Presentation (PDF : 974KB)

Consolidated
Results for the
year ended
March 31,
2016
April 28, 2016
Zenji Miura
President & CEO
Ricoh Company, Ltd.
The new RICOH MP C6004 color multifunction printer and
its advanced MultiLink-Panel （Smart Operation Panel)
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
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 themselves.
We have adopted a net basis for reporting a portion of lease transactions from this fiscal year in place of gross basis. Past sales figures
and related indicators have also been adjusted retroactively to conform to the current year.
April 28, 2016
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1
About the Kumamoto Earthquakes
Impact on the Ricoh Group
•
Buildings at some business sites damaged
•
Transportation network interruptions hampered logistics
•
Local sales and service activities affected
•
Production unaffected thus far
Assistance for customers in quake-hit areas
April 28, 2016
•
Providing ongoing operational support through collaboration with
Ricoh Japan
•
Offering repairs at specially discounted prices
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2
1. Results of FY16/03
April 28, 2016
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3
Key Indicators
FY16/03
Sales
Operating profit
2,209.0 bil. Yen
+2.7%
102.2 bil. Yen
-11.6%
4.6%
-0.8 pt
62.9 bil. Yen
-8.1%
Operating margin
Profit attributable to owners of the
parent
EPS
86.87 yen
-7.71 yen
ROE
5.8%
-0.7 point
51.5 bil. yen
+22.1 bil. Yen
118.5 bil. yen
-0.1 bil. Yen
Capital expenditures
83.7 bil. yen
+7.8 bil. Yen
Depreciation
68.7 bil. Yen
-2.1 bil. yen
FCEF*
R&D expenditures
120.12 yen
132.68 yen
Exchange rate Yen/US$
Yen/Euro
April 28, 2016
Change
＊FCEF : Free cash flow excluding finance business
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+10.23 yen
- 6.17 yen
4
FY2016/03 Operating Profit Comparisons
• Earnings down owing to such factors as measures to boost sales, intensified competition,
and foreign exchange fluctuations
• Groupwide structural reforms helped to lower costs
(billions of yen)
+28.7
-13.4
-9.7
+8.2
-4.1
-36.6
115.7
Sales
&
Product
Mix
Lower
Product
costs
R&D
Other
Expenses
102.2
SG&A expense reduction +11.9
Other Income +16.8
FY16/03
Operating
Profit
FY15/03
Operating
Profit
April 28, 2016
Forex,
net
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5
Overview of FY16/03
Imaging & Solutions
(Sales up, earnings down)
Office imaging: Machine-in-field growth, signs of non-hardware recoveries in Japan and Europe
Production printing: Steady revenue and earnings gains
Network system solutions: Expanded business scale through ongoing efforts to strengthen
structures
Industrial Products
(Sales and earnings up)
Inkjets: Strategically reinforced structure to drive industrial printing growth
Industrial: Expanded automotive product range and bolstered factory automation lineup
Other
(Sales down, earnings up)
Leasing and finance: Steadily increased earnings
Digital cameras: Spherical models continued to do well, but digital SLR market stagnated
New Business Creation
Strengthened structure and lineup for 3D printers in additive manufacturing business
Opened facilities to promote the environmental business
Entered the healthcare field
April 28, 2016
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6
Imaging & Solutions: Status of reinforcing earnings
power for Core Businesses
Expanded number of machines in field, particularly in color MFPs and
production printing. Proportion of color models increased. Non-hardware
recoveries began in some regions.
■MIF YoY changes (as of end-Dec 2015) MIF: Machines in Field
ＭＩＦ
Color MIF portion
MFP
+0.8%
52.2％（+2.9pt）
PP
+7.0%
44.7％（+6.3pt）
Operating income
-14%
*Imaging & Solutions
segment
■ YoY changes for MFPs, Printers, and Production Printing combined
Non-hardware
1%
(Value, excl. forex)
1%
-1%
-2%
Hardware
April 28, 2016
-1%
-2%
-1%
-2%
2013/03
FY16/03
Hardware
-1%
FY 2012/03
By category
Unit Value
MFP
+1% -4%
Printer +3% +1%
+10% +19%
PP
Total
-1%
-3%
2014/03
2015/03
Non-hardware
Value
-3%
-1%
+6%
-1%
（Value, excl. Forex）
2016/03
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7
Expanded Production Printing Businesses
Increased share in-plant printing market while expanding into commercial
printing market
Production Printing (PP) sales
High
Sales
+16%
Increased share in in-plant printing market
with our competitive product lineup
Made steady progress in expanding into
commercial printing market
Provided one-stop support encompassing
everything from sales planning through
advertising media and promotional
materials production processes
Low
(bil. Yen)
250.0
200.0
Customer highlights
Hotel: Created website and printed materials for
commemorative campaign
150.0
100.0
Retailer: Created promotional flyers for
underperforming stores and mapped showroom
promotions
■Production Printers
(excl. color cut-sheet and continuous feed models)
50.0
■Color cut-sheet and continuous feed printers
0.0
FY11/03 FY12/03 FY13/03 FY14/03 FY15/03 FY16/03
April 28, 2016
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Expanded IT Services (Network System Solutions)
Sales
Reinforced structure to expand worldwide scale of IT services
+11%
IT services and visual communications sales*
*Including network solutions
ADA
IMC Communications
01 Innnovations
(bil. Yen)
Momentum
Aventia
mindSHIFT
Npo Sistemi
FutureTech
Ridgian
Graycon
Nassion
Capa4
Upfront
150.0
Strategic IT services firm acquisitions
drove services sales expansion
Endeavored to enhance profitability by
deploying common global high-valueadded lineup and infrastructure
Leveraged products and services
integrating IT services and imaging and
visual communications in efforts to
propose new value
100.0
50.0
0.0
FY11/03 FY12/03 FY13/03 FY14/03 FY15/03 FY16/03
April 28, 2016
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9
Expanded new businesses in Industrial Products
Sales
Inkjet businesses
Sales
Industrial
+27%
(Industrial)
Generated solid growth with
proprietary ultraviolet ink for inkjet
heads, where we are the market
leader
+5%
Expanded automotive business sales
Launched manufacturing equipment
sales to expand factory automation
business
Collaborated with Hitachi High-Tech
Fine Systems in developing and
selling decorative printing systems
Acquired AnaJet, a top U.S. direct-togarment printer manufacturer
Picking system
Laser patterning equipment
mPower mP10i direct-to-garment printer
Automated conveyance
inspection system for film sheets
April 28, 2016
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10
Cultivated New Businesses
Additive Manufacturing
Eco Business
Healthcare
Deployed RICOH Rapid
Fab services in Japan and
Europe
Opened Ricoh Eco
Business Development
Center
Offered 3D printer sales
and output services and
consulting services
Augmented reuse and
recycle initiatives by
deploying new eco
businesses
Entered this field by
acquiring brain activity
measurement business
from Yokogawa Electric
Launched the first Ricohbranded 3D printer
Accelerated R&D into
biomagnetic measuring
devices
RICOH AM S5500P
April 28, 2016
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(C)2015
11
2. Management Plan for FY17/03
April 28, 2016
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Key Initiatives in FY17/03
Operating climate
Macro environment remaining uncertain
Exchange rate fluctuations
Customers
Accelerating shift from "ownership" toward "usage"
Strong demand for cost reductions and efficiencies
Competitors
Intensifying competition
Business reorganizations and shifts into new fields
Reinforcing earnings power for Core Businesses
Key initiatives
in FY17/03
Accelerate profit contribution through new businesses
Further improve and refine companywide structure
April 28, 2016
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Key Initiative 1: Reinforcing earnings power for Core
Businesses
Further increase value delivered to customers
Gross margin
+0.5%
(Target)
Roll out advanced MFPs that enhance business
efficiency
Cloud
Reinforce vertical sales and marketing structures
Healthcare
Finance
Education
Manufacturing
Etc.
Work process
enhancement apps that
are ideal for each
customer
Reinforce collaboration with external partners to
boost value delivered to customers
Expand maintenance services beyond imaging
systems
April 28, 2016
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Key Initiative 2: Accelerate profit contribution through
new businesses
Investing intensively in promising industrial printing field
Sales
+70%
Expanding value from device supply to print systems business
(Target)
Leveraging collaboration and acquisitions to secure required resources
Decorations
Labels and packaging
Textiles
Signage
Application
Solutions
Systems
Collaboration with
Hitachi High-Tech Fine
Systems
AnaJet
acquisition
Ultraviolet light curing inkjet ink
Offering outstanding hardness and adhesion while lowering environmental
impact and alleviating worker burdens
MH/GH series industrial inkjet heads
Devices
April 28, 2016
Delivering high durability and resolution and catering for a wide range of inks
and accommodating high-viscosity inks
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Key Initiative 3: Further improve and refine companywide
structure
Employ resources efficiently and reduce fixed costs over medium term
Area
April 28, 2016
Main initiatives
Sales and Maintenance
services
Optimize sales structure, review sales
processes, harness maintenance services
structure more effectively and eliminate
inefficiencies, etc
Production
Review production sites and roles, etc
R&D
Review development units and roles and
revise development processes, etc
Headquarters functions
Review business processes and
outsource indirect operations, etc
Human resources
optimization
Optimally allocate and shift human
resources into growth areas, etc
Asset reviews
Continue to review assets
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16
FY2017/3 Forecast
FY16/3
FY17/3
Forecast
Change
2,209.0 bil. Yen
2,170.0 bil. Yen
-1.8%
1,02.2 bil. Yen
77.0 bil. Yen
-24.7%
4.6%
3.5%
62.9 bil. Yen
44.0 bil. Yen
EPS
86.87 Yen
60.70 Yen
ROE
5.8%
4.0%
51.5 bil. Yen
30.0 bil. Yen
+21.5 bil. Yen
118.5 bil. Yen
128.5 bil. Yen
+9.9 bil. Yen
Capital expenditures
83.7 bil. Yen
90.0 bil. Yen
+6.2 bil. Yen
Depreciation
68.7 bil. Yen
74.0 bil. Yen
+5.2 bil. Yen
120.12 Yen
132.68 Yen
110.00 Yen
125.00 Yen
-10.12 Yen
- 7.68 Yen
Sales
Operating profit
Operating margin
Profit attributable to owners of
the parent
FCEF *
R&D expenditures
Exchange rate Yen/US$
Yen/Euro
April 28, 2016
＊FCEF :Free Cash flow Excluding Finance business
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-1.1pt
-30.1%
-26.17 Yen
-1.8 pt
17
Full-Year Operating Profit Comparisons
• Looking to increase earnings by expanding value-added sales and boosting
contributions from production printing and industrial printing businesses
• Will make forward investments while improving and refining companywide
structure to eliminate inefficiencies
(billions of yen)
+10.0
+1.0
+6.2
-9.0
-16.8
102.2
Nonrecurring
income in
previous year
85.4
85.4
Sales
&
Product
Mix
85.4
Lower
Product
costs
R&D
91.6
92.7
-25.3
Other
Expenses
92.7
FY16/03
Operating
Profit
-16.7
Forex,
net
77.0
77.0
FY17/03
Operating
Profit
Forecast
April 28, 2016
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18
Improving Corporate Governance to Enhance Fairness
and Effectiveness
Executive directors
Outside directors
Now
From June 2016*
Nonexecutive directors
Board of Directors
Board of Directors
Chairman of the Board
Chairman of the Board
Majority of
nonexecutive
directors
Outside Directors
Outside Directors
Nonexecutive Directors
Internal Directors
Executive Directors
Committees
Nomination and
Compensation Committee
Committees
Nomination Committee
Compensation Committee
Committee Chairman
Committee Chairman
Committee Chairman
Outside Directors
Outside Directors
Outside Directors
Internal Directors
Internal Directors
Internal Directors
*Based on agenda proposal for Annual General Meeting of Shareholders in June 2016
April 28, 2016
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19
Shareholder Returns
Revised shareholder returns policy
Before
We seek to enrich internal reserves to establish a firmer financial footing and to support new business development.
At the same time, we recognize the importance of a good return of profits to shareholders endeavor to provide a stable
dividend with the consolidated payout ratio in mind. We will continue to strive for an appropriate return to
shareholders, with a total consolidated payout ratio in the vicinity of 30%.
New
We seek to enrich internal reserves to establish a firmer financial footing and to support new business development.
At the same time, we recognize the importance of a good return of profits to shareholders, and will endeavor to stably
increase dividends, maintaining a total consolidated payout ratio of 30% to 50%.
ＲＯＥ／ＲＯＡ*
Dividends per share (Yen)
*On pretax basis
45.0
7.5%
●ROE
●ROA
6.5%
Planned commemorative dividend →
5.8%
4.0%
3.8%
4.7%
-1.4%
4.2%
2.5%
3.5%
2.5%
-5.1%
FY12/03
Payout
ratio
FY13/03
US-GAAP
April 28, 2016
Annual
dividends
FY14/03
FY15/03
FY16/03
ＩＦＲＳ
FY17/03
Forecast
FY12/03
FY13/03
(Loss)
64%
FY14/03
FY15/03
FY16/03
36%
40%
FY17/03
見通し
74%
Excluding commemorative dividend → 57%
32%
* Dividends for FY17/03 including ¥10 per share payment to commemorate
Ricoh's 80th anniversary.
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20
3. FY16/03 Results materials
April 28, 2016
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21
FY2016/03 Profit Statement
FY2015/03
Results
(billions of yen)
Sales
FY2016/03
forecast
(on Feb '16)
FY2016/03
Results
Y-o-Y Comparison
Change
Change(%)
without Forex
(Japan)
759.5
765.0
761.5
+2.0
+0.3%
+0.3%
(Overseas)
1,391.8
1,485.0
1,447.4
+55.6
+4.0%
+1.4%
Total
2,151.4
2,250.0
2,209.0
+57.6
+2.7%
+1.0%
906.9
907.0
881.9
-24.9
-2.8%
42.2%
40.3%
39.9%
791.1
791.0
779.6
-11.4
-1.5%
36.8%
35.2%
35.3%
115.7
116.0
102.2
Gross profit
sales %
SG&A
sales %
Operating profit
sales %
Profit before income tax expenses
5.4%
5.2%
4.6%
112.2
111.0
95.6
-13.4
-16.6
4.3%
Profit attribute to owners of the parent
68.5
71.0
62.9
sales %
3.2%
3.2%
2.8%
94.58
97.94
+10.23
-6.17
Exchange rate
US $1
109.89
121.26
(Yen)
Euro 1
138.85
133.32
132.68
-11.6%
118.7
118.5
5.5%
5.4%
CAPEX
75.9
Depreciation
70.9
83.7
68.7
R&D
-14.8%
(tangible fixed assets)
4.9%
86.87
120.12
FY15/03 FY16/03
% on sales
5.2%
EPS (Yen)
<Investment>
(billions of yen)
sales %
April 28, 2016
Change(%)
-5.5
-8.1%
-7.71
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<FY2016/03 Q4 forex assumptions>
Q4
forecast
1US$
120.00JPY
1Euro
130.00JPY
22
Business Segments (1)
Imaging & Solutions
(billions of yen)
yoy
1,974.5 +3.0%
1,916.6
Network
System
Solutions
(Excl. forex)
284.9
318.6 (+1.3%)
191.9
223.8
Highlights
Office Imaging
-0.5% (-2.4%)
Expanded A4 MFP lineup with SP 3610SF,
MP C306, and MP 305+
Reinforced Eastern European sales
structure by acquiring Czech and Slovakian
operations of Impromat
Production Printing
+16.6% (+13.1%)
Expanded in commercial printing market:
Operating
margin
Operating
margin
9.0%
Office
Imaging
( Excl. forex）
MP 305+
Production
Printing
1,439.
7
yoy
7.5%
1,432.
0
RICOH Pro C7100/C9100 remained popular
RICOH Pro VC60000 sales grew
Network System Solutions
172.2
147.7
+11.8% (+11.8%)
Overseas IT services expanded
Kept investing to reinforce IT services structure:
Acquired Ridgian（UK), Graycon （Canada）, Nassion
(Malaysia）, Capa 4 (Mexico） and Upfront （Belgium）
Sales
Operating
profit
FY15/03
Sales
Operating
profit
Steadily expanded visual communications business
overseas
FY16/03
Note: Excluding corporate and eliminations.
April 28, 2016
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23
Business Segments (2)
Industrial Products
(billions of yen)
Highlights
Expanded thermal media business in Indonesia, setting
up a company to process and market thermal ribbons
yoy
125.4
117.7
+6.5%
(Excl. Forex)
（+5.2%）
Expanded industrial inkjet business in industrial printing
and 3D printer areas
Acquired AnaJet
Increased optical module sales
Rolled out automotive power management
semiconductors and set up European sales units
Launched two factory automation systems
Operating
margin
8.0%
Operating
margin
4.9%
11.0
6.3
Sales
Operating
profit
FY15/03
Sales
Operating
profit
FY16/03
Note: Excluding corporate and eliminations.
April 28, 2016
RICOH RL series picking
system, which automates
picking through parts
assembly
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RICOH LA-1100, a performance
laser patterning system for
simultaneous transparent
conductive film and silver
extraction electrode processing
24
Business Segments (3)
Other
(billions of yen)
Highlights
Lower sales owing to divestment of apparel business
Strengthened camera lineup with high-end GRII compact
model and water- and impact-resistant RICOH WG-40W
yoy
-6.8%
(Excl. Forex)
（-6.9%）
In camera business, expanded spherical imaging
solutions by enhancing image processing and resolution
of THETA S and bolstered business-to-business
solutions in real estate and other areas
PENTAX launched K-1, its first full-frame digital SLR
Operating
margin
Operating
margin
1.3%
-2.6%
PENTAX K-1
Sales
Operating
profit
FY15/03
Sales
Operating
profit
FY16/03
Note: Excluding corporate and eliminations.
April 28, 2016
RICOH WG-40W
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RICOH THETA
25
Statement of Financial Position as of Mar 31, 2016
Assets
Liabilities and Equity
As of
Mar 31, 2016
Change
from Mar
31, '15
1,273.1
+56.8
Cash & time deposits
168.5
+29.8
Trade and other receivables
564.2
Other financial assets
Inventories
(billions of yen)
Current Assets
Other current assets
As of
Mar 31, 2016
Change
from Mar
31, '15
806.8
+34.7
Bonds and borrowings
260.7
+38.6
+10.6
Trade and other payables
286.1
+9.1
272.3
+12.2
Other current liabilities
259.9
-13.0
207.0
-17.3
Non-current Liabilities
821.8
+18.0
61.0
+21.3
Bonds and borrowings
592.0
+23.5
Accrued pension&retirement benefits
139.0
-5.1
90.7
-0.3
1,628.6
+52.8
1,077.8
-6.3
69.9
-0.1
Total Equity
1,147.7
-6.5
Total Liabilities and Equity
2,776.4
+46.2
852.8
+62.2
1,503.2
-10.5
Property, plant and equipment
276.5
-0.0
Goodwill and intangible assets
413.8
-21.9
Other financial assets
620.1
+18.3
Other non-current assets
192.7
-6.9
2,776.4
+46.2
Non-current assets
Total Assets
Exchange rate as of Mar 31, ‘16 :
US$ 1
= ¥ 112.68
EURO 1
= ¥ 127.70
April 28, 2016
(Diff.from Mar 31, ‘15)
( - 7.49)
( - 2.62)
(billions of yen)
Current Liabilities
Other non-current liabilities
Total Liabilities
Total equity attributable to owners
of the parent
Noncontrolling Interest
Total Debt
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26
Statement of Financial Position as of Mar 31, 2016
Inventories/Averaged cost of sales ratio (month)
2.03
2.16
2.03
1.87
1.76
224.4
195.0
195.3
Equity attributable to owners of the parent ratio
194.1
35.9%
38.0%
822.7
897.9
207.0
End of
Mar
‘13
End of
Mar
‘14
US-GAAP
End of
Mar
‘15
End of
Mar
‘16
0.83
0.89
2,596.6
2,289.3
End of
Mar
‘12
End of
Mar
‘13
End of
Mar
‘14
US-GAAP
ＩＦＲＳ
Total assets turn over (per month)
0.84
1,029.4
39.7% 38.8%
1,084.1
1,077.8
Equity Attributable to owners of the parent
(billions of yen)
Inventories (billions of yen)
End of
Mar
‘12
39.6%
0.79
0.80
2,730.2
2,776.4
End of
Mar
‘15
End of
Mar
‘16
ＩＦＲＳ
Net debt/equity ratio (multiplies)
0.71
0.65
0.56
583.1
582.4
580.0
2,360.6
0.60
0.63
651.9
684.2
Net debt(billions of yen)
Total Assets (billions of Yen)
*Net debt excluding Finance business
(130.8)
End of
Mar
‘12
End of
Mar
‘13
US-GAAP
End of
Mar
‘14
End of
Mar
‘15
ＩＦＲＳ
End of
Mar
‘16
End of
Mar
‘12
End of
Mar
‘13
US-GAAP
End of
Mar
‘14
End of
Mar
‘15
(178.7)
End of
Mar
‘16
ＩＦＲＳ
Due to the change in lease transaction reporting , Inventories/Averaged cost of sales ratio and Total assets turnover in end of December, 2014
and end of March, 2015 have been adjusted to conform to the current year figures.
April 28, 2016
(C)2016 Ricoh Company, Ltd. All Rights Reserved
27
FY2016/03 Statement of Cash Flows
Generated ¥51.5 bil. in FCEF by improving working capital and reviewing assets
(billions of yen)
Profit
Depreciation and amortization
[ Net profit + 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
Increase (Decrease) of debt
Dividend paid
Other financing activities
Net cash by financing activities
Effect of exchange rate
Net increase in cash and equivalents
Cash and equivalents at end of period
Free cash flow ( Operating + Investing net cash )
FCEF (Free cash flow excluding finance business)
FY2015/03
Apr-Mar
FY2016/03
Apr-Mar
73.6
107.8
[ 181.5 ]
-78.9
102.5
-72.9
-9.7
-60.7
-143.4
54.9
-24.2
-0.7
29.9
8.6
-2.3
137.7
67.3
107.3
[ 174.6 ]
-74.8
99.8
-62.7
-5.6
-35.6
-104.1
70.8
-25.0
-3.1
42.6
-8.5
29.8
167.5
-40.9
-4.2
29.4
51.5
FCF
FCF
Annual
FCEF
51.5
29.4
23.9
18.0
0.0
-4.2
-40.9
-101.2
FY
12/03
FY
13/03
FY
14/03
FY
15/03
FY
16/03
ＩＦＲＳ
US-GAAP
Free cash flow (billions of yen)
FCF
FCF
Quarterly
FCEF
60.7
50.6
44.5
37.9
39.7
34.0
19.5
0.0
4.8
1.1
0.9
-7.1
-29.7-31.5-21.2
-36.1
-30.1
-51.7
Q4
Q1
‘14/03
Q2
Q3
Q4
Q1
Q2
Q3
Q4
2016/03
2015/03
IFRS
＊FCEF : Free cash flow excluding finance business
April 28, 2016
(C)2016
(C)2015 Ricoh Company, Ltd. All Rights Reserved
28
Appendix: Key Figures for FY2016/03
Financial Statements excluding Finance Businesses
*Finance: Finance business Ricoh conducts globally
(billions of yen)
1.Profit Statement
Sales
Operating profit
Consolidated
Products & Services
2,209.0
2,148.3
102.2
71.1
Finance
143.1
31.2
Consolidated
Products & Services
2,776.4
1,891.8
887.7
-
Finance
1,089.4
887.7
2.Statement of Financial Position
Assets
Financial Assets
Liabilities
Interest-bearing debt
Total Equity
Net debt
1,628.6
852.8
1,147.7
884.5
137.7
1,007.3
949.0
867.1
140.4
684.2
△178.7
863.0
Consolidated
Products & Services
△4.2
51.5
Finance
△55.7
3.Statement of Cash Flow
Free cash flow
<Key Financial Ratios>
ROA
ROE
Equity ratio
D/E ratio
Total assets turn over
Consolidated
Products & Services
3.5%
3.4%
5.8%
4.9%
38.8%
53.2%
79.1%
13.7%
0.80
1.13
This chart includes approximate calculations.
April 28, 2016
(C)2016 Ricoh Company, Ltd. All Rights Reserved
29
FY2017/03 Profit Statement Forecast
FY2016/03
Results
(billions of yen)
FY2017/03
Forecast
Y-o-Y comparison
Change
Change(%)
Change(%)
without Forex
(Japan)
761.5
768.0
+6.4
+0.8%
+0.8%
(Overseas)
1,447.4
1,402.0
-45.4
-3.1%
+3.3%
Total
2,209.0
2,170.0
-39.0
-1.8%
+2.4%
881.9
852.0
-29.9
-3.4%
39.9%
39.3%
779.6
775.0
-4.6
-0.6%
35.3%
35.7%
102.2
77.0
4.6%
3.5%
95.6
72.0
sales %
4.3%
3.3%
Profit attribute to owners of the parent
62.9
44.0
sales %
2.8%
2.0%
86.87
-26.17
-7.68
Sales
Gross profit
sales %
SG&A
sales %
Operating profit
sales %
Profit before income tax expenses
Exchange rate
US $1
120.12
60.70
110.00
(Yen)
Euro 1
132.68
125.00
EPS (Yen)
April 28, 2016
Investment
(billions of yen)
FY16/03 FY17/03
result
forecast
118.5
128.5
5.4%
5.9%
CAPEX
83.7
Depreciation
68.7
90.0
74.0
-25.2
-24.7%
R&D
-23.6
-24.8%
% of sales
(tangible fixed assets)
-18.9
-30.1%
-10.12
(C)2016
(C)2015 Ricoh Company, Ltd. All Rights Reserved
30
FY2017/03 Sales Forecast by Category
By product category
By area
(billions of yen)
Y-o-Y (excluding Forex)
-1.8%(+2.4%)
2,209.0
2,170.0
109.0
125.4
117.1
143.6
+7.4%(+8.3%)
329.1
Industrial Products
318.6
223.8
231.0
Other
1,974.5
Production Printing
1,349.0
1,909.1
2,170.0
222.6
241.0
Other
+8.2%(+9.0%)
531.0
506.0
EMEA
-4.7%(+1.1%)
The Americas
-5.6%(+3.1%)
693.7
655.0
Overseas
1,447.4
+3.2%(+9.9%)
Office Imaging
-5.8%(-1.1%)
-1.8%(+2.4%)
2,209.0
+14.5%(+18.0%)
Network System
Solutions
+3.3%(+5.1%)
1,432.0
Y-o-Y (excluding Forex)
761.5
1,402.0
768.0
-3.1%(+3.3%)
Japan
+0.8%(+0.8%)
Imaging & Solutions
FY2016/03
April 28, 2016
FY2017/03
forecast
-3.3%(+1.1%)
FY2016/03
(C)2016 Ricoh Company, Ltd. All Rights Reserved
FY2017/03
forecast
31
Ａｐｐｅｎｄｉｘ
April 28, 2016
(C)2016
(C)2015 Ricoh Company, Ltd. All Rights Reserved
32
P/L by Business Segment (1)
Consolidated
+9.1%
588.7
+1.2% +0.4% +2.1% +0.4%
+0.9%
-0.3%
Imaging & Solutions
+8.8%
-0.5%
-2.6% -5.6%
506.5 526.0 538.8
579.9
539.1 556.0 548.6 565.1
+1.3% +1.2% +2.5% +0.0%
+1.1%
530.4
-3.0% -5.6%
450.5 464.3 479.1
522.5
481.4 496.5 490.0 506.4
Sales
Sales（bil.）
Change
(ex. Forex)
7.1%
5.4% 5.5% 5.6% 5.1%
6.4%
10.7%
5.3%
3.8%
6.6%
3.0%
9.4% 8.3%
5.6%
56.7
41.9
46.6
44.1 46.5
39.6 41.9
35.4
30.2 29.6
27.1 28.6
Operating
Profit
8.8% 9.0% 9.2% 8.9%
29.3
40.7
31.9
20.6
28.2
16.8
OP（bil.）
OP margin
2014/03 2015/03
Q4
April 28, 2016
Q1
2014/03 2015/03
2016/03
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q4
Q1
(C)2016 Ricoh Company, Ltd. All Rights Reserved
Q2
2016/03
Q3
Q4
Q1
Q2
Q3
Q4
33
Imaging & Solutions Supplement
Sales by
product category
Change
(ex. Forex)
Sales（bil.）
< MFP / Printer / PP combined y-o-y >
(Value, excluding Forex)
+1.0%
-1.5%
Hardware
-3.8%
382.1
343.0
344.5
-1.9%
-3.8%
-0.5%
367.4
384.5
361.3
-4.4%
-2.6% -2.2%
350.0
357.0
+5%
363.7
+2%
Office
Imaging
+1%
-3%
-1%
-3%
+11.2%
+11.8% +13.5% +15.8% +11.2%
+2.7% +3.3%
-3%
-4%
-4%
-1%
-3%
-5%
+0%
+1%
-3%
-3%
-2%
Q2
Q3
-4%
Non-hardware
-3.0% -0.7%
Production
Printing
50.7
46.9
41.9
48.9
54.0
50.7
57.4
57.3
58.3
Q1
2016/03
Q2
Q3
Q1
Q4
Q4
< Products & Services sales y-o-y >
+17.8%
+20.0% +22.1% +3.1%
+4.2%
+0.2%
-8.6% -15.4%
97.5
65.5
72.8
83.9
62.6
2014/03 2015/03
Q4
April 28, 2016
Q4
See Appendix for more data
+74.1%
Network
System
Solutions
2014/03 2015/03
Q1
89.1
69.4
75.6
84.3
Q3
Q4
2016/03
Q2
Q3
Q4
Q1
Q2
(Value, excluding Forex)
<FY2016/03>
Black & White Color
MFP
-12％
+0％
Office Printer
+4％
-4％
PP(Cut Sheet type)
-9％
+33％
Services*
+8%
(*Document, IT services excluding hardware sales of PC)
(C)2016 Ricoh Company, Ltd. All Rights Reserved
34
P/L by Business Segment (2)
Industrial Products
+8.6%
+8.1%
+4.9%
+1.8%
27.6 27.3
+3.3%
+6.2%
+5.1%
+2.2%
+1.6%
+1.4%
Other
+13.8%
-0.6% -2.5% -1.1%
32.3 31.2 30.7
29.6 30.8 29.8 31.0
30.6
32.0
-10.7% -7.6% -16.0%
-4.8%
28.8 27.5
26.6 27.0 27.4 27.9
28.5
Sales
Sales（bil.）
Change
(ex. Forex)
5.2%
6.9% 5.9%
3.9%
8.6% 8.9%
4.1%
1.9%
1.5%
2.6%
2.9
2.3
2.5
1.3
-2.4%
-11.1%
0.5
0.4
0.9
0.7
1.9
-0.1
1.5
1.1
OP（bil.）
-0.6
-1.1
0.8
OP margin
-3.0
2014/03 2015/03
Q4
April 28, 2016
3.4% 2.8%
-0.6%
-4.0%
3.1
2.3
Operating
Profit
6.7% 7.6%
Q1
2014/03 2015/03
2016/03
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q4
Q1
(C)2016 Ricoh Company, Ltd. All Rights Reserved
Q2
2016/03
Q3
Q4
Q1
Q2
Q3
Q4
35
P/L by Geographic Segment (1)
Japan
The Americas
+5.0%
+22.6%
+1.3%
+2.4% +2.6%
+0.6%
-3.5%
-8.3% -15.0% -3.1% -1.1%
-0.4%
-3.5%
157.0 147.3 156.9 169.0
175.2 174.2 178.6 171.8 169.0
243.5
185.5 189.1 177.8
206.9
212.4
179.8 187.1 182.1
-0.8%
-1.5% -0.4%
-3.2% -4.0%
Sales
Sales（bil.）
Change
(ex. Forex)
5.2%
4.6%
2.5%
1.3%
15.6
Operating
Income
5.5%
5.3%
2.9%
1.7%
-0.2%
4.2%
4.0% 3.2%
2.8%
17.5
17.3
3.5%
1.9% 2.6% 2.7%
1.8%
7.1
6.3
14.3
4.8
9.0
8.6
4.4
6.0
4.4
4.3
4.9
3.3
5.2
3.0
OP（bil.）
OP margin
-0.7
2014/03 2015/03
Q4
April 28, 2016
Q1
2014/03 2015/03
2016/03
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q4
Q1
(C)2016 Ricoh Company, Ltd. All Rights Reserved
Q2
2016/03
Q3
Q4
Q1
Q2
Q3
Q4
36
P/L by Geographic Segment (2)
Europe / Middle East / Africa
+2.7% +5.7% +4.3%
+0.7%
+7.4%
Other
+0.1%
-2.9%
-3.9% -3.4%
-2.9%
142.4
136.9 140.9 129.8 130.1 137.3 133.6
128.0 126.3
+11.8%
+10.8%+12.1%+10.8%+7.0% +6.6%
+5.3% +7.0%
45.7 45.5
60.0 57.3
53.6 54.9 56.7 55.2
50.0
Sales
Sales（bil.）
Change
(ex. Forex)
9.4%
3.6%
4.2%
3.5%
4.7%
2.9%
4.3%
4.9%
6.2%
4.4%
5.5%
7.1%
8.7%
7.6%
7.4%
5.1%
3.4%
4.0%
13.3
10.9
Operating
Income
4.6
5.2
6.6
4.7
5.5
6.7
6.0
4.2
3.7
OP（bil.）
9.3
8.8
8.2
8.9
5.9
4.4
3.2
OP margin
2014/03 2015/03
Q4
April 28, 2016
Q1
2014/03 2015/03
2016/03
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q4
Q1
(C)2016 Ricoh Company, Ltd. All Rights Reserved
Q2
2016/03
Q3
Q4
Q1
Q2
Q3
Q4
37
Appendix: historical data (1)
Imaging & Solutions sales portion by products
*Value based ratio including forex
FY2015/03
FY2016/03
FY15/03 FY16/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Total
Total
MFP
55%
52%
54%
52%
52%
48%
48%
49%
53%
49%
Office Printer
9%
9%
9%
9%
9%
9%
9%
9%
9%
9%
Production Printing(PP)
9%
10%
11%
10%
11%
12%
11%
11%
10%
11%
Office Imaging, other
5%
6%
4%
6%
6%
6%
8%
6%
5%
6%
MDS(Labor charge) & IT Services
12%
13%
13%
14%
14%
15%
14%
15%
13%
15%
Network System Solutions, other
10%
10%
9%
10%
9%
11%
10%
10%
10%
10%
MFP & printer Non-hardware ratio
FY2015/03
MFP
Office Printer
PP
April 28, 2016
FY2016/03
FY15/03
FY16/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Total
Total
Japan
55%
58%
56%
46%
67%
74%
67%
58%
53%
66%
Overseas
56%
54%
55%
54%
56%
54%
55%
52%
55%
54%
Total
56%
55%
55%
51%
59%
59%
59%
53%
54%
57%
Japan
89%
88%
91%
86%
90%
88%
88%
85%
88%
88%
Overseas
69%
70%
68%
66%
69%
68%
65%
67%
68%
68%
Total
78%
79%
78%
75%
79%
77%
76%
76%
77%
77%
Japan
63%
54%
61%
52%
58%
59%
60%
51%
57%
57%
Overseas
62%
59%
62%
57%
58%
59%
57%
53%
60%
57%
Total
62%
58%
62%
56%
58%
59%
57%
53%
59%
57%
(C)2016 Ricoh Company, Ltd. All Rights Reserved
38
Appendix: historical data (2)
MFP & printer y-o-y (Office Imaging and Production Printing)
< Hardware >
*By value
FY2015/03
FY2016/03
FY15/03
FY16/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Total
Total
MFP&Printer
Japan
-2%
+7%
+0%
-6%
+4%
-7%
+2%
-2%
-1%
-1%
(Office+PP)
Overseas
+1%
+9%
+6%
+2%
+9%
+6%
+0%
-0%
+4%
+3%
-4%
+4%
-4%
-5%
+0%
-3%
-4%
+3%
-2%
-1%
+0%
+9%
+4%
-1%
+8%
+4%
+1%
-1%
+3%
+3%
-3%
+5%
-3%
-5%
+1%
-3%
-2%
+1%
-2%
-1%
(Forex excluded)
Total
(Forex excluded)
< Non-hardware >
MFP&Printer
Japan
-6%
-1%
-5%
-8%
+0%
-5%
-4%
-1%
-5%
-2%
(Office+PP)
Overseas
+2%
+5%
+6%
+5%
+6%
+5%
-2%
-8%
+4%
+0%
-3%
-0%
-3%
-1%
-1%
-2%
+2%
-4%
-2%
-1%
-0%
+3%
+2%
+1%
+4%
+2%
-2%
-7%
+1%
-1%
-4%
-1%
-4%
-3%
-1%
-3%
+0%
-4%
-3%
-1%
(Forex excluded)
Total
(Forex excluded)
＊Total hardware and non-hardware sales of MFP, Office printer, PP (excluding sales of solutions and third party products）
April 28, 2016
(C)2016 Ricoh Company, Ltd. All Rights Reserved
39
Appendix: historical data (3)
MFP & printer y-o-y (Office Imaging)
< Hardware >
*By value
FY2015/03
FY2016/03
FY15/03
FY16/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Total
Total
MFP&Printer
Japan
-3%
+6%
+1%
-6%
+2%
-6%
+2%
-4%
-1%
-1%
(Office Imaging)
Overseas
-0%
+11%
+8%
+4%
+6%
+2%
-5%
-4%
+6%
-0%
-5%
+6%
-2%
-3%
-2%
-6%
-9%
+0%
-1%
-4%
-1%
+10%
+6%
+0%
+5%
+1%
-4%
-4%
+3%
-1%
(Forex excluded)
-4%
+6%
-1%
-4%
-1%
-6%
-7%
-1%
-1%
-4%
Japan
-3%
+9%
+4%
-5%
+2%
-3%
-0%
-5%
+0%
-2%
Overseas
-1%
+11%
+7%
+2%
+6%
+2%
-6%
-3%
+5%
-1%
-6%
+6%
-3%
-5%
-2%
-7%
-10%
+1%
-2%
-5%
-2%
+10%
+6%
-1%
+5%
+1%
-5%
-3%
+3%
-1%
-5%
+6%
-0%
-5%
-1%
-6%
-8%
-1%
-1%
-4%
-14%
-13%
-36%
-16%
+4%
-17%
+23% +10%
-20%
+4%
+15% +11% +16% +25%
+6%
+11%
+5%
-9%
+17%
+3%
+10%
+6%
+6%
+16%
-2%
+3%
+5%
-4%
+10%
+0%
+7%
+3%
+1%
+11%
+6%
+4%
+8%
-4%
+5%
+3%
+3%
-1%
-6%
+5%
-1%
-3%
+8%
-0%
+0%
+1%
-15%
(Forex excluded)
Total
MFP
(Forex excluded)
Total
(Forex excluded)
Office PrinterJapan
Overseas
(Forex excluded)
Total
(Forex excluded)
PP *
Japan
+21% +23%
-23%
-12%
+20%
+10% +15%
-2%
+7%
Overseas
+13%
-2%
-8%
-9%
+26% +28% +37% +18%
-3%
+27%
+8%
-7%
-17%
-17%
+16% +18% +34% +18%
-10%
+21%
+14%
+1%
-10%
-10%
+25% +22% +33% +18%
-3%
+24%
+10%
-3%
-18%
-16%
+17% +13% +31% +17%
-9%
+19%
(Forex excluded)
Total
(Forex excluded)
＊Cut sheet PP, Continuous form PP, Wide format (excluding sales of solutions and third party products）
April 28, 2016
(C)2016 Ricoh Company, Ltd. All Rights Reserved
40
Appendix: historical data (4)
MFP & printer y-o-y (Office Imaging)
< Non-hardware >
*By value
FY2015/03
FY2016/03
FY15/03
FY16/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Total
Total
MFP&Printer
Japan
-5%
-0%
-5%
-7%
+0%
-5%
-4%
-2%
-4%
-3%
(Office Imaging)
Overseas
+1%
+3%
+3%
+3%
+4%
+2%
-4%
-10%
+2%
-2%
-5%
-2%
-5%
-2%
-2%
-4%
+1%
-5%
-4%
-3%
-2%
+2%
+0%
-1%
+3%
-1%
-4%
-7%
-0%
-2%
(Forex excluded)
-5%
-1%
-5%
-4%
-1%
-5%
-1%
-4%
-4%
-3%
Japan
-3%
-3%
-4%
-3%
-3%
-3%
-5%
-2%
-3%
-3%
Overseas
-0%
+2%
+2%
+3%
+3%
+2%
-4%
-11%
+2%
-3%
-5%
-3%
-6%
-2%
-3%
-5%
+1%
-6%
-4%
-3%
-1%
+1%
+0%
+1%
+1%
+0%
-4%
-8%
+0%
-3%
-5%
-3%
-5%
-2%
-3%
-4%
-1%
-5%
-4%
-3%
-11%
+7%
-7%
-14%
+11%
-11%
-2%
-1%
-7%
-1%
+6%
+6%
+7%
-0%
+8%
+4%
-5%
-4%
+5%
+1%
+0%
+2%
-1%
-4%
+2%
-1%
-3%
+2%
-1%
-0%
-3%
+7%
-0%
-8%
+9%
-4%
-3%
-2%
-2%
-0%
(Forex excluded)
-6%
+4%
-4%
-10%
+6%
-7%
-3%
+0%
-4%
-1%
Japan
-15%
-20%
-20%
-18%
+1%
+2%
+6%
+7%
-18%
+4%
Overseas
+16% +19% +22% +19%
+17% +20% +12%
+2%
+19%
+12%
+10% +13% +11% +10%
+7%
+11% +11%
-2%
+11%
+7%
+10% +12% +15% +13%
+15% +17% +12%
+3%
+13%
+11%
+6%
+6%
-1%
+6%
+6%
(Forex excluded)
Total
MFP
(Forex excluded)
Total
(Forex excluded)
Office PrinterJapan
Overseas
(Forex excluded)
Total
PP *
(Forex excluded)
Total
(Forex excluded)
+7%
+6%
+5%
+10% +11%
＊Cut sheet PP, Continuous form PP, Wide format (excluding sales of solutions and third party products）
April 28, 2016
(C)2016 Ricoh Company, Ltd. All Rights Reserved
41
Appendix: historical data (5)
MFP & printer color ratio
FY2015/03
MFP
Office Printer
PP
FY2016/03
FY15/03
FY16/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Total
Total
Japan
85%
85%
87%
85%
90%
87%
87%
84%
86%
86%
Overseas
62%
61%
63%
64%
65%
64%
64%
69%
62%
66%
Total
70%
68%
70%
71%
70%
68%
69%
73%
70%
70%
Japan
49%
47%
36%
45%
45%
42%
41%
54%
45%
46%
Overseas
31%
39%
38%
38%
37%
36%
37%
37%
36%
37%
Total
35%
41%
37%
40%
39%
37%
38%
42%
38%
39%
Japan
32%
34%
27%
25%
42%
32%
46%
44%
29%
41%
Overseas
65%
63%
67%
69%
68%
71%
76%
77%
66%
73%
Total
60%
59%
62%
63%
64%
67%
73%
73%
61%
70%
*For hardware shipment, by value
Number of employees
FY13/03
Japan
Overseas
FY16/03
Q1
Q2
Q3
Q4
36,873
36,371
36,698
36,369
36,149
35,779
Americas
31,475
31,853
31,766
31,384
31,752
31,754
31,501
EMEA
18,229
18,422
18,525
18,535
18,815
18,808
18,643
China
12,094
11,932
12,856
12,727
12,832
13,215
12,897
8,232
9,115
10,433
10,407
10,604
10,604
10,541
70,030
71,322
73,580
73,053
74,003
74,381
73,582
107,431
108,195
109,951
109,751
110,372
110,530
109,361
Sub total
April 28, 2016
FY15/03
37,401
AsiaPacific
Total
FY14/03
(C)2016 Ricoh Company, Ltd. All Rights Reserved
*As of end of each period
42
New products (Imaging & Solutions - Document)
FY2014/03
FY2015/03
FY2016/03
FY2017/03
NEW
NEW
MP C8002
Color
MFP
NEW
MP C6502
MP C6004
MP C6003
MP C5503
MP C5504
MP C4504
MP C4503
NEW
NEW
MP C3503
MP C3003
MP C3504
MP C2503
MP C1803
MP C3004
MP 6054
MP 5054
Mono
MFP
MP 4054
MP 3554
MP 3054
MP 2253
MP 3353
MP 2554
MP 401SPF
A4
MFP
MP301SPF MP C305SP SG 3120B SF
SP 204SF
SG 3120SF
SP C250SFL
MP 311SFN
April 28, 2016
MP 305+ SPF
MP C401
SP C250SF
SP 4510SF
SP 112SU
MP C306Z SP
SP 3600SF
(C)2016 Ricoh Company, Ltd. All Rights Reserved
43
New Products
Color
Continuous
Form
(Production Printing)
InfoPrint5000
Pro VC60000
InfoPrint5000VP
Pro C9110
Heavy
Cut
Sheet
Color
Cut
Sheet
Pro C9100
Mid
Pro C901
Pro C900
Pro C7110S
Pro C720
Pro C751
Light
Pro C5110S
Pro C7100S
Pro C651
Pro C5100S
Color
Wide Format
Inkjet
MP CW2200
FY09/03 - FY12/03
April 28, 2016
FY13/03
Pro L4000
FY14/03
(C)2016 Ricoh Company, Ltd. All Rights Reserved
FY15/03 -
44
April 28, 2016
(C)2016
(C)2015 Ricoh Company, Ltd. All Rights Reserved
45