Presentation

Consolidated
Results for the
9 months ended
December 31,
2014
January 30, 2015
Daisuke Segawa,
Corporate Senior Vice President
Ricoh Company, Ltd.
＊Pro C7100 Series with both white and/or clear toner
expands print on demand business
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.
January 30, 2015
(C)2015 Ricoh Company, Ltd. All Rights Reserved
1
FY2015/03 Apr-Dec results overview
9 Third quarter year net sales was ¥1,629.8 bil., an increase of 3.0% y-o-y
9 Operating income was ¥86.0 bil., an increase of 9.8% y-o-y
9 Profit before income tax expenses was ¥84.8 bil., an increase of 11.8% yo-y
9 Profit attribute to owners of the parent was ¥52.3 bil., an increase of
20.6%
9 Thanks to increased sales of color MFPs in Japan, Americas and Asia
and expanded IT services overseas, industrial products and forex effect,
we were able to achieve increased sales and profit.
9
Outlook for FY March 2015 on course to meet targets.
We have started to adopt International Financial Reporting Standards (IFRS) for the consolidated
financial statements from FY March 31, 2015, instead of U.S. GAAP.
In this material we also adopted IFRS for part of last fiscal year for the purpose of reference.
January 30, 2015
(C)2015 Ricoh Company, Ltd. All Rights Reserved
2
FY2015/03 Apr-Dec profit statement
(billions of yen)
Sales
(Japan)
(Overseas)
Total
Gross profit
sales %
SG&A
sales %
Operating profit
sales %
Profit before income tax expenses
sales %
Profit attrib ute to owners of the parent
sales %
EPS (Yen)
Exchange rate
(Yen)
January 30, 2015
US $1
Euro 1
ＩＦＲＳ
FY2014/03
Apr-Dec
result
ＩＦＲＳ
FY2015/03
Apr-Dec
result
636.7
945.3
1,582.0
640.7
40.5%
562.3
35.5%
78.4
5.0%
75.9
4.8%
43.4
2.7%
59.88
610.9
1,018.9
1,629.8
679.1
41.7%
593.0
36.4%
86.0
5.3%
84.8
5.2%
52.3
3.2%
72.22
+12.34
99.42
106.84
+7.42
140.26
+7.95
132.31
Y-o-Y Comparison
Change
Change(%)
Change(%)
without Forex
-25.8
-4.1%
-4.1%
+73.5
+7.8%
+1.2%
+47.7
+3.0%
-0.9%
+38.4
+6.0%
+30.7
+5.5%
<Investment>
(billions of yen)
+7.6
+9.8%
+8.9
+11.8%
FY14/03 FY15/03
Apr-Dec Apr-Dec
85.9
86.8
5.4%
5.3%
CAPEX
51.3
Depreciation
46.8
54.9
53.3
R&D
% on sales
(tangible fixed assets)
+8.9
+20.6%
(C)2015 Ricoh Company, Ltd. All Rights Reserved
<FY2015/03 Q3 forex assumptions>
Q3
Q3(Actual)
1US$
100.00JPY
114.37JPY
1Euro
140.00JPY
142.87JPY
3
FY2015/03 Apr-Dec operating profit y-o-y comparison
(billions of yen)
1Q: +9.1
2Q: +4.2
3Q: +5.1
1Q: -3.9
2Q: -1.1
3Q: -0.3
+18.3
1Q: +0.5
2Q: +1.0
3Q: +0.7
1Q: -1.0
2Q: 0
3Q: -1.6
1Q: -4.6
2Q: -7.2
3Q: -4.9
+2.2
+11.7
-2.6
-5.3
91.359625
91.359625
90.959625
78.4
78.4
FY14/03
Apr-Dec
FY14/03
Apr-Dec
Restructuring
Charge, net
Operating
Profit
Operating
Profit
US-GAAP
IFRS
January 30, 2015
78.2
Extraordinary
items
Sales
Product
Cost Down
+7.6
-16.7
Expense on FY14/03 10.5 (increase)
Benefit
7.8 (increase)
78.2
1Q: +4.8
2Q: +2.2
3Q: +4.7
R&D
74.3
74.3
Other
Expenses
Forex,
net
86.0
FY15/03
Apr-Dec
Operating
Profit
Gross profit items
SG&A items
(C)2015 Ricoh Company, Ltd. All Rights Reserved
IFRS
4
FY2015/03 Apr-Dec results supplement
OP / OP margin
SG&A
(billions of yen)
(billions of yen)
SG&A
ratio
OP
margin
SG&A
41.9
22.9 22.2
29.6 26.4
Q4
Q2
175.9
182.2
189.0
179.0
Q3
Q4
Q1
Q2
194.2
190.5
192.1
198.4
202.5
Q3
Q4
Q1
Q2
Q3
27.1 28.6 30.2
13.0
Q3
FY2013/03
January 30, 2015
Q1
Q3
FY2014/03
Q4
Q1
Q2
Q3
FY2015/03
FY2013/03
(C)2015 Ricoh Company, Ltd. All Rights Reserved
FY2014/03
FY2015/03
5
Imaging & Solutions (1)
Sales (billions of yen)
Imaging & Solutions
Network System
Solutions
1,409.6
204.8
Y-o-Y( Excluding forex）
1,452.4
+3.0%(-1.1%)
208.7
+1.9%(+0.2%)
137.9
+6.6%(+0.9%)
< Sales y-o-y (excluding Forex) >
+8.8%
+4.5%
+1.4%
+1.3%
+0.8% +0.9%
0.0%
129.3
-0.9%
-1.1%
-3.6%
Production Printing
< OP&OP margin >
Office Imaging
1,075.4
1,105.7
+2.8%(-1.6%)
OP
margin
7.9%
9.6%
8.3%
10.4%
10.2%
8.4%
8.4% 8.6% 8.9%
(billions of yen)
OP
FY2014/03
Apr-Dec
FY2015/03
Apr-Dec
126.2
125.7
58.0
46.0
OP
32.2
Q3
Sales %
9.0％
8.7％
IFRS
IFRS
38.2
Q4
FY2013/03
Q1
47.1
Q2
40.9
Q3
FY2014/03
Q4
39.6
41.9
44.1
Q1
Q2
Q3
FY2015/03
Excluding “Corporate and Eliminations”
January 30, 2015
(C)2015 Ricoh Company, Ltd. All Rights Reserved
6
Imaging & Solutions (2)
Main products and service
< MFP / Printer / PP combined y-o-y >
< Products & Services sales FY2015/03 Apr-Dec y-o-y >
(Value, excluding Forex)
Hardware
0%
Black & White
MFP
-18％
Office Printer
+1％
+1％
PP(Cut Sheet type)
+5%
+2% +2%
+1%
-1%
-1%
-1%
-1%
+1%
-2%
Services*
-3%
-4%
Q4
Q1
Color
+6％
-4％
+18％
-3%
-3%
-3% -3%
(Value, excluding Forex)
-4%
+10%
(*Document, IT services excluding hardware sales of PC)
-7%
Non-hardware
Q3
Q4
FY2013/03
Q1
Q2
Q3
FY2014/03
Q2
Q3
FY2015/03
See Appendix for more data
January 30, 2015
(C)2015 Ricoh Company, Ltd. All Rights Reserved
7
OP by geographic segment
The Americas
Japan
< Sales y-o-y (excluding Forex) >
< Sales y-o-y (excluding Forex) >
0.0%
0.0%
-1.5%
< OP&OP margin >
OP
margin
+5.0%
+1.8%
+0.9%
1.7% 2.7%
5.6%
-2.4%
-0.1% -1.5% -0.4%
< OP&OP margin >
4.8% 3.1%
2.3%
4.9%
4.3%
5.0%
OP
margin
1.8%
2.0%
1.4%
3.2%
3.0%
4.0%
3.2%
(billions of yen)
18.0
OP
16.0
8.9
15.6
10.2
8.6
Q3
Q4
5.1
Q3
Q4
FY2013/03
US-GAAP
January 30, 2015
Q1
+1.3%
Q2
14.3
Q2
17.3
Q3
FY2015/03
FY2014/03
IFRS
4.2%
(billions of yen)
OP
Q1
2.8%
2.2
2.9
2.0
Q3
Q4
Q1
FY2013/03
US-GAAP
(C)2015 Ricoh Company, Ltd. All Rights Reserved
4.6
4.5
Q2
Q3
6.3
Q4
7.1
4.8
4.3
Q1
Q2
Q3
FY2015/03
FY2014/03
IFRS
8
OP by geographic segment
Europe / Middle East / Africa
Other
< Sales y-o-y (excluding Forex) >
+3.3%
< Sales y-o-y (excluding Forex) >
+14.1%
+11.8%
+11.7%
+1.8%
+0.9%
+4.7%
+0.7%
0.0%
0.0%
-1.7%
-2.7%
6.1%
7.3%
1.8%
-0.3%
-2.9%
-3.9% -3.4%
< OP&OP margin >
OP
margin
+10.8%
+7.0%
+5.3%
-1.6%
< OP&OP margin >
4.7%
5.7% 9.4%
3.6%
4.2% 3.5%
OP
margin
4.4% 4.6%
3.6%
5.3%
4.4%
4.4%
3.4%
(billions of yen)
13.3
OP
9.0
6.4
5.6
Q4
FY2013/03
US-GAAP
January 30, 2015
Q1
Q2
Q3
Q4
OP
8.8
4.6
5.2
4.7
3.3
3.8
3.2
Q1
Q2
Q3
Q3
Q4
Q1
FY2015/03
FY2014/03
IFRS
7.1%
(billions of yen)
7.6
2.2
Q3
5.5%
FY2013/03
US-GAAP
(C)2015 Ricoh Company, Ltd. All Rights Reserved
6.0
5.2
4.5
4.2
3.2
Q2
Q3
Q4
Q1
Q2
Q3
FY2015/03
FY2014/03
IFRS
9
Industrial Products
Sales (billions of yen)
< Sales y-o-y (excluding Forex) >
+8.8%+8.6%
Y-o-Y
(excluding Forex）
82.3
87.9
+3.2%
+6.8%(+3.3%)
-5.3%
< OP >
OP
FY2015/03
Apr-Dec
3.1
4.4
Excluding “Corporate and Eliminations”
(billions of yen)
2.3
0.6
0.2
Sales %
3.4％
+1.8% +3.3%
0.0%
-8.1% -7.6%
FY2014/03
Apr-Dec
+4.9%
1.2
1.2
1.1
0.8
Q1
Q2
0.3
4.5％
-0.4
IFRS
IFRS
Q3
Q4
FY2013/03
US-GAAP
Q1
Q2
Q3
Q4
Q3
FY2015/03
FY2014/03
IFRS
We recalculated the results from Q1 of FY2014/03 to Q2 of FY2015/03 due to industrial products reorganization in October, 2014.
January 30, 2015
(C)2015 Ricoh Company, Ltd. All Rights Reserved
10
Other
Sales (billions of yen)
< Sales y-o-y (excluding Forex) >
+13.7%
Y-o-Y
(excluding forex）
90.1
+1.8%
0.0%
-0.7%(-1.5%)
89.4
+5.0%
+0.3%
+13.8%
-0.6% -2.5% -1.1%
-6.0%
< OP >
Excluding “Corporate and Eliminations”
(billions of yen)
0.1
FY2014/03
Apr-Dec
FY2015/03
Apr-Dec
0.1
-0.1
-0.6
-1.1
-1.6
OP
Sales %
January 30, 2015
-0.3
0.0
-0.4％
0.0％
IFRS
IFRS
1.3
0.5
-2.9
Q3
Q4
FY2013/03
US-GAAP
(C)2015 Ricoh Company, Ltd. All Rights Reserved
Q1
Q2
Q3
Q4
Q1
Q2
Q3
FY2015/03
FY2014/03
IFRS
11
Statement of Financial Position as of Dec 31, 2014
Inventories/Averaged cost of sales (month)
Assets
(billions of yen)
Current Assets
As of
Dif ｆ . from
Mar
31, '14
Dec 31, 2014
1,234.0
140.2
-3.8
Trade and other receivables
555.5
+10.7
Other financial assets
256.2
+6.5
Inventories
240.5
+46.3
41.5
+7.2
1,514.8
+85.2
Prpperty, plant and equipment
277.7
+7.0
Goodwill and intangible assets
444.6
+45.3
Non-current assets
Other financial assets
588.8
+27.9
Other non-current assets
203.4
+4.8
2,748.8
+152.2
Total Assets
1.70
1.79
2.03
2.03
1.76
2.18
2.28
228.4 240.5
+67.0
Cash & time deposits
Other current assets
Inventories/Averaged
cost of sales
169.2 171.8
195.0 195.3 194.1
Inventories
(billions of yen)
End of End of End of End of End of
Mar
Mar Mar Mar
Mar
‘14
‘11
‘12
‘13
‘10
IFRS
End of End of
Dec
Dec
‘13
‘14
IFRS
Total assets turn over (per month)
Total assets
turn over
0.82
0.84
0.84
0.83
0.89
2,596.6
2,383.9
2,255.5 2,289.3 2,360.6
0.87
0.81
2,748.8
2,560.4
Total Assets
(billions of Yen)
Exchange rate as of Dec 31, ‘14
US$ 1
= ¥ 120.55
EURO 1
= ¥ 146.54
January 30, 2015
(Diff.from Mar 31, ‘14)
( +17.63)
( + 4.89)
End of End of End of End of End of
Mar Mar Mar Mar
Mar
‘14
‘11
‘12
‘13
‘10
IFRS
(C)2015 Ricoh Company, Ltd. All Rights Reserved
End of End of
Dec
Dec
‘13
‘14
IFRS
12
Statement of Financial Position as of Dec 31, 2014
Equity attributable to owners of the parent ratio
(Equity ratio)
Liabilities and Equity
(billions of yen)
As of
Difｆ . from
Mar
31, '14
Dec 31, 2014
830.7
-4.8
Bonds and borrowings
307.9
+36.1
Trade and other payables
249.2
-32.7
Other current liabilities
273.5
-8.3
739.3
+72.8
Bonds and borrowings
511.9
+59.5
Accrued pension&retirement benefits
134.6
+10.1
92.7
+3.2
1,570.1
+67.9
1,109.3
+79.8
Current Liabilities
Non-current liabilities
Other non-current liabilities
Total Liabilities
Total equity attributable to owners
of the parent
69.3
+4.3
Total Equity
1,178.6
+84.2
Total liabilities and Equity
2,748.8
+152.2
Noncontrolling Interest
Total debt
Exchange rate as of Dec 31, ‘14
US$ 1
= ¥ 120.55
EURO 1
= ¥ 146.54
January 30, 2015
819.8
+95.7
(Diff.from Mar 31, ‘14)
( +17.63)
( + 4.89)
Equity
ratio
40.8% 41.0% 35.9% 38.0% 39.6%
973.3 925.2
1,029.4
822.7
897.9
39.2% 40.4%
1,003.4
1,109.3
Equity
Attributable
to owners
of the parent
(billions of yen)
End of End of End of End of End of
Mar
Mar Mar
Mar
Mar
‘14
‘11
‘12
‘13
‘10
IFRS
End of End of
Dec
Dec
‘13
‘14
IFRS
Net debt/equity ratio (multiplies)
Net D/E
ratio
0.45
0.49
0.71
0.65
0.56
583.1 582.4 580.0
0.62
630.3
0.61
679.6
440.6 455.3
Net debt
(billions of yen)
97.4 58.1
5.3
66.8 66.5
-18.6 -6.3
*Net debt excluding End of End of End of End of End of
Ricoh Leasing
Mar
Mar Mar
Mar
Mar
‘14
‘11
‘12
‘13
‘10
(C)2015 Ricoh Company, Ltd. All Rights Reserved
IFRS
End of End of
Dec
Dec
‘13
‘14
IFRS
13
FY2015/03 Apr-Dec statement of cash flow
IFRS
IFRS
FY2014/03
Apr-Dec
FY2015/03
Apr-Dec
Profit
47.5
56.8
Depreciation and amortization
79.9
80.8
[ 127.4 ]
[ 137.7 ]
(billions of yen)
[ Net profit + Depreciation and amortization ]
Other operating activities
-80.3
-102.0
Net cash by operating activities
47.1
35.6
-50.8
-53.7
-0.5
-8.4
Other investing activities
-22.5
-48.3 ※
Net cash by investing activities
-73.9
-110.6
Increase (Decrease) of debt
68.3
84.5
-23.9
-24.2
Other financing activities
-0.7
-0.7
Net cash by financing activities
43.6
59.5
10.2
11.8
27.0
-3.5
144.1
136.5
Plant and equipment
Purchase of business
Dividend paid
Effect of exchange rate
Net increase in cash and equivalents
Cash and equivalents at end of period
※Other investing activities in April-December FY 2015 include ¥21.9 bl., impact of exchange transaction.
<Impact of exchange transaction >
Cash expenditure of the balance between financing and payment for overseas subsidiaries
January 30, 2015
Free cash flow (billions of yen)
<Quarterly>
FCF
FCF excluding lease receivables
85.0
66.0
51.2
48.5
※excluding impact of
exchange transaction
3.4
‐5.4
8.6
‐6.0
‐23.7 ‐22.7
-4.4
Q3
Q4
Q1
FY2013/03
‐1.3
‐7.1
‐2.8
‐14.9
‐28.8 ‐27.9
‐36.1 ‐31.5
-6.3 -15.9
IFRS
Q2
Q3
-9.6 -6.0
Q4
FY2014/03
Q1
Q2
Q3
FY2015/03
IFRS
US-GAAP
<Annual Data>
101.1
94.2
77.8
36.7
22.8
18.0 13.3
24.7
FCF
‐75.6
FCF excluding lease
receivables
‐101.2
FY
10/03
(C)2015 Ricoh Company, Ltd. All Rights Reserved
FY
11/03
FY
12/03
FY
13/03
FY
14/03
14
FY2015/03 profit statement forecast
ＩＦＲＳ
ＩＦＲＳ
ＩＦＲＳ
FY2014/03
Results
FY2015/03
forecast
(on Oct '14)
FY2015/03
Forecast
905.1
1,290.5
2,195.6
873.2
39.8%
752.8
34.3%
120.3
5.5%
118.0
5.4%
72.8
3.3%
100.44
892.0
1,368.0
2,260.0
936.0
41.4%
796.0
35.2%
140.0
6.2%
135.0
6.0%
80.0
3.5%
110.35
875.0
1,385.0
2,260.0
936.0
41.4%
796.0
35.2%
140.0
6.2%
135.0
6.0%
80.0
3.5%
110.35
US $1
100.29
101.53
105.13
+4.84
Euro 1
134.47
139.47
140.19
+5.72
(billions of yen)
Sales
(Japan)
(Overseas)
Total
Gross profit
sales %
SG&A
sales %
Operating profit
sales %
Profit before income tax expenses
sales %
Profit attrib ute to owners of the parent
sales %
EPS (Yen)
Exchange rate
(Yen)
January 30, 2015
Y-o-Y comparison
Change
Change(%)
Change(%)
without Forex
-30.1
-3.3%
-3.3%
+94.5
+7.3%
+3.1%
+64.4
+2.9%
+0.4%
+62.8
+7.2%
+43.2
+5.7%
<Investment>
FY14/03 FY15/03
result
forecast
(billions of yen)
+19.7
+16.3%
+17.0
+14.3%
116.2
121.0
5.3%
5.4%
CAPEX
72.9
Depreciation
63.3
78.0
72.0
R&D
% on sales
(tangible fixed assets)
+7.2
+9.9%
<FY2015/03 forex assumptions>
+9.91
(C)2015 Ricoh Company, Ltd. All Rights Reserved
Q4
Full year
1US$
100.00JPY
105.13JPY
1Euro
140.00JPY
140.19JPY
15
FY2015/03 operating profit y-o-y comparison
Previous
forecast
Previous
forecast
Previous
forecast
+18.0
+12.5
+7.4
+18.8
+8.4
(billions of yen)
+5.0
+19.7
+10.7
-5.0
-18.2
Expense on FY14/03 11.0 (increase)
Benefit
7.8 (increase)
120.3
120.3
FY14/03
FY14/03 Restructuring Sales
Operating
Profit
Operating Charge, net
Profit
IFRS
US-GAAP
Extraordinary
items
Product
Cost Down
Gross profit items
R&D
140.0
Expenses
Forex,
net
SG&A items
FY15/03
Operating
Profit
Forecast
IFRS
Forex assumptions
(yen)
US$
Euro
January 30, 2015
FY14/03
result
FY15/03
forecast
y-o-y
Forex impacts
100.29
134.47
105.13
140.19
+ 4.84
+ 5.72
Impacts of forex
per yen annually
(billion yen)
US$
(C)2015 Ricoh Company, Ltd. All Rights Reserved
Euro
sales
OP
6.0
3.8
0.8
1.4
16
Dividend and ROE
(yen)
33.0
full year
dividend
year-end
dividend
mid-year
dividend
33.0
33.0
33.0
34.0
16.5
17.0
16.5
17.0
FY14/03
FY15/03
29.0
28.0
24.0
33.0
17.0
15.0
25.0
16.5
16.5
8.5
15.0
16.5
12.0
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
January 30, 2015
18%
18%
23%
366%
86%
122%
-
64%
32%
30%
10.6%
11.0%
9.9%
0.6%
2.9%
2.0%
-5.1%
3.8%
7.6%
8.0%+
(C)2015 Ricoh Company, Ltd. All Rights Reserved
17
Appendix
January 30, 2015
(C)2015 Ricoh Company, Ltd. All Rights Reserved
18
FY2015/03 new products (Imaging & Solutions - Document)
FY2013/03
FY2014/03
FY2015/03
MP C8002
MP C6502
Color
MFP
MP C6003
MP C5503
MP C4503
MP C3503
MP C3003
Mono
MFP
MP C2503
MP C1803
MP 9002
MP 7502
MP 6054
MP 5054
MP 6002
MP 4054
MP2501
MP2001
MP 3554
MP 2253
MP 3353
MP 2554
MP1301 MP1601
A4
MFP
January 30, 2015
MP301SPF MP C305SP
SG 3120B SF
MP C401
SP C250SF
SP 204SF
SG 3120SF
SP C250SFL
SP 112SU
MP 311SFN
(C)2015 Ricoh Company, Ltd. All Rights Reserved
SP 4510SF
SP 3600SF
19
FY2015/03 new products (Production Printing)
Color
Continuous
Form
InfoPrint5000
Pro VC60000
InfoPrint5000VP
Pro C9110
Heavy
Cut
Sheet
Pro C9100
Color
Cut
Sheet
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
January 30, 2015
FY13/03
Pro L4000
FY14/03
(C)2015 Ricoh Company, Ltd. All Rights Reserved
FY15/03
20
FY2015/03 Apr-Dec sales by category
By product category
（billions of yen）
By Area
Y-o-Y (excluding Forex)
Y-o-Y (excluding Forex)
1,582.0
90.1
82.3
204.8
129.3
1,629.8
89.4
87.9
208.7
137.9
+3.0%(-0.9%)
Other
1,582.0
1,629.8
136.4
154.1
Other
+13.0%(+7.7%)
376.6
391.4
+6.8%(+3.3%)
EMEA
+3.9%(-1.9%)
Network System
Solutions
The Americas
+9.5%(+1.9%)
-0.7%(-1.5%)
Industrial Products
432.1
473.3
+1.9%(+0.2％)
1,075.4
1,105.7
Production Printing
945.3
1,018.9
1,452.4
Office Imaging
+2.8%(-1.6%)
Overseas
+7.8%(+1.2%)
+6.6%(+0.9%)
1,409.6
+3.0%(-0.9%)
636.7
610.9
Japan
-4.1%(-4.1%)
Imaging & Solutions
FY2014/03
Apr-Dec
FY2015/03
Apr-Dec
IFRS
IFRS
January 30, 2015
+3.0%(-1.1%)
FY2014/03
Apr-Dec
FY2015/03
Apr-Dec
IFRS
IFRS
(C)2015 Ricoh Company, Ltd. All Rights Reserved
21
FY2015/03 Q3 profit statement
ＩＦＲＳ
FY2015/03
Q3 result
215.7
327.0
542.8
220.7
40.7%
194.2
35.8%
26.4
4.9%
25.7
4.7%
15.3
2.8%
21.14
196.0
361.0
557.0
232.7
41.8%
202.5
36.4%
30.2
5.4%
29.2
5.3%
18.3
3.3%
25.34
US $1
100.46
114.37
+13.91
Euro 1
136.70
142.87
+6.17
(Japan)
(Overseas)
Total
Gross profit
sales %
SG&A
sales %
Operating profit
sales %
Profit before income tax expenses
sales %
Profit attrib ute to owners of the parent
sales %
EPS (Yen)
Exchange rate
(Yen)
January 30, 2015
Y-o-Y Comparison
FY2014/03
Q3 result
(billions of yen)
Sales
ＩＦＲＳ
Change
Change(%)
Change(%)
without Forex
-19.7
-9.2%
-9.2%
+33.9
+10.4%
+0.9%
+14.1
+2.6%
-3.1%
+12.0
+5.4%
+8.2
+4.3%
<Investment>
FY14/03 FY15/03
Investment
Q3
Q3
28.3
28.6
5.2%
5.1%
CAPEX
15.8
Depreciation
16.3
16.2
17.5
(billions of yen)
+3.7
+14.2%
+3.5
+13.8%
R&D
% on sales
(tangible fixed assets)
+3.0
+19.9%
+4.20
(C)2015 Ricoh Company, Ltd. All Rights Reserved
FY2015/03 Q3
forex assumption
1US$ =
100.00JPY
1Euro =
140.00JPY
22
FY2015/3 Q3 sales by category
By product category
（billions of yen）
By Area
Y-o-Y (excluding Forex)
Y-o-Y (excluding Forex)
542.8
28.8
28.4
71.5
46.4
557.0
28.8
30.8
64.6
48.9
+2.6%(-3.1%)
383.7
557.0
+2.6%(-3.1%)
45.5
54.9
Other
+20.8%(+10.8%)
134.9
136.9
Other
+0.0%(-1.1%)
Industrial Products
+8.6%(+3.3%)
Network System
Solutions
-9.8%(-12.4％)
367.5
542.8
Production Printing
146.5
327.0
169.0
361.0
EMEA
+1.5%(-2.9%)
The Americas
+15.3%(+1.3%)
Overseas
+10.4%(+0.9%)
+5.6%(-3.0%)
485.5
497.3
Office Imaging
+4.4%(-2.0%)
215.7
196.0
Japan
-9.2%(-9.2%)
Imaging & Solutions
FY2014/03
Q3
FY2015/03
Q3
IFRS
IFRS
January 30, 2015
+2.4%(-3.6%)
FY2014/03
Q3
FY2015/03
Q3
IFRS
IFRS
(C)2015 Ricoh Company, Ltd. All Rights Reserved
23
FY2015/3 sales forecast by category
By product category
2,195.6
120.8
110.0
308.0
180.0
2,260.0
122.7
119.9
306.5
194.9
Y-o-Y (excluding Forex)
+2.9%(+0.4%)
1,964.8
2,017.3
2,195.6
+1.6%(+1.1%)
182.2
Industrial Products
519.1
2,260.0
215.6
545.5
+9.0%(+6.7%)
Production Printing
1,476.7
Y-o-Y (excluding Forex)
+2.9%(+0.4%)
Other
Network System
Solutions
-0.5%(-1.5%)
1,515.8
(billions of yen)
By area
589.1
623.8
Other
+18.3%(+15.3%)
EMEA
+5.1%(+1.1 %)
The Americas
+5.9%(+1.1%)
Overseas
1,290.5
1,385.0
+7.3%(+3.1%)
+8.2%(+4.7%)
Office Imaging
+2.6%(-0.2%)
905.1
875.0
Japan
-3.3%(-3.3%)
Imaging & Solutions
FY2014/03
FY2015/03
forecast
IFRS
IFRS
January 30, 2015
+2.7%(+0.0%)
FY2014/03
FY2015/03
forecast
IFRS
IFRS
(C)2015 Ricoh Company, Ltd. All Rights Reserved
24
Appendix: historical data (1)
*Value based ratio including forex
Imaging & Solutions sales portion by products
FY2013/03
FY2014/03
FY2015/03
FY13/03
FY14/03
FY15/03
FY13/03
FY14/03
Q4
Q1
Q2
Q3
Q1-Q3
Q1-Q3
Q1-Q3
Total
Total
54%
51%
55%
52%
54%
56%
54%
54%
57%
53%
9%
9%
9%
9%
9%
9%
10%
9%
9%
10%
9%
9%
10%
10%
9%
9%
10%
11%
9%
9%
10%
9%
9%
6%
5%
5%
5%
6%
5%
6%
4%
6%
5%
5%
6%
6%
11%
12%
11%
12%
12%
13%
12%
13%
13%
11%
12%
13%
11%
12%
8%
7%
9%
11%
11%
12%
10%
10%
9%
8%
10%
10%
8%
11%
FY13/03
FY14/03
FY15/03
FY13/03
FY14/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
MFP
58%
55%
57%
57%
57%
52%
Office Printer
10%
10%
10%
10%
9%
Production Printing(PP)
9%
9%
9%
9%
Office Imaging, other
6%
6%
6%
MDS(Labor charge) & IT Services
10%
11%
Network System Solutions, other
8%
9%
MFP & printer Non-hardware ratio
FY2013/03
MFP
Office Printer
PP
January 30, 2015
FY2014/03
FY2015/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q1-Q3
Q1-Q3
Q1-Q3
Total
Total
Japan
58%
61%
60%
50%
55%
60%
58%
48%
55%
58%
56%
59%
58%
56%
57%
54%
Overseas
55%
53%
55%
53%
56%
56%
56%
53%
56%
54%
55%
55%
56%
55%
54%
55%
Total
56%
56%
57%
52%
56%
57%
57%
51%
56%
55%
55%
56%
57%
55%
55%
55%
Japan
88%
88%
88%
85%
88%
85%
87%
88%
89%
88%
91%
88%
87%
89%
87%
87%
Overseas
73%
69%
74%
72%
72%
71%
69%
71%
69%
70%
68%
72%
70%
69%
72%
70%
Total
81%
79%
81%
78%
80%
78%
78%
79%
78%
79%
78%
80%
79%
78%
80%
79%
Japan
63%
58%
61%
55%
71%
65%
61%
54%
63%
54%
61%
61%
65%
59%
59%
62%
Overseas
56%
57%
60%
59%
62%
54%
55%
50%
62%
59%
62%
58%
57%
61%
58%
55%
Total
58%
57%
60%
58%
63%
56%
56%
51%
62%
58%
62%
58%
58%
61%
58%
56%
(C)2015 Ricoh Company, Ltd. All Rights Reserved
25
Appendix: historical data (2)
MFP & printer y-o-y (Office Imaging and Production Printing)
< Hardware >
FY2013/03
*By value
FY2014/03
FY2015/03
FY13/03
FY14/03
FY15/03
FY13/03
FY14/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q1-Q3
Q1-Q3
Q1-Q3
Total
Total
MFP&Printer
Japan
-6%
-2%
+11%
-2%
-3%
-7%
+3%
+10%
-2%
+7%
+0%
+0%
-3%
+1%
+0%
+1%
(Office+PP)
Overseas
+0%
-11%
+0%
+11%
+27%
+11%
+1%
+9%
+6%
-4%
+22%
+5%
+0%
+19%
(Forex excluded)
+7%
-7%
-4%
-3%
+1%
-2%
-4%
+4%
-4%
-1%
-3%
-1%
-2%
-3%
Total
-2%
-8%
+3%
+6%
+19%
+11%
+0%
+9%
+4%
-2%
+14%
+4%
+0%
+13%
(Forex excluded)
+2%
-5%
+1%
-3%
-3%
-7%
+2%
+2%
-3%
+5%
-3%
-1%
-3%
-1%
-1%
-1%
MFP&Printer
Japan
+2%
-2%
-2%
-7%
-4%
-3%
-3%
+2%
-6%
-1%
-5%
-1%
-3%
-4%
-2%
-2%
(Office+PP)
Overseas
-4%
-4%
+7%
+19%
+24% +29%
+24%
+6%
+2%
+5%
+6%
+0%
+26%
+4%
+5%
+20%
(Forex excluded)
+4%
+1%
+4%
+3%
+0%
-2%
-6%
-3%
-0%
-3%
+3%
+0%
-2%
+3%
-2%
Total
-2%
-3%
+3%
+8%
+13% +16%
+13%
+5%
-0%
+3%
+2%
+0%
+14%
+1%
+2%
+11%
(Forex excluded)
+3%
+0%
+1%
-1%
-2%
-3%
-4%
-1%
-4%
+1%
-1%
-3%
+1%
-2%
+20% +19%
-3%
-7%
+13% +11%
< Non-hardware >
-1%
+1%
-1%
＊Total hardware and non-hardware sales of MFP, Office printer, PP (excluding sales of solutions and third party products）
January 30, 2015
(C)2015 Ricoh Company, Ltd. All Rights Reserved
26
Appendix: historical data (3)
MFP & printer y-o-y (Office Imaging)
< Hardware >
*By value
FY2013/03
FY2014/03
FY2015/03
FY13/03
FY14/03
FY15/03
FY13/03
FY14/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q1-Q3
Q1-Q3
Q1-Q3
Total
Total
-2%
-6%
+3%
+10%
-3%
+6%
+1%
+0%
-2%
+1%
-1%
+2%
+22%
+5%
-0%
+11%
+8%
-4%
+19%
+6%
+0%
+15%
MFP&Printer
Japan
-6%
-3%
+11%
-2%
(Office Imaging)
Overseas
-3%
-10%
+1%
+12%
(Forex excluded)
+4%
-6%
-2%
-2%
-2%
-10%
-3%
-7%
-5%
+6%
-2%
-2%
-5%
-1%
-2%
-6%
Total
-4%
-8%
+4%
+6%
+13%
+8%
+15%
+7%
-1%
+10%
+6%
-3%
+12%
+5%
+0%
+10%
(Forex excluded)
+0%
-5%
+2%
-2%
-2%
-9%
-1%
-1%
-4%
+6%
-1%
-1%
-4%
+0%
-1%
-3%
Japan
-6%
-1%
+12%
-1%
-1%
-8%
+2%
+11%
-3%
+9%
+4%
+1%
-2%
+3%
+0%
+2%
Overseas
-4%
-12%
+0%
+12%
+21%
+5%
-1%
+11%
+7%
-6%
+19%
+6%
-1%
+15%
(Forex excluded)
+3%
-8%
-3%
-2%
-2%
-11%
-4%
-7%
-6%
+6%
-3%
-3%
-5%
-1%
-3%
-6%
Total
-4%
-9%
+4%
+7%
+13%
+7%
+15%
+7%
-2%
+10%
+6%
-3%
+12%
+5%
+0%
+10%
(Forex excluded)
+0%
-6%
+2%
-2%
-1%
-10%
-2%
-1%
-5%
+6%
-0%
-2%
-4%
+0%
-2%
-3%
-1%
-16%
-2%
-19%
-13%
+15%
+8%
+3%
-14%
-13%
-36%
-7%
+4%
-21%
-11%
+4%
+8%
+22% +17% +10%
+15% +18%
+28%
+2%
+15% +11% +16%
+15%
+20%
+14%
+13%
+15%
MFP
Office Print Japan
Overseas
-4%
-7%
-7%
+2%
-9%
+10%
+6%
+6%
+19%
-4%
+7%
+12%
-6%
+5%
+6%
+10%
-2%
+5%
+17%
+21%
+3%
+7%
+3%
+1%
+7%
+15%
+3%
+4%
+11%
(Forex excluded)
+10%
+9%
+8%
-10%
-9%
+0%
+4%
-5%
+3%
-1%
-6%
+9%
-2%
-2%
+3%
-3%
Japan
-10%
+8%
+4%
+10%
-29%
-22%
+2%
+7%
+21% +23%
-23%
+1%
-16%
+4%
+3%
-9%
Overseas
+32%
-13%
-9%
+5%
+11% +46%
+67%
+59%
+13%
-2%
-8%
+0%
+41%
-0%
+1%
+46%
(Forex excluded)
+39%
-10%
-13%
-9%
-10%
+15%
+34%
+39%
+8%
-7%
-17%
+2%
+13%
-7%
-1%
+20%
Total
+21%
-9%
-7%
+6%
+4%
+32%
+54%
+48%
+14%
+1%
-10%
+0%
+30%
+0%
+2%
+35%
(Forex excluded)
+27%
-6%
-10%
-5%
-14%
+8%
+27%
+32%
+10%
-3%
-18%
+2%
+7%
-5%
+0%
+14%
Total
PP ＊
+22% +15%
+28% +13%
(Forex excluded)
+16%
+21% +15%
＊Cut sheet PP, Continuous form PP, Wide format (excluding sales of solutions and third party products）
January 30, 2015
(C)2015 Ricoh Company, Ltd. All Rights Reserved
27
Appendix: historical data (4)
MFP & printer y-o-y (Office Imaging)
< Non-hardware >
*By value
FY2013/03
FY2014/03
FY2015/03
FY13/03
FY14/03
FY15/03
FY13/03
FY14/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q1-Q3
Q1-Q3
Q1-Q3
Total
Total
MFP&Printer
Japan
+2%
-3%
-2%
-7%
-4%
-3%
-3%
+2%
-5%
-0%
-5%
-1%
-3%
-3%
-2%
-2%
(Office Imaging)
Overseas
-5%
-6%
+7%
+18%
+22%
+5%
+1%
+3%
+3%
-1%
+24%
+2%
+4%
+19%
(Forex excluded)
+3%
-1%
+4%
+2%
-3%
-6%
-5%
-2%
-5%
+2%
-1%
-4%
+2%
-3%
Total
-2%
-4%
+3%
+7%
+12%
+4%
-2%
+2%
+0%
-1%
+13%
+0%
+1%
+10%
(Forex excluded)
+2%
-2%
+2%
-2%
-2%
-1%
-3%
-3%
-5%
-1%
-5%
+1%
-2%
-4%
+0%
-3%
Japan
+0%
-4%
-3%
-6%
-4%
-2%
-3%
-2%
-3%
-3%
-4%
-2%
-3%
-3%
-3%
-3%
Overseas
-5%
-5%
+7%
+17%
+24% +29%
+24%
+9%
-0%
+2%
+2%
-1%
+26%
+1%
+3%
+21%
(Forex excluded)
+2%
+0%
+4%
+1%
+0%
-2%
-3%
-5%
-3%
-6%
+2%
+0%
-5%
+2%
-1%
Total
-3%
-5%
+3%
+8%
+14% +17%
+14%
+6%
-1%
+1%
+0%
-2%
+15%
-0%
+1%
+12%
(Forex excluded)
+1%
-2%
+1%
-2%
-1%
+0%
-2%
-3%
-5%
-3%
-5%
+0%
-1%
-4%
+0%
-2%
+9%
+1%
+1%
-8%
-4%
-5%
-3%
+10%
-11%
+7%
-7%
+4%
-4%
-4%
+0%
-0%
Overseas
-3%
-10%
+10% +22%
+11% +25%
+13%
-14%
+6%
+6%
+7%
-1%
+16%
+7%
+5%
+6%
(Forex excluded)
+6%
-5%
+6%
+7%
-11%
-3%
-10%
-24%
+0%
+2%
-1%
+3%
-8%
+0%
+4%
-13%
Total
+4%
-3%
+5%
+3%
+2%
+7%
+4%
-1%
-3%
+7%
-0%
+2%
+4%
+1%
+2%
+3%
(Forex excluded)
+8%
-1%
+3%
-3%
-7%
-4%
-6%
-6%
-6%
+4%
-4%
+3%
-5%
-2%
+2%
-6%
Japan
+5%
+6%
-9%
-2%
-1%
+4%
+2%
+4%
-15%
-20%
-20%
+0%
+2%
-18%
+0%
+2%
Overseas
+5%
+13%
+7%
+31%
+38% +31%
+36%
+10%
+16% +19% +22%
+9%
+35%
+19%
+14%
+27%
+11%
+18%
+4%
+14%
+12%
+8%
-3%
+10% +13% +11%
+11%
+7%
+11%
+12%
+4%
+5%
+12%
+3%
+23%
+29% +25%
+29%
+9%
+10% +12% +15%
+7%
+28%
+12%
+11%
+22%
+10%
+15%
+1%
+10%
+9%
+7%
-2%
+6%
+8%
+6%
+6%
+9%
+4%
MFP
Office Print Japan
PP ＊
(Forex excluded)
Total
(Forex excluded)
+22% +29%
-2%
+0%
+11% +15%
+1%
+3%
+3%
+7%
+6%
＊Cut sheet PP, Continuous form PP, Wide format (excluding sales of solutions and third party products）
January 30, 2015
(C)2015 Ricoh Company, Ltd. All Rights Reserved
28
Appendix: historical data (6)
MFP & printer color ratio
FY2013/03
MFP
Office Printer
PP
FY2014/03
FY2015/03
FY13/03
FY14/03
FY15/03
FY13/03
FY14/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q1-Q3
Q1-Q3
Q1-Q3
Total
Total
Japan
70%
68%
74%
71%
76%
80%
85%
80%
85%
85%
87%
71%
80%
86%
71%
80%
Overseas
56%
55%
56%
56%
54%
52%
58%
61%
62%
61%
63%
56%
55%
62%
56%
57%
Total
61%
59%
62%
61%
61%
60%
67%
68%
70%
68%
70%
61%
63%
69%
61%
64%
Japan
44%
43%
45%
49%
47%
41%
42%
44%
49%
47%
36%
44%
43%
44%
46%
43%
Overseas
32%
32%
33%
29%
32%
33%
31%
34%
31%
39%
38%
32%
32%
36%
31%
33%
Total
36%
36%
37%
36%
36%
36%
34%
38%
35%
41%
37%
36%
35%
38%
36%
36%
Japan
6%
8%
7%
14%
31%
29%
27%
32%
32%
34%
27%
7%
29%
31%
9%
30%
Overseas
56%
54%
56%
53%
56%
62%
66%
69%
65%
63%
67%
56%
62%
65%
55%
64%
Total
47%
44%
46%
45%
53%
58%
60%
64%
60%
59%
62%
46%
57%
60%
45%
59%
*For hardware shipment, by value
Number of employees
FY12/03
Japan
Overseas
FY15/03
Q1
Q2
Q3
37,401
36,873
37,273
36,918
36,752
Americas
33,262
31,475
31,853
31,697
31,639
31,797
EMEA
17,637
18,229
18,422
18,485
18,449
18,520
China
11,960
12,094
11,932
12,151
12,709
12,942
7,864
8,232
9,115
9,706
10,204
10,218
70,723
70,030
71,322
72,039
73,001
73,477
109,242
107,431
108,195
109,312
109,919
110,229
Sub total
January 30, 2015
FY14/03
38,519
AsiaPacific
Total
FY13/03
(C)2015 Ricoh Company, Ltd. All Rights Reserved
*As of end of each period
29