Ricoh 2002 Annual Report Download - page 25

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M a n a g e m e n t ’s D is c u s s io n a n d A n a ly s is o f F is c a l 2 0 0 2 R e s u lt s
prime perform ance contributors were digital m onochrom e and color plain-paper
copiers ( PPCs) . As a result of these factors, office equipment sales im proved
11.0%, to ¥1,485.3 billion ( $11,168 million) . The average yen-dollar rate for the
term plunged around ¥14, to ¥125. The yen-euro average was down about ¥10, to
¥110.
Operating Income
Operating income surged 23.4%, to ¥129.6 billion ( $975 m illion) . This reflected
increased sales of high-value-added core offerings like digital PPCs and MFPs,
ongoing cost-cutting, and the impact of currency fluctuations.
Income before Income Taxes
Income before income taxes, m inority interests and equity in earnings of affili-
ates gained 16.6%, to ¥113.9 billion ( $856 million) . The rise would have been
greater if not for declines in interest and dividend income am id sluggish finan-
cial market conditions, foreign currency exchange loss, and an increase in net
other expenses.
Ricoh continued to improve its perform ance in fiscal 2002, ended March 31,
2002. During the term , the Com pany stepped up its drive to transform itself into a
global solutions provider. It also cultivated new customers, particularly m ajor ac-
counts, and increased its sales of network equipment and solutions products. Net
sales and net income, reached record highs, for the seventh and eighth years, re-
spectively.
Revenues
Net sales increased 8.7%, to ¥1,672.3 billion ( $12,573 million) — the eighth con-
secutive gain. Dom estic sales dipped 3.0%, to ¥902.6 billion ( $6,786 m illion) , but
overseas sales surged 26.6%, to ¥769.6 billion ( $5,787 m illion) . Overseas sales
would have risen 14.6% if the previous year’s exchange rates had rem ained un-
changed. Dom estic and overseas sales represented 54.0% and 46.0%, respectively,
of net sales.
In the office equipment category, m ultifunctional printers ( MFPs) and laser
printers contributed m ightily to sales in all Ricoh’s m arkets. In addition, useware
and docum ent m anagem ent system s sold well in Japan. Internationally, the
Japan
The Am ericas
Europe
Other
Total
S ALES BY P RODUCT L INE
Office Equipment:
Copiers and related supplies
Comm unications and information systems
Other Businesses
Total
S ALES BY G EOGRAPHIC A REA
2001
Thousands of
U.S. dollars
Percentage of
net sales
Millions of yen
Percentage of
net sales
Millions of yen
2 0 0 2
¥ 915,333
423,041
199,888
¥1,538,262
59.5%
27.5
13.0
100.0%
¥ 1 ,0 3 8 ,4 9 5
4 4 6 ,8 9 4
1 8 6 ,9 5 1
¥ 1 ,6 7 2 ,3 4 0
6 2 .1 %
2 6 .7
1 1 .2
1 0 0 .0 %
$ 7 ,8 0 8 ,2 3 3
3 ,3 6 0 ,1 0 5
1 ,4 0 5 ,6 4 7
$ 1 2 ,5 7 3 ,9 8 5
N EW S EGMENTATION
Office Equipment:
Im aging solutions
Network Input/Output System s
Network System Solutions
Other Businesses
Total
2001
Thousands of
U.S. dollars
Percentage of
net sales
Millions of yen
Percentage of
net sales
Millions of yen
2 0 0 2
¥ 867,033
261,838
209,503
199,888
¥1,538,262
56.4%
17.0
13.6
13.0
100.0%
¥ 9 3 4 ,1 8 0
3 4 4 ,2 4 7
2 0 6 ,9 6 2
1 8 6 ,9 5 1
¥ 1 ,6 7 2 ,3 4 0
5 5 .8 %
2 0 .6
1 2 .4
1 1 .2
1 0 0 .0 %
$ 7 ,0 2 3 ,9 1 0
2 ,5 8 8 ,3 2 3
1 ,5 5 6 ,1 0 5
1 ,4 0 5 ,6 4 7
$ 1 2 ,5 7 3 ,9 8 5
2001
Thousands of
U.S. dollars
Percentage of
net sales
Millions of yen
Percentage of
net sales
Millions of yen
2 0 0 2
¥ 930,433
252,698
247,449
107,682
¥1,538,262
60.5%
16.4
16.1
7.0
100.0%
¥ 9 0 2 ,6 5 5
3 4 1 ,7 4 7
3 1 1 ,3 1 2
1 1 6 ,6 2 6
¥ 1 ,6 7 2 ,3 4 0
5 4 .0 %
2 0 .4
1 8 .6
7 .0
1 0 0 .0 %
$ 6 ,7 8 6 ,8 8 0
2 ,5 6 9 ,5 2 6
2 ,3 4 0 ,6 9 2
8 7 6 ,8 8 7
$ 1 2 ,5 7 3 ,9 8 5