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Ricoh Publishes "Ricoh Group Sustainability Report 2002"
Ricoh Co., Ltd. (president: Masamitsu Sakurai) has released the "Ricoh Group Sustainability Report 2002" (April 1, 2001 to March 31, 2002). The report is an unequivocal statement of the Ricoh Group's environment management policy. It shows that global environmental conservation activities equate with one of the company's corporate missions, and that in order for environmental conservation to be sustainable, environmental conservation activities must generate benefits for the company. In addition to reporting on the Ricoh Group's environmental conservation activities, the report is packed with information on the Group's social responsibilities, including Ricoh's Code of Conduct, contributions to society, human affairs, health and safety.




Detailed Reporting on Global Activities
As a dedicated global enterprise, Ricoh acts to protect the environment in every country and region in which it operates. The report, therefore, aims to showcase as many of these activities as possible. This report also highlights many examples of green purchasing, an activity promoted by the Ricoh Group around the world.


More Complete Information on Segment Environmental Accounting (8 reports on forecasts/performance)
The report contains more complete information on segment environmental accounting, a concrete example of Ricoh's environmental conservation, with cost-effect information in each field.


Report Layout Follows Environmental Management Process Sequence
As part of Ricoh's commitment to presenting information in an easy-to-understand format, the page layout follows the sequence of the environmental management process: R&D, procurement, production, sales, distribution, service, use, and recycling.


New Experiments in Environmental Accounting

Grasp of social cost (conversion of environmental impact into monetary terms)
Development of 6 new environmental management indices, which make it possible to evaluate the level of environmental management from multiple angles.
Adoption of the Eco-balance concept, and implementation, on a trial basis, of environmental accounting, which assists internal management by ascertaining the types and levels of environmental impact of each process.
See Website for details:
http://www.ricoh.co.jp/ecology/e-/account/index2001.html


Use of Global Third Party Verification to Improve Environmental Management System
BVQI (Bureau Veritas Quality International) has verified our environmental impact data and environmental accounting data in Japan, the Netherlands, Norway, and China. The results of this verification led to improvements to our environmental management system, helping to realize environmental management.


Fiscal Year Total Pages Number of copies published
Japanese English
1998 30 26,200 500
1999 32 51,300 8,375
2000 60 45,950 6,800
2001 74 20,390 7,000
2002 84 - -


The Report is printed on paper certified by the Forest Stewardship Council (FSC*1) with "Non-VOC ink"*2 that does not involve any water in the printing process (Waterless Printing*3). Ricoh is committed to minimizing environmental impact by using this kind of eco-friendly paper as well as the "Waterless Printing" process.

*1: FSC Certified Paper
An international Environmental Protection Group, the Mexican-based non-profit organization FSC (Forest Stewardship Council), is promoting an international labeling scheme to provide a credible guarantee that a product is manufactured from materials originating in an environmentally well-managed forest. The FSC aims to prevent the decrease and destruction of the world forests, which is a huge public concern. The certified forests must achieve set standards proving that the forest is environmentally conserved, must contribute to social benefit, and must be managed in a sustainable manner. Furthermore, products made of wood from certified forests are certified by the FSC, which enables them to be marketed as certified wood. In this way the FSC promotes an incentive in the market place so that consumers can purchase the products with the FSC trademark logo. Thus, this is a system that promotes sustainable forest management.

*2: Non-VOC ink
Printing ink includes as volatile organic compounds (VOC), such as pigments, resins and oils. "Non-VOC ink", on the other hand consists of 100% vegetable oils so it generates no air pollution or negative environmental impact on the human body.

*3: Waterless Printing
Generally, offset printing utilizes a special water containing IPA (isopropyl alcohol). Our "Waterless Printing", on the other hand, has special characteristics that eliminate the use of water and reduces pollution to a great extent.

For more information:

PDF data: http://www.ricoh.co.jp/ecology/e-/report/index.html
You may also request a copy from contact form:
http://www.ricoh.co.jp/ecology/e-/contact/index.html
Original Post
Fitch Assigns 'A-' Ratings To Ricoh Company Ltd.

Fitch Ratings has assigned a Long-term rating of 'A-' ('A minus') to Ricoh,

a global copier and printer manufacturer. The rating Outlook is Stable.

A number of factors have combined to effectively boost Ricoh's

profitability, including its strong financial status, competitive prowess

in digital copiers and high-speed printers, strong distribution network in

Europe and the US, as well as income from supplies and servicing fees. The

rating reflects the improvement in Ricoh's earning capacity and its

financial position. At the same time, it takes into account the company's

low-profit operations such as optical disk drives.

In the fiscal year ended (FYE) March 2002, sales increased by 9% to

JPY1,672.3 billion, with net profit climbing 16% to JPY61.6bn, the eighth

consecutive year of growing sales and the tenth of rising net profit,

thanks to copier and printer sales growth in Europe and the US. Ricoh also

reaped benefits from its January 2001 purchase of a US distributor
Reuters Company News
Ricoh Q1 energised by fast copiers,colour printers

(Adds executive's comments, stock price)

TOKYO, Aug 1 (Reuters) - Japanese office equipment maker Ricoh Co Ltd posted strong first-quarter profits and raised its full-year outlook on Thursday, defying currency and economic woes with brisk overseas sales of cutting-edge copiers and printers.
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Ricoh (Tokyo:7752.T - News), which vies with Xerox Corp (NYSE:XRX - News) and Canon Inc (Tokyo:7751.T - News) for the top spot among the world's copier makers, posted a 13.6 percent rise in consolidated operating profit for the April-June quarter to 35.93 billion yen ($300 million).

Net profit rose 31.2 percent to 19.52 billion yen, on revenues of 428.27 billion yen, up 4.0 percent.

"We achieved our goal of a heavier weighting for high-margin products like high-speed copiers and colour printers, which saw especially strong demand overseas," Ricoh deputy president Tatsuo Hirakawa told a news briefing.

"We were also able to push down costs and expenses quite a bit. We believe this situation will continue, so we raised our targets," he said.

Ricoh, which had already forecast a ninth consecutive year of record profits in 2002/03, raised its full-year net profit target to 72.50 billion yen from a forecast issued in May of 67.50 billion yen. Last year's net was 61.61 billion yen.

The full-year operating profit forecast was raised to 140 billion yen from 136 billion, beating last year's 129.7 billion.

The revenue figure, however, was cut to 1.75 trillion yen from 1.77 trillion yen, reflecting the effects of the sluggish domestic economy and the stronger yen.

It would still surpass the prior year's 1.67 trillion yen.

The company lowered it assumed exchange rate for the business year to 118 yen per dollar from 125 yen per dollar. The dollar was trading just below 120 yen late on Thursday in Tokyo.

A stronger yen means that Japan's exporters get less of the Japanese currency for goods they sell abroad.

The announcement came after the end of share trade in Tokyo.

Ricoh ended 0.1 percent lower at 1,958 yen, outperforming a 0.85 percent drop in the benchmark Nikkei average (^N225 - News).

Its shares have fallen nearly 20 percent over the past two months, weighed down by worries the high yen would deplete its earnings power.

But Ricoh's Hirakawa said the momentum of its high-end products overcame the dampening effect of currency movements.

"The product mix proved to be a bigger factor than the yen's rise," he said.

Asked about the company's plans for its hoard of cash, Hirakawa said the first priority would be looking for acquisitions and alliances.

Another possibility would be buying up shares of publicly listed units to make them wholly owned subsidiaries, in a bid to shore up management control over the group.

The company may also use the money to purchase some of its own shares, he said. ($1=119.77 Yen)
Reuters Company News
Ricoh posts record profit, eyes more gains

(Adds comments from company executive, fund manager)

By Edmund Klamann

TOKYO, May 8 (Reuters) - Japanese office equipment maker Ricoh Co Ltd on Wednesday posted a record net profit for the year that ended in March and forecast further gains for this year, boosted by popular products that defied an info-tech slump.
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It said consolidated net profit in 2001/02 rose 15.8 percent to 61.61 billion yen ($480.7 million), in line with an upwardly revised forecast it issued in February.

Operating profit rose 23.4 percent to 129.70 billion yen on revenues of 1.67 trillion yen, up 8.7 percent.

"With the help of favourable foreign exchange rates, we saw strong growth in overseas sales," Ricoh Deputy President Tatsuo Hirakawa told a news conference.

"One negative spot was the domestic market, which turned out a little more sluggish than we had originally anticipated."

Ricoh's overseas sales in the last business year jumped 26.6 percent from a year earlier to 769.7 billion yen, while its domestic sales dipped three percent to 902.7 billion yen.

Both Ricoh, Japan's second-largest office machine maker, and number-one Canon Inc (Tokyo:7751.T - news) have posted strong earnings despite an info-tech slump last year that left many of Japan's blue-chip electronics manufacturers deep in the red.

The office machine makers were bolstered by successful new products and weakness at rival Xerox Corp (NYSE:XRX - news), while a drop in the yen boosted the value of their sizable overseas income when converted into the Japanese currency.

In the domestic market, however, a decline in sales of old-line copiers offset growth in advanced, multi-functional printers, which work as a network printer as well as a copier, resulting in the three percent fall in revenues.

"I'm afraid growth in multi-functional machines fell slightly short of covering a slide in conventional copiers," Hirakawa said.

For the current business year, Ricoh forecast a consolidated net profit of 67.50 billion yen on revenues of 1.77 trillion yen, aiming for a record profit for the ninth consecutive year.

That was roughly in line with analysts' consensus forecast of a 69.7 billion yen net profit on revenues of 1.75 trillion yen, according to research firm Multex.

"Just like Canon, Ricoh has a business model that ensures stable earnings growth. Its shares are ideal for long-term investors," said Shuichi Hida, a portfolio manager at Sanyo Investment Trust Management.

"It may not be the kind of stock that stages a sharp rally. But you don't need to worry about a sudden downturn in the share price either."

At an analysts' meeting in March, Ricoh President Masamitsu Sakurai promised further growth in the years ahead, aiming for a 2004/05 operating profit of 180 billion yen on sales of 2.0 trillion yen.

He said growth would be driven in large part by a focus on colour, high-speed and networked copiers and printers.

Wednesday's results, which were accompanied by an announcement that the company plans to buy back up to eight million of its own shares for up to 20 billion yen, came after the close of trade on the Tokyo Stock Exchange.

Ricoh ended up 2.79 percent at 2,395 yen, outperforming the benchmark Nikkei average's (^N225 - news) 1.81 percent gain.

The shares have jumped smartly from their post-September 11 low of 1,563, although they remain below an all-time high hit nearly one year ago

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