Presentation

Consolidated
Results for the
year ended
March 31,
2013
April 26, 2013
Zenji Miura, Director,
President & CEO
Ricoh Company, Ltd.
*Color MFP “MP8002” improves basic functions and also connects
to cloud services
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.
April 26, 2013
(C)2013 Ricoh Company, Ltd. All Rights Reserved
1
FY2013/03 results overview
¾ Operating income turned to black from last corresponding period, and
grew ¥81.5 bil y-o-y to ¥63.4 bil. Net sales increased 1.1%, y-o-y
(excluding forex: +0.0%).
¾ Net sales from January to March increased 6.1%, y-o-y (excluding
forex: -1.8%). Operating income increased 21% and net income 75%.
¾ Structural reform activities are on track and contributed to profits of
¥55.8 bil, y-o-y.
¾ By improving the operating fund, FCF turned to ¥18.0 bil over the fiscal
year.
¾ Year end dividend of ¥16.5 per share as previously announced.
¾ We are aiming for an increase in operating income of 120% for
FY2014/03 and increase in net income of 146%.
¾ We envisage an annual dividend of ¥33 for FY2014/3 (a ¥4 increase).
April 26, 2013
(C)2013 Ricoh Company, Ltd. All Rights Reserved
2
FY2013/03 income statement
FY2012/03
Results
FY2013/03
forecast
(on Jan '12)
FY2013/03
Results
(Japan)
886.4
883.0
870.3
-16.0
-1.8%
-1.8%
(Overseas)
1,017.0
1,037.0
1,054.1
+37.0
+3.6%
+1.6%
Total
1,903.4
1,920.0
1,924.4
+21.0
+1.1%
+0.0%
752.6
765.0
768.6
+15.9
+2.1%
39.5%
39.8%
39.9%
770.6
690.0
705.1
-65.5
-8.5%
40.5%
35.9%
36.6%
(billions of yen)
Net sales
Gross profit
net sales %
SG&A
net sales %
63.4
-0.9%
3.9%
3.3%
-31.9
67.5
58.1
-1.7%
3.5%
3.0%
-44.5
36.0
32.4
-2.3%
1.9%
1.7%
-61.42
49.65
44.78
US $1
79.08
81.29
83.06
+3.98
Euro 1
109.05
105.44
107.08
-1.97
Income before income taxes
net sales %
Net income attribute to Ricoh Co.
net sales %
EPS (Yen)
Change(%)
Change(%)
without Forex
Investment
FY12/03 FY13/03
75.0
net sales %
(Yen)
Change
-18.0
Operating income
Exchange rate
Y-o-Y Comparison
+81.5
－
(billions of yen)
119.0
112.0
6.3%
5.8%)
CAPEX
73.2
Depreciation
64.9
86.5
60.4
R&D
(% on sales
+90.1
－
(tangible fixed assets)
+77.0
－
+106.20
＜FY2013/03 Q4 forex assumption ＞
Q4(Actual)
1US$
1Euro
92.28JPY
Q4
85.00JPY
121.81JPY 115.00JPY
*We have restated the previous year’s consolidated financial statements due to changing the fiscal year-ends of our subsidiaries from Jan, 2012.
April 26, 2013
(C)2013 Ricoh Company, Ltd. All Rights Reserved
3
FY2013/03 operating income y-o-y comparison
+7.0
+55.8
+4.8
-32.7
(billions of yen)
+3.5
-0.0
+81.5
Expense on FY12/03 34.1 (increase)
Expanse on FY13/03 16.6 (decrease)
Benefit
38.3 (increase)
63.4
+6.0
+37.0
-18.0
FY12/03
Operating
Income
Impairment Quake Restructuring
&Flood Charge, net
Impact
Extraordinary items
April 26, 2013
Sales
Product
Cost Down
Gross profit items
R&D
Expenses
Forex, net
FY13/03
Operating
Income
forecast
SG&A items
(C)2013 Ricoh Company, Ltd. All Rights Reserved
4
FY2013/3 results supplement
OP / OP margin
OP
margin
4.3%
3.7% 3.1% 2.9% 2.8%
1.2% 2.4%
SG&A
(billions of yen)
(billions of yen)
SG&A
ratio
47.3%
39.9%
0.0%
38.2%
37.4%
43.0%
-2.8%
37.4%
36.7%
-7.6%
33.9%
32.7%
6.2
18.9 14.2 13.1 13.0 22.9
11.3
202.6
216.3
186.2
SG&A
184.3
SG&A
(R&D excluded)
154.7
158.2
29.5
28.0
31.7
Q4
Q1
Q2
175.6
171.4
175.9
182.2
135.7
148.6
143.7
148.5
152.4
29.5
29.7
27.0
27.7
27.4
29.8
Q3
Q4
Q1
Q2
Q3
Q４
165.4
-13.3
-34.9
R&D
Q4
FY11/03
April 26, 2013
Q1
Q2
Q3
FY2012/03
Q4
Q1
Q2
Q3
FY2013/03
Q４
170.9
FY11/03
(C)2013 Ricoh Company, Ltd. All Rights Reserved
186.8
FY2012/03
FY2013/03
5
Imaging & Solutions (1)
Sales (billions of yen)
< OP&OP margin >
Y-o-Y( Excluding forex）
Imaging＆Solutions
Network System
Solutions
1,671.1
Excluding “Corporate and Eliminations”
1,685.3 +0.9%(-0.3%)
199.2
208.7
+4.8%(+4.9%)
148.5
147.0
-1.0%(-3.1%)
7.9% 7.7% 7.3% 7.9%
5.9% 6.8%
OP
margin
9.6%
2.2%
0.0%
Production Printing
-4.4%
(billions of yen)
1,323.2
+0.5%(-0.7%)
1,329.6
Office Imaging
46.0
OP
FY2012/03
FY2013/03
35.3
26.3 28.0
9.0
OP (billions of yen)
OP
Net sales %
April 26, 2013
30.7 28.8 32.2
-17.4
2012/03
2013/03
Q4
54.9
137.9
FY11/03
3.3％
8.2％
Q1
Q2
(C)2013 Ricoh Company, Ltd. All Rights Reserved
Q3
FY2012/03
Q4
Q1
Q2
Q3
Q４
FY2013/03
6
Imaging & Solutions (2)
Main products and service
< MFP / Printer / PP combined y-o-y >
(Value, excluding Forex)
＜MFP（Office Imaging）＞
Non-hardware
・Japan：Hardware sales featuring color MFPs increased
while non-hardware sales decreased.
・Overseas：A4 MFPs and color MFPs increased as well as
non-hardware.
＜LP（Office Imaging）＞
+3%
+1%
＜MDS（Office Imaging）＞
+0%
+2%
+1%
0%
Hardware
Q4
Q1
Q2
+1%
-1%
-3%
-4%
Q3
Q4
Q1
FY2012/03
FY11/03
+1%
-1%
-2%
・More than double-digit sales growth mainly in Europe
and Americas.
-5%
Q2
Q3
Q４
FY2013/03
See Appendix for more data
< Products & Services sales y-o-y >
＜Production Printing＞
(Value, excluding Forex)
・Japan： Both hardware and non-hardware of cut sheet
machines expanded.
・Overseas： Both hardware and non-hardware of color cut
sheet machines expanded.
＜Network System Solutions＞
・IT services grew double-digits mainly overseas.
・PJS and UCS grew steadily worldwide.
Black & White
MFP
-6%
Office Printer
+8%
-2%
PP(Cut Sheet type)
MDS*
Color
+2%
-2%
+21%
+14%
(*including hardware, non-hardware and labor charge)
IT services
April 26, 2013
+1% +2%
+0%
-1%
・Japan：Hardware sales decreased while non-hardware
increased.
・Overseas：Hardware and non-hardware expanded steadily
+3%
(C)2013 Ricoh Company, Ltd. All Rights Reserved
+11%
7
FY2013/03 sales by business region
Quarterly sales y-o-y (excluding Forex)
Review by business region
・Flat sales due to stagnant economy.
Japan
Japan
+6.9%
+0.1%
+0.0%
・Profit improved thanks to restructuring.
0.0%
+1.0%
The
Americas
・MFP and LP sales recovered.
・Profit improved thanks to restructuring.
-1.8%
-3.0%
-9.4%
The Americas
+3.4%
-2.1%
EMEA
AP&
China
+0.9%
-3.6%
Europe / Middle East / Africa
+2.5%+5.2%+3.7%
+0.8%
+5.6%
+3.3%
+0.9%
0.0%
+2.8%
-0.3%
+16.9%
+10.8%
+7.6%
+6.1% +1.3%
+15.3%
0.0%
-0.3%
-1.6%
+7.6%
Q4
Q1
FY11/03
April 26, 2013
+1.8%
0.0%
Other
・Weak demand in China continued.
・At the AP region excluding China low-end MFP
sales expanded steadily.
-4.9%
+4.7%
-0.2%
-3.4% -3.2%
・Growth thanks to service business inspite of the
weak economy.
・Income increased thanks to value-added
proposals and restructuring effect.
-0.2%
(C)2013 Ricoh Company, Ltd. All Rights Reserved
Q2
Q3
FY2012/03
Q4
Q1
Q2
Q3
Q４
FY2013/03
8
Industrial Products
Sales
(billions of yen)
< Industrial Products Sales y-o-y >
(excluding Forex)
Y-o-Y
(excluding Forex）
98.0
93.0
-5.1%(-6.3%)
+0.6%
0.0%
-4.9%
-7.0%
-7.9%
-7.6%
-5.0%
OP
Net sales %
FY2012/03
FY2013/03
Q4
-1.6
-0.8
FY11/03
-1.6％
-0.9％
Q1
-8.1%
-8.7%
-7.9%
Q2
Q3
Q4
Q1
FY2012/03
< OP>
Q2
Q3
Q４
FY2013/03
Excluding “Corporate and Eliminations”
0.8
0.2
- Thermal Rewritable media with RFID launched
in Japan.
- FA (factory automation) camera series launched.
0.2
-0.3
-0.4
-0.4
-0.2
-0.4
-1.6
Q4
Q1
FY11/03
RECO-view RF tag
April 26, 2013
Q2
Q3
FY2012/03
Q4
Q1
Q2
Q3
Q４
FY2013/03
FA camera
(C)2013 Ricoh Company, Ltd. All Rights Reserved
9
Other
Sales
(billions of yen)
< Other Sales y-o-y>
Y-o-Y
(ｗｉｔｈｏｕｔ forex）
134.3
+8.7%(+8.5%)
146.0
+33.9%
0.0%
OP
-4.7
+0.3%
-4.6%
FY2013/03
+22.8%
+27.2%
-8.2%
Q4
FY2012/03
(excluding Forex)
Q1
+23.3%
Q2
Q3
Q4
Q1
FY2012/03
FY11/03
-6.0%
-9.8%
Q2
Q3
Q４
FY2013/03
-5.2
< OP>
Net sales %
-3.5％
Excluding “Corporate and Eliminations”
-3.6％
- DSLR camera PENTAX K-30 launched.
- New DSLR camera PENTAX K-5 II launched.
- New Mirror-less camera PENTAX Q10 launched.
-0.3
April 26, 2013
ＰＥＮＴＡＸ Ｋ-５ ＩＩ
-1.6
-2.9
Q1
Q2
FY11/03
ＰＥＮＴＡＸ Ｋ-３０
-0.4
-1.7
-2.0
-3.3
Q4
-0.3
-0.5
Q3
FY2012/03
Q4
Q1
Q2
Q3
Q４
FY2013/03
Ｑ１０
(C)2013 Ricoh Company, Ltd. All Rights Reserved
10
Balance Sheet as of March 31, 2013
Inventories/Averaged cost of sales (month)
Assets
As of
Mar 31, 2013
Dif ｆ . from
Mar 31, '12
1,126.2
+19.7
Cash & time deposits
120.3
-38.3
Trade receivables
745.4
+58.5
Inventories
195.3
+0.3
65.0
-0.8
1,234.4
+51.6
Tangible fixed assets
290.8
+22.3
Finance receivable
466.6
-1.3
Other investments
476.9
+30.6
(billions of yen)
Current Assets
Other current assets
Fixed Assets
Total Assets
2,360.6
Inventories/Averaged
cost of sales
1.86
191.5
1.70
1.79
169.2
171.8
End of
Mar ‘10
End of
Mar ‘11
2.03
2.03
195.0
195.3
End of
Mar ‘12
End of
Mar ‘13
Inventories
(billions of yen)
End of
Mar ‘09
Total assets turn over (per month)
Total assets
turn over
0.88
2,513.4
0.82
0.84
0.84
2,383.9
2,255.5
2,289.3
End of
Mar ‘10
End of
Mar ‘11
End of
Mar ‘12
0.83
2,360.6
+71.3
Total Assets
(billions of Yen)
Exchange rate as of March 31, 2013：
US$ 1
= ¥ 94.05
EURO 1
= ¥ 120.73
April 26, 2013
( +11.86)
( +10.93)
End of
Mar ‘09
(C)2013 Ricoh Company, Ltd. All Rights Reserved
End of
Mar ‘13
11
Balance Sheet as of March 31, 2013
Equity ratio
Liabilities and Equity
As of
Mar 31, 2013
Difｆ. from
Mar 31, '12
Current Liabilities
700.3
+27.3
Trade payables
256.5
+4.3
Short-term borrowings
226.3
+9.9
Other current liabilities
217.4
+13.0
701.6
-35.6
Long-term indebtedness
476.3
-49.0
Accrued pension&severance costs
164.2
-0.4
61.0
+13.8
1,402.0
-8.3
897.9
+75.2
60.6
+4.3
958.6
+79.6
2,360.6
+71.3
(billions of yen)
Fixed Liabilities
Other fixed liabilities
Total Liabilities
Total Shareholders' Investment
Noncontrolling Interest
Total Equity
Total liabilities and Equity
Total debt
702.7
Exchange rate as of March 31, 2013：
US$ 1
= ¥ 94.05
EURO 1
= ¥ 120.73
April 26, 2013
-39.0
( +11.86)
( +10.93)
Equity
ratio
38.8%
975.3
40.8%
41.0%
973.3
925.2
35.9%
822.7
38.0%
897.9
Shareholders’
equity
(billions of yen)
End of
Mar ‘09
End of
Mar ‘10
End of
Mar ‘11
End of
Mar ‘12
End of
Mar ‘13
Net debt/equity ratio (multiplies)
Net D/E
ratio
0.53
518.6
0.45
0.49
440.6
455.3
End of
Mar ‘10
End of
Mar ‘11
0.71
0.65
583.1
582.4
End of
Mar ‘12
End of
Mar ‘13
Net debt
(billions of yen)
End of
Mar ‘09
(C)2013 Ricoh Company, Ltd. All Rights Reserved
12
FY2013/03 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
April 26, 2013
FY2012/03
FY2013/03
-40.1
37.3
91.1
[ 51.0 ]
85.9
[ 123.2 ]
-39.8
11.2
1.2
124.5
-71.7
-14.8
-84.8
-2.7
-25.8
-112.4
-18.8
-106.4
-101.2
112.3
18.0
-48.3
-23.9
-0.6
-15.2
-0.7
87.8
-2.5
-64.3
7.1
-16.0
156.2
-39.1
117.0
Free cash flow (billions of yen)
<Annual Data>
101.1
36.7
18.0
-101.2
-195.6
FY
09/03
FY
10/03
FY
11/03
FY
12/03
FY
13/03
66.0
27.8
13.2
-20.0
-15.3
-17.3
-8.8
-23.7
-77.1
Q4
FY11/03
(C)2013 Ricoh Company, Ltd. All Rights Reserved
Q1
Q2
Q3
FY2012/03
Q4
Q1
Q2
Q3
Q4
FY2013/03
13
FY2014/3 Business environment
World economy will recover slowly in the latter half of 2013.
economy
Uncertain situation in the Eurozone will continue.
Total demand for MFPs will increase thanks to demand
in emerging markets.
High interest in TCO reduction and business efficiency.
customers
Expanding use of mobile devices and cloud services.
Demand shifting from possession to use and products to services.
Intensifying competition advanced and emerging countries.
competitors
Service business expansion
Strengthening one-stop solution trend
April 26, 2013
(C)2013 Ricoh Company, Ltd. All Rights Reserved
14
FY２０１４/３ Priority measures
＜１７th MTP basic strategy＞
Simultaneous achievement of “transformation” and “growth”
＜FY2014/3 basic policy＞
Ensure activities for transformation and accelerate growth
April 26, 2013
Thoroughly reinforce the earning power
through core businesses
Create new profit models
in current core businesses
Accelerate development
for new growth businesses
Improve resource efficiency
(C)2013 Ricoh Company, Ltd. All Rights Reserved
15
FY2014/3 Forecast - Key IndexesNet sales
2,100.0 bn yen
Operating income
140.0 bn yen
Net sales %
6.7 ％
EPS
110.34 yen
ROE
8.6 %
33.0
full year dividend
Capital expenditures
(fixed assets)
R&D expenditures
Exchange rate
April 26, 2013
yen
89.0 bn yen
yoy ＋9.1％（excluding FX :+1.8％）
yoy ＋120.8%
yoy ＋3.4pt
yoy ＋146.4%
yoy ＋4.8pt
yoy ＋4.0 yen
yoy +2.4 bn yen
113.0 bn yen
yoy ＋0.9 bn yen
US$ :
95.0 yen
yoy ＋11.94 yen
Euro :
125.0 yen
Yoy ＋17.92 yen
(C)2013 Ricoh Company, Ltd. All Rights Reserved
(Net sales%: 5.4%)
16
FY2014/03 operating income y-o-y comparison
(billions of yen)
+42.4
+10.0
-0.9
+76.6
-26.1
+15.0
+31.2
+5.0
140.0
Expense on FY12/03 16.6 (increase)
Expanse on FY13/03 10.0 (decrease)
Benefit
24.6 (increase)
63.4
FY13/03
Operating
Income
Restructuring
Charge, net
Extraordinary items
Forex assumptions
(yen)
US$
Euro
April 26, 2013
BPR
Sales
Product
Cost Down
Gross profit items
FY2013/03
result
FY2014/03
forecast
y-o-y
83.06
107.08
95.00
125.00
+11.94
+17.92
R&D
Expenses
Forex, net
Operating
Income
forecast
SG&A items
Forex impacts
Impacts of forex
per yen annually
(C)2013 Ricoh Company, Ltd. All Rights Reserved
FY14/03
(billion yen)
US$
Euro
sales
OP
6.5
3.5
1.3
1.5
17
Progress of structural reform (CRGP)
Total
▲approx. 10,000 persons
（billions of yen）
66.0
▲approx. 4,000 persons
34.8
24.6
▲approx. 5,000 persons
38.3
38.3
13.1
13.1
△10.0
Merit
▲２１.０
13.1
△34.1
-Human resource optimization
-Change work style
-Integrate site
April 26, 2013
△16.6
Cost
-Human resource optimization
-BPR
-Reorganize production strategies
and review development processes
-Integrate site
-Human resource optimization
-BPR
-Reorganize production strategies
and review development processes
-Integrate site
FY2012/03
FY2013/03
FY2014/03
(Actual)
(Actual)
(Plan)
(C)2013 Ricoh Company, Ltd. All Rights Reserved
18
Dividend and ROE
33.0
33.0
33.0
33.0
33.0
29.0
28.0
24.0
full year
dividend
20.0
(yen)
17.0
15.0
25.0
16.5
16.5
16.5
8.5
15.0
16.5
12.0
year-end
dividend
mid-year
dividend
10.0
10.0
12.0
13.0
16.0
18.0
16.5
16.5
16.5
16.5
12.5
FY05/03 FY06/03 FY07/03 FY08/03 FY09/03 FY10/03 FY11/03 FY12/03 FY13/03 FY14/03
forecast
full-year
dividend
payout ratio
ROE
April 26, 2013
18%
18%
18%
23%
366%
86%
122%
loss
64%
29%
10.0%
10.6%
11.0%
9.9%
0.6%
2.9%
2.0%
-5.1%
3.8%
8.6%
(C)2013 Ricoh Company, Ltd. All Rights Reserved
19
Appendix
April 26, 2013
(C)2013 Ricoh Company, Ltd. All Rights Reserved
20
Hot new products and services
Tablet application for paperless meetings available to connect
a maximum of 350 units at same time
New
Convert to
PDF automatically
＜announced in Feb., 2013＞
Projector for wireless LAN
Wireless LAN
Register
materials to
server
PC
Server
－Easily upload meeting materials from web browser to server
－Decrease printing costs for materials and also respond to
last minute document changes
－Secure deleting of data after meetings
Mobile Visual Search Platform “Ocutag™”
＜announced in Apr.,2013＞
-Mobile apps connect users with a variety of related digital media through
simple image capture, for easy access to customized multimedia content
and other services. Ocutag is a visual search platform which can
realize this
-The Ocutag mobile visual search platform provides developers with open APIs
and online services to enable and support the integration of visual search into
mobile apps.
-The first implementation of this technology has been already achieved in India.
April 26, 2013
(C)2013 Ricoh Company, Ltd. All Rights Reserved
21
FY2013/03 new products (Imaging & Solutions - Document)
New
<Solutions>
■FlexRelease CX
Increase competitive edge in developed markets
（Cloud print）
ＨＩＧＨ
Expand solutions（Cloud/MDS etc.）
Outstanding environmental products and solutions
■Smart Device Print
（Print from tablet devices and smart phones）
Expand product lineup
Most popular category in developed markets
A3 monochrome
high-speed MFP
MP 9002 series
(60-90cpm) 3 models
Expand Solutions
A3 color LP
SP C831/830
ＭＩＤ
A3 monochrome
LP SP8300
New
Most popular category in emerging markets
A3 monochrome MFP
MP 2001/2501
Expand Solutions
color wide format printer
MP CW2200/1200
color wide format printer
Pro L4000
A3 color (GJ)
SG 7100
A2 monochrome MFP
MP W4001
A4 color MFP(GJ)
SG 3100SF
Increase competitive advantage
in emerging markets
Expand product line up meeting the needs
of emerging markets
Business Personal
April 26, 2013
Recycled MFP
（25-50cpm)
A3 color 2 models
A3 monochrome 4 models
A3 monochrome
MFP MP1601/1301
Expand product lineup
ＬＯＷ
Released between Jan 31, 2013
to Apr 26, 2013
A3 color LP
SP C731/730
Shared
A4 monochrome
MFP MP301SPF
A4 color MFP
MP C305SPF
Center
(C)2013 Ricoh Company, Ltd. All Rights Reserved
Recycled MFP
（60.75cpm)
A3 monochrome 2 models
Production
22
FY2013/03 new products (Imaging & Solutions - Document)
FY2011/03
Color
MFP
FY2012/03
FY2013/03
MP C5001
MP C4001
MP C4002 MP C5002
MP C3301
MP C2801
MP C2201
MP C2051
Mono
MFP
MP C2802
MP C3302
MP 9002
New
MP 7502
New
Major new MFP launch from
12/03 2H to 13/03 .
MP5002
MP4002
MP2352
MP C400
SP5210SF
MP C300
SP5200S
SP C241SF
SP C230SFL
SP1200SF
April 26, 2013
MP 6002
MP2501
MP2001
MP3352
MP2852
A4
MFP
New
MP1301 MP1601
MP C305SPF
MP301SPF
SP3510SF
SP100SU
SP100SF
(C)2013 Ricoh Company, Ltd. All Rights Reserved
SG 3100SF
23
FY2013/03 sales by category
By Product Category
(billions of yen)
By Area
(billions of yen)
Y-o-Y (excluding Forex)
Y-o-Y (excluding Forex)
+1.1%(0.0%)
1,903.4
1,924.4
134.3
98.0
146.0
93.0
+8.7%(+8.5%)
199.2
208.7
Industrial Products
148.5
147.0
-5.1%(-6.3%)
Other
Network System
Solutions
+4.8%(+4.9%)
1,323.2
1,329.6
1,903.4
1,924.4
126.9
135.7
421.3
421.7
1,685.3
468.7
1,017.0
496.6
1,054.1
Production Printing
-1.0%(-3.1%)
FY2013/03
Overseas
870.3
Office Imaging
+0.5%(-0.7%)
+0.9%(-0.3%)
The Americas
+5.9%(+0.9%)
+3.6%(+1.6%)
Japan
-1.8%(-1.8%)
Imaging & Solutions
FY2012/03
Other
+6.9%(+3.2%)
EMEA
+0.1%(+1.9%)
886.4
1,671.1
+1.1%(0.0%)
FY2012/03
FY2013/03
* We have restated the previous year’s consolidated financial statements due to changing
the fiscal year-ends of our subsidiaries from Jan, 2012.
April 26, 2013
(C)2013 Ricoh Company, Ltd. All Rights Reserved
24
OP by geographic segment
OP
margin
(billions of yen)
The Americas
Japan
0.4% 2.0% -6.5% -4.8% 3.3% 2.7% 1.4% 1.7% 2.7%
OP
margin
0.2% -3.8% -0.6% -18.5% 0.2% 0.8% 0.6% 1.8% 2.0%
2.2
11.0
6.2
8.5
1.2
4.2
5.1
0.2
8.9
0.2
0.9
0.6
Q1
Q2
2.9
-0.7
-14.8
～
-4.3
-21.2
-21.5
Q4
Q1
FY11/03
Q2
Q3
Q4
Q1
FY2012/03
Q2
Q3
Q4
Q4
FY11/03
FY2013/03
Europe / Middle East / Africa
OP
margin
7.7% 6.1% 5.5% 0.8% 4.5% 6.6% 5.9%
8.0
6.1% 7.3%
FY11/03
April 26, 2013
Q2
Q3
Q4
FY2012/03
Q3
Q4
FY2013/03
Other
OP
margin
3.2% 2.3% 4.4% 0.2% 3.9% 3.8% 3.7% 4.4% 4.6%
9.0
6.5
5.4
4.8
6.2
4.4
6.4
0.8
Q4
Q1
Q1
Q2
Q3
FY2012/03
Q4
Q1
Q2
Q3
FY2013/03
Q4
2.1
1.4
Q4
Q1
FY11/03
3.1
2.9
2.8
2.7
3.3
3.8
Q4
Q1
Q2
Q3
Q4
0.1
Q2
Q3
FY2012/03
(C)2013 Ricoh Company, Ltd. All Rights Reserved
FY2013/03
* Excluding “Corporate and Eliminations”
25
FY2013/03 Q4 income statement
FY2013/03
Q4 result
241.3
265.2
506.6
184.3
36.4%
165.4
32.7%
18.9
3.7%
16.6
3.3%
8.6
1.7%
11.89
229.4
307.9
537.3
205.1
38.2%
182.2
33.9%
22.9
4.3%
21.8
4.1%
15.1
1.7%
20.92
US $1
79.32
92.28
+12.96
1US$ =
85.00JPY
Euro 1
104.04
121.81
+17.77
1Euro =
115.00JPY
(billions of yen)
Net sales
(Japan)
(Overseas)
Total
Gross profit
net sales %
SG&A
net sales %
Operating income
net sales %
Income before income taxes
net sales %
Net income attribute to Ricoh Co.
net sales %
EPS (Yen)
Exchange rate
(Yen)
Y-o-Y Comparison
FY2012/03
Q4 result
Change
Change(%)
Change(%)
without Forex
-11.8
-4.9%
-4.9%
+42.6
+16.1%
+1.0%
+30.7
+6.1%
-1.8%
+20.8
+11.3%
+16.8
+10.2%
+4.0
+21.2%
Investment
(billions of yen)
FY12/03 FY13/03
Q4
Q4
R&D
29.7
29.8
5.9%
5.5%)
CAPEX
19.3
25.4
Depreciation
18.1
15.9
(% on sales
+5.2
+31.7%
(tangible fixed assets)
+6.5
+75.8%
+9.03
FY2013/03 Q4
forex assumption
*We have restated the previous year’s consolidated financial statements due to changing the fiscal year-ends of our subsidiaries from Jan, 2012.
April 26, 2013
(C)2013 Ricoh Company, Ltd. All Rights Reserved
26
FY2013/3 Q4 sales by category
By product category
（billions of yen）
By Area
Y-o-Y (excluding Forex)
Y-o-Y (excluding Forex)
+6.1%(-1.8%)
+6.1%(-1.8%)
506.6
38.0
23.1
55.9
537.3
36.3
22.8
58.0
42.2
Other
-4.5%(-6.0%)
Industrial Products
-1.1%(-7.6%)
506.6
537.3
37.7
Other
+11.9%(-1.6%)
33.7
110.0
127.4
EMEA
+15.8%(+0.9%)
37.9
Network System
Solutions
+3.8%(+1.8%)
351.5
445.3
377.8
121.5
265.2
142.7
307.9
Production Printing
April 26, 2013
Overseas
+16.1%(+1.0%)
+11.5%(-0.2%)
478.1
Office Imaging
+7.5%(-1.7%)
241.3
229.4
Japan
-4.9%(-4.9%)
Imaging & Solutions
FY2012/03
Q4
The Americas
+17.4%(+1.8%)
FY2013/03
Q4
+7.4%(-1.1%)
FY2012/03
Q4
(C)2013 Ricoh Company, Ltd. All Rights Reserved
FY2013/03
Q4
27
FY2014/03 income statement forecast
FY2014/03
Forecast
870.3
1,054.1
1,924.4
768.6
39.9%
705.1
36.6%
63.4
3.3%
58.1
3.0%
32.4
1.7%
44.78
882.5
1,217.5
2,100.0
875.0
41.7%
735.0
35.0%
140.0
6.7%
135.0
6.4%
80.0
3.8%
110.34
US $1
83.06
95.00
+11.94
Euro 1
107.08
125.00
+17.92
(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)
April 26, 2013
Y-o-Y comparison
FY2013/03
Results
Change
Change(%)
Change(%)
without Forex
+12.1
+1.4%
+1.4%
+163.4
+15.5%
+2.2%
+175.5
+9.1%
+1.8%
+106.3
+13.8%
+29.8
+4.2%
Investment
+76.5
+120.8%
(billions of yen)
R&D
+76.8
+132.4%
FY13/03 FY14/03
result forecast
112.0
113.0
5.8%
5.4%)
86.5
60.4
89.0
73.0
(% on sales
CAPEX
Depreciation
(tangible fixed assets)
+47.5
+146.8%
+65.56
(C)2013 Ricoh Company, Ltd. All Rights Reserved
28
FY2014/3 sales forecast by category
By product category
(billions of yen)
By area
Y-o-Y (excluding Forex)
+9.1%(+1.8%)
Y-o-Y (excluding Forex)
+9.1%(+1.8%)
2,100.0
1,924.4
146.0
93.0
208.7
147.0
151.0
102.0
223.5
165.3
Other
+3.4%(+1.9%)
Industrial Products
+9.6%(+2.6%)
Network System
Solutions
+7.1%(+5.1%)
Production Printing
1,329.6
1,685.3
1,458.2
1,847.0
2,100.0
1,924.4
161.9
Other
+19.3%(+6.5%)
489.3
EMEA
+16.0%(+1.6%)
135.7
421.7
496.6
1,054.1
566.3
1,217.5
+12.4%(+2.2%)
Office Imaging
+9.7%(+1.2%)
April 26, 2013
FY2014/03
+9.6%(+1.8%)
Overseas
+15.5%(+2.2%)
870.3
882.5
Japan
+1.4%(+1.4%)
Imaging & Solutions
FY2013/03
The Americas
+14.0%(+1.5%)
FY2013/03
(C)2013 Ricoh Company, Ltd. All Rights Reserved
FY2014/03
29
Appendix: historical data (1)
*Value based ratio including forex
Imaging & Solutions sales portion by products
FY2012/03
FY12/03 FY13/03
FY2013/03
FY12/03 FY13/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
1H
1H
Total
Total
MFP
59%
56%
57%
57%
58%
55%
57%
57%
57%
56%
57%
57%
Office Printer
11%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
10%
Production Printing(PP)
8%
9%
10%
9%
9%
9%
9%
9%
9%
9%
9%
9%
Office Imaging, other
6%
6%
6%
6%
6%
6%
6%
6%
7%
6%
6%
6%
MDS(Labor charge) & IT Services
9%
10%
10%
11%
10%
11%
11%
12%
9%
11%
10%
11%
Network System Solutions, other
8%
9%
8%
7%
8%
9%
8%
7%
8%
9%
8%
8%
MFP & printer Non-hardware ratio
FY2012/03
MFP
Office Printer
PP
April 26, 2013
FY12/03 FY13/03
FY2013/03
FY12/03 FY13/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
1H
1H
Total
Total
Japan
56%
61%
64%
52%
58%
61%
60%
50%
59%
59%
58%
57%
Overseas
56%
51%
54%
52%
55%
53%
55%
53%
53%
54%
53%
54%
Total
56%
55%
57%
52%
56%
56%
57%
52%
55%
56%
55%
55%
Japan
88%
88%
88%
85%
88%
87%
Overseas
73%
69%
74%
72%
71%
72%
Total
81%
79%
81%
78%
80%
80%
Japan
63%
58%
61%
55%
60%
59%
Overseas
56%
57%
60%
59%
57%
58%
Total
58%
57%
60%
58%
57%
58%
(C)2013 Ricoh Company, Ltd. All Rights Reserved
30
Appendix: historical data (2)
MFP & printer y-o-y (Office Imaging and Production Printing)
< Hardware >
FY2012/03
Q1
*By value
FY12/03 FY13/03
FY2013/03
Q2
Q3
Q4
Q1
Q2
Q3
Q4
+11% -2%
FY12/03 FY13/03
1H
1H
Total
Total
+8%
-4%
+6%
+0%
-10%
-6%
-11%
+0%
MFP&Printer
Japan
+18% -2%
-4%
+10%
-6%
-2%
(Office+PP)
Overseas
-13%
-7%
-11% -11%
+0%
-11% +0% +11%
(Forex excluded)
-8%
-1%
-5%
-6%
+7%
-7%
-4%
-3%
-5%
+0%
-5%
-2%
Total
-4%
-5%
-9%
-4%
-2%
-8%
+3%
+6%
-5%
-5%
-6%
+0%
(Forex excluded)
+0%
-2%
-4%
-1%
+2%
-5%
+1%
-3%
-1%
-2%
-2%
-1%
MFP&Printer
Japan
-5%
+4%
-2%
+0%
+2%
-2%
-2%
-7%
+0%
+0%
-1%
-2%
(Office+PP)
Overseas
-4%
-2%
-4%
-1%
-4%
-4%
+7% +19%
-3%
-4%
-3%
+5%
(Forex excluded)
+2%
+3%
+2%
+4%
+4%
+1%
+4%
+3%
+2%
+2%
+3%
+3%
Total
-4%
+1%
-3%
-1%
-2%
-3%
+3%
+8%
-2%
-2%
-2%
+2%
(Forex excluded)
-1%
+3%
+1%
+2%
+3%
+0%
+1%
-1%
+1%
+1%
+1%
+1%
< Non-hardware >
＊Total hardware and non-hardware sales of MFP, Office printer, Cut sheet PP, Continuous form PP (excluding sales of solutions and third party products）
April 26, 2013
(C)2013 Ricoh Company, Ltd. All Rights Reserved
31
Appendix: historical data (3)
MFP & printer y-o-y (Office Imaging)
< Hardware >
*By value
FY2012/03
Q1
Q2
Q3
Q4
Q1
Q2
MFP&Printer
Japan
-6%
-3%
(Office Imaging)
Overseas
-3%
(Forex excluded)
MFP
Office Printer
Q3
Q4
1H
+11% -2%
1H
FY12/03 FY13/03
Total
Total
-4%
-1%
-10% +1% +12%
-7%
+0%
+4%
-6%
-2%
-2%
-1%
-2%
Total
-4%
-8%
+4%
+6%
-6%
+0%
(Forex excluded)
+0%
-5%
+2%
-2%
-2%
-1%
+12% -1%
Japan
+18% -4%
-5%
+7%
-6%
-1%
Overseas
-14%
-6%
-14% -15%
-4%
-12% +0% +12%
(Forex excluded)
-8%
-1%
-8%
-10%
+3%
-8%
-3%
Total
-4%
-5%
-11%
-7%
-4%
-9%
(Forex excluded)
+0%
-2%
-7%
-4%
+0%
Japan
-1%
Overseas
+8% +22% +17% +10%
(Forex excluded)
Total
(Forex excluded)
April 26, 2013
FY12/03 FY13/03
FY2013/03
+7%
-4%
+5%
+0%
-10%
-8%
-12%
-1%
-2%
-5%
-3%
-7%
-3%
+4%
+7%
-5%
-7%
-7%
+0%
-6%
+2%
-2%
-1%
-3%
-3%
-2%
-16%
-2%
-19%
+16% +28% +13% -4%
+5%
+6% +10% -2%
+10% +9%
+8%
-10%
(C)2013 Ricoh Company, Ltd. All Rights Reserved
-9%
-11%
+14%
+13%
+21%
+12%
+5%
+4%
+9%
+3%
32
Appendix: historical data (4)
MFP & printer y-o-y (Office Imaging)
< Non-hardware >
*By value
FY2012/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
-7%
MFP&Printer
Japan
+2%
-3%
-2%
(Office Imaging)
Overseas
-5%
-6%
(Forex excluded)
+3%
Total
(Forex excluded)
MFP
Office Printer
April 26, 2013
FY12/03 FY13/03
FY2013/03
1H
1H
FY12/03 FY13/03
Total
Total
+0%
-2%
+7% +18%
-5%
+4%
-1%
+4%
+2%
+1%
+2%
-2%
-4%
+3%
+7%
-3%
+1%
+2%
-2%
+2%
-2%
+0%
+0%
-6%
Japan
-5%
-3%
-4%
-1%
+0%
-4%
-3%
-4%
-2%
-3%
-3%
Overseas
-4%
-3%
-7%
-4%
-5%
-5%
+7% +17%
-3%
-5%
-4%
+3%
(Forex excluded)
+1%
+2%
-1%
+2%
+2%
+0%
+4%
+1%
+1%
+1%
+1%
+2%
Total
-5%
-3%
-6%
-3%
-3%
-5%
+3%
+8%
-4%
-4%
-4%
+1%
(Forex excluded)
-2%
+0%
-2%
+0%
+1%
-2%
+1%
-2%
-1%
+0%
-1%
+0%
Japan
+9%
+1%
+1%
-8%
Overseas
-3%
(Forex excluded)
+5%
+0%
-10% +10% +22%
-6%
+5%
+6%
-5%
+6%
+7%
+1%
+4%
Total
+4%
-3%
+5%
+3%
+0%
+2%
(Forex excluded)
+8%
-1%
+3%
-3%
+3%
+2%
(C)2013 Ricoh Company, Ltd. All Rights Reserved
33
Appendix: historical data (5)
Production Printing (PP) y-o-y
*By value
< Hardware >
FY2012/03
Q1
PP
Q2
Q3
FY12/03 FY13/03
FY2013/03
Q4
Q1
Q2
Japan
-10%
+8%
Overseas
+32% -13%
(Forex excluded)
Q3
Q4
1H
1H
FY12/03 FY13/03
Total
Total
+4% +10%
-1%
+3%
-9%
+5%
+5%
+1%
+39% -10% -13%
-9%
+10%
-1%
Total
+21%
-9%
-7%
+6%
+3%
+2%
(Forex excluded)
+27%
-6%
-10%
-5%
+7%
+0%
Japan
+5%
+6%
-9%
-2%
+6%
+0%
Overseas
+5% +13% +7% +31%
+9%
+14%
+11% +18% +4% +14%
+15%
+12%
+5% +12% +3% +23%
+8%
+11%
+10% +15% +1% +10%
+13%
+9%
< Non-hardware >
PP
(Forex excluded)
Total
(Forex excluded)
＊Total hardware and non-hardware sales of Cut sheet PP, Continuous form PP (excluding sales of solutions and third party products）
April 26, 2013
(C)2013 Ricoh Company, Ltd. All Rights Reserved
34
Appendix: historical data (6)
MFP & printer color ratio
MFP
Office Printer
PP
FY2012/03
FY12/03 FY13/03
FY2013/03
FY12/03 FY13/03
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
1H
1H
Total
Total
Japan
76%
77%
78%
68%
70%
68%
74%
71%
77%
69%
74%
71%
Overseas
56%
56%
58%
53%
56%
55%
56%
56%
56%
56%
56%
56%
Total
64%
62%
64%
59%
61%
59%
62%
61%
63%
60%
62%
61%
Japan
44%
43%
45%
49%
44%
46%
Overseas
32%
32%
33%
29%
32%
31%
Total
36%
36%
37%
36%
36%
36%
Japan
6%
8%
7%
14%
7%
9%
Overseas
56%
54%
56%
53%
55%
55%
Total
47%
44%
46%
45%
45%
45%
*For hardware shipment, by value
Number of employees
Japan
Overseas
FY11/03
FY12/03
FY13/03
Q1
Q2
Q3
Q4
41,118
40,072
38,519
38,849
38,323
37,793
37,401
Americas
35,000
34,139
33,262
32,900
32,461
32,025
31,475
EMEA
17,239
17,350
17,637
17,449
18,170
18,290
18,229
China
10,143
11,808
11,960
11,798
12,056
11,883
12,094
5,025
5,645
7,864
7,984
8,072
8,151
8,232
67,407
68,942
70,723
70,131
70,759
70,349
70,030
108,525
109,014
109,242
108,980
109,082
108,142
107,431
AsiaPacific
Sub total
Total
FY09/03
*As of end of each period
April 26, 2013
(C)2013 Ricoh Company, Ltd. All Rights Reserved
35