Ricoh Reports Surge in Q1 FY2026 Operating Profit

Ricoh Reports Surge in Q1 FY2026 Operating Profit

Ricoh released its consolidated financial results for the first quarter of fiscal year 2026 (ended June 30, 2026), posting a sharp increase in operating profit boosted by non-recurring items and continued strength in recurring business lines.

Consolidated revenue rose 8.4% year-over-year to ¥629.8 billion (US$ 3.99 billion). Operating profit jumped 277.8% year-over-year to ¥47.7 billion (US$ 0.30 billion) , up from ¥12.6 billion (US$ 79.81 million) in the same period last year. Net profit attributable to owners of the parent surged 284.1% year-over-year to ¥37.0 billion (US$ 0.23 billion).

The massive uptick in quarterly operating profit was significantly influenced by one-time favorable factors, notably including ¥12.2 billion (US$ 77.27 million) in unexpected U.S. tariff refunds as well as gains linked to a Chinese subsidiary transfer. Excluding these non-recurring items and foreign exchange fluctuations, Ricoh’s underlying recurring earnings grew 13% year-over-year, demonstrating baseline operational progress.

Workplace Services segment generated ¥252.6 billion (US$ 1.60 billion) in revenues, up 9% YoY, and returned to an operating profit of ¥0.6 billion (US$ 3.8 million), compared to a ¥5.2 billion (US$ 32.94 million) loss in 2025. Strong momentum in Japan’s IT and application services effectively offset sluggish IT investment sentiment across European and North American markets.

Sales in Graphic Communications increased 7% year-over-year to ¥69.7 billion (US$ 0.44 billion), with operating profit turning positive at ¥2.2 billion (US$ 13.93 million). A solid non-hardware print business countered sluggish hardware demand in Europe caused by geopolitical uncertainties in the Middle East.

Ricoh left its full-year FY2026 earnings forecast unchanged. Management noted that while tariff refunds provided an early boost, potential headwind risks from Q2 onward—such as rising semiconductor memory costs, Middle East tensions, and potential tariff revisions.

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