RICOH COMPANY,LTD., The Current Fiscal Year Net Income Revised Downward to an Unexpected 14% Decrease

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Fri Nov 8, 2024 3:30 pm JST Earnings

7752 RICOH COMPANY,LTD. 【IFRS】

Earnings Report

RICOH COMPANY,LTD. <7752> [TSE-P] announced its financial results (based on IFRS) after the market closed on November 8th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 40.6% from the same period last year to 9.26 billion yen.

In addition, the full-year consolidated net income has downwardly by 20.8%, from the previous forecast of 48 billion yen to 38 billion yen (compared to 44.1 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 14.0% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to nearly flat at 28.7 billion yen, up 0.6% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated net income significantly dropped to 1.47 billion yen, a 78.4% decrease compared to the same period last year. The operating profit margin worsened from 1.6% in the same period last year to 0.1%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	973,536	23,448	24,604	14,914	23.9	30.3	Nov 4, 2022	IFRS
Apr - Sep, 2023	1,112,590	19,561	24,629	15,614	25.6	36.1	Nov 8, 2023	IFRS
Apr - Sep, 2024	1,202,588	6,809	13,167	9,268	15.6	22.7	Nov 8, 2024	IFRS
YoY	+8.1%	-65.2%	-46.5%	-40.6%	-39.1%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	19	May 7, 2024	IFRS
Apr - Sep, 2024 Results	1,202,588	6,809	13,167	9,268	15.6	19	Nov 8, 2024	IFRS
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	2,500,000	70,000	73,000	48,000	84.3	38	May 7, 2024	IFRS
Mar, 2025 New	2,550,000	52,000	58,000	38,000	66.7	38	Nov 8, 2024	IFRS
Revision Rate	+2.0%	-25.7%	-20.5%	-20.8%	-20.8%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	1,236,397	42,462	43,573	28,562	46.9	18	May 7, 2024	IFRS
Oct - Mar, 2024 Guidance	1,347,412	45,191	44,833	28,732	50.5	19	Nov 8, 2024	IFRS
YoY	+9.0%	+6.4%	+2.9%	+0.6%	+7.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,134,180	78,740	81,308	54,367	88.1	34	May 8, 2023	IFRS
Mar, 2024	2,348,987	62,023	68,202	44,176	72.6	36	May 7, 2024	IFRS
Mar, 2025 Guidance	2,550,000	52,000	58,000	38,000	66.7	38	Nov 8, 2024	IFRS
YoY	+8.6%	-16.2%	-15.0%	-14.0%	-8.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	577,989	9,390	11,295	6,819	11.2	1.6	Nov 8, 2023	IFRS
Oct - Dec, 2023	585,098	17,597	18,055	14,663	24.1	3.0	Feb 6, 2024	IFRS
Jan - Mar, 2024	651,299	24,865	25,518	13,899	22.8	3.8	May 7, 2024	IFRS
Apr - Jun, 2024	574,379	6,332	9,844	7,798	13.0	1.1	Aug 6, 2024	IFRS
Jul - Sep, 2024	628,209	477	3,323	1,470	2.5	0.1	Nov 8, 2024	IFRS
YoY	+8.7%	-94.9%	-70.6%	-78.4%	-77.8%