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 activities have resumed due to the lifting of restrictions. 

“On the other hand, prices have been rising due to higher raw material prices and the depreciation of the yen. Prices and wages in the United States have increased and the monetary authorities tightened their policies to reduce inflation. GDP temporarily fell, but has since recovered.

“In Europe, the Russia/Ukraine situation has been prolonged and the deterioration in relations with Russia have caused price increases to spread to a wide variety of items. The soaring energy prices and food prices are having an 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. The recovery in Europe and Americas led to an increase in sales for commercial printing. 
Despite the material shortages’ impact, the sales of production printers rose as we tried to increase production volumes and procure alternative components from market. The sales of non-hardware recovered and almost returned to pre-COVID-19. 

The industrial printing industry [includes wide format printers, inkjet printheads and DTG printers]Despite the effects of lockdown on the mainstay Chinese market, sales increased. 
Even though profits were cut due to higher costs of procuring substitute components from the marketplace, the improvement in development, production and service activities, as well the depreciation the yen, helped to generate profit.
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.