(Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.)
(Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): __ )
(Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): __ )
(Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934.)
(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-__ )
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Ricoh Company, Ltd.
(Registrant)
By: /S/ Zenji Miura
------------------------------
Zenji Miura
Deputy President and
Chief Financial Officer
January 31, 2013
|
RICOH January 31, 2013
QUARTERLY REPORT
Nine months ended December 31, 2012
Results for the Period from April 1, 2012 to December 31, 2012
Three months ended December 31, 2012
Results for the Period from October 1, 2012 to December 31, 2012
PERFORMANCE OUTLINE (CONSOLIDATED)
(1) Third Quarter ended December 31, 2011, 2012 and Year ending March 31, 2013
(Forecast)
(Billions of yen)
-------------------------------------------------------------------------------------------------------- ---------------------
Third Quarter ended Third Quarter ended Year ending
December 31, 2011 December 31, 2012 March 31, 2013
Results Results Change Forecast Change
-------------------------------------------------------------------------------------------------------- ---------------------
Domestic sales 645.1 640.9 -0.7% 883.0 -0.4%
Overseas sales 751.7 746.1 -0.7% 1,037.0 2.0%
Net sales 1,396.8 1,387.0 -0.7% 1,920.0 0.9%
Gross profit 568.2 563.4 -0.9% 765.0 1.6%
Operating income (loss) -37.0 40.4 -- 75.0 --
Income (loss) before income taxes -48.5 36.2 -- 67.5 --
Net income (loss) attributable to Ricoh Company, Ltd. -53.1 17.3 -- 36.0 --
-------------------------------------------------------------------------------------------------------- ---------------------
Exchange rate (Yen/US$) 79.00 80.05 1.05 81.29 2.21
Exchange rate (Yen/EURO) 110.71 102.26 -8.45 105.44 -3.61
-------------------------------------------------------------------------------------------------------- ---------------------
Net income (loss) attributable to Ricoh Company, Ltd.
shareholders per share-basic (yen) -73.31 23.86 97.17 49.65 111.07
Net income (loss) attributable to Ricoh Company, Ltd.
shareholders per share-diluted (yen) -73.31 -- -- -- --
-------------------------------------------------------------------------------------------------------- ---------------------
Cash flows from operating activities -25.6 28.3 53.9 -- --
Cash flows from investing activities -88.8 -76.2 12.6 -- --
Cash flows from financing activities 102.6 25.4 -77.2 -- --
Cash and cash equivalents at end of period 151.8 134.4 -17.4 -- --
-------------------------------------------------------------------------------------------------------- ---------------------
Capital expenditures 53.9 61.1 7.1 79.0 5.7
Depreciation for tangible fixed assets 46.8 44.5 -2.2 60.0 -4.9
R&D expenditures 89.3 82.1 -7.1 113.0 -6.0
-------------------------------------------------------------------------------------------------------- ---------------------
March 31, 2012 December 31, 2012 Change
--------------------------------------------------------------------------------------------------------
Total assets 2,289.3 2,343.0 53.7
Ricoh Company, Ltd. shareholders' equity 822.7 845.6 22.9
Interest-bearing debt 741.8 789.1 47.2
--------------------------------------------------------------------------------------------------------
Ricoh Company, Ltd. shareholders' equity ratio (%) 35.9 36.1 0.2
--------------------------------------------------------------------------------------------------------
Ricoh Company, Ltd. shareholders' equity per share (yen) 1,134.64 1,166.31 31.67
--------------------------------------------------------------------------------------------------------
|
(2) Three months ended December 31, 2011 and 2012
----------------------------------------------------------------------------------------------
Three months ended Three months ended
December 31, 2011 December 31, 2012
Results Results Change
----------------------------------------------------------------------------------------------
Domestic sales 210.5 210.1 -0.2%
Overseas sales 247.1 259.4 5.0%
Net sales 457.7 469.6 2.6%
Gross profit 181.4 188.9 4.2%
Operating income (loss) -34.9 13.0 --
Income (loss) before income taxes -38.8 11.7 --
Net income (loss) attributable to Ricoh Company,
Ltd. -44.3 5.5 --
---------------------------------------------------------------------------------------------
Exchange rate (Yen/US$) 77.39 81.27 3.88
Exchange rate (Yen/EURO) 104.29 105.43 1.14
---------------------------------------------------------------------------------------------
Net income (loss) attributable to Ricoh Company,
Ltd. shareholders per share-basic (yen) -61.19 7.71 68.90
Net income (loss) attributable to Ricoh Company,
Ltd. shareholders per share-diluted (yen) -61.19 -- --
---------------------------------------------------------------------------------------------
Capital expenditures 17.0 19.7 2.6
Depreciation for tangible fixed assets 15.9 13.9 -2.0
R&D expenditures 29.5 27.4 -2.1
---------------------------------------------------------------------------------------------
|
RICOH COMPANY, LTD.
* The Company bases the forecast estimates for the fiscal year ending
March 31, 2013 above upon information currently available to management,
which involves risks and uncertainties that could cause actual results to
differ materially from those projected.
* During the previous fiscal year, Ricoh has accounted for subsidiaries that
changed their fiscal year-ends from December 31 to March 31 as if their
fiscal year-ends in prior years were March 31 and has restated consolidated
financial statements for the third quarter of fiscal year 2011.
1
RICOH COMPANY, LTD. AND CONSOLIDATED SUBSIDIARIES
FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER ENDED DECEMBER 31, 2012 (U.S. GAAP
FINANCIAL INFORMATION)
1. RESULTS FOR THE PERIOD FROM APRIL 1, 2012 TO DECEMBER 31, 2012
(1) Operating Results
(Millions of yen)
----------------------------------------------------------------------------------------
Third Quarter ended Third Quarter ended
December 31, 2011 December 31, 2012
----------------------------------------------------------------------------------------
Net sales 1,396,867 1,387,099
(% change from the previous corresponding
period) -5.3 -0.7
Operating income (loss) -37,008 40,483
(% change from the previous corresponding
period) -- --
Income (loss) before income taxes -48,569 36,274
(% change from the previous corresponding
period) -- --
Net income (loss) attributable to Ricoh
Company, Ltd. -53,185 17,302
(% change from the previous corresponding
period) -- --
Net income (loss) attributable to Ricoh
Company, Ltd. shareholders per share-basic
(yen) -73.31 23.86
Net income (loss) attributable to Ricoh
Company, Ltd. shareholders per share-diluted
(yen) -73.31 --
----------------------------------------------------------------------------------------
|
Notes:
i. Comprehensive income: Yen 41,526 million (- %) (Yen -99,140 million (- %)
in income in previous fiscal year)
ii. During the previous fiscal year, Ricoh has accounted for subsidiaries that
changed their fiscal year-ends from December 31 to March 31 as if their
fiscal year-ends in prior years were March 31 and has restated prior-year
consolidated financial statements for the third quarter of fiscal year 2011.
(2) Financial Position
(Millions of yen)
---------------------------------------------------------------------------------------
March 31, 2012 December 31, 2012
---------------------------------------------------------------------------------------
Total assets 2,289,358 2,343,072
Total equity 879,018 904,600
Ricoh Company, Ltd. shareholders' equity 822,704 845,632
Ricoh Company, Ltd. shareholders' equity ratio (%) 35.9 36.1
---------------------------------------------------------------------------------------
|
2. DIVIDEND INFORMATION
--------------------------------------------------------------------------------------
Year ended Year ending
March 31, 2012 March 31, 2013
(Results) (Forecast)
--------------------------------------------------------------------------------------
Cash dividends, applicable to the year (yen) 25.00 29.00
Interim (yen) 16.50 12.50
Year-end (yen) 8.50 16.50
--------------------------------------------------------------------------------------
|
Notes: Revision of expected dividends during this period: No
3. FORECAST OF OPERATING RESULTS FROM APRIL 1, 2012 TO MARCH 31, 2013
(Millions of yen)
--------------------------------------------------------------------------------------
Year ending
March 31, 2013
--------------------------------------------------------------------------------------
Net sales 1,920,000
Operating income 75,000
Income before income taxes 67,500
Net income attributable to Ricoh Company, Ltd. 36,000
Net income attributable to Ricoh Company, Ltd. shareholders per
share (yen) 49.65
--------------------------------------------------------------------------------------
|
Notes: Revision of forecast of consolidated operating results during this
period: Yes
4. OTHERS
(1) Changes in significant subsidiaries: No
(2) Adoption of concise quarterly accounting method or procedure: No
(3) Changes in accounting method: Yes
* For details see "4.Others" on page 5.
(4) Number of common stock outstanding (including treasury stock):
As of December 31, 2012 744,912,078 shares As of March 31, 2012 744,912,078 shares
|
(5) Number of treasury stock:
As of December 31, 2012 19,860,338 shares As of March 31, 2012 19,831,060 shares
|
(6) Average number of common stock:
As of December 31, 2012 725,069,001 shares As of December 31, 2011 725,500,788 shares
|
2
CONSOLIDATED PERFORMANCE
1. OPERATING RESULTS
*Overview
Consolidated net sales of Ricoh Group for the third quarter of fiscal year 2012
(the nine months period from April 1, 2012 to December 31, 2012) decreased by
0.7% as compared to the previous corresponding period, to Yen 1,387.0 billion.
During this period, the average yen exchange rates were Yen 80.05 against the
U.S. dollar (down Yen 1.05) and Yen 102.26 against the Euro (up Yen 8.45). Net
sales would have increased by 0.7% excluding impact of such foreign currency
exchange fluctuation.
The Japanese economy has shown signs of gradual recovery with the increase in
demand relating to the recovery and restoration of the areas affected by the
Great East Japan Earthquake. However, with the continued strength of the Yen
against the U.S. dollar and the Euro along with the continued worry of a global
slowdown, the economic environment remained fairly stagnant for most of the
third quarter. The higher expectations arising from the economic recovery plans
introduced by the LDP has helped to weaken the Yen and increase the stock
prices during the end of the third quarter, but the overall economic outlook
still remains unpredictable. Under such conditions, domestic sales in the
Imaging & Solutions segment and the Industrial Products segment decreased from
the previous corresponding period. The Other segment increased compared to the
previous corresponding period due to the additional sales contribution from
Pentax Ricoh Imaging Co., Ltd. Overall, domestic sales decreased by 0.7%
compared to the previous corresponding period.
Outside of the domestic market, the U.S. economy is showing signs of a modest
recovery but the European economy remains stagnant under the prolonged
Euro-debt crisis along with the economic slowdown in China and the rest of the
emerging markets. These economic conditions together with the strong Yen have
affected the overseas sales of Ricoh.
As for overseas sales by region, sales in the Americas increased by 1.9%
compared to the previous corresponding period (an increase of 0.6% excluding
foreign currency exchange fluctuation), sales in Europe, Middle East and Africa
decreased by 5.5% due to the continued economic uncertainties in the region
along with the strong Yen against the Euro (an increase of 2.3% excluding
foreign currency exchange fluctuation). Sales in Other region, which includes
China, South East Asia and Oceania, increased by 5.1% (an increase of 5.0%,
excluding foreign currency exchange fluctuation).
As a result, sales in the overseas market decreased by 0.7% compared to the
previous corresponding period. Excluding effects of foreign currency
fluctuations, net sales in overseas would have increased by 1.8% compared to
the previous corresponding period.
Although continued cost reduction activities have helped to reduce overall cost
of the company, gross profit decreased by 0.9% as compared to the previous
corresponding period, to Yen 563.4 billion due to the decrease in sales and the
strong Yen.
The group-wide activities to streamline costs have contributed significantly in
reducing selling, general and administrative expenses. The costs related to
these activities have decreased in total for the first three quarters of 2012,
compared to the previous corresponding period. Furthermore, due to the
impairment of long-lived assets and goodwill during the previous third quarter,
the selling, general and administrative expenses decreased by 13.6% as compared
to the previous corresponding period to Yen 522.9 billion.
As a result, operating income increased to Yen 40.4 billion (operating loss was
Yen 37.0 billion for the previous corresponding period).
Other (income) and expenses have improved this quarter compared to the previous
corresponding period due to reduced losses from securities revaluation and the
decrease in foreign exchange loss. As a result, income before income taxes
increased as compared to the previous corresponding period; to Yen 36.2 billion
(loss before income taxes was Yen 48.5 billion for the previous corresponding
period).
Consequently, net income attributable to Ricoh Company, Ltd. increased by Yen
70.4 billion as compared to the previous corresponding period; to Yen 17.3
billion (net loss was Yen 53.1 billion for the previous corresponding period).
Comprehensive income increased due primarily by the increase in net income and
the increase of cumulative translation adjustments.
3
*Conditions by Product Line
Conditions by Product Line for nine months ended December 31, 2012 are as
follows;
Imaging & Solutions (Sales down 1.5% to Yen 1,207.2 billion)
Office Imaging (Sales down 2.1% to Yen 951.7 billion)
Sales in this category decreased by 2.1% as compared to the previous
corresponding period, to Yen 951.7 billion. The sales would have decreased
by 0.4% excluding the effects of foreign currency fluctuations.
While sales of monochome printers increased, the sales of color and
monochome PPCs and MFPs decreased as compared to the previous corresponding
period.
Production Printing (Sales down 5.3% to Yen 104.7 billion)
Despite the increase in the sales of cut sheet products, sales in this
category decreased by 5.3% as compared to the previous corresponding period,
to Yen 104.7 billion due to the decrease in the sales of solution services
in the overseas market.
Network System Solutions (Sales up 5.1% to Yen 150.7 billion)
Sales in this category increased by 5.1% as compared to the previous
corresponding period, to Yen 150.7 billion due primarily to the increase in
overseas sales of IT services.
As a result, sales in the Imaging & Solutions segment decreased by 1.5% as
compared to the previous corresponding period, to Yen 1,207.2 billion.
Impairment of long-lived assets and goodwill during the previous third quarter
along with the decrease in restructuring costs that contributed to the decrease
in selling, general and administrative expenses in the current third quarter
have both contributed to a significant improvement of our operating income
compared to the previous corresponding period, to Yen 91.8 billion.
Industrial Products (Sales down 6.3% to Yen 70.2 billion)
Sales in the Industrial Products segment decreased by 6.3%, as compared to the
previous corresponding period, to Yen 70.2 billion. Sales of thermal media
products increased from the previous corresponding period but the sales of
semiconductor devices and electronic components decreased as compared to the
previous corresponding period. The group-wide activities to streamline costs
has contributed to the decrease in selling, general and administrative
expenses, which also helped to reduce operating loss for this segment to a
total of Yen 0.4 billion (operating loss was Yen 2.5 billion for the previous
corresponding period).
Other (Sales up 13.9% to Yen 109.6 billion)
Net sales in the Other segment increased by 13.9% as compared to the previous
corresponding period, to Yen 109.6 billion due to contribution in sales from
Pentax Ricoh Imaging Co., Ltd. As a result operating loss in the Other segment
amounted to Yen 2.3 billion (operating loss was Yen 3.0 billion for the
previous corresponding period).
2. FINANCIAL POSITION
*Assets, Liabilities and Equity
For Assets, cash and time deposits decreased compared to the previous
corresponding period. Furthermore, foreign currency translation amount
increased due to the depreciation of the Yen near the end of the fiscal
quarter. As a result, total assets increased by Yen 53.7 billion, to Yen
2,343.0 billion.
For Liabilities, trade payables decreased in the domestic market and
interest-bearing debt increased compared to the previous corresponding period.
As a result, total liabilities increased by Yen 28.1 billion, to Yen 1,438.4
billion.
For Total Equity, the accumulated other comprehensive loss decreased due
primarily to the fluctuation of cumulative translation adjustments reflecting
exchange fluctuation from the end of the previous period. As a result, Total
Equity increased by Yen 25.5 billion from the end of the previous fiscal year,
to Yen 904.6 billion.
*Cash Flows (Nine months from April 1, 2012 to December 31, 2012)
Due to increases current net income before tax, net cash provided by operating
activities in this period increased by Yen 53.9 billion as compared to the
previous corresponding period, to Yen 28.3 billion.
Net cash used in investing activities increased this quarter due to
expenditures for PP&E. However, due to purchase of business in the previous
corresponding period, net cash used in investing activities decreased by Yen
12.6 billion, as compared to the previous corresponding period, to Yen 76.2
billion.
Free cash outflows generated by operating and investing activities decreased by
Yen 66.5 billion, compared to the previous corresponding period, resulting in a
negative free cash flow of Yen 47.9 billion.
Net cash provided by financing activities in this period amounted to Yen 25.4
billion, due primarily to the increase in interest-bearing debt.
As a result, cash and cash equivalents as of December 31, 2012 decreased by Yen
21.8 billion as compared to the end of the previous fiscal year, to Yen 134.4
billion.
4
3. FORECAST FOR THE ENTIRE FISCAL YEAR
Based upon the changes in the business environment (i.e. exchange rate
fluctuation) along with the third quarter business results, Ricoh will revise
its forecast upwards for sales, gross profit, operating income, income before
income taxes and net income attributable to Ricoh Company, Ltd from those
previously announced in October.
Furthermore, in order to more accurately reflect the recent fluctuation in the
exchange rate, Ricoh assumes exchange rates of Yen 85.00 against the U.S.
dollar and of Yen 115.00 against the Euro in the fourth quarter.
Our performance forecast for fiscal year 2012 is as follows:
Exchange Rate Assumptions for the full year ending March 31, 2013
US$ 1 = Yen 81.29 (Yen 79.08 in previous fiscal year)
EURO 1 = Yen 105.44 (Yen 109.05 in previous fiscal year)
(Billions of yen)
--------------------------------------------------------------------------------------------
Year ended Year ending
March 31, 2012 March 31, 2013
(Results) (Forecast) Change
--------------------------------------------------------------------------------------------
Domestic sales 886.4 883.0 -0.4%
Overseas sales 1,017.0 1,037.0 2.0%
Net sales 1,903.4 1,920.0 0.9%
Gross profit 752.6 765.0 1.6%
Operating income (loss) -18.0 75.0 --
Income (loss) before income taxes -31.9 67.5 --
Net income (loss) attributable to Ricoh Company, Ltd. -44.5 36.0 --
--------------------------------------------------------------------------------------------
|
* Ricoh bases the forecast estimates for the year ending March 31, 2013 above
upon information currently available to management, which involves risks
and uncertainties that could cause actual results to differ materially from
those projected.
4. OTHERS
(1) Changes in significant subsidiaries:
Not applicable
(2) Adoption of concise quarterly accounting method or procedure:
Not applicable
(3) Changes in accounting method:
Ricoh adopted Accounting Standards Codification/TM/ 220 as from April 1 2012,
which was revised based on Accounting Standards Update (ASU) 2011-05 and
2011-12. ASU 2011-05 requires an entity to present net income and other
comprehensive income either in a single continuous statement or in two
separate, but consecutive, statements. This ASU also requires separate
presentation in both net income and other comprehensive income of
reclassification adjustments for items that are reclassified from other
comprehensive income to net income. ASU 2011-12 defers the effective date for
only the presentation requirements related to reclassifications in ASU 2011-05.
Ricoh has presented this requirement in two separate, but consecutive
statements. Management believes this adoption has not made a material effect on
Ricoh's consolidated financial statements.
The Company and its most of subsidiaries in Japan changed depreciation method
of property, plant and equipment from declining-balance method to straight-line
method for the period beginning after April 1, 2012. Management believes that
straight-line method is appropriate in line with future use of property, plant
and equipment.
The effect generated from this change will be accounted for the periods onward
because the change in depreciation method is applicable to the change in
accounting estimate.
Management believes this change has not made a material effect on Ricoh's
consolidated financial statements.
During the previous fiscal year, Ricoh has accounted for subsidiaries that
changed their fiscal year-ends from December 31 to March 31 as if their fiscal
year-ends in prior years were March 31 and has restated prior-year consolidated
financial statements for the third quarter of fiscal year 2011.
5
5. CONSOLIDATED FINANCIAL STATEMENTS
(1) CONSOLIDATED BALANCE SHEETS
Assets (Millions of yen)
-------------------------------------------------------------------------------------------------------
March 31, 2012 December 31, 2012 Change
-------------------------------------------------------------------------------------------------------
Current Assets
Cash and time deposits 158,671 138,425 -20,246
Trade receivables 686,930 709,822 22,892
Inventories 195,009 212,155 17,146
Other current assets 65,896 63,003 -2,893
Total Current Assets 1,106,506 1,123,405 16,899
Fixed Assets
Tangible fixed assets 268,527 281,630 13,103
Finance receivables 468,004 482,717 14,713
Other investments 446,321 455,320 8,999
Total Fixed Assets 1,182,852 1,219,667 36,815
-------------------------------------------------------------------------------------------------------
Total Assets 2,289,358 2,343,072 53,714
-------------------------------------------------------------------------------------------------------
Note:
Contents of cash and time deposits; March 31, 2012 December 31, 2012
Cash and cash equivalents 156,210 134,408
Time deposits 2,461 4,017
Liabilities and Equity (Millions of yen)
-------------------------------------------------------------------------------------------------------
March 31, 2012 December 31, 2012 Change
-------------------------------------------------------------------------------------------------------
Current Liabilities
Trade payables 252,209 235,568 -16,641
Short-term borrowings 216,432 224,116 7,684
Other current liabilities 204,383 196,729 -7,654
Total Current Liabilities 673,024 656,413 -16,611
Fixed Liabilities
Long-term indebtedness 525,435 565,020 39,585
Accrued pension and severance costs 164,757 163,354 -1,403
Other fixed liabilities 47,124 53,685 6,561
Total Fixed Liabilities 737,316 782,059 44,743
-------------------------------------------------------------------------------------------------------
Total Liabilities 1,410,340 1,438,472 28,132
-------------------------------------------------------------------------------------------------------
Equity
Common stock 135,364 135,364 --
Additional paid-in capital 186,083 186,083 --
Retained earnings 742,549 744,618 2,069
Accumulated other comprehensive loss -204,175 -183,302 20,873
Treasury stock -37,117 -37,131 -14
Total Ricoh Company, Ltd.
shareholders' equity 822,704 845,632 22,928
Noncontrolling interests 56,314 58,968 2,654
-------------------------------------------------------------------------------------------------------
Total Equity 879,018 904,600 25,582
-------------------------------------------------------------------------------------------------------
Total Liabilities and Equity 2,289,358 2,343,072 53,714
-------------------------------------------------------------------------------------------------------
Note:
Accumulated other comprehensive loss; March 31, 2012 December 31, 2012 Change
Net unrealized holding gains on
available-for-sale securities 3,681 3,234 -447
Pension liability adjustments -67,578 -68,339 -761
Net unrealized losses on derivative
instruments -1,153 -1,268 -115
Cumulative translation adjustments -139,125 -116,929 22,196
Reference: Exchange rate March 31, 2012 December 31, 2012
US$ 1 Yen 82.19 Yen 86.58
EURO 1 Yen 109.80 Yen 114.71
|
6
(2) CONSOLIDATED STATEMENTS OF INCOME AND CONSOLIDATED STATEMENT OF
COMPREHENSIVE INCOME
CONSOLIDATED STATEMENTS OF INCOME
Third Quarter ended December 31, 2011 and 2012 (Millions of yen)
------------------------------------------------------------------------------------------------------------------------------
Third Quarter ended Third Quarter ended
December 31, 2011 December 31, 2012 Change %
------------------------------------------------------------------------------------------------------------------------------
Net sales 1,396,867 1,387,099 -9,768 -0.7
Cost of sales 828,609 823,697 -4,912 -0.6
Percentage of net sales (%) 59.3 59.4
Gross Profit 568,258 563,402 -4,856 -0.9
Percentage of net sales (%) 40.7 40.6
Selling, general and administrative expenses 605,266 522,919 -82,347 -13.6
Percentage of net sales (%) 43.3 37.7
Operating income (loss) -37,008 40,483 77,491 --
Percentage of net sales (%) -2.6 2.9
Other (income) expenses
Interest and dividend income 2,017 1,916 -101 -5.0
Percentage of net sales (%) 0.1 0.1
Interest expense 4,971 5,047 76 1.5
Percentage of net sales (%) 0.4 0.4
Other, net 8,607 1,078 -7,529 -87.5
Percentage of net sales (%) 0.6 0.0
Income (Loss) before income taxes, equity income and noncontrolling
interests -48,569 36,274 84,843 --
Percentage of net sales (%) -3.5 2.6
Provision for income taxes 1,263 15,510 14,247 --
Percentage of net sales (%) 0.1 1.1
Equity in earnings of affiliates 17 47 30 176.5
Percentage of net sales (%) 0.0 0.0
Consolidated net income (loss) -49,815 20,811 70,626 --
Percentage of net sales (%) -3.6 1.5
Net income (loss) attributable to noncontrolling interests 3,370 3,509 139 4.1
Percentage of net sales (%) 0.2 0.3
Net income (loss) attributable to Ricoh Company, Ltd. -53,185 17,302 70,487 --
Percentage of net sales (%) -3.8 1.2
------------------------------------------------------------------------------------------------------------------------------
Reference : Exchange rate December 31, 2011 December 31, 2012
US$ 1 Yen 79.00 Yen 80.05
EURO 1 Yen 110.71 Yen 102.26
|
Three months ended December 31, 2011 and 2012 (Millions of yen)
----------------------------------------------------------------------------------------------------------------------------
Three months ended Three months ended
December 31, 2011 December 31, 2012 Change %
----------------------------------------------------------------------------------------------------------------------------
Net sales 457,785 469,632 11,847 2.6
Cost of sales 276,379 280,636 4,257 1.5
Percentage of net sales (%) 60.4 59.8
Gross Profit 181,406 188,996 7,590 4.2
Percentage of net sales (%) 39.6 40.2
Selling, general and administrative expenses 216,381 175,901 -40,480 -18.7
Percentage of net sales (%) 47.2 37.4
Operating income (loss) -34,975 13,095 48,070 --
Percentage of net sales (%) -7.6 2.8
Other (income) expenses
Interest and dividend income 514 380 -134 -26.1
Percentage of net sales (%) 0.1 0.1
Interest expense 1,541 1,492 -49 -3.2
Percentage of net sales (%) 0.4 0.3
Other, net 2,843 199 -2,644 -93.0
Percentage of net sales (%) 0.6 0.1
Income (Loss) before income taxes, equity income and noncontrolling
interests -38,845 11,784 50,629 --
Percentage of net sales (%) -8.5 2.5
Provision for income taxes 4,346 5,109 763 17.6
Percentage of net sales (%) 0.9 1.1
Equity in earnings of affiliates 18 -10 -28 --
Percentage of net sales (%) 0.0 -0.0
Consolidated net income (loss) -43,173 6,665 49,838 --
Percentage of net sales (%) -9.4 1.4
Net income (loss) attributable to noncontrolling interests 1,220 1,076 -144 -11.8
Percentage of net sales (%) 0.3 0.2
Net income (loss) attributable to Ricoh Company, Ltd. -44,393 5,589 49,982 --
Percentage of net sales (%) -9.7 1.2
----------------------------------------------------------------------------------------------------------------------------
Reference : Exchange rate December 31, 2011 December 31, 2012
US$ 1 Yen 77.39 Yen 81.27
EURO 1 Yen 104.29 Yen 105.43
|
7
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Third Quarter ended December 31, 2011 and 2012 (Millions of yen)
------------------------------------------------------------------------------------------------------------------
Third Quarter ended Third Quarter ended
December 31, 2011 December 31, 2012 Change
------------------------------------------------------------------------------------------------------------------
Consolidated net income (loss) -49,815 20,811 70,626
Other comprehensive income (loss), net of tax
Net unrealized holding losses on
available-for-sale securities -1,265 -449 816
Pension liability adjustments -1,589 -747 842
Net unrealized losses on derivative
instruments -283 -117 166
Foreign currency translation adjustments -46,188 22,028 68,216
-49,325 20,715 70,040
Comprehensive gain (loss) -99,140 41,526 140,666
Comprehensive income attributable to
noncontrolling interests 3,209 3,351 142
Comprehensive gain (loss) attributable to
Ricoh Company, Ltd. -102,349 38,175 140,524
------------------------------------------------------------------------------------------------------------------
Reference: Exchange rate December 31, 2011 December 31, 2012
US$ 1 Yen 79.00 Yen 80.05
EURO 1 Yen 110.71 Yen 102.26
|
Three months ended December 31, 2011 and 2012 (Millions of yen)
------------------------------------------------------------------------------------------------------------------
Three months ended Three months ended
December 31, 2011 December 31, 2012 Change
------------------------------------------------------------------------------------------------------------------
Consolidated net income (loss) -43,173 6,665 49,838
Other comprehensive income (loss), net of tax
Net unrealized holding gains on
available-for-sale securities 1,170 1,040 -130
Pension liability adjustments -1,033 -4,195 -3,162
Net unrealized gains (losses) on derivative
instruments -256 175 431
Foreign currency translation adjustments -1,234 50,876 52,110
-1,353 47,896 49,249
Comprehensive gain (loss) -44,526 54,561 99,087
Comprehensive income attributable to
noncontrolling interests 1,203 1,204 1
Comprehensive gain (loss) attributable to
Ricoh Company, Ltd. -45,729 53,357 99,086
------------------------------------------------------------------------------------------------------------------
Reference: Exchange rate December 31, 2011 December 31, 2012
US$ 1 Yen 77.39 Yen 81.27
EURO 1 Yen 104.29 Yen 105.43
|
8
CONSOLIDATED SALES BY PRODUCT CATEGORY
Third Quarter ended December 31, 2011 and 2012 (Millions of yen)
------------------------------------------------------------------------------------------------------------------
Third Quarter ended Third Quarter ended
December 31, 2011 December 31, 2012 Change %
------------------------------------------------------------------------------------------------------------------
[Imaging & Solutions]
Office Imaging 971,707 951,753 -19,954 -2.1
Percentage of net sales (%) 69.6 68.6
Production Printing 110,642 104,774 -5,868 -5.3
Percentage of net sales (%) 7.9 7.6
Network System Solutions 143,367 150,714 7,347 5.1
Percentage of net sales (%) 10.3 10.9
Imaging & Solutions Total 1,225,716 1,207,241 -18,475 -1.5
Percentage of net sales (%) 87.8 87.1
------------------------------------------------------------------------------------------------------------------
[Industrial Products]
Industrial Products 74,903 70,201 -4,702 -6.3
Percentage of net sales (%) 5.4 5.1
------------------------------------------------------------------------------------------------------------------
[Other]
Other 96,248 109,657 13,409 13.9
Percentage of net sales (%) 6.8 7.8
------------------------------------------------------------------------------------------------------------------
Grand Total 1,396,867 1,387,099 -9,768 -0.7
Percentage of net sales (%) 100.0 100.0
------------------------------------------------------------------------------------------------------------------
Reference : Exchange rate December 31, 2011 December 31, 2012
US$ 1 Yen 79.00 Yen 80.05
EURO 1 Yen 110.71 Yen 102.26
|
Three months ended December 31, 2011 and 2012 (Millions of yen)
------------------------------------------------------------------------------------------------------------------
Three months ended Three months ended
December 31, 2011 December 31, 2012 Change %
------------------------------------------------------------------------------------------------------------------
[Imaging & Solutions]
Office Imaging 313,222 325,473 12,251 3.9
Percentage of net sales (%) 68.4 69.3
Production Printing 37,873 35,339 -2,534 -6.7
Percentage of net sales (%) 8.3 7.5
Network System Solutions 45,312 48,792 3,480 7.7
Percentage of net sales (%) 9.9 10.4
Imaging & Solutions Total 396,407 409,604 13,197 3.3
Percentage of net sales (%) 86.6 87.2
------------------------------------------------------------------------------------------------------------------
[Industrial Products]
Industrial Products 24,314 22,764 -1,550 -6.4
Percentage of net sales (%) 5.3 4.8
------------------------------------------------------------------------------------------------------------------
[Other]
Other 37,064 37,264 200 0.5
Percentage of net sales (%) 8.1 8.0
------------------------------------------------------------------------------------------------------------------
Grand Total 457,785 469,632 11,847 2.6
Percentage of net sales (%) 100.0 100.0
------------------------------------------------------------------------------------------------------------------
Reference : Exchange rate December 31, 2011 December 31, 2012
US$ 1 Yen 77.39 Yen 81.27
EURO 1 Yen 104.29 Yen 105.43
|
*Each category includes the following product line:
Office Imaging MFPs (multifunctional printers), copiers, laser printers, digital
duplicators, facsimile, scanners, related parts & supplies,
services, support and software
Production Printing Cut sheet printer, continuous feed printer, related parts &
supplies, services, support and software
Network System Solutions Personal computers, servers, network equipment, related
services, support and software
Industrial Products Thermal media, optical equipment, semiconductor devices and
electronic components
Other Digital cameras
|
*Product Category and product lines included in Product Category was changed in
this fiscal year.
Product Category in Imaging & Solutions was reclassified as Office Imaging,
Production Printing and Network System Solutions in this fiscal year (Imaging
Solutions and Network System Solutions as previous category).
Certain products were reclassified into Network System Solutions and Industrial
Products from Other in this fiscal year.
The above reclassification was made to the prior year's figures.
9
CONSOLIDATED SALES BY GEOGRAPHIC AREA
Third Quarter ended December 31, 2011 and 2012 (Millions of yen)
---------------------------------------------------------------------------------------------------------------
Third Quarter ended Third Quarter ended
December 31, 2011 December 31, 2012 Change %
---------------------------------------------------------------------------------------------------------------
[Domestic] 645,108 640,902 -4,206 -0.7
Percentage of net sales (%) 46.2 46.2
[Overseas] 751,759 746,197 -5,562 -0.7
Percentage of net sales (%) 53.8 53.8
The Americas 347,156 353,827 6,671 1.9
Percentage of net sales (%) 24.9 25.5
Europe, Middle East and Africa 311,360 294,340 -17,020 -5.5
Percentage of net sales (%) 22.3 21.2
Other 93,243 98,030 4,787 5.1
Percentage of net sales (%) 6.6 7.1
Grand Total 1,396,867 1,387,099 -9,768 -0.7
Percentage of net sales (%) 100.0 100.0
---------------------------------------------------------------------------------------------------------------
Reference: Exchange rate December 31, 2011 December 31, 2012
US$ 1 Yen 79.00 Yen 80.05
EURO 1 Yen 110.71 Yen 102.26
|
Three months ended December 31, 2011 and 2012 (Millions of yen)
------------------------------------------------------------------------------------------------------------
Three months ended Three months ended
December 31, 2011 December 31, 2012 Change %
------------------------------------------------------------------------------------------------------------
[Domestic] 210,593 210,140 -453 -0.2
Percentage of net sales (%) 46.0 44.7
[Overseas] 247,192 259,492 12,300 5.0
Percentage of net sales (%) 54.0 55.3
The Americas 112,762 119,508 6,746 6.0
Percentage of net sales (%) 24.6 25.4
Europe, Middle East and Africa 103,411 107,177 3,766 3.6
Percentage of net sales (%) 22.6 22.8
Other 31,019 32,807 1,788 5.8
Percentage of net sales (%) 6.8 7.1
Grand Total 457,785 469,632 11,847 2.6
Percentage of net sales (%) 100.0 100.0
------------------------------------------------------------------------------------------------------------
Reference: Exchange rate December 31, 2011 December 31, 2012
US$ 1 Yen 77.39 Yen 81.27
EURO 1 Yen 104.29 Yen 105.43
|
*Geographic area was changed in this fiscal year.
Middle East and Africa were reclassified from Other into Europe in this fiscal
year.
The reclassification was made to the prior year's figures.
10
(3) CONSOLIDATED STATEMENTS OF CASH FLOWS
(Millions of yen)
---------------------------------------------------------------------------------------------------------------
Third Quarter ended Third Quarter ended
December 31, 2011 December 31, 2012
---------------------------------------------------------------------------------------------------------------
I. Cash Flows from Operating Activities:
Consolidated net income (loss) -49,815 20,811
Adjustments to reconcile consolidated net income (loss) to
net cash provided by operating activities-
Depreciation and amortization 65,887 62,918
Equity in earnings of affiliates, net of dividends
received -17 -47
Deferred income taxes -14,489 1,935
Loss on impairment of long-lived assets 9,898 420
Loss on impairment of securities 5,024 120
Loss on impairment of goodwill 27,464 --
Pension and severance costs, less payments -5,535 -2,843
Changes in assets and liabilities-
Increase (Decrease) in trade receivables 16,436 -4,714
Increase in inventories -32,466 -9,259
Increase in finance receivables -13,229 -12,800
Decrease in trade payables -22,075 -15,464
Decrease in accrued income taxes and accrued expenses and
other -27,672 -17,068
Other, net 14,952 4,331
---------------------------------------------------------------------------------------------------------------
Net cash provided by (used in) operating activities -25,637 28,340
---------------------------------------------------------------------------------------------------------------
II. Cash Flows from Investing Activities:
Proceeds from sales of property, plant and equipment 826 1,399
Expenditures for property, plant and equipment, including
interest capitalized -53,968 -61,156
Expenditures for intangible fixed asset including
interest capitalized -10,664 -8,340
Payments for purchases of available-for-sale securities -127 -91
Proceeds from sales of available-for-sale securities 32 64
Increase in time deposits -631 -1,276
Purchase of business, net of cash acquired -15,089 -2,118
Other, net -9,278 -4,768
---------------------------------------------------------------------------------------------------------------
Net cash used in investing activities -88,899 -76,286
---------------------------------------------------------------------------------------------------------------
III. Cash Flows from Financing Activities:
Proceeds from long-term indebtedness 81,396 68,441
Repayment of long-term indebtedness -59,102 -29,673
Decrease (Increase) in short-term borrowings, net 105,094 -17,436
Proceeds from issuance of long-term debt securities -- 20,000
Repayment of long-term debt securities -226 --
Dividends paid -23,942 -15,226
Payment for purchase of treasury stock -20 -8
Other, net -585 -694
---------------------------------------------------------------------------------------------------------------
Net cash provided by financing activities 102,615 25,404
---------------------------------------------------------------------------------------------------------------
IV. Effect of Exchange Rate Changes on Cash and Cash Equivalents -8,413 740
---------------------------------------------------------------------------------------------------------------
V. Net Decrease in Cash and Cash Equivalents -20,334 -21,802
---------------------------------------------------------------------------------------------------------------
VI. Cash and Cash Equivalents at Beginning of Year 172,221 156,210
---------------------------------------------------------------------------------------------------------------
VII. Cash and Cash Equivalents at End of Period 151,887 134,408
---------------------------------------------------------------------------------------------------------------
|
11
(4) NOTES ON PREMISE GOING CONCERN
Not applicable
(5) SEGMENT INFORMATION
(a) Operating Segments Information
Third Quarter ended December 31, 2011 and 2012 (Millions of yen)
-----------------------------------------------------------------------------------------------------------------------
Third Quarter ended Third Quarter ended
December 31, 2011 December 31, 2012 Change %
-----------------------------------------------------------------------------------------------------------------------
IMAGING & SOLUTIONS:
Net sales:
Unaffiliated customers 1,225,716 1,207,241 -18,475 -1.5
Intersegment -- -- -- --
Total 1,225,716 1,207,241 -18,475 -1.5
-----------------------------------------------------------------------------------------------------------------------
Operating expenses 1,206,085 1,115,362 -90,723 -7.5
-----------------------------------------------------------------------------------------------------------------------
Operating income 19,631 91,879 72,248 368.0
Operating income on sales in Imaging & Solutions (%) 1.6 7.6
-----------------------------------------------------------------------------------------------------------------------
INDUSTRIAL PRODUCTS:
Net sales:
Unaffiliated customers 74,903 70,201 -4,702 -6.3
Intersegment 3,688 3,200 -488 -13.2
Total 78,591 73,401 -5,190 -6.6
-----------------------------------------------------------------------------------------------------------------------
Operating expenses 81,142 73,846 -7,296 -9.0
-----------------------------------------------------------------------------------------------------------------------
Operating loss -2,551 -445 2,106 --
Operating loss on sales in Industrial Products (%) -3.2 -0.6
-----------------------------------------------------------------------------------------------------------------------
OTHER:
Net sales:
Unaffiliated customers 96,248 109,657 13,409 13.9
Intersegment -- -- -- --
Total 96,248 109,657 13,409 13.9
-----------------------------------------------------------------------------------------------------------------------
Operating expenses 99,297 112,025 12,728 12.8
-----------------------------------------------------------------------------------------------------------------------
Operating loss -3,049 -2,368 681 --
Operating loss on sales in Other (%) -3.2 -2.2
-----------------------------------------------------------------------------------------------------------------------
CORPORATE AND ELIMINATIONS:
Net sales:
Intersegment -3,688 -3,200 488
Total -3,688 -3,200 488 --
-----------------------------------------------------------------------------------------------------------------------
Operating expenses:
Intersegment -3,688 -3,200 488
Corporate 51,039 48,583 -2,456
Total 47,351 45,383 -1,968 --
-----------------------------------------------------------------------------------------------------------------------
Operating loss -51,039 -48,583 2,456 --
-----------------------------------------------------------------------------------------------------------------------
CONSOLIDATED:
Net sales:
Unaffiliated customers 1,396,867 1,387,099 -9,768 -0.7
Intersegment -- -- -- --
Total 1,396,867 1,387,099 -9,768 -0.7
-----------------------------------------------------------------------------------------------------------------------
Operating expenses 1,433,875 1,346,616 -87,259 -6.1
-----------------------------------------------------------------------------------------------------------------------
Operating income (loss) -37,008 40,483 77,491 --
Operating income (loss) on consolidated net sales (%) -2.6 2.9
-----------------------------------------------------------------------------------------------------------------------
|
*Certain products were reclassified into segment "Imaging & Solutions" and
"Industrial Products" from "Other" in this fiscal year. The above
reclassification was made to the prior year's figures.
12
Three months ended December 31, 2011 and 2012 (Millions of yen)
---------------------------------------------------------------------------------------------------------------------------
Three months ended Three months ended
December 31, 2011 December 31, 2012 Change %
---------------------------------------------------------------------------------------------------------------------------
IMAGING & SOLUTIONS:
Net sales:
Unaffiliated customers 396,407 409,604 13,197 3.3
Intersegment -- -- -- --
Total 396,407 409,604 13,197 3.3
---------------------------------------------------------------------------------------------------------------------------
Operating expenses 413,830 377,318 -36,512 -8.8
---------------------------------------------------------------------------------------------------------------------------
Operating income (loss) -17,423 32,286 49,709 --
Operating income (loss) on sales in Imaging & Solutions (%) -4.4 7.9
---------------------------------------------------------------------------------------------------------------------------
INDUSTRIAL PRODUCTS:
Net sales:
Unaffiliated customers 24,314 22,764 -1,550 -6.4
Intersegment 1,424 1,148 -276 -19.4
Total 25,738 23,912 -1,826 -7.1
---------------------------------------------------------------------------------------------------------------------------
Operating expenses 26,133 23,699 -2,434 -9.3
---------------------------------------------------------------------------------------------------------------------------
Operating income (loss) -395 213 608 --
Operating income (loss) on sales in Industrial Products (%) -1.5 0.9
---------------------------------------------------------------------------------------------------------------------------
OTHER:
Net sales:
Unaffiliated customers 37,064 37,264 200 0.5
Intersegment -- -- -- --
Total 37,064 37,264 200 0.5
---------------------------------------------------------------------------------------------------------------------------
Operating expenses 37,628 38,889 1,261 3.4
---------------------------------------------------------------------------------------------------------------------------
Operating loss -564 -1,625 -1,061 --
Operating loss on sales in Other (%) -1.5 -4.4
---------------------------------------------------------------------------------------------------------------------------
CORPORATE AND ELIMINATIONS:
Net sales:
Intersegment -1,424 -1,148 276
Total -1,424 -1,148 276 --
---------------------------------------------------------------------------------------------------------------------------
Operating expenses:
Intersegment -1,424 -1,148 276
Corporate 16,593 17,779 1,186
Total 15,169 16,631 1,462 --
---------------------------------------------------------------------------------------------------------------------------
Operating loss -16,593 -17,779 -1,186 --
---------------------------------------------------------------------------------------------------------------------------
CONSOLIDATED:
Net sales:
Unaffiliated customers 457,785 469,632 11,847 2.6
Intersegment -- -- -- --
Total 457,785 469,632 11,847 2.6
---------------------------------------------------------------------------------------------------------------------------
Operating expenses 492,760 456,537 -36,223 -7.4
---------------------------------------------------------------------------------------------------------------------------
Operating income (loss) -34,975 13,095 48,070 --
Operating income (loss) on consolidated net sales (%) -7.6 2.8
---------------------------------------------------------------------------------------------------------------------------
|
*Certain products were reclassified into segment "Imaging & Solutions" and
"Industrial Products" from "Other" in this fiscal year. The above
reclassification was made to the prior year's figures.
13
(b) Geographic Segments Information
Third Quarter ended December 31, 2011 and 2012 (Millions of yen)
----------------------------------------------------------------------------------------------------------------------------
Third Quarter ended Third Quarter ended
December 31, 2011 December 31, 2012 Change %
----------------------------------------------------------------------------------------------------------------------------
JAPAN:
Net sales:
External customers 653,143 652,650 -493 -0.1
Intersegment 286,780 278,203 -8,577 -3.0
Total 939,923 930,853 -9,070 -1.0
----------------------------------------------------------------------------------------------------------------------------
Operating expenses 969,794 912,933 -56,861 -5.9
----------------------------------------------------------------------------------------------------------------------------
Operating income (loss) -29,871 17,920 47,791 --
Operating income (loss) on sales in Japan (%) -3.2 1.9
----------------------------------------------------------------------------------------------------------------------------
THE AMERICAS:
Net sales:
External customers 349,777 353,795 4,018 1.1
Intersegment 2,622 5,152 2,530 96.5
Total 352,399 358,947 6,548 1.9
----------------------------------------------------------------------------------------------------------------------------
Operating expenses 379,002 355,196 -23,806 -6.3
----------------------------------------------------------------------------------------------------------------------------
Operating income (loss) -26,603 3,751 30,354 --
Operating income (loss) on sales in the Americas (%) -7.5 1.0
----------------------------------------------------------------------------------------------------------------------------
EUROPE, MIDDLE EAST AND AFRICA:
Net sales:
External customers 308,332 291,776 -16,556 -5.4
Intersegment 1,323 517 -806 -60.9
Total 309,655 292,293 -17,362 -5.6
----------------------------------------------------------------------------------------------------------------------------
Operating expenses 296,814 275,162 -21,652 -7.3
----------------------------------------------------------------------------------------------------------------------------
Operating income 12,841 17,131 4,290 33.4
Operating income on sales in Europe (%) 4.1 5.9
----------------------------------------------------------------------------------------------------------------------------
OTHER:
Net sales:
External customers 85,615 88,878 3,263 3.8
Intersegment 117,006 138,838 21,832 18.7
Total 202,621 227,716 25,095 12.4
----------------------------------------------------------------------------------------------------------------------------
Operating expenses 197,879 218,793 20,914 10.6
----------------------------------------------------------------------------------------------------------------------------
Operating income 4,742 8,923 4,181 88.2
Operating income on sales in Other (%) 2.3 3.9
----------------------------------------------------------------------------------------------------------------------------
CORPORATE AND ELIMINATIONS:
Net sales:
Intersegment -407,731 -422,710 -14,979
Total -407,731 -422,710 -14,979 --
----------------------------------------------------------------------------------------------------------------------------
Operating expenses -409,614 -415,468 -5,854 --
----------------------------------------------------------------------------------------------------------------------------
Operating income (loss) 1,883 -7,242 -9,125 --
----------------------------------------------------------------------------------------------------------------------------
CONSOLIDATED:
Net sales:
External customers 1,396,867 1,387,099 -9,768 -0.7
Intersegment -- -- -- --
Total 1,396,867 1,387,099 -9,768 -0.7
----------------------------------------------------------------------------------------------------------------------------
Operating expenses 1,433,875 1,346,616 -87,259 -6.1
----------------------------------------------------------------------------------------------------------------------------
Operating income (loss) -37,008 40,483 77,491 --
Operating income (loss) on consolidated net sales (%) -2.6 2.9
----------------------------------------------------------------------------------------------------------------------------
|
*Geographic area was changed in this fiscal year.
Middle East and Africa were reclassified from Other into Europe in this fiscal
year.
The reclassification was made to the prior year's figures.
14
Three months ended December 31, 2011 and 2012 (Millions of yen)
----------------------------------------------------------------------------------------------------------------------
Three months ended Three months ended
December 31, 2011 December 31, 2012 Change %
----------------------------------------------------------------------------------------------------------------------
JAPAN:
Net sales:
External customers 211,130 214,035 2,905 1.4
Intersegment 97,293 92,231 -5,062 -5.2
Total 308,423 306,266 -2,157 -0.7
----------------------------------------------------------------------------------------------------------------------
Operating expenses 323,308 301,137 -22,171 -6.9
----------------------------------------------------------------------------------------------------------------------
Operating income (loss) -14,885 5,129 20,014 --
Operating income (loss) on sales in Japan (%) -4.8 1.7
----------------------------------------------------------------------------------------------------------------------
THE AMERICAS:
Net sales:
External customers 115,617 119,503 3,886 3.4
Intersegment 753 1,652 899 119.4
Total 116,370 121,155 4,785 4.1
----------------------------------------------------------------------------------------------------------------------
Operating expenses 137,898 118,919 -18,979 -13.8
----------------------------------------------------------------------------------------------------------------------
Operating income (loss) -21,528 2,236 23,764 --
Operating income (loss) on sales in the Americas (%) -18.5 1.8
----------------------------------------------------------------------------------------------------------------------
EUROPE, MIDDLE EAST AND AFRICA:
Net sales:
External customers 102,692 106,308 3,616 3.5
Intersegment 213 192 -21 -9.9
Total 102,905 106,500 3,595 3.5
----------------------------------------------------------------------------------------------------------------------
Operating expenses 102,050 100,056 -1,994 -2.0
----------------------------------------------------------------------------------------------------------------------
Operating income 855 6,444 5,589 653.7
Operating income on sales in Europe (%) 0.8 6.1
----------------------------------------------------------------------------------------------------------------------
OTHER:
Net sales:
External customers 28,346 29,786 1,440 5.1
Intersegment 40,440 47,075 6,635 16.4
Total 68,786 76,861 8,075 11.7
----------------------------------------------------------------------------------------------------------------------
Operating expenses 68,680 73,501 4,821 7.0
----------------------------------------------------------------------------------------------------------------------
Operating income 106 3,360 3,254 --
Operating income on sales in Other (%) 0.2 4.4
----------------------------------------------------------------------------------------------------------------------
CORPORATE AND ELIMINATIONS:
Net sales:
Intersegment -138,699 -141,150 -2,451
Total -138,699 -141,150 -2,451 --
----------------------------------------------------------------------------------------------------------------------
Operating expenses -139,176 -137,076 2,100 --
----------------------------------------------------------------------------------------------------------------------
Operating income (loss) 477 -4,074 -4,551 --
----------------------------------------------------------------------------------------------------------------------
CONSOLIDATED:
Net sales:
External customers 457,785 469,632 11,847 2.6
Intersegment -- -- -- --
Total 457,785 469,632 11,847 2.6
----------------------------------------------------------------------------------------------------------------------
Operating expenses 492,760 456,537 -36,223 -7.4
----------------------------------------------------------------------------------------------------------------------
Operating income (loss) -34,975 13,095 48,070 --
Operating income (loss) on consolidated net sales (%) -7.6 2.8
----------------------------------------------------------------------------------------------------------------------
|
*Geographic area was changed in this fiscal year.
Middle East and Africa were reclassified from Other into Europe in this fiscal
year.
The reclassification was made to the prior year's figures.
(6) NOTES ON SIGNIFICANT CHANGES IN EQUITY
Not applicable
15
-APPENDIX-
1. CONSOLIDATED SALES BY PRODUCT CATEGORY
Third Quarter ended December 31, 2011 and 2012 (Millions of yen)
--------------------------------------------------------------------------------------------------------------------------------
Third Quarter ended Third Quarter ended Change excluding
December 31, 2011 December 31, 2012 Change % exchange impact %
--------------------------------------------------------------------------------------------------------------------------------
[Imaging & Solutions]
Office Imaging 971,707 951,753 -19,954 -2.1 -3,885 -0.4
Percentage of net sales (%) 69.6 68.6
Domestic 359,189 354,442 -4,747 -1.3 -4,747 -1.3
Overseas 612,518 597,311 -15,207 -2.5 862 0.1
Production Printing 110,642 104,774 -5,868 -5.3 -4,530 -4.1
Percentage of net sales (%) 7.9 7.6
Domestic 23,924 24,500 576 2.4 576 2.4
Overseas 86,718 80,274 -6,444 -7.4 -5,106 -5.9
Network System Solutions 143,367 150,714 7,347 5.1 8,712 6.1
Percentage of net sales (%) 10.3 10.9
Domestic 130,879 129,970 -909 -0.7 -909 -0.7
Overseas 12,488 20,744 8,256 66.1 9,621 77.0
Imaging & Solutions Total 1,225,716 1,207,241 -18,475 -1.5 297 0.0
Percentage of net sales (%) 87.8 87.1
Domestic 513,992 508,912 -5,080 -1.0 -5,080 -1.0
Overseas 711,724 698,329 -13,395 -1.9 5,377 0.8
The Americas 336,497 340,199 3,702 1.1 -733 -0.2
Europe, Middle East and Africa 297,958 279,286 -18,672 -6.3 4,350 1.5
Other 77,269 78,844 1,575 2.0 1,760 2.3
--------------------------------------------------------------------------------------------------------------------------------
[Industrial Products]
Industrial Products 74,903 70,201 -4,702 -6.3 -4,465 -6.0
Percentage of net sales (%) 5.4 5.1
Domestic 41,449 34,743 -6,706 -16.2 -6,706 -16.2
Overseas 33,454 35,458 2,004 6.0 2,241 6.7
The Americas 9,401 10,312 911 9.7 777 8.3
Europe, Middle East and Africa 9,712 9,534 -178 -1.8 470 4.8
Other 14,341 15,612 1,271 8.9 994 6.9
--------------------------------------------------------------------------------------------------------------------------------
[Other]
Other 96,248 109,657 13,409 13.9 13,767 14.3
Percentage of net sales (%) 6.8 7.8
Domestic 89,667 97,247 7,580 8.5 7,580 8.5
Overseas 6,581 12,410 5,829 88.6 6,187 94.0
The Americas 1,258 3,316 2,058 163.6 2,022 160.7
Europe, Middle East and Africa 3,690 5,520 1,830 49.6 2,284 61.9
Other 1,633 3,574 1,941 118.9 1,881 115.2
--------------------------------------------------------------------------------------------------------------------------------
Grand Total 1,396,867 1,387,099 -9,768 -0.7 9,599 0.7
Percentage of net sales (%) 100.0 100.0
Domestic 645,108 640,902 -4,206 -0.7 -4,206 -0.7
Percentage of net sales (%) 46.2 46.2
Overseas 751,759 746,197 -5,562 -0.7 13,805 1.8
Percentage of net sales (%) 53.8 53.8
The Americas 347,156 353,827 6,671 1.9 2,066 0.6
Percentage of net sales
(%) 24.9 25.5
Europe, Middle East and Africa 311,360 294,340 -17,020 -5.5 7,104 2.3
Percentage of net sales
(%) 22.3 21.2
Other 93,243 98,030 4,787 5.1 4,635 5.0
Percentage of net sales
(%) 6.6 7.1
--------------------------------------------------------------------------------------------------------------------------------
Reference: Exchange rate December 31, 2011 December 31, 2012 Change
US$ 1 Yen 79.00 Yen 80.05 Yen 1.05
EURO 1 Yen 110.71 Yen 102.26 Yen -8.45
|
* Each category includes the following product line:
Office Imaging MFPs (multifunctional printers), copiers, laser printers, digital
duplicators, facsimile, scanners, related parts & supplies,
services, support and software
Production Printing Cut sheet printer, continuous feed printer, related parts &
supplies, services, support and software
Network System Solutions Personal computers, servers, network equipment, related
services, support and software
Industrial Products Thermal media, optical equipment, semiconductor devices and
electronic components
Other Digital cameras
|
*Product Category and product lines included in Product Category was changed in
this fiscal year.
Product Category in Imaging & Solutions was reclassified as Office Imaging,
Production Printing and Network System Solutions in this fiscal year (Imaging
Solutions and Network System Solutions as previous category).
Certain products were reclassified into Network System Solutions and Industrial
Products from Other in this fiscal year.
The above reclassification was made to the prior year's figures.
*Geographic area was changed in this fiscal year.
Middle East and Africa were reclassified from Other into Europe in this fiscal
year.
The reclassification was made to the prior year's figures.
A1
Three months ended December 31, 2011 and 2012 (Millions of yen)
-------------------------------------------------------------------------------------------------------------------------------
Three months ended Three months ended Change excluding
December 31, 2011 December 31, 2012 Change % exchange impact %
-------------------------------------------------------------------------------------------------------------------------------
[Imaging & Solutions]
Office Imaging 313,222 325,473 12,251 3.9 5,698 1.8
Percentage of net sales (%) 68.4 69.3
Domestic 115,956 118,445 2,489 2.1 2,489 2.1
Overseas 197,266 207,028 9,762 4.9 3,209 1.6
Production Printing 37,873 35,339 -2,534 -6.7 -3,504 -9.3
Percentage of net sales (%) 8.3 7.5
Domestic 8,455 8,065 -390 -4.6 -390 -4.6
Overseas 29,418 27,274 -2,144 -7.3 -3,114 -10.6
Network System Solutions 45,312 48,792 3,480 7.7 3,512 7.8
Percentage of net sales (%) 9.9 10.4
Domestic 40,961 40,181 -780 -1.9 -780 -1.9
Overseas 4,351 8,611 4,260 97.9 4,292 98.6
Imaging & Solutions Total 396,407 409,604 13,197 3.3 5,706 1.4
Percentage of net sales (%) 86.6 87.2
Domestic 165,372 166,691 1,319 0.8 1,319 0.8
Overseas 231,035 242,913 11,878 5.1 4,387 1.9
The Americas 108,406 114,748 6,342 5.9 818 0.8
Europe, Middle East and Africa 97,388 101,855 4,467 4.6 4,160 4.3
Other 25,241 26,310 1,069 4.2 -591 -2.3
-------------------------------------------------------------------------------------------------------------------------------
[Industrial Products]
Industrial Products 24,314 22,764 -1,550 -6.4 -1,961 -8.1
Percentage of net sales (%) 5.3 4.8
Domestic 13,276 10,740 -2,536 -19.1 -2,536 -19.1
Overseas 11,038 12,024 986 8.9 575 5.2
The Americas 3,182 3,428 246 7.7 78 2.5
Europe, Middle East and Africa 2,995 3,175 180 6.0 130 4.3
Other 4,861 5,421 560 11.5 367 7.5
-------------------------------------------------------------------------------------------------------------------------------
[Other]
Other 37,064 37,264 200 0.5 113 0.3
Percentage of net sales (%) 8.1 8.0
Domestic 31,945 32,709 764 2.4 764 2.4
Overseas 5,119 4,555 -564 -11.0 -651 -12.7
The Americas 1,174 1,332 158 13.5 100 8.5
Europe, Middle East and Africa 3,028 2,147 -881 -29.1 -871 -28.8
Other 917 1,076 159 17.3 120 13.1
-------------------------------------------------------------------------------------------------------------------------------
Grand Total 457,785 469,632 11,847 2.6 3,858 0.8
Percentage of net sales (%) 100.0 100.0
Domestic 210,593 210,140 -453 -0.2 -453 -0.2
Percentage of net sales (%) 46.0 44.7
Overseas 247,192 259,492 12,300 5.0 4,311 1.7
Percentage of net sales (%) 54.0 55.3
The Americas 112,762 119,508 6,746 6.0 996 0.9
Percentage of net sales (%) 24.6 25.4
Europe, Middle East and Africa 103,411 107,177 3,766 3.6 3,419 3.3
Percentage of net sales (%) 22.6 22.8
Other 31,019 32,807 1,788 5.8 -104 -0.3
Percentage of net sales (%) 6.8 7.1
-------------------------------------------------------------------------------------------------------------------------------
Reference: Exchange rate December 31, 2011 December 31, 2012 Change
US$ 1 Yen 77.39 Yen 81.27 Yen 3.88
EURO 1 Yen 104.29 Yen 105.43 Yen 1.14
|
*Each category includes the following product line:
Office Imaging MFPs (multifunctional printers), copiers, laser printers, digital
duplicators, facsimile, scanners, related parts & supplies,
services, support and software
Production Printing Cut sheet printer, continuous feed printer, related parts &
supplies, services, support and software
Network System Solutions Personal computers, servers, network equipment, related
services, support and software
Industrial Products Thermal media, optical equipment, semiconductor devices and
electronic components
Other Digital cameras
|
*Product Category and product lines included in Product Category was changed in
this fiscal year.
Product Category in Imaging & Solutions was reclassified as Office Imaging,
Production Printing and Network System Solutions in this fiscal year (Imaging
Solutions and Network System Solutions as previous category).
Certain products were reclassified into Network System Solutions and Industrial
Products from Other in this fiscal year.
The above reclassification was made to the prior year's figures.
*Geographic area was changed in this fiscal year.
Middle East and Africa were reclassified from Other into Europe in this fiscal
year.
The reclassification was made to the prior year's figures.
A2
2. FORECAST OF CONSOLIDATED PERFORMANCE
(Billions of yen)
----------------------------------------------------------------------------------------------------------------------
Third Quarter ended Fourth Quarter ending Year ending
December 31, 2012 Change March 31, 2013 Change March 31, 2013 Change
Results % Forecast % Forecast %
----------------------------------------------------------------------------------------------------------------------
Net sales 1,387.0 -0.7 532.9 5.2 1,920.0 0.9
Gross profit 563.4 -0.9 201.5 9.3 765.0 1.6
Operating income (loss) 40.4 -- 34.5 82.2 75.0 --
Income (loss) before income taxes 36.2 -- 31.2 87.6 67.5 --
Net income (loss) attributable to Ricoh
Company, Ltd. 17.3 -- 18.6 115.7 36.0 --
----------------------------------------------------------------------------------------------------------------------
Net income (loss) attributable to Ricoh
Company, Ltd. shareholders per
share-basic (yen) 23.86 -- 25.79 -- 49.65 --
Net income (loss) attributable to Ricoh
Company, Ltd. shareholders per
share-diluted (yen) -- -- -- -- -- --
----------------------------------------------------------------------------------------------------------------------
Capital expenditures 61.1 17.9 79.0
Depreciation for tangible fixed assets 44.5 15.5 60.0
R&D expenditures 82.1 30.9 113.0
----------------------------------------------------------------------------------------------------------------------
Exchange rate (Yen/US$) 80.05 85.00 81.29
Exchange rate (Yen/EURO) 102.26 115.00 105.44
----------------------------------------------------------------------------------------------------------------------
|
3. FORECAST OF CONSOLIDATED SALES BY PRODUCT CATEGORY
(Billions of yen)
-------------------------------------------------------------------------------------------------------------------------
Fourth Quarter ending March 31, 2013 Year ending March 31, 2013
------------------------------------ --------------------------
Change Change Change Change
Forecast % Forecast(*) % Forecast % Forecast(*) %
-------------------------------------------------------------------------------------------------------------------------
[Imaging & Solutions]
Office Imaging 372.0 5.8 353.5 0.6 1,323.8 0.0 1,321.3 -0.1
Domestic 137.8 0.3 137.8 0.3 492.2 -0.9 492.2 -0.9
Overseas 234.2 9.4 215.7 0.7 831.5 0.6 829.1 0.3
Production Printing 39.4 4.0 37.0 -2.3 144.2 -2.9 143.2 -3.6
Domestic 8.7 1.7 8.7 1.7 33.2 2.2 33.2 2.2
Overseas 30.7 4.7 28.3 -3.5 111.0 -4.4 109.9 -5.3
Network System Solutions 59.1 5.7 58.4 4.4 209.8 5.3 210.5 5.6
Domestic 51.7 0.8 51.7 0.8 181.6 -0.3 181.6 -0.3
Overseas 7.4 60.0 6.7 45.1 28.1 64.5 28.8 68.4
Imaging & Solutions Total 470.5 5.6 448.9 0.8 1,677.8 0.4 1,674.9 0.2
Domestic 198.2 0.5 198.2 0.5 707.1 -0.6 707.1 -0.6
Overseas 272.3 9.7 250.7 1.0 970.6 1.1 967.8 0.8
The Americas 127.4 8.8 118.9 1.6 467.6 3.1 454.7 0.2
Europe, Middle East and Africa 116.3 11.0 105.2 0.4 395.6 -1.8 407.5 1.2
Other 28.6 8.9 26.6 1.4 107.4 3.8 105.6 2.0
-------------------------------------------------------------------------------------------------------------------------
[Industrial Products]
Industrial Products 23.0 -0.6 22.2 -4.3 93.2 -4.9 92.6 -5.6
Domestic 10.9 -8.5 10.9 -8.5 45.6 -14.5 45.6 -14.5
Overseas 12.1 7.6 11.3 0.2 47.6 6.4 47.0 5.1
The Americas 3.5 4.7 3.4 0.2 13.8 8.4 13.5 6.2
Europe, Middle East and Africa 3.7 12.0 3.3 0.2 13.2 1.7 13.5 3.7
Other 4.9 6.6 4.6 0.1 20.5 8.3 19.9 5.3
-------------------------------------------------------------------------------------------------------------------------
[Other]
Other 39.4 3.5 38.9 2.1 149.0 11.0 148.9 10.9
Domestic 33.0 2.6 33.0 2.6 130.2 6.9 130.2 6.9
Overseas 6.4 8.1 5.9 -0.4 18.8 50.5 18.7 49.3
The Americas 1.3 12.4 1.2 3.7 4.6 91.1 4.5 85.5
Europe, Middle East and Africa 2.1 10.2 1.9 -0.3 7.6 36.2 7.9 40.7
Other 3.0 4.9 2.8 -2.1 6.6 46.3 6.3 40.6
-------------------------------------------------------------------------------------------------------------------------
Grand Total 532.9 5.2 510.0 0.7 1,920.0 0.9 1,916.5 0.7
Domestic 242.1 0.3 242.1 0.3 883.0 -0.4 883.0 -0.4
Overseas 290.8 9.6 267.9 1.0 1,037.0 2.0 1,033.5 1.6
The Americas 132.2 8.7 123.5 1.5 486.0 3.7 472.7 0.8
Europe, Middle East and Africa 122.1 11.0 110.4 0.4 416.4 -1.2 428.9 1.8
Other 36.5 8.3 34.0 0.9 134.5 6.0 131.9 3.9
-------------------------------------------------------------------------------------------------------------------------
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* Excluding foreign exchange impact
A3