Presentation

Consolidated Results
for the 9 months
ended December 31, 2011
January 31, 2012
Zenji Miura,
Director, Deputy President & CFO
Ricoh Company, Ltd.
Image: Low-end A4 size MFP “SP100SF” (upper left) and compact A4 size printer “SP100” (lower right)
FY2012/03 Apr-Dec results overview
¾ 36.6 billion yen loss in operating income for the 9 months of FY2012/03.
¾ 38.5 billion yen profit by excluding extraordinary factors from above,
such as restructuring charges, Japan earthquake & Thai flood impact
and impairment losses. (see next slide about impairment)
¾ Q3 business were impacted by forex, Thai flood impact and global
economy uncertainty.
¾ Strategy execution for 17th MTP on track with new products launch
for emerging markets, MDS & IT service business expansion and
executing restructuring program.
¾ Overall forecast for FY2012/03 revised down under the results of Q3
and unclear global economic condition, with forecasting losses in
operating income and net income due to the impairment loss and
the impact from tax rate change. (see next slide about impairment)
¾ Also revised down annual dividend forecast to 25 yen per share
from 33 yen of previous forecast.
January 31, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
2
Extraordinary factors of FY2012/03 Apr-Dec results
Impact of newly consolidated company
- The impact of Pentax Ricoh Imaging Co. was 8.2 billion in net sales and no impact in operating income on Q3.
Impact from Thai flood
- No direct impact for Ricoh Group production site in Thailand. Supply problem occurred due to the shortage of parts from
suppliers from last half of Q3. As a results, 5.3 billion yen net sales and 1.9 billion yen operating income decrease on Q3.
Impact of restructuring charge
- Restructuring charges in net were 0.3 billion expense (net of 5.7 billion yen expenses and 5.4 billion benefit) on Q3.
24.2 billion yen expense (net of 29.6 billion yen expense and 5.4 billion benefit) on 9 months total.
- 20.0 billion yen expense (net of 31.0 billion yen expense and 11.0 billion benefit) on full year. Same as previous forecast.
- The results of voluntary retirement program in Japan: total numbers of applicants 2,340 with 24.7 billion yen expense.
Impairment losses for goodwill and long-lived asset
- Booked impairment losses in total 36.9 billion yen for goodwill in amount of 27.4 billion yen and long-lived asset in
amount of 9.5 billion yen for Production Printing business according to U.S. GAAP by annual impairment test.
- Impairment losses booked as SG&A.
- No cash payment for impairment losses for goodwill and long-lived asset.
Impairment losses for available-for-sales investment securities (impact on pre-tax profit)
- Booked impairment losses for the available-for-sales investment securities due to decline of price at stock market for
other than temporary basis in amount of 5.0 billion yen
Recalculated deferred tax assets and liabilities due to the tax rate change (impact on net profit)
- Income taxes are increased by 7.2 billion yen in the Q3 by recalculating deferred tax assets and liabilities due to new
laws proclaimed by Japanese government on December 2, 2011.
January 31, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
3
FY2012/03 Apr-Dec income statement
(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)
January 31, 2012
US $1
Euro 1
FY2011/03
Apr-Dec
result
FY2012/03
Apr-Dec
result
649.4
789.6
1,439.0
599.4
41.7%
545.4
37.9%
53.9
3.8%
41.3
2.9%
20.3
1.4%
28.03
644.8
751.6
1,396.5
569.0
40.7%
605.6
43.3%
-36.6
-2.6%
-47.9
-3.4%
-52.1
-3.7%
-71.86
86.90
113.53
79.00
110.71
Y-o-Y Comparison
Change
Change(%)
Change(%)
without Forex
-4.5
-0.7%
-0.7%
-37.9
-4.8%
+1.2%
-42.5
-3.0%
+0.3%
-30.4
-5.1%
+60.1
+11.0%
-90.6
－
Excluding restructuring
charges, earthquake&flood
impact and impairment
38.5 billion
(OP margin: 2.8%)
-89.2
－
-72.4
－
Investment
(billions of yen)
FY11/03 FY12/03
Apr-Dec Apr-Dec
R&D
-99.89
-7.90
-2.82
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
(% on sales
CAPEX
Depreciation
81.3
89.3
5.6%
6.4%)
48.6
50.1
53.8
46.8
(tangible fixed assets)
4
FY2012/03 Apr-Dec sales
By Category
By Area
(billions of Yen)
(billions of Yen)
Change(without forex)
1,439.0
92.5
82.1
135.8
1,396.5
97.0
74.0
-3.0%(+0.3%)
Change(without forex)
1,439.0
96.6
Other
+4.9%(+5.3%)
143.3
303.5
Industrial Products
1,396.5
102.4
302.6
-9.8%(-8.2%)
389.4
1,128.5
1,082.0
Network System
Solutions
+5.5%(+5.9%)
789.6
346.5
751.6
1,264.4
649.4
Apr-Dec
Apr-Dec
The Americas
-11.0%(-1.9%)
644.8
Japan
Imaging & Solutions
FY2012/03
Europe
-0.3%(+2.5%)
-4.8%(+1.2%)
1,225.3
FY2011/03
Other
+6.0%(+9.4%)
Overseas
Imaging Solutions
-4.1%(-0.1%)
-3.0%(+0.3%)
-3.1%(+0.5%)
-0.7%(-0.7%)
FY2011/03
FY2012/03
Apr-Dec
Apr-Dec
* Sales category of MDS (Managed Document Services) was changed from Network System Solutions to Imaging Solutions.
The reclassification was made to the prior year's figures to conform with the current year's presentation.
January 31, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
5
FY2012/03 Apr-Dec results supplement
Sales y-o-y excluding forex
+2.0%
+1.4%
-0.1%
+2.6%
0.0%
+0.4%
-2.0%
Q1
Q2
Q3
Q1
Q2
Q3
Q4
Q2
Q3
-11.6%
-14.0%
-3.0%
-7.3%
-9.4%
+9.7%
Imaging & Solutions
+4.5
+3.6
+1.9
+4.6
+3.5% +0.1% +3.4%
0.0%
+2.8
+0.7
-4.0% -1.0%
+1.0
0.0%
Europe
-1.7
-0.2
-1.6
+16.8 +15.6
Industrial products
+9.1
+0.0%
+50.7%
+37.1%
By Category
+4.6
+1.0%
The Americas
FY2012/03
FY2011/03
FY2010/03
Q1
+3.0% +5.2% +2.7%
0.0%
by Area
-0.2%
-1.9%
Q4
+7.1%
Japan
+4.8%
+2.6%
+3.8%
+8.6
+0.4%
+2.2%
-2.1% -0.2% -3.4%
+4.5% +4.7% +5.6%
+5.2%
+2.5%
0.0%
+0.6
-0.3%
-3.3%
0.0%
-6.3%
-2.0
-7.9
-7.9
-8.7
-22.0 -19.6
+33.9
Other
+2.1
-6.8%
+39.6%
+20.1%
+8.6% +4.3% +6.1%
+4.3%
Other
+3.7
0.0%
+16.9%
+10.8%
+1.3%
0.0%
-7.1
-9.8
-1.3
-4.6
-8.2
-4.6
-9.8
-12.1%
-27.0
Q1
Q2
Q3
FY2010/03
January 31, 2012
Q4
Q1
Q2
Q3
FY2011/03
Q4
Q1
Q2
Q3
FY2012/03
Q1
-3.9%
Q2
Q3
FY2010/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
Q4
Q1
Q2
Q3
FY2011/03
Q4
Q1
Q2
Q3
FY2012/03
6
17th MTP milestones
17th MTP: 3 years business plan through April 1, 2011 to March 31, 2014
(Announced on May 26, 2011)
Business Creation and Integration
Maintain top market share in core business
¾5 models of A3 size MFP and 2 of A4 size MFP launched
Reinforcing Production Printing Business structure
¾Pro C751EX/C651EX for light production segment launched (Jun, 2011)
¾Established Ricoh Production Print Solutions (Apr, 2011)
MP5002
Growth in Emerging markets
MP3352
¾5 models of A4 size MFP and 7 models of A4 printer launched
¾Ricoh Vietnam sales company established (Nov, 2011)
Expansion of new business
A4
¾eWriter solutions introduced (Jun, 2011)
¾1st product of Unified Communication System announced (Jul, 2011)
A4
SP5100SF
SG3100
PJ WX4130
UCS S7000
¾LED lighting launched (Jul, 2011)
¾2 models of Ultra short focus projector, 2 standard models and
2 high-end models of projector launched
Establish highly efficient management
Create leaner organization through CRGP*
¾Voluntary early retirement program in Japan
January 31, 2012
*CRGP=Corporate Restructuring & Growth Program
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
7
FY2012/03 Apr-Dec operating income y-o-y comparison
Gross profit items
+7.1
+2.7
SG&A items
Extraordinary items
-7.9
-6.6
Sales
Product
Cost Down
(billions of yen)
-10.7
R&D
OP excluding restructuring charge,
earthquake&flood impact and impairment
Expenses
-24.2
Forex, net
53.9
38.5
-14.0
-36.9
FY11/03
Apr-Dec
Operating Income
Restructuring Quake
Charge, net &Flood
Impact
-90.5
-36.6
Impairment FY12/03
Apr-Dec
Operating Income
January 31, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
8
FY2012/03 Apr-Dec results supplement
SG&A
OP margin / OP
SG&A ratio (%)
OP margin (%)
Excluding restructuring charge,
earthquiake&flood impact and Impairment
4.9% 5.2% 4.5%
1.2% 1.6%
39.5%
47.5%
38.4%
43.1%
39.5%
38.6%
36.7%
37.8%
3.3% 3.4% 3.0% 3.2% 3.9%
1.1%
0.0%
1.2%
38.2%
38.4%
37.4%
34.9%
34.3%
2.1%
38.9%
36.8%
Excluding restructuring charge,
earthquiake&flood impact and Impairment
-2.5%
-7.6%
SG&A (billion yen)
Excluding restructuring charge,
earthquiake&flood impact and Impairment
Operating Income (billion yen)
217.6
Excluding restructuring charge,
earthquiake&flood impact and Impairment
15.2 15.0 18.4
0
6.0
7.9
23.7 28.2 21.8
16.1 15.9
quake
6.2
quake
quake
194.2 189.9
186.4 185.6 182.4 182.4 180.5 184.3 184.0
quake&flood
5.2
10.0
203.9
150.0
SG&A
(R&D excluded)
167.0 161.2 160.6 157.7 156.8 154.1
153.2 145.8 151.4 141.9 147.8
-11.7
-34.8
R&D
27.2
28.7
25.8
27.9
25.6
28.3
27.3
29.5
27.6
31.9
29.8
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
0.0
Q1
Q2
Q3
FY2010/03
January 31, 2012
Q4
Q1
Q2
Q3
FY2011/03
Q4
Q1
Q2
Q3
FY2012/03
FY2010/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
FY2011/03
FY2012/03
9
FY2012/03 Apr-Dec business segment
87%
[ MFP, Printer y-o-y growth ]
Imaging & Solutions
Hardware Non-hard
(by value, LC base)
MFP&Printer combined
Total
Total
Change(without forex)
-3.1%
1,264.4
Network
System
Solutions
135.8
1,225.3 (+0.5%)
143.3
-2%
+1%
MFP(Copier)
-3%
-1%
Printer
+3%
+8%
See page 24 for more data
+5.5%
(+5.9%)
[ MDS business ratio in Imaging & Solutions ]
8% (including hardware, non-hardware and labor charge)
[ Appendix ] OP&OP margin by quarterly
Imaging
Solutions
1,128.5
(billions of yen, %)
1,082.0
-4.1%
(-0.1%)
OP Margin
77.5
8.5%
Excluding
restructuring
charge
& impairment
5.5% 6.3%
9.6% 9.8% 8.9% 8.2% 8.5%
5.9% 6.5% 7.3% 5.0%
Excluding restructuring
charge & impairment
2.6%
108.1
30.5
OP Margin
20.6
[ Sales ]
[ OP ]
[ Sales ]
1.7%
23.8 27.6
41.4 47.4 37.9
35.0 35.1
Excluding
restructuring
charge
& impairment
-4.3%
20.2
26.3 26.8
[ OP ]
10.8
-17.0
FY2011/03 Apr-Dec
FY2012/03 Apr-Dec
Q1
* Excluding “Corporate and Eliminations”
January 31, 2012
(billions of Yen)
Q2
Q3
FY2010/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
Q4
Q1
Q2
Q3
FY2011/03
Q4
Q1
Q2
Q3
FY2012/03
10
Imaging & Solutions supplement
MFP & Printer combined y-o-y
Imaging & Solutions sales by products
*Sales growth by value excluding forex impact
*Percentage of sales
NSS,
other
FY12/03 Q2
sales portion
(billion yen)
400.0
+15%
8%
Non-hardware
+10%
+8%
+8%
+5%
+5%
+2%
+6%
+3%
+1%
+1%
MFP
57%
200.0
-1%
-2%
-5%
+1%
+0%
+1% +1%
+0%
+0%
6%
300.0
+5%
+0%
-10%
Imaging,
other
-2%
-4%
-8%
100.0
-7%
20%
Printer (Office&Production)
-10%
Hardware
10%
-15%
0.0
Q1
Q2
Q3
FY2010/03
Q4
Q1
Q2
Q3
FY2011/03
Q4
Q1
Q2
Q3
Q1
FY2012/03
Q2
Q3
FY2010/03
MDS(Labor charge)
& IT services
Q4
Q1
Q2
Q3
Q4
FY2011/03
Q1
Q2
Q3
FY2012/03
MDS: Managed Document Service
NSS: Network System Solutions
See page 26 for more data
January 31, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
11
FY2012/03 Apr-Dec business segment
5%
Industrial Products
Comment
Total
Total
86.2
77.7
-9.9%
3.6
-11.1%
Profit down due to restructuring charge
and decrease in sales after the quake
[ Products and services ]
4.1
Intersegments
Semiconductors
82.1
Unaffiliated
customers
Thermal media
Electric components
[ Appendix ] OP by quarterly
74.0
-9.8%
(-8.2%)
(billions of Yen)
OP Margin
0.7
0.4 0.5
0.9%
0.2
OP Margin
-3.3%
-2.6
[ Sales ]
[ OP ]
FY2011/03 Apr-Dec
[ Sales ]
-0.3 -0.4 -0.2 -0.3
January 31, 2012
-0.4
-0.4
[ OP ]
-1.6
FY2012/03 Apr-Dec
Q1
* Excluding “Corporate and Eliminations”
-0.2
(billions of Yen)
Q2
Q3
FY2010/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
Q4
Q1
Q2
Q3
FY2011/03
Q4
Q1
Q2
Q3
FY2012/03
12
FY2012/03 Apr-Dec business segment
8%
Other
Comment
Profit down due to new business related
expenses and decrease in sales after
the quake&flood
[ Products and services ]
Finance
97.0
92.5
OP Margin
-1.7%
-3.7%
(billions of Yen)
-0.1 -0.3
-0.2
[ Sales ]
[ OP ]
-0.8 -0.8
-3.5
-1.5
[ Sales ]
Logistics
[ Appendix ] OP by quarterly
+4.9%
(+5.3%)
OP Margin
Digital camera
-0.5
-0.7
-1.0
-1.4
-2.3
[ OP ]
-3.3
FY2011/03 Apr-Dec
FY2012/03 Apr-Dec
Q1
* Excluding “Corporate and Eliminations”
January 31, 2012
(billions of Yen)
Q2
Q3
FY2010/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
Q4
Q1
Q2
Q3
FY2011/03
Q4
Q1
Q2
Q3
FY2012/03
13
FY2012/03 Apr-Dec geographic segment
Japan
(billions of Yen)
972.2
939.7
* Excluding “Corporate and Eliminations”
The Americas
(billions of Yen)
-3.3%
391.6
OP Margin
351.6 -10.2%
3.0%
OP Margin
Excluding restructuring
Charge & impairment
28.6
9.5
Excluding
impairment
-0.9%
OP Margin
OP Margin
-8.8
-7.7%
-3.6
-3.2%
-26.9
-30.3
[ Sales ]
[ OP ]
[ Sales ]
FY2011/03 Apr-Dec
[ OP ]
[ Sales ]
FY2012/03 Apr-Dec
[ OP ]
FY2011/03 Apr-Dec
[ OP by quarterly ]
[ Sales ]
FY2012/03 Apr-Dec
[ OP by quarterly ]
Excluding
impairment
Excluding restructuring
Charge & impairment
2.5
5.3
13.0 12.0
16.9
8.1
3.6
1.2
5.7
2.5
-21.4
1.3
January 31, 2012
FY2011/03
0.2
-4.7 -3.6 -3.3 -0.1
-0.9 -1.1 -1.5
FY2012/03
-4.2 -1.7 -2.9
-21.0
-14.6
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
FY2010/03
[ OP ]
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
FY2010/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
FY2011/03
FY2012/03
14
FY2012/03 Apr-Dec geographic segment
Europe
(billions of Yen)
(billions of Yen)
305.9 -0.2%
306.4
Excluding
impairment
OP Margin
6.4%
15.0
19.6
[ Sales ]
* Excluding “Corporate and Eliminations”
Other
[ Sales ]
FY2011/03 1H
OP Margin
207
-0.2%
Excluding impairment
4.9%
OP Margin
4.3%
13.1
[ OP ]
207.4
6.9
10.2
[ OP ]
[ Sales ]
FY2012/03 1H
5.2
[ OP ]
[ Sales ]
FY2011/03 1H
[ OP by quarterly ]
OP Margin
2.5%
[ OP ]
FY2012/03 1H
[ OP by quarterly ]
Excluding
impairment
5.2
6.4
8.1
10.3
6.2
6.2
7.1
8.0
5.2
7.1
2.6
0.7
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
FY2010/03
January 31, 2012
FY2011/03
Excluding
impairment
FY2012/03
2.4
3.5
4.0
4.3
4.4
3.7
1.9
2.1
1.7
3.0
2.1
0.4
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
FY2010/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
FY2011/03
FY2012/03
15
Balance sheet as of December 31, 2011
Assets
(billions of yen)
Current Assets
Cash & time deposits
Trade receivables
Inventories
Other current assets
Fixed Assets
Tangible fixed assets
Finance receivable
Other investments
Liabilities and Equity
As of
Dif ｆ . from
Mar
31, '10
Dec 31, 2011
(billions of yen)
1,041.4
159.2
625.3
201.9
54.9
-32.6
-21.9
-32.4
+30.8
-9.0
Current Liabilities
1,151.8
264.9
453.7
433.1
-36.5
+0.2
+7.9
-44.6
Fixed Liabilities
621.2
234.0
215.0
172.1
+6.5
-16.4
+64.0
-41.0
Total Equity
711.7
537.0
137.6
37.0
1,332.9
804.9
55.2
860.2
+46.8
+57.6
-3.3
-7.5
+53.3
-124.8
+2.4
-122.4
Total liabilities and Equity
2,193.2
-69.1
752.1
+121.7
Trade payables
Short-term borrowings
Other current liabilities
Long-term indebtedness
Accrued pension&severance costs
Other fixed liabilities
Total Liabilities
Total Shareholders' Investment
Noncontrolling Interest
2,193.2
Total Assets
-69.1
Exchange rate as of December 31, 2011 :
US$ 1
= ¥ 77.74 ( - 5.41)
EURO 1 = ¥ 100.71 ( -16.86)
January 31, 2012
As of
Difｆ. from
Mar
31, '10
Dec 31, 2011
Total debt
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
16
Balance sheet indexes
Total assets turn over (per month)
Equity ratio
Y-o-Y
0.97
1.00
0.88
2,513.4
2,243.4 2,214.3
0.82
0.84
0.84
Y-o-Y
47.7% 48.8%
0.84
2,383.9 2,262.3
2,191.0 2,193.2
1,070.9 1,080.1
38.8% 40.8% 41.1% 41.4% 36.7%
975.3
973.3
929.8
907.5
804.9
Shareholders’
equity
(billions of Yen)
Total Assets
(billions of Yen)
End of End of End of End of End of End of End of
Mar ‘07 Mar ‘08 Mar ‘09 Mar ‘10 Mar ‘11 Dec ‘10 Dec ‘11
End of End of End of End of End of End of End of
Mar ‘07 Mar ‘08 Mar ‘09 Mar ‘10 Mar ‘11 Dec ‘10 Dec ‘11
Inventories/Averaged cost of sales (month)
Debt/Equity ratio (multiplies)
Y-o-Y
1.83
1.78
1.86
184.3
192.0
191.5
1.96
1.70
169.2
2.20
Y-o-Y
1.78
171.0
0.80
D/E ratio
0.39
183.2
0.46
D/E ratio
exclude RL
Inventories
(billions of yen)
Total debt
(billions of Yen)
415.6
189.2
End of End of End of End of End of End of End of
Mar ‘07 Mar ‘08 Mar ‘09 Mar ‘10 Mar ‘11 Dec ‘10 Dec ‘11
January 31, 2012
Total debt
exclude RL
(billions of Yen)
0.68
0.43
0.41
0.69
0.93
0.36
201.9
0.18
0.70
0.15
384.3
779.1
450.3
684.4
415.4
752.1
630.4
627.8
382.0
165.3
End of End of End of End of End of End of End of
Mar ‘07 Mar ‘08 Mar ‘09 Mar ‘10 Mar ‘11 Dec ‘10 Dec ‘11
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
17
FY2012/03 Apr-Dec 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
Purchase of business
Other investing activities
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
Net increase in cash and equivalents
Cash and equivalents at end of period
January 31, 2012
FY2011/03
Apr-Dec
FY2012/03
Apr-Dec
23.1
69.5
[ 92.6 ]
-18.3
74.3
-47.9
-0.4
-15.7
-64.1
10.1
-68.0
-23.9
-0.6
-92.6
-11.8
-94.3
147.8
-48.7
65.9
[ 17.2 ]
-43.8
-26.6
-53.0
-15.0
-20.4
-88.5
-115.1
126.0
-23.9
-0.6
101.4
-8.7
-22.4
156.6
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
< by Annually >
Free Cash Flow
(billions of yen)
101.1
51.8
38.0
-3.9
-115.1
-195.6
FY
07/03
FY
08/03
FY
09/03
FY
10/03
FY
11/03
FY
12/03
Apr-Dec
Free cash flow by quarterly
58.8
23.7
5.9
12.4
27.8
20.5
-2.6 -7.6
-19.1-22.3
-73.6
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
FY2010/03
FY2011/03
FY2012/03
18
FY2012/03 forecast < revised >
(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)
January 31, 2012
US $1
Euro 1
FY2011/03
Results
FY2012/03
forecast
(on Oct '11)
FY2012/03
Forecast
(revised)
875.8
1,066.1
1,942.0
790.0
40.7%
729.8
37.6%
60.1
3.1%
45.4
2.3%
19.6
1.0%
27.08
905.0
1,045.0
1,950.0
780.0
40.0%
743.0
38.1%
37.0
1.9%
26.5
1.4%
10.0
0.5%
13.78
885.0
1,015.0
1,900.0
759.0
39.9%
777.0
40.9%
-18.0
-0.9%
-33.0
-1.7%
-46.0
-2.4%
-63.40
85.77
113.28
77.41
109.47
78.01
109.29
Y-o-Y comparison
Change
Change(%)
Change(%)
without Forex
+9.1
+1.0%
+1.0%
-51.1
-4.8%
+1.8%
-42.0
-2.2%
+1.5%
-31.0
-3.9%
+47.1
+6.5%
Excluding restructuring
charge, earthquake&flood
impact and impairment
56.4 billion
-78.1
－
(OP margin: 3.0%)
Investment
-78.4
－
(billions of yen)
R&D
-65.6
－
FY11/03 FY12/03
result forecast
110.8
115.0
5.7%
5.9%)
66.9
67.2
70.0
63.0
(% on sales
CAPEX
Depreciation
-90.48
(tangible fixed assets)
-7.76
Q4 Forex assumption
-3.99
1US$ =
75.00JPY
1Euro =
105.00JPY
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
20
FY2012/03 operating income forecast y-o-y comparison
Gross profit items
SG&A items
(billions of yen)
Extraordinary items
Change from latest forecast
-4.2
+5.0
+15.8
total 55.0bil down
-6.8
-13.5
-20.0
Sales
Product
Cost Down
R&D
Expenses
Forex, net
-17.5
601
(major factors)
Sales down
Earthquake
Thai flood
Forex
Expenses
Impairment
564
16.2bil (decrease)
2.0bil (increase)
5.5bil (decrease)
7.0bil (decrease)
1.2bil (increase)
36.9bil (decrease)
-36.9
-78.1
FY2011/03
OP excluding restructuring charge,
quake&flood impact and impairment
Operating income
results
Restructuring Quake
Charge, net &Flood
Impact
-180
Impairment
FY2012/03
Operating income
forecast
Forex assumptions
FY2011/03
(yen)
US$
EURO
January 31, 2012
result
85.77
113.28
FY2012/03 FY2012/03
ex-forecast forecast difference
77.41
109.47
78.01
109.29
-7.76
-3.99
Forex impacts
(billions of yen)
Sales
Impacts of forex
per yen annually
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
US$
EURO
6.5
3.5
OP
1.3
1.5
21
FY2012/3 sales forecast
By Category
By Area
(billions of Yen)
(billions of Yen)
Change(without forex)
1,942.0
1,900.0
-2.2%(+1.5%)
Change(without forex)
1,942.0
1,900.0
Other
121.8
106.8
181.4
Other
135.7
96.9
+11.3%(+11.9%)
191.8
Industrial Products
130.2
136.8
413.9
409.6
Europe
-1.0%(+2.8%)
521.9
468.6
The Americas
-10.2%(-1.1%)
1,066.1
1,015.0
-9.3%(-7.0%)
1,531.9
1,475.6
Network System
Solutions
+5.7%(+6.2%)
Imaging Solutions
-3.7%(+0.6%)
1,713.3
875.8
results
forecast
Overseas
885.0
Japan
Imaging & Solutions
FY2012/03
+5.0%(+10.3%)
-4.8%(+1.8%)
1,667.4
FY2011/03
-2.2%(+1.5%)
-2.7%(+1.2%)
+1.0%(+1.0%)
FY2011/03
FY2012/03
results
forecast
* Sales category of MDS (Managed Document Services) was changed from Network System Solutions to Imaging Solutions.
The reclassification was made to the prior year's figures to conform with the current year's presentation.
January 31, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
22
Annual Financial Indexes
Dividend
Financial Indexes
365.9%
85.9%
～
～
～
～
121.9%
Operating income
on net sales
ROE
11.0%
Excluding
restructuring charge,
quake&flood impact
and impairment
9.9%
Consolidated Payout Ratio
18.3%
( Dividend per share / EPS )
22.6%
8.4%
2.0%
2.2%
2.3%
2.5%
2.6%
3.6%
3.3%
3.1%
111.7
2.9%
106.4
2.1%
0.6%
-0.9%
146.04
EPS (Yen)
-5.5%
Dividend per share
(Yen)
38.41
33 9.02 33
28
3.0%
2.2%
DOE
153.10
8.2%
33
27.8
27.08
33
19.6
6.5
25
Net income (billions of yen)
-63.40
FY
07/03
FY
08/03
January 31, 2012
FY
09/03
FY
10/03
FY
11/03
FY12/03
forecast
-46.0
FY
07/03
FY
08/03
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
FY
09/03
FY
10/03
FY
11/03
FY12/03
forecast
23
FY2012/03 Q3 income statement
(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)
January 31, 2012
US $1
Euro 1
FY2011/03
Q3 result
FY2012/03
Q3 result
210.3
257.8
468.1
196.5
42.0%
180.5
38.6%
15.9
3.4%
13.2
2.8%
7.8
1.7%
10.79
210.3
247.2
457.6
182.7
39.9%
217.6
47.5%
-34.8
-7.6%
-40.1
-8.8%
-44.7
-9.8%
-61.71
82.66
112.30
77.39
104.29
Y-o-Y Comparison
Change
Change(%)
Change(%)
without Forex
+0.0
+0.0%
+0.0%
-10.5
-4.1%
+2.5%
-10.5
-2.3%
+1.4%
-13.7
-7.0%
+37.0
+20.5%
-50.8
－
-53.4
Investment
－
(billions of yen)
FY11/03 FY12/03
Q3
Q3
R&D
(% on sales
-52.6
－
CAPEX
Depreciation
27.3
29.8
5.8%
6.5%)
9.1
16.7
17.1
15.9
(tangible fixed assets)
-72.50
-5.27
-8.01
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
Q3 forex planed
1US$ =
75.00JPY
1Euro =
105.00JPY
24
FY2012/03 Q3 sales
By Category
By Area
(billions of Yen)
(billions of Yen)
Change(without forex)
468.1
457.6
28.3
26.3
37.7
42.3
-2.3%(+1.4%)
Other
23.6
45.3
Change(without forex)
468.1
30.7
+33.0%(+33.9%)
Industrial Products
102.4
457.6
34.2
100.6
-10.4%(-8.7%)
371.0
350.9
Network System
Solutions
+7.0%(+7.8%)
Imaging Solutions
-5.4%(-1.2%)
413.4
396.2
124.5
257.8
112.3
247.2
-2.3%(+1.4%)
Other
+11.2%(+16.9%)
Europe
-1.7%(+5.2%)
The Americas
-9.8%(-3.4%)
Overseas
-4.1%(+2.5%)
210.3
210.3
Japan
Imaging & Solutions
+0.0%(+0.0%)
-4.1%(-0.2%)
FY2011/03
FY2012/03
FY2011/03
FY2012/03
Q3
Q3
Q3
Q3
* Sales category of MDS (Managed Document Services) was changed from Network System Solutions to Imaging Solutions.
The reclassification was made to the prior year's figures to conform with the current year's presentation.
January 31, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
25
Appendix : Data for Imaging & Solutions
Imaging & Solutions sales by products
Q1
*Percentage of sales
FY2011/03
Q2
Q3
Q4
FY2012/03
Q1
Q2
Q3
FY11/03 FY12/03
Q1-Q3 Q1-Q3
FY10/03 FY11/03
Total
Total
MFP
59%
57%
59%
59%
59%
56%
57%
58%
57%
59%
59%
Printer
19%
19%
19%
19%
19%
19%
20%
19%
19%
19%
19%
Office
12%
11%
11%
11%
11%
10%
10%
12%
10%
11%
11%
Production
8%
8%
7%
8%
8%
9%
10%
8%
9%
8%
8%
Imaging Solutions, other
6%
5%
6%
6%
6%
6%
6%
6%
6%
7%
6%
MDS(Labor charge) & IT Services
9%
10%
10%
10%
9%
10%
10%
9%
10%
8%
9%
Network System Solutions, other
7%
9%
7%
6%
8%
9%
8%
7%
8%
7%
7%
MFP, Printer Non-hard ratio
Q1
MFP
Printer
January 31, 2012
*Value based ratio including forex
FY2011/03
Q2
Q3
Q4
Q1
FY2012/03
Q2
Q3
FY11/03 FY12/03
Q1-Q3 Q1-Q3
FY10/03 FY11/03
Total
Total
Japan
62%
61%
63%
54%
56%
61%
64%
62%
60%
59%
60%
Overseas
53%
50%
52%
49%
56%
51%
54%
52%
54%
52%
51%
Total
56%
54%
56%
51%
56%
55%
57%
55%
56%
55%
54%
Japan
82%
79%
80%
80%
81%
82%
82%
81%
81%
81%
80%
Overseas
70%
67%
68%
66%
67%
63%
64%
68%
65%
67%
68%
Total
74%
71%
73%
71%
72%
71%
71%
73%
72%
72%
72%
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
26
Appendix : Data for Imaging & Solutions
MFP, Printer y-o-y
< Hardware >
MFP&Printer
MFP
Printer
January 31, 2012
*By value
Q1
FY2011/03
Q2
Q3
Japan
-4%
+4%
+2% -10%
+18% -2%
-4%
+1%
Overseas
-6%
-4%
-5%
-3%
-13%
-7%
-11%
(Forex excluded)
+1%
+9%
+6%
+7%
-8%
-1%
Total
-5%
-2%
-3%
-5%
-4%
(Forex excluded)
+0%
+8%
+5%
+1%
+0%
Japan
-4%
+4%
Overseas
-9%
(Forex excluded)
Q4
FY2012/03
Q1
Q2
Q3
FY11/03 FY12/03
Q1-Q3 Q1-Q3
FY10/03 FY11/03
Total
Total
+4%
-9%
-3%
-5%
-10%
-11%
-4%
-5%
+5%
-5%
-3%
+6%
-5%
-9%
-3%
-6%
-10%
-4%
-2%
-4%
+4%
-2%
-5%
+3%
+1% -12%
+18% -4%
-5%
+0%
+3%
-8%
-4%
-4%
-5%
+0%
-14%
-6%
-14%
-6%
-11%
-13%
-5%
-2%
+9%
+6% +11%
-8%
-1%
-8%
+4%
-6%
-5%
+6%
Total
-8%
-2%
-3%
-4%
-4%
-5%
-11%
-4%
-7%
-18%
-4%
(Forex excluded)
-3%
+7%
+5%
+2%
+0%
-2%
-7%
+3%
-3%
-8%
+3%
Japan
+2%
+1%
+7%
+9%
+12% +13% +4%
+3%
+10%
-19%
+5%
Overseas
+15% -1%
-5%
-16%
-11%
-9%
+4%
+2%
-5%
-2%
-4%
(Forex excluded)
+20% +11% +6%
-7%
-5%
-3% +12%
+12%
+1%
+7%
+6%
Total
+11% -1%
-2%
-11%
-6%
-4%
+4%
+2%
-2%
-6%
-2%
(Forex excluded)
+15% +8%
+6%
-4%
-1%
+1% +10%
+10%
+3%
+0%
+6%
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
27
Appendix : Data for Imaging & Solutions
MFP, Printer y-o-y
< Non-hardware >
MFP&Printer
MFP
Printer
Q1
FY2011/03
Q2
Q3
Q4
FY2012/03
Q1
Q2
Q3
Japan
-1%
-2%
-1%
-2%
-5%
+4%
-2%
-2%
Overseas
-3%
-8%
-9%
-7%
-4%
-2%
-4%
(Forex excluded)
+3%
+4%
+2%
+3%
+2%
+3%
Total
-3%
-6%
-6%
-5%
-4%
(Forex excluded)
+2%
+1%
+1%
+1%
Japan
-2%
-3%
-1%
Overseas
-9%
(Forex excluded)
FY11/03 FY12/03
Q1-Q3 Q1-Q3
FY10/03 FY11/03
Total
Total
-1%
-5%
-2%
-7%
-3%
-1%
-7%
+2%
+3%
+2%
+8%
+3%
+1%
-3%
-5%
-2%
-2%
-5%
-1%
+3%
+1%
+1%
+1%
+3%
+1%
-3%
-5%
-3%
-4%
-2%
-4%
-7%
-2%
-11% -11%
-6%
-4%
-3%
-7%
-10%
-5%
+1%
-9%
-1%
+1%
+0%
+4%
+1%
+2%
-1%
+0%
+1%
+10%
+1%
Total
-6%
-8%
-7%
-5%
-5%
-3%
-6%
-7%
-4%
-2%
-7%
(Forex excluded)
-2%
-1%
+0%
+1%
-2%
+0%
-2%
-1%
-1%
+3%
+0%
Japan
+1%
+0%
-2%
+1%
-4% +24% +4%
+0%
+8%
-1%
+0%
Overseas
+12% -1%
-2%
-10%
-2%
-1%
+7%
+3%
+1%
-6%
-1%
(Forex excluded)
+17% +11% +9%
+0%
+4%
+5% +13%
+12%
+8%
+3%
+9%
+8%
Total
(Forex excluded)
January 31, 2012
*By value
-1%
-2%
-5%
-3% +10% +5%
+2%
+4%
-4%
+0%
+10% +7%
+4%
+1%
+1% +14% +9%
+7%
+8%
+2%
+5%
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
28
Appendix : Data for Imaging & Solutions
MFP, Printer color ratio
Q1
MFP
Printer
January 31, 2012
*For hardware shipment, by value
FY2011/03
Q2
Q3
Q4
FY2012/03
Q1
Q2
Q3
FY11/03 FY12/03
Q1-Q3 Q1-Q3
FY10/03 FY11/03
Total
Total
Japan
67%
73%
76%
71%
76%
77%
78%
72%
77%
66%
72%
Overseas
50%
51%
53%
51%
56%
56%
58%
52%
57%
51%
52%
Total
56%
58%
60%
58%
64%
62%
64%
58%
63%
55%
58%
Japan
24%
22%
23%
28%
25%
27%
30%
23%
27%
29%
24%
Overseas
37%
34%
38%
46%
41%
49%
52%
36%
47%
36%
39%
Total
34%
31%
34%
41%
36%
43%
46%
33%
42%
34%
35%
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
29
FY2012/03 new products launched for Imaging & Solutions
* New : Released between Oct 28, 2011 to Jan 30, 2012
MFP
A4
A4
SP1200SF
SP1200S
A4
MP171LN
SP C230SFL
New
New
A4
A4
A4
New
SP C241SF
New
A4
A4
SP100SU
SP100SF
New
New
New
A4
SP5210SF
SP5200S
MP5002
MP4002
MP3352
MP2852
MP2352
Printer
A4
A4
SP4300
SP4310
A4
SP1210N
A4
SP C240DN
SP C242DN
New
A4
A4
SP100
SP5200DN
A4
SP5210DN
A4
A4
A4
SP3400L
New
A4
SG3100
A4
SP3410L
New
A4
SG2100
SG2010
PP
PP: Production Printing
Pro C751
January 31, 2012
Pro C651
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
30
FY2012/03 new products launched for Imaging & Solutions
* New : Released between Oct 28, 2011 to Jan 30, 2012
PJS
PJS: Projection system
PJ WX3231N
PJ WX3131
New
New
PJ WX4130N
PJ X3241N
New
PJ WX4130
PJ WX5350N
PJ X3241N
PJ X3131
New
PJ WX5360N
PJ WX6170N
PJ X2130
New
New
PJ WX6180N
PICK UP
New
New Ultra short-focus projector “PJ WX4130N”
UCS
UCS: Unified
Communication
System
PJ WX2130
P3000
S7000
- Only 11.7cm (approx.
4.6inches) is necessary to
project 48-inch screen.
- Projector for small tele-meeting
in combination with Ricoh's
Unified Communication System
January 31, 2012
(C)2012 Ricoh Company, Ltd. All Rights Reserved.
31
Appendix : recent sustainability milestones
Ricoh ranked the world’s best performing business for
sustainability performance among IT industry
Ricoh named one of the world’s most sustainable
companies for the eighth year in a row
(Jan, 2012)
Ricoh Pro C901/901S won the chairman prize of
ECCJ for Energy Conservation Award
(Jan, 2012)
Ricoh starts operation of
“Tohoku Re-use Center Kitakata”
(Jan, 2012)
January 31, 2012
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(Dec, 2011)
32
www.ricoh.com/IR/