Presentation

Consolidated
Results for the
6 months ended
September 30,
2012
October 30, 2012
Zenji Miura, Director,
Deputy President & CFO
Ricoh Company, Ltd.
A large screen signage, made up of three Ricoh ultra-short-throw
projectors connected together at the 2012 Annual Meetings of
the IMF and the World Bank Group
FY2013/03 1H results overview
¾ Operating income grew by ¥29.4 bil y-o-y, and net income grew ¥20.5
bil y-o-y.
¾ Net sales decreased y-o-y, however, growing 0.6% y-o-y excluding
forex impact.
¾ Sales fell short of the plan due to macro weakness in Europe, and U.S.
sales slow down in September.
¾ A4MFPs, PP, MDS and IT service business grew steadily worldwide .
¾ Generated 36.8 billion yen profit increase from FY2012/03 1H through
structural reform activities.
¾ FCF improved 13.2 billion yen y-o-y.
¾ Although sales forecast of FY2013/03 was revised down slightly, profit
forecast remains unchanged.
¾ ¥12.5/share for half year dividend as planned, year-end dividend will be
revised up to ¥16.5/share with a view to achieving FY2013/03 profit.
October 30, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved
2
FY2013/03 1H income statement
FY2013/03
1H result
434.5
504.5
939.0
386.8
41.2%
388.8
41.4%
-2.0
-0.2%
-9.7
-1.0%
-8.7
-0.9%
-12.12
430.7
486.7
917.4
374.4
40.8%
347.0
37.8%
27.3
3.0%
24.4
2.7%
11.7
1.3%
16.15
+28.27
US $1
79.82
79.43
-0.39
Euro 1
113.94
100.66
-13.28
(billions of yen)
Net sales
(Japan)
(Overseas)
Total
Gross profit
net sales %
SG&A
net sales %
Operating income
net sales %
Income before income taxes
net sales %
Net income attribute to Ricoh Co.
net sales %
EPS (Yen)
Exchange rate
(Yen)
Y-o-Y Comparison
FY2012/03
1H result
Change
Change(%)
Change(%)
without Forex
-3.7
-0.9%
-0.9%
-17.8
-3.5%
+1.9%
-21.6
-2.3%
+0.6%
-12.4
-3.2%
－
-41.8
－
+29.4
－
-10.8%
Investment
－
－
(billions of yen)
R&D
－
+34.2
59.7
54.7
6.4%
6.0%)
CAPEX
36.8
41.3
Depreciation
30.8
30.6
(% on sales
－
－
+20.5
FY12/03 FY13/03
1H
1H
(tangible fixed assets)
－
－
＜FY2013/03 Q2 forex assumption ＞
Q1(Actual)
Q2
1H
1US$
80.23JPY 75.00JPY
77.62JPY
1Euro
103.06JPY 100.00JPY 101.53JPY
*We have restated the previous year’s consolidated financial statements due to changing the fiscal year-ends of our subsidiaries from Jan, 2012.
October 30, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved
3
FY2013/03 1H operating income y-o-y comparison
(billions of yen)
+5.0
+4.2
-11.9
+2.1
+36.8
-10.5
+29.4
Expense on FY12/03 1H 23.9
Expanse on FY13/03 1H 9.5
Benefit on FY13/03 1H 22.4
(increase)
(decrease)
(increase)
27.3
+3.6
-2.0
FY2012/03
1H
Operating Income
Quake
Restructuring
Impact
Charge, net
(Last year)
Extraordinary items
October 30, 2012
Sales
Product
Cost Down
R&D
Other
Expenses
Forex, net
FY2013/03
1H
Operating Income
Gross profit items
SG&A items
(C)2012 Ricoh Company, Ltd. All Rights Reserved
4
FY2013/3 1H results supplement
OP / OP margin
OP
margin
4.5% 3.3% 3.4%
SG&A
(billions of yen)
3.7% 3.1%
1.2% 2.4%
SG&A
ratio
(billions of yen)
37.4% 38.6%36.7%
39.9%
43.0%
47.3%
38.2%
0.0%
37.4%
32.7%
-2.8%
-7.6%
16.1
15.9
6.2
18.9
11.3
SG&A excluding restructuring
charges and impairment losses
216.3
14.2
13.1
202.6
SG&A
182.4
180.5
184.3
186.2
175.6
171.4
135.7
148.6
143.7
27.0
27.7
165.4
-13.3
-34.9
SG&A
(R&D excluded)
R&D
Q2
Q3
Q4
FY2011/03
October 30, 2012
Q1
Q2
Q3
FY2012/03
Q4
Q1
Q2
FY13/03
170.9
186.8
154.1
153.2
154.7
158.2
28.3
27.3
29.5
28.0
31.7
29.5
29.7
Q2
Q3
Q4
Q1
Q2
Q3
Q4
FY2011/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved
FY2012/03
Q1
Q2
FY13/03
5
FY2013/03 1H business segment
Sales by Product Category
Sales y-o-y excluding forex
(billions of yen)
Change(without forex)
939.0
59.1
50.5
98.0
72.7
917.4
72.3
47.4
-2.3%(+0.6%)
Other
101.9
Industrial Products
69.4
-6.2%(-4.9%)
829.3
626.2
797.6
+4.8%
+2.6%
Production Printing
-4.6%(-1.4%)
Office Imaging
-4.9%(-1.5%)
+3.7%
+1.9%
+1.4%
0.0%
-0.1%-0.2%
-1.9%
+22.3%(+23.1%)
Network System
Solutions
+3.9%(+5.3%)
658.4
Total
-0.6%
Imaging & Solutions
+4.6
+2.8
+2.8
+0.7 +1.0
+0.8
0.0%
Industrial Products
-0.2
-1.6
+9.1 +8.6
-2.1
+0.6
0.0%
-7.9 -7.9 -8.7 -7.0 -5.0 -4.9
+33.9 +27.2 +23.3
+22.8
Other
+3.7
0.0%
Imaging & Solutions
FY2012/03
FY2013/03
1H
1H
-3.8%(-0.7%)
* We have restated the previous year’s consolidated financial statements due to changing
the fiscal year-ends of our subsidiaries from Jan, 2012.
October 30, 2012
-4.6 -8.2 -4.6 -9.8
Q2
Q3
Q4
FY2011/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved
Q1
Q2
Q3
FY2012/03
Q4
Q1
Q2
FY13/03
6
Imaging & Solutions
< OP&OP margin >
(billions of yen)
< MFP / Printer / PP combined y-o-y >
+8%
Non-hardware
+5%
8.2% 8.5%
7.9% 7.7% 7.3%
5.9% 6.8%
+3%
+1% +1% +1%
2.2%
OP
margin
0%
0%
+1%
+0%
+3%
+2%
+0%
+2%
+1%
-1%
-1% -2%
-4.4%
Hardware
Q2
Q3
Q4
Q1
FY2011/03
OP
-4%
Q2
-5%
Q3
Q4
FY2012/03
Q1 Q2
FY13/03
See Appendix for more data
35.0 35.1
35.3 30.7
28.8
26.3 28.0
< Products & Services sales y-o-y >
(Value, excluding Forex)
Black&White
9.0
Color
MFP
-5%
+1%
Office Printer
11%
+0%
PP (Cut Sheet type)
+9%
+37%
-17.4
Q2
Q3
Q4
FY2011/03
Q1
Q2
Q3
FY2012/03
Q4
Q1 Q2
FY13/03
* Excluding “Corporate and Eliminations”
MDS
IT Services
October 30, 2012
+17%
(including hardware, non-hardware and labor charge)
(C)2012 Ricoh Company, Ltd. All Rights Reserved
+18%
7
Imaging & Solutions Topics
Review by business region
Japan
The
Americas
Operating income improved y-o-y, although net sales decreased due to weak macro economy
and strengthening profit-oriented sales activities,.
Although sales of office & production printer kept steady growth, net sales missed
due to the slow-down of MFP sales in September. Turn-around process for OP through
CRGP is on course.
EMEA
Net sales rose slightly (excluding Forex) and margin improved y-o-y despite under the weak
macro economy, thanks to the impact of newly consolidated company and strengthening
solutions offering by direct channel.
AP&
China
Net sales underachieved slightly due to the temporary sales slow-down in June by the macro
risks, although low-end MFP kept healthy growth in AP region.
Topics
Mid-range A4MFPs, MP C305 and MP 301 series, launched overseas.
Mid-range A3MFPs, MP C3002/C3502, MP C4502/C5502 and MP 4002/5002 series, launched overseas.
Ricoh Turkey established to service production printing market.
Ricoh acquired German IT Services Company ADA.
Unified communication system and ultra short throw projection system launched overseas.
October 30, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved
8
Industrial Products / Other
(billions of yen)
Other
Industrial Products
- Thermal Rewritable media with RFID launched
in Japan.
- FA (factory automation) camera series launched.
RECO-view RF tag
FA camera
< OP>
- DSLR camera PENTAX K-30 launched.
- New DSLR camera PENTAX K-5 II launched.
- New Mirror-less camera PENTAX Q10 launched.
ＰＥＮＴＡＸ Ｋ-３０
ＰＥＮＴＡＸ Ｋ-５ ＩＩ
Ｑ１０
< OP>
0.8
0.5
0.2
-0.2
-0.4 -0.2
-0.3
-0.4
-0.3
-0.3
-1.0
-0.4
-1.7
-2.0
-1.6
-0.3
-0.5
-3.3
Q2
Q3
Q4
FY2011/03
Q1
Q2
Q3
FY2012/03
Q4
Q1 Q2
FY13/03
Q2
Q3
Q4
FY2011/03
* Excluding “Corporate and Eliminations”
October 30, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved
Q1
Q2
Q3
FY2012/03
Q4
Q1 Q2
FY13/03
* Excluding “Corporate and Eliminations”
9
Balance Sheet as of September 30, 2012
Inventories/Averaged cost of sales (month)
Assets
(billions of yen)
Current Assets
As of
Sep 30, 2012
Dif ｆ . from
Mar 31, '12
1,048.5
-57.9
Cash & time deposits
126.2
-32.3
Trade receivables
660.3
-26.6
Inventories
196.6
+1.6
1,169.9
-12.8
Tangible fixed assets
271.9
+3.4
Finance receivable
470.6
+2.6
Other investments
427.3
-19.0
Fixed Assets
Total Assets
2,218.5
Exchange rate as of September 30, 2012：
US$ 1
= ¥ 77.60
EURO 1
= ¥ 100.24
October 30, 2012
( -4.59)
( -9.56)
-70.8
Inventories/Averaged
cost of sales
2.03
2.05
195.0
188.5 196.6
End of End of End of End of End of
Mar Mar
Mar
Mar
Mar
‘09
‘10
‘11
‘12
‘08
End of End of
Sep
Sep
‘11
‘12
1.78
1.86
192.0 191.5
1.70
1.79
169.2 171.8
2.17
Inventories
(billions of yen)
Total assets turn over (per month)
Total assets
turn over
1.00
0.88
0.82
0.84
0.84
0.85
0.81
2,513.4
2 ,38 3.9
2,255.5 2 ,28 9.3
2,214 .3
2,179.8 2 ,21 8.5
End of End of End of End of End of
Mar Mar
Mar
Mar
Mar
‘09
‘10
‘11
‘12
‘08
End of End of
Sep
Sep
‘11
‘12
Total Assets
(billions of Yen)
(C)2012 Ricoh Company, Ltd. All Rights Reserved
10
Balance Sheet as of September 30, 2012
Liabilities and Equity
(billions of yen)
Net debt/equity ratio (multiplies)
As of
Sep 30, 2012
Difｆ. from
Mar 31, '12
Current Liabilities
640.9
-32.0
Trade payables
227.9
-24.2
Short-term borrowings
224.2
+7.7
Other current liabilities
188.8
-15.5
Fixed Liabilities
718.1
-19.2
Long-term indebtedness
518.2
-7.1
Accrued pension&severance costs
156.5
-8.2
43.3
-3.8
1,359.0
-51.2
801.3
-21.3
58.0
+1.7
859.4
-19.5
2,218.5
-70.8
Other fixed liabilities
Total Liabilities
Total Shareholders' Investment
Noncontrolling Interest
Total Equity
Total liabilities and Equity
Total debt
742.4
Exchange rate as of September 30, 2012：
US$ 1
= ¥ 77.60
EURO 1
= ¥ 100.24
October 30, 2012
+0.6
( -4.59)
( -9.56)
Net D/E
ratio
0.20
0.53
518.6
Net debt
(billions of yen)
0.45
0.49
0.71
583.1
440.6 455.3
0.59
0.77
616.2
506.5
212.2
End of End of End of End of End of
Mar Mar
Mar
Mar
Mar
‘09
‘10
‘11
‘12
‘08
End of End of
Sep
Sep
‘11
‘12
Equity ratio
Equity
ratio
48.8% 38.8% 40.8% 41.0% 35.9%
1,080.1
975.3 973.3 925.2
822.7
39.3% 36.1%
856.6 801.3
Shareholders’
equity
(billions of yen)
End of End of End of End of End of
Mar Mar
Mar
Mar
Mar
‘09
‘10
‘11
‘12
‘08
(C)2012 Ricoh Company, Ltd. All Rights Reserved
End of End of
Sep
Sep
‘11
‘12
11
FY2013/03 1H statement of cash flow
(billions of yen)
Consolidated net income
Depreciation and amortization
[ Net income + Depreciation and amortization ]
Other operating activities
Net cash by operating activities
Plant and equipment
Other investing activities
FY2012/03
Apr-Sep
FY2013/03
Apr-Sep
-6.6
43.9
14.1
43.0
[ 37.3 ]
[ 57.1 ]
-21.7
-28.6
15.5
28.4
-36.3
-16.6
-40.7
-11.8
-52.9
-52.6
-37.3
-24.1
18.1
3.1
-11.9
-6.1
-0.3
5.8
-0.3
-3.3
-7.1
-5.7
Net increase in cash and equivalents
-38.6
-33.2
Cash and equivalents at end of period
133.6
122.9
Net cash by investing activities
Free cash flow ( Operating + Investing net cash )
Increase (Decrease) of debt
Dividend paid
Other financing activities
Net cash by financing activities
Effect of exchange rate
Free cash flow (billions of yen)
27.8
13.2
-2.6
-7.6
-8.8
-77.1
Q2
Q3
(C)2012 Ricoh Company, Ltd. All Rights Reserved
Q4
Q1
FY2011/03
Q2
Q3
Q4
FY2012/03
Q1
Q2
FY13/03
<Annual Data>
101.1
36.7
-3.9
-101.2
-195.6
FY
08/03
October 30, 2012
-15.3
-20.0 -17.3
FY
09/03
FY
10/03
FY
11/03
FY
12/03
12
FY2013/03 income statement forecast
FY2012/03
Results
FY2013/03
forecast
(on Jul '12)
FY2013/03
Forecast
886.4
1,017.0
1,903.4
752.6
39.5%
770.6
40.4%
-18.0
-0.9%
-31.9
-1.7%
-44.5
-2.3%
-61.4
901.0
1,019.0
1,920.0
760.0
39.6%
690.0
35.9%
70.0
3.6%
62.5
3.3%
33.0
1.7%
45.49
887.0
1,013.0
1,900.0
755.0
39.7%
685.0
36.1%
70.0
3.7%
62.5
3.3%
33.0
1.7%
45.51
+106.93
US $1
79.08
76.31
77.22
-1.86
Euro 1
109.05
100.77
100.33
-8.72
(billions of yen)
Net sales
(Japan)
(Overseas)
Total
Gross profit
net sales %
SG&A
net sales %
Operating income
net sales %
Income before income taxes
net sales %
Net income attribute to Ricoh Co.
net sales %
EPS (Yen)
Exchange rate
(Yen)
October 30, 2012
Y-o-Y comparison
Change
Change(%)
Change(%)
without Forex
+0.5
+0.1%
+0.1%
-4.0
-0.4%
+4.5%
-3.4
-0.2%
+2.4%
+2.3
+0.3%
-85.6
-11.1%
+88.0
Investment
－
(billions of yen)
+94.4
－
R&D
FY12/03 FY13/03
result forecast
119.0
117.0
6.3%
6.2%)
73.2
64.9
79.0
64.0
(% on sales
CAPEX
+77.5
(C)2012 Ricoh Company, Ltd. All Rights Reserved
－
Depreciation
(tangible fixed assets)
FY2013/03 Q3-Q4
forex assumption
1US$ =
75.00JPY
1Euro =
100.00JPY
14
FY2013/03 operating income y-o-y comparison
+11.3
+5.0
+2.0
-7.8
(billions of yen)
-16.0
+88.0
+50.5
Expense on FY12/03 34.1 (increase)
Expanse on FY13/03 25.0 (decrease)
Benefit
35.0 (increase)
+60.0
+37.0
-18.0
FY12/03
Impairment
Operating
Income
Forex assumptions
Quake Restructuring
&Flood Charge, net
Impact
Extraordinary items
(yen)
US$
Euro
October 30, 2012
70.0
Sales
Product
Cost Down
Gross profit items
FY2012/03
result
FY2013/03
forecast
y-o-y
79.08
109.05
77.22
100.33
-1.86
-8.72
R&D
Expenses Forex, net
FY13/03
Operating
Income
forecast
SG&A items
Forex impacts
Impacts of forex
per yen annually
(C)2012 Ricoh Company, Ltd. All Rights Reserved
(billion yen)
US$
Euro
sales
OP
6.5
3.5
1.3
1.5
15
Progress of structural reform (CRGP)
Total
▲approx. 10,000 persons
（billions of yen）
７５.０
▲approx. 4,000 persons
２９.５
25.5
▲approx. 5,000 persons
36.4
36.4
13.1
13.1
Merit
▲２１.０
13.1
△34.1
-Human resource optimization
-Change work style
-Integrate site
△20.0
Cost
-Human resource optimization
-BPR
-Reorganize production strategies
and review development processes
-Integrate site
-Human resource optimization
-BPR
-Reorganize production strategies
and review development processes
-Integrate site
FY2012/03
FY2013/03
FY2014/03
(Actual)
(forecast)
(Plan)
October 30, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved
16
FY2013/3 sales forecast
By product category
(billions of yen)
By area
Y-o-Y (without forex)
1,903.4
1,900.0
134.3
153.2
98.0
94.8
199.2
210.8
148.5
-0.2%(+2.4%)
Other
1,294.3
1,900.0
135.6
421.3
405.1
-3.3%(-1.6%)
Network System
Solutions
+5.8%(+6.8%)
1,323.2
1,903.4
126.9
+14.0%(+14.7%)
Industrial Products
146.8
Y-o-Y (without forex)
468.7
1,017.0
472.3
1,013.0
-0.4%(+4.5%)
887.0
Office Imaging
-2.2%(+0.8%)
Japan
+0.1%(+0.1%)
Imaging & Solutions
FY2012/03
October 30, 2012
FY2013/03
-1.1%(+1.7%)
The Americas
+0.8%(+3.1%)
Overseas
Production Printing
886.4
1,652.0
Other
+6.8%(+10.8%)
EMEA
-3.9%(+4.0%)
-1.2%(+2.1%)
1,671.1
-0.2%(+2.4%)
FY2012/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved
FY2013/03
17
Ricoh provided Solutions and Services to the 2012 Annual Meetings
of the IMF and World Bank Group in Japan
Digital signage with Ricoh ultra-short-throw projector
Development and management of a document output
Environment at the press center
October 30, 2012
Virtual help desk using UCS
*UCS：Unified Communication System
Paperless conference solution using tablet devices
(C)2012 Ricoh Company, Ltd. All Rights Reserved
18
FY2013/03 new products (Imaging & Solutions - Document)
New
<Solutions>
■FlexRelease CX
Increase competitive edge in developed markets
（Cloud print）
ＨＩＧＨ
Expand solutions（Cloud/MDS etc.）
Outstanding environmental products and solutions
■Smart Device Print
（Print from tablet devices and smart phones）
Most popular category in developed markets
New
ＭＩＤ
A3 monochrome
LP SP8300
Most popular category in emerging markets
Expand Solutions
Expand product lineup
New
Increase competitive advantage
in emerging markets
Expand product line up meeting the needs
of emerging markets
Business Personal
October 30, 2012
color wide format printer
Pro L4000
A2 monochrome MFP
MP W4001
A4 color MFP(GJ)
SG 3100SF
ＬＯＷ
Expand product lineup
A3 monochrome
high-speed MFP
MP 9002 series
(60-90cpm) 3 models
Expand Solutions
A3 color LP
SP C831/830
Released between Aug 1, 2012
to Oct 30, 2012
A3 color LP
SP C731/730
A4 monochrome MFP A4 color MFP
MP301SPF
MP C305SPF
Shared
Center
(C)2012 Ricoh Company, Ltd. All Rights Reserved
Recycled MFP
（25-50cpm)
A3 color ２ models
A3 monochrome 4 models
Production
19
FY2013/03 new products (Imaging & Solutions - Document)
FY2011/03
Color
MFP
FY2012/03
MP C5001
MP C4001
FY2013/03
MP C4002 MP C5002
MP C3301
MP C2801
MP C2201
MP C2051
Mono
MFP
MP C2802
MP C3302
MP 9002
MP 7502
Major new MFP launch from
12/03 2H to 13/03 1H.
MP5002
MP 6002
MP4002
MP3352
MP2852
MP2352
A4
MFP
MP C400
SP5210SF
MP C300
SP5200S
SP C241SF
SP C230SFL
SP1200SF
October 30, 2012
MP C305SPF
MP301SPF
SP3510SF
SP100SU
SP100SF
(C)2012 Ricoh Company, Ltd. All Rights Reserved
SG 3100SF
20
Dividend and ROE
(yen)
33.0
33.0
33.0
33.0
29.0
28.0
24.0
full year
dividend
year-end
dividend
18.0
20.0
17.0
15.0
25.0
16.5
16.5
8.5
15.0
12.0
revised up from
previous ¥12.5
/share forecast
10.0
10.0
mid-year
dividend
8.0
FY04/03
16.5
10.0
FY05/03
12.0
13.0
FY06/03
FY07/03
16.0
FY08/03
18.0
16.5
16.5
16.5
12.5
FY09/03
FY10/03
FY11/03
FY12/03
FY13/03
forecast
full-year
dividend
payout ratio
ROE
15%
18%
18%
18%
23%
366%
86%
122%
loss
64%
12.6%
10.0%
10.6%
11.0%
9.9%
0.6%
2.9%
2.0%
-5.1%
4.0%
October 30, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved
21
Appendix
October 30, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved
22
FY2013/03 1H sales by area
Sales by year
939.0
62.2
207.9
Quarterly sales y-o-y excluding forex
(billions of yen)
Y-o-Y (without forex)
917.4
65.2
-2.3%(+0.6%)
187.1
Other
+4.8%(+7.6%)
504.5
234.3
486.7
+2.7%
+6.9%
+0.0%
+0.1%
+1.0%
The Americas
0.0%(0.5%)
-3.5%(+1.9%)
-1.8%
-3.0%
-9.4%
The Americas
+4.7%
+3.5%
+3.4%
+0.1%
0.0%
-0.2%
-3.2%
-2.1%
-3.4%
-3.6%
Europe / Middle East / Africa
+4.5%+4.7%+5.6%
Overseas
434.5
+5.2%
0.0%
EMEA
-10.0%(+1.8%)
234.3
Japan
+5.2%
+3.7%
+2.8%
+2.5%
+0.8%
0.0%
-0.3%
430.7
Japan
Other
-0.9%(-0.9%)
+16.9%
+15.3%
+10.8%
+8.6%
+7.6%
+6.1%
+7.6%
+5.7%
+1.3%
0.0%
FY2012/03
1H
October 30, 2012
FY2013/03
1H
Q2
Q3
Q4
FY2011/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved
Q1
Q2
Q3
FY2012/03
Q4
Q1 Q2
FY13/03
23
FY2013/03 Q2 geographic segment
OP
margin
(billions of yen)
The Americas
Japan
2.5% 1.2% 0.4% 2.0% -6.5% -4.8% 3.3% 2.7% 1.4%
OP
margin
-0.8% -1.2% 0.2% -3.8% -0.6% -18.5% 0.2% 0.8% 0.6%
0.2
8.1
11.0
3.6
6.2
8.5
1.2
4.2
-1.1
0.2
0.9
0.6
Q1
Q2
-0.7
-1.5
-4.3
-14.8
～
-21.2
-21.5
Q2
Q3
Q4
Q1
FY2011/03
Q2
Q3
Q4
FY2012/03
Q1
Q2
Q2
FY13/03
7.1
8.0
6.5
5.4
4.8
6.2
4.4
OP
margin
Q3
Q4
FY2011/03
October 30, 2012
Q1
Q2
Q3
FY2012/03
Q4
Q1
Q2
Q3
Q4
FY2012/03
FY13/03
5.2% 2.9% 3.2% 2.3% 4.4% 0.2% 3.9% 3.8% 3.7%
3.7
0.8
Q2
Q1
Other
6.4% 6.9% 7.7% 6.1% 5.5% 0.8% 4.6% 6.6% 5.9%
6.2
Q4
FY2011/03
Europe / Middle East / Africa
OP
margin
Q3
Q2
FY13/03
Q2
1.9
2.1
1.4
Q3
Q4
Q1
FY2011/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved
3.1
2.9
2.8
2.7
Q4
Q1
Q2
0.1
Q2
Q3
FY2012/03
FY13/03
* Excluding “Corporate and Eliminations”
24
FY2013/03 Q2 income statement
FY2013/03
Q2 result
219.2
252.4
471.6
189.2
40.1%
202.6
43.0%
-13.3
-2.8%
-19.0
-4.0%
-13.7
-2.9%
-18.92
215.3
242.7
458.0
184.5
40.3%
171.4
37.4%
13.1
2.9%
12.2
2.7%
5.1
1.1%
7.13
+26.05
US $1
77.94
78.64
+0.70
Euro 1
110.31
98.29
-12.02
(billions of yen)
Net sales
(Japan)
(Overseas)
Total
Gross profit
net sales %
SG&A
net sales %
Operating income
net sales %
Income before income taxes
net sales %
Net income attribute to Ricoh Co.
net sales %
EPS (Yen)
Exchange rate
(Yen)
Y-o-Y Comparison
FY2012/03
Q2 result
Change
Change(%)
Change(%)
without Forex
-3.8
-1.8%
-1.8%
-9.7
-3.8%
+0.4%
-13.6
-2.9%
-0.6%
-4.7
-2.5%
－
-31.2
－
－
-15.4%
+26.4 －
－
(billions of yen)
－
+18.9
－
FY12/03 FY13/03
Q2
Q2
31.7
27.7
6.7%
6.0%)
CAPEX
20.0
Depreciation
15.2
22.1
15.9
R&D
(% on sales
+31.2 －
－
Investment
－
－
－
－
(tangible fixed assets)
FY2013/03 Q2
forex assumption
1US$ =
75.00JPY
1Euro =
100.00JPY
*We have restated the previous year’s consolidated financial statements due to changing the fiscal year-ends of our subsidiaries from Jan, 2012.
October 30, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved
25
FY2013/3 Q2 sales
By product category
（billions of yen）
By Area
Y-o-Y (without forex)
471.6
30.3
25.3
458.0
37.0
23.9
53.7
57.7
37.4
34.7
-2.9%(-0.6%)
Other
+22.2%(+22.8%)
Industrial Products
415.9
304.5
397.0
471.6
32.1
100.2
458.0
34.0
120.1
252.4
116.8
242.7
October 30, 2012
FY2013/03
219.2
215.3
Office Imaging
-6.2%(-3.6%)
-4.5%(-2.1%)
The Americas
-2.7%(-3.6%)
Overseas
-3.8%(0.4%)
Japan
-1.8%(-1.8%)
Imaging & Solutions
FY2012/03
Other
+5.9%(+7.6%)
EMEA
-8.3%(+2.8%)
Production Printing
-7.2%(-4.8%)
-2.9%(-0.6%)
91.9
-5.8%(-4.9%)
Network System
Solutions
+7.5%(+9.0%)
324.7
Y-o-Y (without forex)
FY2012/03
Q2
(C)2012 Ricoh Company, Ltd. All Rights Reserved
FY2013/03
Q2
26
Appendix: historical data (1)
*Value based ratio including forex
Imaging & Solutions sales portion by products
FY2011/03
FY2012/03
FY2013/03
FY11/03 FY12/03 FY13/03
FY11/03 FY12/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
1H
1H
1H
Total
Total
MFP
59%
57%
59%
59%
59%
56%
57%
57%
58%
55%
58%
57%
56%
59%
57%
Office Printer
12%
11%
11%
11%
11%
10%
10%
10%
10%
10%
12%
10%
10%
11%
10%
Production Printing(PP)
8%
8%
7%
8%
8%
9%
10%
9%
9%
9%
8%
9%
9%
8%
9%
Office Imaging, other
6%
5%
6%
6%
6%
6%
6%
6%
6%
6%
6%
7%
6%
6%
6%
MDS(Labor charge) & IT Services
9%
10%
10%
10%
9%
10%
10%
11%
10%
11%
9%
9%
11%
9%
10%
Network System Solutions, other
7%
9%
7%
6%
8%
9%
8%
7%
8%
9%
8%
8%
9%
7%
8%
MFP & printer Non-hardware ratio
FY2011/03
MFP
Office Printer
PP
October 30, 2012
FY2012/03
FY2013/03
FY11/03 FY12/03 FY13/03
FY11/03 FY12/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
1H
1H
1H
Total
Total
Japan
62%
61%
63%
54%
56%
61%
64%
52%
58%
61%
61%
59%
59%
60%
58%
Overseas
53%
50%
52%
49%
56%
51%
54%
52%
55%
53%
52%
53%
54%
51%
53%
Total
56%
54%
56%
51%
56%
55%
57%
52%
56%
56%
55%
55%
56%
54%
55%
Japan
88%
88%
88%
Overseas
73%
69%
71%
Total
81%
79%
80%
Japan
63%
58%
60%
Overseas
56%
57%
57%
Total
58%
57%
57%
(C)2012 Ricoh Company, Ltd. All Rights Reserved
27
Appendix: historical data (2)
MFP & printer y-o-y (Office Imaging and Production Printing)
< Hardware >
FY2011/03
Q1
Q2
Q3
*By value
FY2012/03
Q4
FY2013/03
FY11/03 FY12/03 FY13/03
FY11/03 FY12/03
Q1
Q2
Q3
Q4
Q1
Q2
1H
1H
1H
Total
Total
MFP&Printer
Japan
-4%
+4%
+2% -10%
+18%
-2%
-4%
+10%
-6%
-2%
+0%
+8%
-4%
-3%
+6%
(Office+PP)
Overseas
-6%
-4%
-5%
-3%
-13%
-7%
-11% -11%
+0%
-11%
-5%
-10%
-6%
-4%
-11%
(Forex excluded)
+1%
+9%
+6%
+7%
-8%
-1%
-5%
-6%
+7%
-7%
+5%
-5%
+0%
+6%
-5%
Total
-5%
-2%
-3%
-5%
-4%
-5%
-9%
-4%
-2%
-8%
-4%
-5%
-5%
-4%
-6%
(Forex excluded)
+0%
+8%
+5%
+1%
+0%
-2%
-4%
-1%
+2%
-5%
+4%
-1%
-2%
+3%
-2%
MFP&Printer
Japan
-1%
-2%
-1%
-2%
-5%
+4%
-2%
+0%
+2%
-2%
-2%
+0%
+0%
-2%
-1%
(Office+PP)
Overseas
-3%
-8%
-9%
-7%
-4%
-2%
-4%
-1%
-4%
-4%
-6%
-3%
-4%
-7%
-3%
(Forex excluded)
+3%
+4%
+2%
+3%
+2%
+3%
+2%
+4%
+4%
+1%
+4%
+2%
+2%
+3%
+3%
Total
-3%
-6%
-6%
-5%
-4%
+1%
-3%
-1%
-2%
-3%
-4%
-2%
-2%
-5%
-2%
(Forex excluded)
+2%
+1%
+1%
+1%
-1%
+3%
+1%
+2%
+3%
+0%
+2%
+1%
+1%
+1%
+1%
< Non-hardware >
＊Total hardware and non-hardware sales of MFP, Office printer, Cut sheet PP, Continuous form PP (excluding sales of solutions and third party products）
October 30, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved
28
Appendix: historical data (3)
MFP & printer y-o-y (Office Imaging)
< Hardware >
*By value
FY2011/03
Q1
Q2
Q3
FY2012/03
Q4
Q1
Q2
Q3
FY2013/03
Q4
Q1
Q2
FY11/03 FY12/03 FY13/03
1H
1H
1H
MFP&Printer
Japan
-6%
-3%
-4%
(Office Imaging)
Overseas
-3%
-10%
-7%
(Forex excluded)
+4%
-6%
-1%
Total
-4%
-8%
-6%
(Forex excluded)
+0%
-5%
-2%
MFP
Office Printer
Total
Total
Japan
-4%
+4%
+1% -12%
+18%
-4%
-5%
+7%
-6%
-1%
+0%
+7%
-4%
-4%
+5%
Overseas
-9%
-4%
-5%
+0%
-14%
-6%
-14% -15%
-4%
-12%
-7%
-10%
-8%
-5%
-12%
(Forex excluded)
-2%
+9%
+6% +11%
-8%
-1%
-8%
-10%
+3%
-8%
+3%
-5%
-3%
+6%
-7%
Total
-8%
-2%
-3%
-4%
-4%
-5%
-11%
-7%
-4%
-9%
-5%
-5%
-7%
-4%
-7%
(Forex excluded)
-3%
+7%
+5%
+2%
+0%
-2%
-7%
-4%
+0%
-6%
+2%
-1%
-3%
+3%
-3%
Japan
-1%
-16%
Overseas
+8% +22%
+14%
+16% +28%
+21%
(Forex excluded)
Total
(Forex excluded)
October 30, 2012
FY11/03 FY12/03
+5%
-9%
+6%
+5%
+10% +9%
+9%
(C)2012 Ricoh Company, Ltd. All Rights Reserved
29
Appendix: historical data (4)
MFP & printer y-o-y (Office Imaging)
< Non-hardware >
*By value
FY2011/03
Q1
Q2
Q3
FY2012/03
Q4
Q1
Q2
Q3
FY2013/03
Q4
Q1
Q2
FY11/03 FY12/03 FY13/03
1H
1H
1H
MFP&Printer
Japan
+2%
-3%
+0%
(Office Imaging)
Overseas
-5%
-6%
-5%
+3%
-1%
+1%
-2%
-4%
-3%
+2%
-2%
+0%
(Forex excluded)
Total
(Forex excluded)
MFP
Total
-2%
-3%
-1%
-3%
-5%
-3%
-4%
-1%
+0%
-4%
-3%
-4%
-2%
-2%
-3%
Overseas
-9%
-11% -11%
-6%
-4%
-3%
-7%
-4%
-5%
-5%
-10%
-3%
-5%
-9%
-4%
-1%
+1%
+0%
+4%
+1%
+2%
-1%
+2%
+2%
+0%
+0%
+1%
+1%
+1%
+1%
-6%
-8%
-7%
-5%
-5%
-3%
-6%
-3%
-3%
-5%
-7%
-4%
-4%
-7%
-4%
-2%
-1%
+0%
+1%
-2%
+0%
-2%
+0%
+1%
-2%
-1%
-1%
+0%
+0%
-1%
Japan
+9%
+1%
+5%
Overseas
-3%
-10%
-6%
+6%
-5%
+1%
+4%
-3%
+0%
+8%
-1%
+3%
Total
(Forex excluded)
(Forex excluded)
Total
(Forex excluded)
October 30, 2012
Total
Japan
(Forex excluded)
Office Printer
FY11/03 FY12/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved
30
Appendix: historical data (5)
Production Printing (PP) y-o-y
< Hardware >
FY2011/03
Q1
PP
*By value
Q2
Q3
FY2012/03
Q4
Q1
Q2
Q3
FY2013/03
Q4
FY11/03 FY12/03 FY13/03
Q1
Q2
1H
1H
1H
Japan
-10%
+8%
-1%
Overseas
+32% -13%
+5%
(Forex excluded)
+39% -10%
+10%
Total
+21%
-9%
+3%
(Forex excluded)
+27%
-6%
+7%
Japan
+5%
+6%
+6%
Overseas
+5% +13%
+9%
(Forex excluded)
+11% +18%
+15%
Total
+5% +12%
+8%
(Forex excluded)
+10% +15%
+13%
FY11/03 FY12/03
Total
Total
< Non-hardware >
PP
＊Total hardware and non-hardware sales of Cut sheet PP, Continuous form PP (excluding sales of solutions and third party products）
October 30, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved
31
Appendix: historical data (6)
MFP & printer color ratio
FY2011/03
MFP
Office Printer
PP
FY2012/03
FY2013/03
FY11/03 FY12/03 FY13/03
FY11/03 FY12/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
1H
1H
1H
Total
Total
Japan
67%
73%
76%
71%
76%
77%
78%
68%
70%
68%
70%
77%
69%
72%
74%
Overseas
50%
51%
53%
51%
56%
56%
58%
53%
56%
55%
51%
56%
56%
52%
56%
Total
56%
58%
60%
58%
64%
62%
64%
59%
61%
59%
57%
63%
60%
58%
62%
Japan
44%
43%
44%
Overseas
32%
32%
32%
Total
36%
36%
36%
Japan
6%
8%
7%
Overseas
56%
54%
55%
Total
47%
44%
45%
*For hardware shipment, by value
Number of employees
FY09/03
Q1
Q2
38,519
38,849
38,323
Americas
35,000
34,139
33,262
32,900
32,461
EMEA
17,239
17,350
17,637
17,449
18,170
China
10,143
11,808
11,960
11,798
12,056
5,025
5,645
7,864
7,984
8,072
67,407
68,942
70,723
70,131
70,759
108,525
109,014
109,242
108,980
109,082
Sub total
October 30, 2012
FY13/03
40,072
AsiaPacific
Total
FY12/03
41,118
Japan
Overseas
FY11/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved
*As of end of each period
32