Consolidated Results for the 3 months ended June 30, 2009 July 31, 2009 Zenji Miura Corporate Executive Vice President, CFO Ricoh Company, Ltd. Forward-looking statements The plans, prospects, strategies and other statements, except for the historical events, mentioned in this material are forward-looking statements with respect to future events and business results. Those statements were made based on the judge of RICOH's Directors from the information that is now obtainable. Actual results may differ materially from those projected or implied in such forward-looking statements and from any historical trends. Please refrain from judging only from these forward-looking statements with respect to future events and business results. The following important factors, without limiting the generality of the foregoing, could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements: a. General economic conditions and business trend, particularly consumption trend b. Exchange rates and their fluctuations c. Rapid technological innovation d. Uncertainty as to RICOH's ability to continue to design, develop, produce and market products and services that achieve market acceptance in hot competitive market No company's name and/or organization's name used, quoted and/or referenced in this material shall be interpreted as a recommendation and/or endorsement by RICOH. This material is not an offer or a solicitation to make investments. Please do not rely on this material as your sole source of information for your actual investments, and be aware that decisions regarding investments are the responsibility of users themselves. July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 1 FY2010/3 Q1 Income Statement FY09/3 Q1 (billions of yen) Net sales Change Change(%) Change(%) without Forex -11.6% -11.6% 233.8 206.7 -27.1 (Overseas) 287.7 284.6 -3.0 Total 521.5 491.3 -30.1 -5.8% 228.3 200.3 -28.0 -12.3% 43.8% 40.8% 39.7 6.0 -33.6 -84.7% 7.6% 1.2% 43.7 3.4 8.4% 0.7% net sales % Operating income net sales % Income before income taxes net sales % -40.3 0.9 4.9% 0.2% 35.71 1.24 -34.47 US $1 104.66 97.51 -7.15 Euro 1 163.48 132.69 -30.79 net sales % EPS (Yen) -1.1% +13.1% +2.0% Investments 25.7 Net income attribute to Ricoh Co. (Yen) Y-o-Y Comparison (Japan) Gross profit Exchange rate FY10/3 Q1 -24.8 -92.2% -96.5% (billions of yen) FY09/3 FY10/3 Q1 Q1 R&D 31.7 27.2 (on sales% 6.1% 5.6% ) CAPEX 20.4 17.3 Depreciation 17.7 &Amortization 16.6 Forex assumption on April, 2009 1US$ 1EURO ¥95.00 ¥125.00 July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 2 FY2010/3 Q1 Income before tax y-o-y comparison (billions of yen) Operating Income Items 4.8 Sales 4.5 1.9 Cost Down R&D 23.3 (Gross profit) 43.7 Expenses 11.9 Forex, net FY09/3 Q1 “ ” shows profit increase and “ 6.6 (-40.3) Other expenses 3.4 ” shows profit decrease in this chart. FY10/3 Q1 July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 3 FY2010/3 Q1 Sales By Category By Area (billions of Yen) (billions of Yen) Change(without forex) 521.5 33.2 33.0 45.1 491.3 -5.8%(+2.0%) Other 29.8 24.7 58.7 Change(without forex) 521.5 28.1 148.6 410.1 378.0 Imaging Solutions -7.8%(+1.2%) Europe -23.5%(-6.3%) 101.6 142.7 233.8 206.7 -1.1%(+13.1%) Japan -11.6%(-11.6%) -4.1%(+4.6%) FY10/3 Q1 The Americas +40.4%(+50.7%) Overseas Imaging & Solutions FY09/3 Q1 Other -24.7%(-12.1%) 113.7 -25.2%(-22.0%) Network System Solutions +30.1%(+36.0%) -5.8%(+2.0%) 37.3 -10.3%(-9.8%) Industrial Products 491.3 FY09/3 Q1 FY10/3 Q1 July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 4 FY2010/3 Q1 Business Segment - MFP growth MFP total: MFP non-hard: Imaging & Solutions Total Total 455.2 45.1 436.8 Network System Solutions 58.7 +2% +12% - Printer growth Printer total: –4% Printer non-hard: –2% -4.1% (+4.6%) (by value, LC base) (by value, LC base) (by value, LC base) (by value, LC base) - Color ratio (by value, for machine only) MFP: 54%, Printer: 24% +30.1% (+36.0%) [ Appendix ] OP by quarterly 410.1 Imaging Solutions OP Margin 378.0 12.2% -7.8% (+1.2%) OP Margin 55.4 [ Sales ] (billions of Yen) 55.4 42.7 41.2 5.5% 23.8 23.8 [ OP ] [ Sales ] FY09/3 Q1 FY10/3 Q1 * Excluding “Corporate and Eliminations” 5.9 [ OP ] (billions of Yen) Q1 Q2 Q3 FY09/3 Q4 Q1 FY10/3 July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 5 Topics for Imaging & Solutions Q1 new products MFP Printer Production Printing (Overseas) MP 6001, MP 7001, MP 8001, MP 9001 (Japan) GX e3300 (Overseas) SP C232DN, SP 4210N, GX e3300N (Japan) InfoPrint5000(high performance version) (Overseas) Pro C550EX, Pro C700EX, Pro 907EX, Pro 1107EX, Pro 1357EX Pro C700EX MP 9001 Pro 1357EX GX e3300 Topics - Managed Document Service offering in U.S. with combination of Ricoh & IKON - Managed Print Service strengthened in Europe - Collaboration with IBM Tivoli & WebSphere - Ricoh IT Solutions Co., established in Japan - Total Green Office Solution released in U.S. July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 6 FY2010/3 Q1 Business Segment - Business almost on track Industrial Products - Start to recover Total Total 34.2 25.6 [ Example of products ] -25.1% 1.1 Semiconductors Intersegments 33.0 0.8 Electric components [ Appendix ] OP by quarterly -22.8% (billions of Yen) 1.0 Unaffiliated customers 24.7 OP Margin Thermal media 2.9% -25.2% (-22.0%) OP Margin 1.0 -0.2 -1.4% -0.3 -1.7 -0.3 [ Sales ] [ OP ] [ Sales ] FY09/3 Q1 [ OP ] FY10/3 Q1 -3.9 Q1 Q2 Q3 FY09/3 * Excluding “Corporate and Eliminations” Q4 Q1 FY10/3 (billions of Yen) July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 7 FY2010/3 Q1 Business Segment - Business almost on track Other - DC business Expanding lineup CX1 33.2 29.8 GR Digital III -10.3% (-9.8%) [ Appendix ] OP by quarterly (billions of Yen) 1.0 0.5 OP Margin 1.5% OP Margin 0.5 –0.9% -0.2 -0.2 Q4 Q1 -0.2 [ Sales ] [ OP ] [ Sales ] FY09/3 Q1 -1.0 [ OP ] FY10/3 Q1 Q1 Q2 Q3 FY09/3 * Excluding “Corporate and Eliminations” FY10/3 (billions of Yen) July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 8 FY2010/3 Q1 Geographic Segment * Excluding “Corporate and Eliminations” (billions of Yen) Japan The Americas 143.2 +39.8% 364.4 102.5 300.9 -17.4% OP Margin 7.2% OP Margin OP Margin OP Margin 0.9% -1.2% -3.3% 2.5 -1.2 -4.7 26.0 [ Sales ] [ OP ] [ Sales ] FY09/3 Q1 [ OP ] [ Sales ] FY10/3 Q1 [ OP ] [ Sales ] FY09/3 Q1 [ OP by quarterly ] [ OP ] FY10/3 Q1 [ OP by quarterly ] 26.0 21.6 -1.2 12.4 -4.0 -4.7 -7.3 1.4 2.5 -13.2 Q1 Q2 Q3 FY09/3 Q4 Q1 FY10/3 Q1 Q2 Q3 FY09/3 Q4 Q1 FY10/3 July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 9 FY2010/3 Q1 Geographic Segment * Excluding “Corporate and Eliminations” (billions of Yen) Europe Other 148.9 115.1 -22.7% 74.8 OP Margin 7.8% 11.6 [ Sales ] [ OP ] [ Sales ] FY09/3 Q1 OP Margin OP Margin 4.6% 6.1% 5.2 4.5 [ OP ] [ Sales ] FY10/3 Q1 57.6 -22.9% OP Margin 4.2% 2.4 [ OP ] [ Sales ] FY09/3 Q1 [ OP by quarterly ] [ OP ] FY10/3 Q1 [ OP by quarterly ] 11.6 8.4 6.6 5.2 4.5 3.7 2.6 1.7 Q1 Q2 Q3 FY09/3 -7.3 Q4 Q1 FY10/3 Q1 Q2 Q3 FY09/3 Q4 2.4 Q1 FY10/3 July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 10 Balance Sheet as of June 30, 2009 Assets Liabilities and Equity As of Dif ｆ . from Jun 30, 2009 Mar 31, '09 (billions of yen) Current Assets Cash & time deposits Trade recievables Inventories Other current assets Fixed Assets Tangible fixed assets Finance recievable Other investments 1,122.6 197.9 651.6 193.3 79.7 -89.2 -62.6 -28.7 +1.7 +0.3 1,301.7 268.0 458.7 574.9 +0.1 -1.2 -6.5 +7.9 (billions of yen) 645.5 246.4 170.6 228.4 -127.9 -39.0 -99.1 +10.1 Total Equity 752.3 551.0 153.8 47.4 1,397.9 977.0 49.4 1,026.4 +36.7 +41.6 -2.7 -2.1 -91.2 +1.6 +0.4 +2.1 Total liabilities and Equity 2,424.3 -89.1 721.6 -57.5 Current Liabilities Trade payables Short-term borrowings Other current liabilities Fixed Liabilities Long-term indebtedness Accrued pension&severance costs Other fixed liabilities Total Liabilities Total Shareholders' Investment Noncontrolling Interest Total Assets 2,424.3 -89.1 Exchange rate as of June 30, 2009 : US$ 1 = ¥ 96.01 ( - 2.22) EURO 1 = ¥ 135.53 ( +5.69) As of Dif ｆ . from Jun 30, 2009 Mar 31, '09 Total debt July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 11 Balance Sheet Indexes Total assets turn over (per month) 0.95 0.96 0.97 1.00 0.88 2,513.4 1,953.6 2,041.1 2,243.4 2,214.3 0.92 Equity ratio 47.7% 48.8% 44.2% 47.0% 0.80 2,304.7 2,424.3 862.9 960.2 1,070.9 1,080.1 48.7% 40.3% 38.8% 1,123.4 975.3 977.0 Shareholders’ equity (billions of Yen) Total Assets (billions of Yen) End of ‘05/3 End of ‘06/3 End of ‘07/3 End of ‘08/3 End of ‘09/3 End of ‘08/6 End of ‘09/6 End of ‘05/3 Inventories/Averaged cost of sales (month) 2.24 1.90 1.82 1.83 1.78 1.86 184.3 192.0 191.5 End of ‘06/3 End of ‘07/3 End of ‘08/3 169.2 D/E ratio 1.99 0.80 0.48 0.40 0.39 D/E ratio exclude RL 0.22 Total debt 410.1 (billions of Yen) End of ‘06/3 End of ‘07/3 End of ‘08/3 End of ‘09/3 End of ‘08/6 End of ‘09/6 End of ‘09/6 0.17 0.18 0.74 0.37 0.36 0.46 193.3 Inventories (billions of yen) End of ‘05/3 End of ‘08/6 Debt/Equity ratio (multiplies) 218.7 167.4 End of ‘09/3 Total debt exclude RL (billions of Yen) *RL=Ricoh Leasing Co. 381.2 415.6 0.15 384.3 192.2 160.5 189.2 165.3 End of ‘05/3 End of ‘06/3 End of ‘07/3 End of ‘08/3 0.45 0.15 779.1 721.6 450.3 420.1 440.7 173.2 End of ‘09/3 End of ‘08/6 End of ‘09/6 July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 12 FY2010/3 Q1 Statement of Cash Flow < 3 months > (billions of yen) Consolidated net income Depreciation and amortization [ Cash profit (Net income + Depreciation and amortization) ] Other operating activities Net cash by operating activities Plant and equipment Purchase of business 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 FY09/3 Q1 26.9 24.3 [ 51.2 ] -41.0 10.2 -20.4 -4.7 -5.5 -30.6 [ -20.3 ] 18.0 6.0 3.6 174.3 FY10/3 Q1 1.5 23.8 [ 25.3 ] 7.2 32.5 -17.2 -4.7 -4.6 -26.5 [ 5.9 ] -69.9 1.6 -62.3 196.0 July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 13 FY2010/3 forecast (revised) FY09/3 Results (billions of yen) Net sales FY10/3 forecast (on Apr '09) FY10/3 Forecast Y-o-Y comparison by new forecast Change Change(%) Change(%) without Forex -4.6% (Japan) 938.3 940.0 895.0 -43.3 -4.6% (Overseas) 1,153.3 1,220.0 1,170.0 +16.6 +1.4% +10.9% Total 2,091.6 2,160.0 2,065.0 -26.6 -1.3% 854.3 880.0 825.0 -29.3 -3.4% 40.8% 40.7% 40.0% Gross profit net sales % Q2-Q4 forex assumption 1US$ 1EURO +3.9% 74.5 net sales % Income before income taxes net sales % Net income attribute to Ricoh Co, net sales % (Yen) 40.0 3.6% 3.0% 1.9% 30.9 55.0 30.0 1.5% 2.5% 1.5% 6.5 30.0 10.0 0.3% 1.4% 0.5% -34.5 -46.3% FY09/3 FY10/3 result forecast -0.9 -3.0% +3.4 +53.1% Imaging&Solutions (OP margin 145.3 100.0 7.9% 5.5%) Industrial Products (OP margin -4.9 0.0 -4.1% 0.0%) Other 0.3 1.0 (OP margin 0.3% 0.7%) * Excluding “Corporate and Eliminations” Investment 9.02 41.44 13.78 +4.76 (billions of yen) US $1 100.55 95.00 91.88 -8.67 (% on sales Euro 1 143.74 125.00 130.68 -13.06 EPS (Yen) Exchange rate 65.0 ¥130.00 OP by business segment (billions of yen) Operating income ¥90.00 R&D CAPEX Depreciation &Amortization FY09/3 FY10/3 result forecast 124.4 116.0 5.9% 5.6%) 96.9 74.8 95.0 77.0 July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 14 FY2010/3 Income before tax forecast y-o-y comparison (billions of yen) Operating Income Items 8.4 9.0 R&D Cost Down 41.9 18.7 Other expenses Forex, net Sales (Gross profit) Expenses 30.9 33.5 28.7 FY09/3 “ ” shows profit increase and “ Forex assumptions (yen) US$ EURO FY09/3 result 100.55 143.74 FY10/3 forecast difference 91.88 -8.67 130.68 -13.06 ” shows profit decrease in this chart. Forex impacts (billions of yen) Sales Impacts of forex per yen annually US$ EURO 6.5 3.5 30.0 (-0.9) FY10/3 forecast Pre-tax profit 1.3 1.5 July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 15 FY2010/3 direction Sales y-o-y (%) 16.9% *Including forex impact for Overseas Overseas 19.3% 14.3% Japan Overseas (excluding InfoPrint&IKON impact) 3.1% 1.8% 3.0% - Production Printing business - IT service & Solutions business - IKON - Structural Reform 3.3% 0.8% -2.2% 4.2% -1.1% -1.4% -7.2% -3.8% -4.4% 2.3% -8.6% Operating Income (billions of yen) 46.6 49.4 47.4 37.9 -1.2% -1.4% -9.6% -11.1% -10.7% -12.5% -11.6% 39.7 25.3 29.0 21.3 6.0 4.9 11.0 -11.8 Q1 Q2 Q3 FY08/3 Q4 Q1 Q2 Q3 FY09/3 Q4 Q1 Q2 1H 2H forecast forecast forecast FY10/3 July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 16 Annual Financial Indexes Dividend Financial Indexes ～ 365.9% 1.8% 2.3% 2.2% 2.0% 153.10 10.0% 10.6% 7.1% 7.8% 22.6% 18.1% 18.3% 1.9% ROE ～ Consolidated Payout Ratio ( Dividend per share / EPS ) 17.8% 239.5% 2.4% 8.1% 7.8% 1.3% 0.6% 111.7 146.04 1.3% 1.0% 106.4 97.0 EPS (Yen) 112.64 9.9% Income before Tax on total assets DOE 132.33 11.0% 83.1 Dividend per share (Yen) Net income (billions of yen) 20 24 28 33 9.02 33 33 13.78 FY05/3 FY06/3 FY07/3 FY08/3 FY09/3 FY10/3 forecast 6.5 10.0 FY05/3 FY06/3 FY07/3 FY08/3 FY09/3 FY10/3 forecast July 31, 2009 (C)2009 Ricoh Company, Ltd. All Rights Reserved. 17