Ricoh Results Sees Difference to the Previous Forecast

With the release of its results for the first half of the fiscal year (ending September 30, 2016), Ricoh announced the difference between its previous forecast and more recent results.

In general, the actual performance in the first half year is lower than they had previously forecasted, due to lower overseas sales. The difference includes:

• Net sales was of JP¥ 971,443 million (US$ 9.225 million), a decline of 1.9% when comparing to the previous forecast.
• Operating profit fell 21.2% to JP¥ 16,550 million (US$ 0.157 million) in comparison to the previous forecast.
• Profit before income taxes decreased 23.5% while profit attributable to owners of the parent  decreased 46.2%, in comparison to the previous forecast.

Based on the current business performance, Ricoh also revised a forecast for the full year ending March 31, 2017. The revision includes:

• Net sales decrease 1.5% to JP¥ 2,010,000 million (US$ 19.09 billion);
• Operating profit decreases 27.3% to JP¥ 40,000 million (US$ 0.38 million);
• Profit before income taxes decrease 28.3% to JP¥ 38,000 million (US$ 360.92 million);
• Profit attributable to owners of the parent decreases 40% to JP¥ 18,000 million (US$ 170.98 million);
• Earnings per share attributable to owners of the parent-basic decline from JP¥ 41.39 million (US$ 0.4 million) to JP¥ 24.83 million (US$ 0.24 million).

In April 2016, Ricoh projected outlooks for the first half and the full year of 2016 fiscal year.

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