Ricoh profit jumps 16% on sales growth

Ricoh’s sales in the first nine months of the fiscal year rose by 19.8% to ¥1,528.6 billion ($A16.75bn) and gross profit increased by 16.7% pcp to ¥538.8 billion ($A5.9bn). The company’s Graphic Communications business, which includes Commercial and Industrial Printing, recorded a sales increase of 25% (9.8% excluding foreign currency exchange fluctuations).

                 Ricoh Pro TF6251 flatbed LED UV printer

Screen Shot 2023 02 08 at 10.08.19 am“The world economy resumed its economic activities compared to the previous corresponding period, when had been greatly affected by the expansion of COVID-19 infection,” Ricoh said. 

“During this period, the number of people infected with COVID-19 reached a record high in Japan. Despite decreasing numbers of COVID-19 infected individuals increasing each year since then, economic activity is resuming because of the lifting of restrictions. 

“On the other hand, prices have been rising due to higher raw material prices and the depreciation of the yen. The U.S. has seen rising wages and prices. Although the monetary authorities tried to curb inflation temporarily, the GDP declined and was temporarily negative. However, the economy is now on a recovery path.

“In Europe due to the prolonged Russia/Ukraine crisis and the deterioration on relations with Russia, price rises have spread to many items because of the soaring food and energy prices. This is having an obvious impact on the economy. 

“In other regions, China’s lockdown caused by the zero-COVID policy has brought a halt to economic activity, and the subsequent rapid expansion of COVID-19 due to the lifting of the zero-COVID policy has affected the economy and society.”
Review by Business Segment

Graphic Communications [includes commercial printing and industrial printing]

Graphic Communications sales were ¥169.5 billion and increased by 25.1% (an increase of 9.8% excluding foreign currency exchange fluctuations) as compared to the previous corresponding period. As economic activity recovered in Europe, Americas, the sales of commercial printing increased. 
Despite the negative impact of material shortages on sales, we were able to increase the number of production printers as we tried hard to secure production volumes. We also procured alternative components from the marketplace. Non-hardware sales continued to rebound, almost back to levels before the COVID-19 outbreak. 

Industrial printing [includes wide format printers, inkjet printheads and DTG printers]Despite the effects of lockdown on the mainstay Chinese market, sales increased. 
Although profits in the commercial printing industry were reduced by higher costs due to the purchase of alternative components on the market, there was still profit from improvements in production, development, and service activities as well as the appreciation of the yen.
As a result, Graphic Communications operating profit was ¥10.0 billion and increased by ¥8.1 billion as compared to the previous corresponding period.

In September 2022, IVE Group, the region’s largest printer, chose Ricoh Australia as its preferred digital print partner, installing six Ricoh Pro C9210 digital production presses and two Ricoh Pro C7210X models.


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