exchange fluctuation impact) in the Americas,
7.0% (5.0%) in Europe and 18.7% (11.9%) in Other area such as China and Asia. As a result for overseas, net sales
increased by 15.3% as compared to the previous corresponding period and would increase by 9.0%, excluding impact of
currency exchange fluctuations.
Gross profit increased by 4.7% due primarily to increased sales in the Imaging Solution as our core business such as digital
PPCs, MFPs and laser printers.
As for operating income, it decreased by 4.2% as compared to the previous corresponding period, to ¥37.0 billion due
primarily to an increase of selling, general and administrative expenses that consists of R&D expenses (increased ¥1.0
billion, 5.7% of net sales), the reorganization of domestic bases and integration of group companies in Japan and overseas.
A gain from foreign currency exchange was included in the other (income) expenses. As a result, income before income
taxes increased by 11.7% as compared to the previous corresponding period, to ¥38.7 billion.
As for provision for income taxes, effective tax rate during this quarter raised temporarily due to the recognition of deferred
income tax accompanied with integration of group companies. A decrease in minority interests in earnings of subsidiaries
and equity in earnings of affiliates were due to decreased income of subsidiaries and affiliates.
As a result, net income increased by 3.5% as compared to the previous corresponding period, to ¥23.0 billion.
2
*Conditions by Product Line
Office Solution Business (Sales up 7.4% to ¥407.9 billion)
Net sales in the Imaging Solution as our core business increased as compared to the previous corresponding period due primarily to
a continuously sales increase of color PPCs, MFPs and laser printers in Japan and overseas. On the other hand, net sales in the
Network System Solution decreased due primarily to a decrease in sales of personal computers and PC servers. As a result, net
sales in the Office Solution Business increased by 7.4% to ¥407.9 billion.
Imaging Solution (Sales up 8.6% to ¥367.2 billion)
- Although domestic sales of digital PPCs decreased due primarily to a shift in customer demands to MFPs from stand-alone
products, overseas sales of digital PPCs continued performing well.
- Color PPCs increased by introducing a new series of products to the market in responding to an increase of customer
demands.
- In response to customer demands for high speed, networking and coloration, sales of MFPs continued to increase by offering
new product lineups in Japan and overseas.
MFPs:
Imagio Neo 250, Imagio Neo 453 in Japan
Aficio 2020/2020D series overseas
Color MFPs: Imagio Neo C246 in Japan
Aficio 3260C overseas
- Sales of laser printers continued to increase.
- As a result, sales in this category increased by 8.6%.
Network System Solution (Sales down 2.6% to ¥40.7 billion)
- Net sales in this category decreased due primarily to a decline in sales of personal computers and PC servers as compared to
the previous corresponding period, although net sales of solution business such as support service increased.
Operating income in this segment decreased by 6.2% as compared to the previous corresponding period, to ¥51.3 billion. Despite
the profit effect of increased sales and new product offering, it was offset by R&D expenses and costs incurred by the
reorganization of domestic bases and integration of group companies.
Industry Business (Sales up 13.9% to ¥29.7 billion)
Net sales in the Industry Business increased by 13.9% as compared to the previous corresponding period, to ¥29.7 billion. Despite
a decrease in demand of optical equipments business, sales in thermal business and electronic component business increased, and
semiconductor business also increased its sales as compared to the previous corresponding period. However, the Industry Business
resulted losses of ¥0.7 billion in operating income due primarily to countermeasures to the market of measuring equipments
business.
Other Business (Sales up 0.8% to ¥38.0 billion)
Net sales in the Other Business increased by 0.8% as compared to the previous corresponding period, to ¥38.0 billion. Despite
decreased sales of optical discs business in overseas and sales of non-core business subsidiary, financing and logistics businesses
performed well and contributed in profits.
As a result, operating income in this segment increased to ¥2.4 billion.
Note: Effective from the year ending March 31, 2006, our business segment is changed into three categories such as "Office
Solution", "Industry" and "Other".
*Cash Flows (Nine months ended December 31, 2005)
Net cash provided by operating activities increased ¥19.2 billion as compared to the previous corresponding period, to ¥93.5
billion. It was due mainly to the fact that net income and depreciation increased and trade receivables were collected, despite a
decrease in trade payables and increase in finance receivables.
Net cash used in investing activities increased ¥0.6 billion to ¥91.2 billion, due to capital expenditure on research and development
facilities and new plants.
As a result, free cash flows generated by operating and investing activities increased ¥18.5 billion as compared to the previous
corresponding period, to ¥2.2 billion.
Net cash used in financing activities amounted to ¥32.0 billion due primarily to the repayment of interest-bearing debt and
dividend payments.
As a result, cash and cash equivalents at the end of this third quarter decreased by ¥32.0 billion as compared to the end of the
preceding fiscal year, to ¥154.8 billion.
3
*Forecast for the entire fiscal year
As for consolidated operating results forecast for the fiscal year ending March 31, 2006, we have revised our sales forecast as
announced in October 2005, up to ¥1,910.0 billion in view of increased sales for nine months ended December 31, 2005.
Assumed foreign exchange rates for the fourth quarter of ¥110.00 to the U.S. dollar and ¥135.00 to the Euro have been
unchanged.
As for income, we revised downward our forecast to operating income of ¥153.0 billion and income before income taxes of ¥
157.5 billion, from ¥160.0 billion and ¥160.0 billion of which we announced in October 2005, respectively. It is due primarily
to the activities of which include production and sales promotion for new core products in the Imaging Solutions in the second
half of this fiscal year, additional spending for the integration of domestic bases and group companies, and building of core
operating system.
Net income forecast of ¥97.0 billion has been unchanged.
Our performance forecasts for fiscal 2006 are as follows:
Exchange rate assumptions for the fiscal year ending March 31, 2006
US$ 1 = ¥111.52 (¥107.58 in previous fiscal year)
EURO 1 = ¥136.44 (¥135.25 in previous fiscal year)
(Billions of yen)
Domestic sales
Overseas sales
Net sales
Gross profit
Operating income
Income before income taxes
Net income
Year ending
March 31, 2006
(Forecast)
990.0
920.0
1,910.0
802.0
153.0
157.5
97.0
Year ended
March 31, 2005
(Results)
972.9
841.1
1,814.1
754.5
135.5
135.3
83.1
Change
1.7%
9.4%
5.3%
6.3%
12.9%
16.3%
16.7%
* Ricoh bases the forecast estimates for the year ending March 31, 2006 above upon information currently available to
management, which involves risks and uncertainties that could cause actual results to differ materially from those projected.
4
Ricoh Company, Ltd. and Consolidated Subsidiaries
Financial Highlights for the Third Quarter Ended December 31, 2005 (U.S. GAAP Financial Information)
1. Items Relating to Third Quarter Financial Statements
(1) No change in accounting method has been made.
(2) Change relating to the scale of consolidation and the application of the equity method:
Consolidated subsidiaries: 2 additions; 13 removals
Companies accounted for by the equity method: No change
2. Results for the Period from October 1, 2005 to December 31, 2005
(1) Operating Results
Three months ended
Three months ended
December 31, 2005
December 31, 2004
Net sales
475,770
443,799
(% change from the previous corresponding period)
7.2
5.4
Operating income
37,086
38,709
(% change from the previous corresponding period)
-4.2
6.9
Income before income taxes
38,707
34,661
(% change from the previous corresponding period)
11.7
4.2
Net income
23,000
22,223
(% change from the previous corresponding period)
3.5
13.0
Net income per share-basic (yen)
31.34
30.08
Net income per share-diluted (yen)
Note: Equity in earnings of affiliates: ¥762 million (¥1,532 million in previous corresponding period)
(2) Financial Position
Total assets
Shareholders' equity
Equity ratio (%)
Equity per share (yen)
December 31, 2005
1,990,802
929,508
46.7
1,265.83
December 31, 2004
1,899,898
841,998
44.3
1,139.87
(Millions of yen)
March 31, 2005
1,953,669
862,998
44.2
1,175.67
Nine months ended
December 31, 2005
93,524
-91,252
-32,063
154,840
Nine months ended
December 31, 2004
74,318
-90,576
-22,949
168,173
(Millions of yen)
Year ended
March 31, 2005
132,780
-96,198
-56,439
186,857
Cash Flows
Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Cash and cash equivalents at end of period
(Millions of yen)
Year ended
March 31, 2005
1,814,108
1.9
135,506
-9.7
135,383
-5.4
83,143
-9.4
112.64
-
3. Forecast of Operating Results from April 1, 2005 to March 31, 2006
Net sales
Operating income
Income before income taxes
Net income
Note: Net income per share (Consolidated) ¥132.10
(Millions of yen)
1,910,000
153,000
157,500
97,000
In accordance with Japanese regulations, Ricoh has issued forecast for its financial results for the fiscal year ending March 31, 2006.
These forecast are forward-looking statements based on a number of assumptions and beliefs in light of the information currently
available to management and subject to significant risks and uncertainties.
5
Consolidated Performance
1. Consolidated Statements of Income
(Three months ended December 31, 2005 and 2004)
Net sales
Cost of sales
Percentage of net sales (%)
Gross Profit
Percentage of net sales (%)
Selling, general and administrative expenses
Percentage of net sales (%)
Operating income
Percentage of net sales (%)
Other (income) expense
Interest and dividend income
Percentage of net sales (%)
Interest expense
Percentage of net sales (%)
Other, net
Percentage of net sales (%)
Income before income taxes,
equity income and minority interests
Percentage of net sales (%)
Provision for income taxes
Percentage of net sales (%)
Minority interests in earnings of subsidiaries
Percentage of net sales (%)
Equity in earnings of affiliates
Percentage of net sales (%)
Net income
Percentage of net sales (%)
Reference : Exchange rate
US$ 1
EURO 1
(Millions of yen)
Three months ended Three months ended
December 31, 2005
December 31, 2004
475,770
443,799
274,616
251,696
56.7
57.7
201,154
192,103
42.3
43.3
164,068
153,394
34.5
34.6
37,086
38,709
7.8
8.7
886
0.2
1,450
0.3
-2,185
-0.4
358
0.1
1,276
0.3
3,130
0.7
38,707
8.1
15,470
3.3
999
0.2
762
0.2
23,000
4.8
34,661
7.8
12,500
2.8
1,470
0.3
1,532
0.3
22,223
5.0
¥117.24
¥139.41
¥106.01
¥137.16
(Nine months ended December 31, 2005 and 2004 and Year ended March 31, 2005)
Nine months ended
Nine months ended
December 31, 2005
December 31, 2004
Net sales
1,398,790
1,319,802
Cost of sales
809,383
763,819
Percentage of net sales (%)
57.9
57.9
Gross Profit
589,407
555,983
Percentage of net sales (%)
42.1
42.1
Selling, general and administrative expenses
485,414
459,516
34.8
Percentage of net sales (%)
34.7
Operating income
103,993
96,467
Percentage of net sales (%)
7.4
7.3
Other (income) expense
Interest and dividend income
2,270
1,431
Percentage of net sales (%)
0.2
0.1
Interest expense
3,645
3,592
Percentage of net sales (%)
0.3
0.3
Other, net
-5,496
-419
Percentage of net sales (%)
-0.4
-0.1
Income before income taxes,
equity income and minority interests
108,114
94,725
7.2
Percentage of net sales (%)
7.7
Provision for income taxes
40,255
36,279
Percentage of net sales (%)
2.8
2.7
Minority interests in earnings of subsidiaries
3,689
3,368
Percentage of net sales (%)
0.3
0.3
Equity in earnings of affiliates
1,697
2,966
Percentage of net sales (%)
0.1
0.2
Net income
65,867
58,044
Percentage of net sales (%)
4.7
4.4
Reference : Exchange rate
US$ 1
EURO 1
¥112.04
¥136.92
6
¥108.55
¥134.60
Change
31,971
22,920
%
7.2
9.1
9,051
4.7
10,674
7.0
-1,623
-4.2
528
147.5
174
13.6
-5,315
-
4,046
11.7
2,970
23.8
-471
-32.0
-770
-50.3
777
3.5
Change
78,988
45,564
33,424
25,898
7,526
(Millions of yen)
Year ended
March 31, 2005
%
6.0
1,814,108
6.0
1,059,531
58.4
6.0
754,577
41.6
5.6
619,071
34.1
7.8
135,506
7.5
839
58.6
53
1.5
-5,077
-
13,389
14.1
3,976
11.0
321
9.5
-1,269
-42.8
7,823
13.5
2,240
0.1
4,684
0.3
-2,321
-0.2
135,383
7.5
50,634
2.8
4,726
0.3
3,120
0.2
83,143
4.6
¥107.58
¥135.25
2-1. Consolidated Sales by Product Category
(Three months ended December 31, 2005 and 2004)
Three months ended
Three months ended
December 31, 2005
December 31, 2004
<Office Solution Business>
Imaging Solution Business
367,207
338,074
Percentage of net sales (%)
77.2
76.2
Network System Solution Business
40,779
41,852
Percentage of net sales (%)
8.6
9.4
Total Office Solution Business
407,986
379,926
Percentage of net sales (%)
85.8
85.6
<Industry Business>
Industry Business
29,715
26,091
Percentage of net sales (%)
6.2
5.9
<Other Business>
Other Business
38,069
37,782
Percentage of net sales (%)
8.0
8.5
Grand Total
475,770
443,799
Percentage of net sales (%)
100.0
100.0
Reference : Exchange rate
US$ 1
EURO 1
¥117.24
¥139.41
Change
%
29,133
8.6
-1,073
-2.6
28,060
7.4
3,624
13.9
287
0.8
31,971
7.2
¥106.01
¥137.16
(Nine months ended December 31, 2005 and 2004 and Year ended March 31, 2005)
Nine months ended
Nine months ended
December 31, 2005
December 31, 2004
<Office Solution Business>
Imaging Solution Business
1,060,337
977,130
Percentage of net sales (%)
75.8
74.0
Network System Solution Business
133,930
137,458
Percentage of net sales (%)
9.6
10.5
Total Office Solution Business
1,194,267
1,114,588
Percentage of net sales (%)
85.4
84.5
<Industry Business>
Industry Business
88,174
84,851
Percentage of net sales (%)
6.3
6.4
<Other Business>
Other Business
116,349
120,363
Percentage of net sales (%)
8.3
9.1
Grand Total
1,398,790
1,319,802
Percentage of net sales (%)
100.0
100.0
Reference : Exchange rate
US$ 1
EURO 1
(Millions of yen)
¥112.04
¥136.92
Change
(Millions of yen)
Year ended
March 31, 2005
%
83,207
8.5
-3,528
-2.6
79,679
7.1
3,323
3.9
119,408
6.6
-4,014
-3.3
78,988
6.0
163,272
9.0
1,814,108
100.0
¥108.55
¥134.60
Note: Effective from the year ending March 31, 2006, our business segment is changed into three categories such as "Office Solution", "Industry" and
"Other". Accordingly, information for the previous corresponding period has been reclassified to conform with the current classification.
Each category includes the following product line:
Imaging Solution Business
Network System Solution Business
Industry Business
Other Business
Digital PPCs, color PPCs, digital duplicators, facsimile machines, analog PPCs, diazo copiers, scanners,
MFPs(multifunctional printers), laser printers and software
Personal computers, PC servers, network systems and network related software
Thermal media, optical equipments, semiconductors, electronic component and measuring equipments
Optical discs and digital camera
7
1,332,299
73.4
199,129
11.0
1,531,428
84.4
¥107.58
¥135.25
2-2. Consolidated Sales by Geographic Area
(Three months ended December 31, 2005 and 2004)
Three months ended
December 31, 2005
<Domestic>
230,885
Percentage of net sales (%)
48.5
<Overseas>
244,885
Percentage of net sales (%)
51.5
The Americas
98,176
Percentage of net sales (%)
20.6
Europe
115,109
Percentage of net sales (%)
24.2
Other
31,600
Percentage of net sales (%)
6.7
Grand Total
475,770
Percentage of net sales (%)
100.0
Reference : Exchange rate
US$ 1
EURO 1
(Millions of yen)
Three months ended
December 31, 2004
231,321
52.1
212,478
47.9
78,246
17.6
107,610
24.2
26,622
6.1
443,799
100.0
¥117.24
¥139.41
%
-0.2
32,407
15.3
19,930
25.5
7,499
7.0
4,978
18.7
31,971
7.2
¥106.01
¥137.16
(Nine months ended December 31, 2005 and 2004 and Year ended March 31, 2005)
Nine months ended
Nine months ended
December 31, 2005
December 31, 2004
<Domestic>
711,802
700,497
Percentage of net sales (%)
50.9
53.1
<Overseas>
686,988
619,305
Percentage of net sales (%)
49.1
46.9
The Americas
282,091
239,576
Percentage of net sales (%)
20.2
18.2
Europe
316,508
300,597
Percentage of net sales (%)
22.6
22.8
Other
88,389
79,132
Percentage of net sales (%)
6.3
5.9
Grand Total
1,398,790
1,319,802
Percentage of net sales (%)
100.0
100.0
Reference : Exchange rate
US$ 1
EURO 1
Change
-436
¥112.04
¥136.92
¥108.55
¥134.60
8
Change
11,305
%
1.6
67,683
10.9
42,515
17.7
15,911
5.3
9,257
11.7
78,988
6.0
(Millions of yen)
Year ended
March 31, 2005
972,975
53.6
841,133
46.4
325,597
17.9
408,906
22.5
106,630
6.0
1,814,108
100.0
¥107.58
¥135.25
3. Consolidated Balance Sheets
(December 31, 2005 and March 31, 2005)
Assets
December 31, 2005
Current Assets
Cash and time deposits
Trade receivables
Marketable securities
Inventories
Other current assets
Total Current Assets
Fixed Assets
Tangible fixed assets
Finance receivables
Other Investments
Total Fixed Assets
Total Assets
Note:
Contents of cash and time deposits:
Cash and cash equivalents
Time deposits
March 31, 2005
156,552
622,651
159
171,703
56,536
1,007,601
188,311
620,568
138
167,365
53,365
1,029,747
-31,759
2,083
21
4,338
3,171
-22,146
264,192
415,063
303,946
983,201
1,990,802
247,410
391,947
284,565
923,922
1,953,669
16,782
23,116
19,381
59,279
37,133
154,840
1,712
186,857
1,454
Liabilities and Shareholders’ Investment
December 31, 2005
Current Liabilities
Trade payables
Short-term borrowings
Other current liabilities
Total Current Liabilities
Fixed Liabilities
Long-term indebtedness
Accrued pension and severance costs
Other fixed liabilities
Total Fixed Liabilities
Total Liabilities
Minority Interest
Shareholders’ Investment
Common stock
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income (loss)
Treasury stock
Total Shareholders’ Investment
Total Liabilities and Shareholders’ Investment
Note: Other comprehensive income;
Net unrealized holding gains on available-for-sale securities
Pension liability adjustments
Net unrealized gains (losses) on derivative instruments
Cumulative translation adjustments
Reference: Exchange rate
US$ 1
EURO 1
March 31, 2005
(Millions of yen)
Change
311,927
158,703
154,892
625,522
336,499
183,518
151,497
671,514
-24,572
-24,815
3,395
-45,992
238,745
95,503
48,776
383,024
1,008,546
52,748
226,567
92,672
48,767
368,006
1,039,520
51,151
12,178
2,831
9
15,018
-30,974
1,597
135,364
186,450
634,204
-5,616
-20,894
929,508
1,990,802
135,364
186,551
584,515
-21,963
-21,469
862,998
1,953,669
-101
49,689
16,347
575
66,510
37,133
7,855
-13,953
67
415
4,791
-14,652
117
-12,219
3,064
699
-50
12,634
December 31, 2005
¥118.07
¥139.83
9
(Millions of yen)
Change
March 31, 2005
¥107.39
¥138.87
4. Consolidated Statements of Cash Flows
(Nine months ended December 31, 2005 and 2004 and Year ended March 31, 2005)
Nine months ended Nine months ended
December 31, 2005 December 31, 2004
I. Cash Flows from Operating Activities:
1. Net income
65,867
58,044
2. Adjustments to reconcile net income to net cash
provided by operating activities—
Depreciation and amortization
62,275
57,498
Equity in earnings of affiliates, net of dividends received
-872
-2,163
Deferred income taxes
-3,149
5,731
Losses on disposal and sales of tangible fixed assets
1,794
1,600
Changes in assets and liabilities, net of effects from acquisition—
(Increase) decrease in trade receivables
20,194
23,847
(Increase) decrease in inventories
913
-14,111
Increase in finance receivables
-25,204
-19,659
(Decrease) increase in trade payables
-31,404
-23,282
Decrease in accrued income taxes and
accrued expenses and other
-2,758
-24,387
Increase in accrued pension and severance costs
2,222
2,454
Other, net
3,646
8,746
Net cash provided by operating activities
93,524
74,318
II. Cash Flows from Investing Activities:
1. Proceeds from sales of property, plant and equipment
331
1,631
2. Expenditures for tangible fixed assets
-79,267
-58,253
3. Payments for purchases of available-for-sale securities
-114,519
-27,161
4. Proceeds from sales of available-for-sale securities
117,417
39,024
5. (Increase) decrease in time deposits, net
-155
108
6. Acquisition of new subsidiaries, net of cash acquired
−
-41,673
7. Other, net
-15,059
-4,252
Net cash used in investing activities
-91,252
-90,576
III. Cash Flows from Financing Activities:
1. Proceeds from long-term indebtedness
61,160
45,053
2. Repayment of long-term indebtedness
-67,833
-37,522
3. (Decrease) increase in short-term borrowings, net
43,887
-1,628
4. Proceeds from issuance of long-term debt securities
−
9,000
5. Repayment of long-term debt securities
-52,000
-22,000
6. Dividends paid
-16,178
-14,793
7. Payment for purchase of treasury stock
-487
-480
8. Other, net
-612
-579
Net cash used in financing activities
-32,063
-22,949
IV. Effect of Exchange Rate Changes on Cash and Cash Equivalents
-2,226
1,866
V. Net Decrease in Cash and Cash Equivalents
-32,017
-37,341
VI. Cash and Cash Equivalents at Beginning of Year
186,857
203,039
2,475
VII. Adjustment for Change of Fiscal Period on Consolidated Subsidiaries
−
VIII. Cash and Cash Equivalents at End of Period
154,840
168,173
10
(Millions of yen)
Year ended
March 31, 2005
83,143
78,201
-1,966
11,353
4,056
-26,429
-12,885
-30,294
27,276
-13,719
4,307
9,737
132,780
721
-84,076
-79,431
118,120
-511
-43,214
-7,807
-96,198
72,206
-60,613
-38,052
18,000
-22,000
-14,793
-10,624
-563
-56,439
1,200
-18,657
203,039
2,475
186,857
5. Segment Information
(1) Industry Segment Information
(Three months ended December 31, 2005 and 2004)
(Millions of yen)
Three months ended
December 31, 2005
Office Solution Business:
Net sales:
Unaffiliated customers
Intersegment
Total
Operating expenses
Operating income
Operating income on sales in Office Solution Business (%)
Industry Business:
Net sales:
Unaffiliated customers
Intersegment
Total
Operating expenses
Operating income
Operating income on sales in Industry Business (%)
Other Business:
Net sales:
Unaffiliated customers
Intersegment
Total
Operating expenses
Operating income
Operating income on sales in Other Business (%)
Corporate and Eliminations:
Net sales:
Intersegment
Total
Operating expenses:
Intersegment
Corporate
Total
Operating income
Consolidated:
Net sales:
Unaffiliated customers
Intersegment
Total
Operating expenses
Operating income
Operating income on consolidated net sales (%)
Three months ended
December 31, 2004
407,986
407,986
356,613
51,373
379,926
379,926
325,162
54,764
12.6
14.4
29,715
658
30,373
31,074
-701
26,091
596
26,687
27,179
-492
-2.3
-1.8
38,069
38,069
35,587
2,482
37,782
37,782
37,434
348
6.5
0.9
-658
-658
Change
%
28,060
28,060
31,451
-3,391
7.4
7.4
9.7
-6.2
3,624
62
3,686
3,895
-209
13.9
10.4
13.8
14.3
-
287
287
-1,847
2,134
0.8
0.8
-4.9
613.2
-596
-596
-62
-62
-
-662
16,072
15,410
-16,068
-592
15,907
15,315
-15,911
-70
165
95
-157
-
475,770
475,770
438,684
37,086
443,799
443,799
405,090
38,709
31,971
31,971
33,594
-1,623
7.2
7.2
8.3
-4.2
7.8
8.7
Note: Effective from the year ending March 31, 2006, our business segment is changed into three categories such as "Office Solution", "Industry" and
"Other". Accordingly, information for the previous corresponding period has been reclassified to conform with the current classification.
11
(Millions of yen)
(Nine months ended December 31, 2005 and 2004 and Year ended March 31, 2005)
Nine months ended
December 31, 2005
Office Solution Business:
Net sales:
Unaffiliated customers
Intersegment
Total
Operating expenses
Operating income
Year ended
March 31, 2005
%
1,114,588
1,114,588
975,903
138,685
11.9
12.4
88,174
1,902
90,076
90,948
-872
84,851
1,862
86,713
86,424
289
-1.0
0.3
116,349
116,349
111,739
4,610
120,363
120,363
121,254
-891
4.0
-0.7
-1,902
-1,902
-1,862
-1,862
-40
-40
-
-2,506
-2,506
-1,941
41,589
39,648
-41,550
-1,860
41,614
39,754
-41,616
-81
-25
-106
66
-
-2,475
56,715
54,240
-56,746
1,398,790
1,398,790
1,294,797
103,993
1,319,802
1,319,802
1,223,335
96,467
78,988
78,988
71,462
7,526
6.0
6.0
5.8
7.8
1,814,108
1,814,108
1,678,602
135,506
7.4
7.3
Operating income on sales in Office Solution Business (%)
Operating income on sales in Industry Business (%)
Operating income on sales in Other Business (%)
Corporate and Eliminations:
Net sales:
Intersegment
Total
Operating expenses:
Intersegment
Corporate
Total
Operating income
Consolidated:
Net sales:
Unaffiliated customers
Intersegment
Total
Operating expenses
Operating income
Change
1,194,267
1,194,267
1,052,462
141,805
Industry Business:
Net sales:
Unaffiliated customers
Intersegment
Total
Operating expenses
Operating income
Other Business:
Net sales:
Unaffiliated customers
Intersegment
Total
Operating expenses
Operating income
Nine months ended
December 31, 2004
Operating income on consolidated net sales (%)
79,679
79,679
76,559
3,120
7.1
7.1
7.8
2.2
12.8
3,323
40
3,363
4,524
-1,161
3.9
2.1
3.9
5.2
-
119,408
2,506
121,914
121,872
42
0.0
-4,014
-4,014
-9,515
5,501
-3.3
-3.3
-7.8
-
163,272
163,272
167,431
-4,159
-2.5
Note: Effective from the year ending March 31, 2006, our business segment is changed into three categories such as "Office Solution", "Industry" and
"Other". Accordingly, information for the previous corresponding period has been reclassified to conform with the current classification.
12
1,531,428
1,531,428
1,335,059
196,369
7.5
(2) Geographic Segment Information
(Three months ended December 31, 2005 and 2004)
Japan:
Net sales:
External customers
Intersegment
Total
Operating expenses
Operating income
Operating income on sales in Japan(%)
The Americas:
Net sales:
External customers
Intersegment
Total
Operating expenses
Operating income
Operating income on sales in the Americas(%)
Europe:
Net sales:
External customers
Intersegment
Total
Operating expenses
Operating income
Operating income on sales in Europe(%)
Other:
Net sales:
External customers
Intersegment
Total
Operating expenses
Operating income
Operating income on sales in Other(%)
Corporate and Eliminations:
Net sales:
Intersegment
Total
Operating expenses
Operating income
Consolidated:
Net sales:
External customers
Intersegment
Total
Operating expenses
Operating income
Operating income on consolidated net sales(%)
(Millions of yen)
Three months ended
Three months ended
December 31, 2005
December 31, 2004
237,143
104,330
341,473
313,960
27,513
236,003
104,719
340,722
311,668
29,054
8.1
8.5
98,122
5,405
103,527
101,728
1,799
78,146
1,327
79,473
77,846
1,627
1.7
2.0
116,178
869
117,047
112,612
4,435
108,085
747
108,832
103,620
5,212
3.8
4.8
24,327
25,335
49,662
46,029
3,633
21,565
21,501
43,066
39,925
3,141
7.3
7.3
-135,939
-135,939
-135,645
-294
Change
1,140
-389
751
2,292
-1,541
%
0.5
-0.4
0.2
0.7
-5.3
19,976 25.6
4,078 307.3
24,054 30.3
23,882 30.7
172 10.6
8,093
122
8,215
8,992
-777
7.5
16.3
7.5
8.7
-14.9
2,762
3,834
6,596
6,104
492
12.8
17.8
15.3
15.3
15.7
-128,294
-128,294
-127,969
-325
-7,645
-7,645
-7,676
31
-
475,770
475,770
438,684
37,086
443,799
443,799
405,090
38,709
31,971
31,971
33,594
-1,623
7.2
7.2
8.3
-4.2
7.8
8.7
13
(Nine months ended December 31, 2005 and 2004 and Year ended March 31, 2005)
Nine months ended
December 31, 2005
Japan:
Net sales:
External customers
Intersegment
Total
Operating expenses
Operating income
Operating income on sales in Japan(%)
The Americas:
Net sales:
External customers
Intersegment
Total
Operating expenses
Operating income
Operating income on sales in the Americas(%)
Europe:
Net sales:
External customers
Intersegment
Total
Operating expenses
Operating income
Operating income on sales in Europe(%)
Other:
Net sales:
External customers
Intersegment
Total
Operating expenses
Operating income
Operating income on sales in Other(%)
Corporate and Eliminations:
Net sales:
Intersegment
Total
Operating expenses
Operating income
Consolidated:
Net sales:
External customers
Intersegment
Total
Operating expenses
Operating income
Operating income on consolidated net sales(%)
(Millions of yen)
Nine months ended
December 31, 2004
Change
732,761
308,643
1,041,404
966,641
74,763
717,476
294,539
1,012,015
943,269
68,746
7.2
6.8
280,441
7,158
287,599
279,335
8,264
237,330
6,141
243,471
235,711
7,760
2.9
3.2
315,747
3,315
319,062
304,660
14,402
302,026
2,536
304,562
288,388
16,174
4.5
5.3
69,841
73,354
143,195
132,963
10,232
62,970
65,319
128,289
119,713
8,576
7.1
6.7
-392,470
-392,470
-388,802
-3,668
-368,535
-368,535
-363,746
-4,789
-23,935
-23,935
-25,056
1,121
-
-492,659
-492,659
-490,002
-2,657
1,398,790
1,398,790
1,294,797
103,993
1,319,802
1,319,802
1,223,335
96,467
78,988
78,988
71,462
7,526
6.0
6.0
5.8
7.8
1,814,108
1,814,108
1,678,602
135,506
7.4
7.3
14
15,285
14,104
29,389
23,372
6,017
Year ended
March 31, 2005
%
2.1
4.8
2.9
2.5
8.8
994,499
392,216
1,386,715
1,298,640
88,075
6.4
43,111
1,017
44,128
43,624
504
18.2
16.6
18.1
18.5
6.5
322,975
7,486
330,461
316,651
13,810
4.2
13,721
779
14,500
16,272
-1,772
4.5
30.7
4.8
5.6
-11.0
412,333
3,310
415,643
391,271
24,372
5.9
6,871
8,035
14,906
13,250
1,656
10.9
12.3
11.6
11.1
19.3
84,301
89,647
173,948
162,042
11,906
6.8
7.5
-APPENDIX- (Third Quarter Ended December 31, 2005)
1. Consolidated Quarterly Performance Outline
Fiscal 2006
(Millions of yen)
1Q
Net sales
Gross profit
Operating income
Income before income taxes
Net income
Net income per share (yen)
Total assets
Shareholders' equity
Shareholders' equity per share (yen)
452,982
194,722
37,282
38,095
23,723
32.32
1,899,986
879,665
1,198.48
Change(%)
3.8
2.9
-5.3
-7.8
-4.7
-
2Q
470,038
193,531
29,625
31,312
19,144
26.08
1,948,587
905,674
1,233.08
Change(%)
7.0
10.8
61.3
67.0
75.2
-
3Q
475,770
201,154
37,086
38,707
23,000
31.34
1,990,802
929,508
1,265.83
Change(%)
7.2
4.7
-4.2
11.7
3.5
-
Fiscal 2005
(Millions of yen)
1Q
Net sales
Gross profit
Operating income
Income before income taxes
Net income
Net income per share (yen)
Total assets
Shareholders' equity
Shareholders' equity per share (yen)
436,550
189,171
39,387
41,319
24,894
33.69
1,855,745
812,915
1,100.24
Change(%)
-0.2
-1.9
2.3
10.7
11.4
-
2Q
439,453
174,709
18,371
18,745
10,927
14.79
1,877,455
830,280
1,123.84
Note: Fiscal year refers to Ricoh's fiscal year ended March 31.
A1
Change(%)
-2.5
-10.6
-52.6
-45.0
-45.1
-
3Q
443,799
192,103
38,709
34,661
22,223
30.08
1,899,898
841,998
1,139.87
Change(%)
5.4
3.4
6.9
4.2
13.0
-
4Q
494,306
198,594
39,039
40,658
25,099
34.08
1,953,669
862,998
1,175.67
Change(%)
4.9
3.6
6.8
5.9
-15.9
-
2. Consolidated Sales by Product Category
(Three months ended December 31, 2005 and 2004)
<Office Solution Business>
Imaging Solution Business
Percentage of net sales (%)
Domestic
Overseas
Network System Solution Business
Percentage of net sales (%)
Domestic
Overseas
Office Solution Business Total
Percentage of net sales (%)
Domestic
Overseas
The Americas
Europe
Other
<Industry Business>
Industry Business
Percentage of net sales (%)
Domestic
Overseas
The Americas
Europe
Other
<Other Business>
Other Business
Percentage of net sales (%)
Domestic
Overseas
The Americas
Europe
Other
Grand Total
Percentage of net sales (%)
Domestic
Percentage of net sales (%)
Overseas
Percentage of net sales (%)
The Americas
Percentage of net sales (%)
Europe
Percentage of net sales (%)
Other
Percentage of net sales (%)
Reference: Exchange rate
US$ 1
EURO 1
(Millions of yen)
Three months ended
Three months ended
December 31, 2005
December 31, 2004
367,207
77.2
143,304
223,903
40,779
8.6
38,396
2,383
407,986
85.8
181,700
226,286
93,969
109,300
23,017
338,074
76.2
143,259
194,815
41,852
9.4
40,145
1,707
379,926
85.6
183,404
196,522
75,560
102,215
18,747
29,715
6.2
17,662
12,053
3,921
4,073
4,059
Change excluding
Change
%
exchange impact
%
29,133
8.6
16,659
4.9
45
29,088
-1,073
0.0
14.9
-2.6
45
16,614
-1,168
0.0
8.5
-2.8
-1,749
676
28,060
-4.4
39.6
7.4
-1,749
581
15,491
-4.4
34.0
4.1
-1,704
29,764
18,409
7,085
4,270
-0.9
15.1
24.4
6.9
22.8
-1,704
17,195
9,420
5,030
2,745
-0.9
8.7
12.5
4.9
14.6
26,091
5.9
16,725
9,366
2,409
3,873
3,084
3,624
13.9
3,147
12.1
937
2,687
1,512
200
975
5.6
28.7
62.8
5.2
31.6
937
2,210
1,104
143
963
5.6
23.6
45.8
3.7
31.2
38,069
8.0
31,523
6,546
286
1,736
4,524
475,770
100.0
230,885
48.5
244,885
51.5
98,176
20.6
115,109
24.2
31,600
6.7
37,782
8.5
31,192
6,590
277
1,522
4,791
443,799
100.0
231,321
52.1
212,478
47.9
78,246
17.6
107,610
24.2
26,622
6.1
287
0.8
-36
-0.1
331
-44
9
214
-267
31,971
1.1
-0.7
3.1
14.1
-5.6
7.2
331
-367
-13
187
-541
18,602
1.1
-5.6
-4.6
12.3
-11.3
4.2
-436
-0.2
-436
-0.2
32,407
15.3
19,038
9.0
19,930
25.5
10,511
13.4
7,499
7.0
5,360
5.0
4,978
18.7
3,167
11.9
¥117.24
¥139.41
¥106.01
¥137.16
¥11.23
¥2.25
Each category includes the following product line:
Imaging Solution Business
Digital PPCs, color PPCs, digital duplicators, facsimile machines, analog PPCs, diazo copiers, scanners,
MFPs(multifunctional printers), laser printers and software
Network System Solution Business
Personal computers, PC servers, network systems and network related software
Industry Business
Thermal media, optical equipments, semiconductors, electronic component and measuring equipments
Other Business
Optical discs and digital camera
A2
(Nine months ended December 31, 2005 and 2004 and Year ended March 31, 2005)
<Office Solution Business>
Imaging Solution Business
Percentage of net sales (%)
Domestic
Overseas
Network System Solution Business
Percentage of net sales (%)
Domestic
Overseas
Office Solution Business Total
Percentage of net sales (%)
Domestic
Overseas
The Americas
Europe
Other
<Industry Business>
Industry Business
Percentage of net sales (%)
Domestic
Overseas
The Americas
Europe
Other
<Other Business>
Other Business
Percentage of net sales (%)
Domestic
Overseas
The Americas
Europe
Other
Grand Total
Percentage of net sales (%)
Domestic
Percentage of net sales (%)
Overseas
Percentage of net sales (%)
The Americas
Percentage of net sales (%)
Europe
Percentage of net sales (%)
Other
Percentage of net sales (%)
Reference: Exchange rate
US$ 1
EURO 1
Nine months ended
Nine months ended
December 31, 2005
December 31, 2004
1,060,337
75.8
432,545
627,792
133,930
9.6
127,380
6,550
1,194,267
85.4
559,925
634,342
268,342
300,364
65,636
977,130
74.0
411,029
566,101
137,458
10.5
132,828
4,630
1,114,588
84.5
543,857
570,731
229,287
283,691
57,753
88,174
6.3
53,740
34,434
12,142
11,546
10,746
84,851
6.4
56,429
28,422
7,525
11,087
9,810
116,349
8.3
98,137
18,212
1,607
4,598
12,007
1,398,790
100.0
711,802
50.9
686,988
49.1
282,091
20.2
316,508
22.6
88,389
6.3
120,363
9.1
100,211
20,152
2,764
5,819
11,569
1,319,802
100.0
700,497
53.1
619,305
46.9
239,576
18.2
300,597
22.8
79,132
5.9
¥112.04
¥136.92
¥108.55
¥134.60
(Millions of yen)
Change excluding
Change
%
Year ended
exchange impact
%
83,207
8.5
67,440
6.9
21,516
61,691
-3,528
5.2
10.9
-2.6
21,516
45,924
-3,666
5.2
8.1
-2.7
-5,448
1,920
79,679
-4.1
41.5
7.1
-5,448
1,782
63,774
-4.1
38.5
5.7
16,068
63,611
39,055
16,673
7,883
3.0
11.1
17.0
5.9
13.6
16,068
47,706
30,714
11,449
5,543
3.0
8.4
13.4
4.0
9.6
3,323
3.9
2,772
3.3
-2,689
6,012
4,617
459
936
-4.8
21.2
61.4
4.1
9.5
-2,689
5,461
4,240
279
942
-4.8
19.2
56.3
2.5
9.6
-4,014
-3.3
-4,422
-3.7
-2,074
-1,940
-1,157
-1,221
438
78,988
-2.1
-9.6
-41.9
-21.0
3.8
6.0
-2,074
-2,348
-1,178
-1,288
118
62,124
-2.1
-11.7
-42.6
-22.1
1.0
4.7
11,305
1.6
11,305
1.6
67,683
10.9
50,819
8.2
42,515
17.7
33,776
14.1
15,911
5.3
10,440
3.5
9,257
11.7
6,603
8.3
¥3.49
¥2.32
Each category includes the following product line:
Imaging Solution Business
Digital PPCs, color PPCs, digital duplicators, facsimile machines, analog PPCs, diazo copiers, scanners,
MFPs(multifunctional printers), laser printers and software
Network System Solution Business
Personal computers, PC servers, network systems and network related software
Industry Business
Thermal media, optical equipments, semiconductors, electronic component and measuring equipments
Other Business
Optical discs and digital camera
A3
March 31, 2005
1,332,299
73.4
564,163
768,136
199,129
11.0
192,304
6,825
1,531,428
84.4
756,467
774,961
312,188
385,689
77,084
119,408
6.6
80,833
38,575
10,112
15,338
13,125
163,272
9.0
135,675
27,597
3,297
7,879
16,421
1,814,108
100.0
972,975
53.6
841,133
46.4
325,597
17.9
408,906
22.5
106,630
6.0
¥107.58
¥135.25
3. Consolidated Sales by Previous Product Category (for reference)
(Three months ended December 31, 2005 and 2004)
<Office Equipment>
Imaging Solutions:
Digital Imaging Systems
Percentage of net sales (%)
Domestic
Overseas
Other Imaging Systems
Percentage of net sales (%)
Domestic
Overseas
Total Imaging Solutions
Percentage of net sales (%)
Domestic
Overseas
Network Input/Output Systems:
Printing Systems
Percentage of net sales (%)
Domestic
Overseas
Other Input/Output Systems
Percentage of net sales (%)
Domestic
Overseas
Total Network Input/Output Systems
Percentage of net sales (%)
Domestic
Overseas
Network System Solutions
Percentage of net sales (%)
Domestic
Overseas
Office Equipment Total
Percentage of net sales (%)
Domestic
Overseas
The Americas
Europe
Other
< Other Businesses >
Other Businesses
Percentage of net sales (%)
Domestic
Overseas
The Americas
Europe
Other
Grand Total
Percentage of net sales (%)
Domestic
Percentage of net sales (%)
Overseas
Percentage of net sales (%)
The Americas
Percentage of net sales (%)
Europe
Percentage of net sales (%)
Other
Percentage of net sales (%)
Reference: Exchange rate
US$ 1
EURO 1
Each category includes the following product line:
Digital Imaging Systems
Other Imaging Systems
Printing Systems
Other Input/Output Systems
Network System Solutions
Other Businesses
(Millions of yen)
Three months ended
Three months ended
December 31, 2005
December 31, 2004
140,060
29.4
54,789
85,271
38,019
8.0
15,277
22,742
178,079
37.4
70,066
108,013
140,909
31.8
56,640
84,269
37,408
8.4
15,470
21,938
178,317
40.2
72,110
106,207
200,082
42.1
76,198
123,884
2,020
0.4
768
1,252
202,102
42.5
76,966
125,136
42,305
8.9
39,922
2,383
422,486
88.8
186,954
235,532
97,074
113,323
25,135
169,281
38.1
73,923
95,358
2,043
0.5
431
1,612
171,324
38.6
74,354
96,970
43,531
9.8
41,824
1,707
393,172
88.6
188,288
204,884
78,056
105,862
20,966
53,284
11.2
43,931
9,353
1,102
1,786
6,465
475,770
100.0
230,885
48.5
244,885
51.5
98,176
20.6
115,109
24.2
31,600
6.7
50,627
11.4
43,033
7,594
190
1,748
5,656
443,799
100.0
231,321
52.1
212,478
47.9
78,246
17.6
107,610
24.2
26,622
6.1
¥117.24
¥139.41
¥106.01
¥137.16
Change
%
%
-849
-0.6
-6,291
-4.5
-1,851
1,002
611
-3.3
1.2
1.6
-1,851
-4,440
-469
-3.3
-5.3
-1.3
-193
804
-238
-1.2
3.7
-0.1
-193
-276
-6,760
-1.2
-1.3
-3.8
-2,044
1,806
-2.8
1.7
-2,044
-4,716
-2.8
-4.4
30,801
18.2
24,494
14.5
2,275
28,526
-23
3.1
29.9
-1.1
2,275
22,219
-41
3.1
23.3
-2.0
337
-360
30,778
78.2
-22.3
18.0
337
-378
24,453
78.2
-23.4
14.3
2,612
28,166
-1,226
3.5
29.0
-2.8
2,612
21,841
-1,321
3.5
22.5
-3.0
-1,902
676
29,314
-4.5
39.6
7.5
-1,902
581
16,372
-4.5
34.0
4.2
-1,334
30,648
19,018
7,461
4,169
-0.7
15.0
24.4
7.0
19.9
-1,334
17,706
9,727
5,346
2,633
-0.7
8.6
12.5
5.0
12.6
2,657
5.2
2,230
4.4
898
1,759
912
38
809
31,971
2.1
23.2
480.0
2.2
14.3
7.2
898
1,332
784
14
534
18,602
2.1
17.5
412.6
0.8
9.4
4.2
-436
-0.2
-436
-0.2
32,407
15.3
19,038
9.0
19,930
25.5
10,511
13.4
7,499
7.0
5,360
5.0
4,978
18.7
3,167
11.9
¥11.23
¥2.25
Digital PPCs, color PPCs, digital duplicators and facsimile machines
Analog PPCs, diazo copiers, and thermal paper
MFPs(multifunctional printers), laser printers and software
Optical discs and system scanners
Personal computers, PC servers, network systems and network related software
Optical equipments, metering equipments and semiconductors
A4
Change excluding
exchange impact
(Millions of yen)
(Nine months ended December 31, 2005 and 2004 and Year ended March 31, 2005)
<Office Equipment>
Imaging Solutions:
Digital Imaging Systems
Percentage of net sales (%)
Domestic
Overseas
Other Imaging Systems
Percentage of net sales (%)
Domestic
Overseas
Total Imaging Solutions
Percentage of net sales (%)
Domestic
Overseas
Network Input/Output Systems:
Printing Systems
Percentage of net sales (%)
Domestic
Overseas
Other Input/Output Systems
Percentage of net sales (%)
Domestic
Overseas
Total Network Input/Output Systems
Percentage of net sales (%)
Domestic
Overseas
Network System Solutions
Percentage of net sales (%)
Domestic
Overseas
Office Equipment Total
Percentage of net sales (%)
Domestic
Overseas
The Americas
Europe
Other
< Other Businesses >
Other Businesses
Percentage of net sales (%)
Domestic
Overseas
The Americas
Europe
Other
Grand Total
Percentage of net sales (%)
Domestic
Percentage of net sales (%)
Overseas
Percentage of net sales (%)
The Americas
Percentage of net sales (%)
Europe
Percentage of net sales (%)
Other
Percentage of net sales (%)
Reference: Exchange rate
US$ 1
EURO 1
Nine months ended
Nine months ended
December 31, 2005
December 31, 2004
416,289
29.8
166,198
250,091
113,573
8.1
45,434
68,139
529,862
37.9
211,632
318,230
416,440
31.6
170,564
245,876
118,482
8.9
46,382
72,100
534,922
40.5
216,946
317,976
561,811
40.2
229,175
332,636
7,862
0.5
2,110
5,752
569,673
40.7
231,285
338,388
138,656
9.9
132,106
6,550
1,238,191
88.5
575,023
663,168
278,300
312,333
72,535
470,624
35.7
201,898
268,726
11,022
0.8
1,921
9,101
481,646
36.5
203,819
277,827
142,569
10.8
137,939
4,630
1,159,137
87.8
558,704
600,433
239,000
297,051
64,382
160,599
11.5
136,779
23,820
3,791
4,175
15,854
1,398,790
100.0
711,802
50.9
686,988
49.1
282,091
20.2
316,508
22.6
88,389
6.3
160,665
12.2
141,793
18,872
576
3,546
14,750
1,319,802
100.0
700,497
53.1
619,305
46.9
239,576
18.2
300,597
22.8
79,132
5.9
¥112.04
¥136.92
¥108.55
¥134.60
Change excluding
Change
%
exchange impact
-151
-0.0
-6,460
-1.6
-4,366
4,215
-4,909
-2.6
1.7
-4.1
-4,366
-2,094
-6,387
-2.6
-0.9
-5.4
-948
-3,961
-5,060
-2.0
-5.5
-0.9
-948
-5,439
-12,847
-2.0
-7.5
-2.4
-5,314
254
-2.4
0.1
-5,314
-7,533
-2.4
-2.4
91,187
19.4
82,777
17.6
27,277
63,910
-3,160
13.5
23.8
-28.7
27,277
55,500
-3,191
13.5
20.7
-29.0
189
-3,349
88,027
9.8
-36.8
18.3
189
-3,380
79,586
9.8
-37.1
16.5
27,466
60,561
-3,913
13.5
21.8
-2.7
27,466
52,120
-4,051
13.5
18.8
-2.8
-5,833
1,920
79,054
-4.2
41.5
6.8
-5,833
1,782
62,688
-4.2
38.5
5.4
16,319
62,735
39,300
15,282
8,153
2.9
10.4
16.4
5.1
12.7
16,319
46,369
30,679
9,871
5,819
2.9
7.7
12.8
3.3
9.0
-66
-0.0
-564
-0.4
-5,014
4,948
3,215
629
1,104
78,988
-3.5
26.2
558.2
17.7
7.5
6.0
-5,014
4,450
3,097
569
784
62,124
-3.5
23.6
537.7
16.0
5.3
4.7
11,305
1.6
11,305
1.6
67,683
10.9
50,819
8.2
42,515
17.7
33,776
14.1
15,911
5.3
10,440
3.5
9,257
11.7
6,603
8.3
¥3.49
¥2.32
Each category includes the following product line:
Digital Imaging Systems
Digital PPCs, color PPCs, digital duplicators and facsimile machines
Other Imaging Systems
Analog PPCs, diazo copiers, and thermal paper
Printing Systems
MFPs(multifunctional printers), laser printers and software
Other Input/Output Systems
Optical discs and system scanners
Network System Solutions
Personal computers, PC servers, network systems and network related software
Other Businesses
Optical equipments, metering equipments and semiconductors
A5
Year ended
%
March 31, 2005
559,023
30.8
231,526
327,497
156,074
8.6
59,371
96,703
715,097
39.4
290,897
424,200
655,328
36.1
283,141
372,187
15,508
0.9
3,247
12,261
670,836
37.0
286,388
384,448
205,895
11.3
199,070
6,825
1,591,828
87.7
776,355
815,473
324,853
403,574
87,046
222,280
12.3
196,620
25,660
744
5,332
19,584
1,814,108
100.0
972,975
53.6
841,133
46.4
325,597
17.9
408,906
22.5
106,630
6.0
¥107.58
¥135.25
4. Forecast of Consolidated Performance
(Billions of yen)
Half year ended
Net sales
Gross profit
Operating income
Income before income taxes
Net income
Net income per share (yen)
Capital expenditure
Depreciation for tangible fixed assets
R&D expenditure
Exchange rate (Yen/US$)
Exchange rate (Yen/EURO)
Three months ended
Three months ending
Year ending
Sept. 30, 2005
Change
Dec. 31, 2005
Change
Mar. 31, 2006
Change
Mar. 31, 2006
Change
Results
%
Results
%
Forecast
%
Forecast
%
923.0
388.2
66.9
69.4
42.8
58.40
58.1
31.1
54.9
109.42
135.67
5.4
6.7
15.8
15.6
19.7
-
475.7
201.1
37.0
38.7
23.0
31.34
21.2
17.6
27.2
117.24
139.41
7.2
4.7
-4.2
11.7
3.5
-
511.2
212.5
49.0
49.3
31.1
42.36
30.5
18.2
33.8
110.00
135.00
3.4
7.0
25.5
21.5
24.0
-
1,910.0
802.0
153.0
157.5
97.0
132.10
110.0
67.0
116.0
111.52
136.44
5.3
6.3
12.9
16.3
16.7
-
5. Forecast of Consolidated Sales by Product Category
(Billions of yen)
Three months ending March 31, 2006
Change
Change
Forecast
Forecast(*)
%
%
<Office Solution Business>
Imaging Solution Business
Domestic
Overseas
Network System Solution Business
Domestic
Overseas
Office Solution Business Total
Domestic
Overseas
The Americas
Europe
Other
<Industry Business>
Industry Business
Domestic
Overseas
The Americas
Europe
Other
<Other Business>
Other Business
Domestic
Overseas
The Americas
Europe
Other
Grand Total
Domestic
Overseas
The Americas
Europe
Other
Year ending March 31, 2006
Change
Forecast
Forecast(*)
%
Change
%
373.6
162.2
211.3
64.6
62.2
2.4
438.2
224.4
213.7
90.1
103.4
20.2
5.2
5.9
4.6
4.7
4.6
9.3
5.1
5.6
4.7
8.7
1.4
5.0
371.1
162.2
208.8
64.6
62.2
2.4
435.7
224.4
211.2
85.8
105.2
20.2
4.5
5.9
3.4
4.7
4.6
9.3
4.5
5.6
3.5
3.5
3.1
5.0
1,433.9
594.7
839.1
198.5
189.5
8.9
1,632.4
784.3
848.1
358.4
403.7
85.9
7.6
5.4
9.2
-0.3
-1.4
31.1
6.6
3.7
9.4
14.8
4.7
11.5
1,415.6
594.7
820.9
198.3
189.5
8.8
1,614.0
784.3
829.7
345.8
400.3
83.5
6.3
5.4
6.9
-0.4
-1.4
29.1
5.4
3.7
7.1
10.8
3.8
8.4
31.6
19.0
12.6
4.0
4.5
4.1
-8.6
-22.1
24.1
54.6
5.9
23.7
31.5
19.0
12.5
3.8
4.6
4.1
-8.8
-22.1
23.1
46.9
8.2
23.7
119.7
72.7
47.0
16.1
16.0
14.8
0.3
-10.0
21.9
59.6
4.6
13.1
119.1
72.7
46.3
15.5
15.9
14.8
-0.2
-10.0
20.2
53.9
4.1
13.2
41.4
34.7
6.6
0.1
3.1
3.4
511.2
278.1
233.0
94.2
111.0
27.8
-3.5
-1.9
-11.1
-81.2
50.5
-29.5
3.4
2.1
5.0
9.5
2.5
1.2
41.3
34.7
6.6
0.1
3.1
3.4
508.5
278.1
230.3
89.7
112.9
27.7
-3.6
-1.9
-11.3
-81.2
50.5
-29.9
2.9
2.1
3.9
4.3
4.2
1.1
157.7
132.9
24.8
1.7
7.6
15.4
1,910.0
990.0
920.0
376.2
427.5
116.2
-3.4
-2.0
-10.0
-48.2
-2.3
-6.1
5.3
1.7
9.4
15.6
4.5
9.0
157.3
132.9
24.4
1.6
7.6
15.0
1,890.5
990.0
900.5
363.0
423.9
113.5
-3.6
-2.0
-11.6
-48.9
-3.1
-8.1
4.2
1.7
7.1
11.5
3.7
6.5
* Excluding foreign exchange impact
A6