Ricoh 2009 Annual Report Download - page 12

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Progress of the 16th Mid-Term Management Plan (MTP)
Shiro Kondo
President and
Chief Executive Ofcer
Building a strong global brand
by creating new customer value
Becoming a partner in creating a
more efficient office environment,
with our innovative products and
services representing Ricoh Value
Never be afraid of change. Aggressive
implementation of our own business reforms.
Ricoh’s customer offerings are backed by
our own efforts grow and to provide effective
business solutions.
11 ANNUAL REPORT 2009
Q1 What do you make of the current
economic and market climate?
Reaping investment benets in earnest in the
second half of scal 2010 despite adverse
market conditions
Our business in fiscal 2009 was severely affected by the economic
crisis that emerged in the middle of 2008, the magnitude and
scope of which were far greater than expected. In addition, the
yen appreciated rapidly during the year. We thus had to lower
our earnings estimates twice during the year, and finished fiscal
2009 by missing the revised estimates. These results were partly
due to non-business factors, such as the additional costs of
ongoing structural reform and a loss on revaluation of securities.
That said, it is a disappointment that our financial performance
caused great concern to our shareholders and investors. We
anticipate market conditions will remain very difficult in fiscal
2010. However, we also expect that the benefits of the large-scale
investments and structural reforms we have made to date
will begin to bear fruit in a tangible way.