Ricoh Reports Growth in FY 2021
According to Ricoh, its sales and earnings rose year on year but were less than targeted for the fiscal year ended March 31, 2022.
The OEM also claimed that it failed to reach targets for Q4 sales expansion on increased product supplies and IT equipment recovery and for print volume recovery from returns to offices in Europe and United States.
Some highlights from the year 2021 include:
- Sales increased 4.5% year-over-year to 5 billion (US$13.56 billion)
- Gross profit increased 8.8% year-over-year to JPY 622.6 billion (US$4.80 billion)
In the fiscal year 2021, operating profit turned out to be JPY 40.0 billion (US$308.52 million), representing a turnaround from JPY45.5 billion (US$350.94 million) operating loss. Profit attributable to owners of the parent company was JPY 30.3 billion (US$233.71 million), a turnaround from JPY 32.7 billion (US$252.26 million) operating loss.
By segment, Ricoh digital services sales increased 4% in the fiscal year 2021, and returned to profitability through JPY18.8 billion (US$145.04 million) turnaround, boosting revenues for the term by overhauling value amid hardware shortages.
Ricoh digital products sales increased 2% year-over-year in the fiscal year 2021, and earnings grew JPY25.2 billion (US$194.41 million) through strategic design, procurement, and production responses to ongoing impacts of external factors.
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