The company has published its consolidated results for nine months period that ended 31 December 2023.
Ricoh recorded sales of ¥1,697.6 billion ($11.41 billion/ €10.63 billion), a double digit increase of 11.1% year-on-year. During the reporting period, gross profit grew 10.7% year-on-year to ¥596.6 billion ($4.01 billion/ €3.74 billion).
Ricoh said that while unit sales of MFPs continued to increase through regional and market-specific campaigns in response to price competition, inventory reductions and production adjustments continued, and RICOH Digital Products was unable to turn earnings around.
Q3 operating profit increased year-on-year, which Ricoh attributes to higher A3 MFP production in view of year-end demand projections, cost reductions, and other factors. Hardware sales rose 5% but unit sales were lower than projected, whereas non-hardware: sales declined 1%, as expected by Ricoh.
Ricoh revised the sales mix downward in view of Q3 results and operating conditions in the office printing and thermal business segments.
