The OEM’s new half year and full year predictions were all revised down.
The results were tied in with Ricoh’s predictions for the full year, and were filed alongside both old and new predictions, so as to show the changes. The OEM had forecast net sales for the half year in April of ¥990 billion ($9.4 billion/€8.5 billion), but revised that to ¥971.4 billion ($9.2 billion/€8.4 billion), with the prediction revised down by 1.9 percent, and last year’s half year sales came to ¥1.09 trillion ($10.37 billion/€9.43 billion).
In terms of operating profit meanwhile, the OEM’s prediction in April was ¥21 billion ($199 million/€181 million), now revised down to ¥16.55 billion ($157.50 million/€143.28 million), a fall of 21.2 percent between predictions, and the half year figure last year was recorded as ¥56.11 billion ($534 million/€485.78 million). For the whole year, Ricoh had predicted in April that it would see net sales of ¥2.04 trillion ($19.41 billion/€17.66 billion), but has now revised that down by 1.5 percent to ¥2.01 trillion ($19.12 billion/€17.4 billion), with last year’s net sales reaching ¥2.20 trillion ($20.93 billion/€19.04 billion).
In turn, the predictions for operating profit fell from ¥55 billion ($523 million/€476 million) in April this year to ¥40 billion ($380 million/€346 million), a drop of 27.3 percent, while last year’s operating profit was ¥102.29 billion ($979.30 million/€890.87 million). In terms of background, the OEM noted that the first half of year saw “net sales, operating profit, profit before income taxes, and profit attributable to owners of the parent” all lower than forecast “due to lower overseas sales”.
Its full year result predictions meanwhile were revised “because we have allocated costs for structural reform for our future business growth”, and it noted that “we will not change our forecast for the cash dividends for the year”.