Ricoh 2009 Annual Report Download - page 30

Download and view the complete annual report

Please find page 30 of the 2009 Ricoh annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 82

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82

29 ANNUAL REPORT 2009
SALES BY GEOGRAPHIC AREA
2008
2009
Percentage of Percentage of Thousands of
Millions of Yen net sales Millions of Yen net sales U.S.dollars
Japan ¥ 1,016,034 45.8%
¥ 938,331 44.9% $9,478,091
The Americas 434,799 19.6
502,862 24.0 5,079,414
Europe 603,219 27.2
523,407 25.0 5,286,939
Other 165,937 7.4
127,096 6.1 1,283,798
Total ¥2,219,989 100.0%
¥2,091,696 100.0% $21,128,242
Financial Position
For Assets, cash and cash equivalents increased from the end of the
previous corresponding period. In addition, other investments
including goodwill increased due to the acquisition of IKON, Inc.
that was an American-based independent company dealing office
equipment. As a result, total assets increased by ¥299.1 billion to
¥2,513.4 billion($25,388 million).
For Liabilities, interest-bearing debt increased from the end of the
previous corresponding period due mainly to the financing for the
acquisition of IKON, Inc. As a result, total liabilities increased by
¥413.2 billion to ¥1,489.1 billion($15,041 million).
For the shareholders’ equity, accumulated other comprehensive
income increased due mainly to the increase of cumulative
translation adjustments reflecting currency exchange, and the
increase of pension liability adjustments derived from the decrease
of pension assets reflecting the decline of the stock market. Total
Shareholders’ Investment decreased by ¥104.8 billion from the end
of the previous corresponding period, to 975.3 billion($9,852
million).
Cash Flows
Net cash provided by operating activities decreased by ¥106.8
billion from the previous corresponding period, to ¥87.4
billion($883 million) as net income decreased.
Net cash used in investing activities increased by ¥84.8 billion from
the previous corresponding period, to ¥283.1 billion($2,860
million), because a payment for the formation of the acquisition of
IKON, Inc. exceed a payment for the formation of a joint venture
company with IBM Corporation.
As a result, negative free cash flow generated by operating activities
and investment activities increased by ¥191.7 billion from the
previous corresponding period, to ¥195.6 billion($1,976 million).
Net cash used in financing activities amounted to ¥295.9
billion($2,989 million) due primarily to the issuance of bond and
the financing by borrowing, while net cash used in financing
activities was ¥72.1 billion in the previous corresponding period.
As a result of the above, cash and cash equivalents as of the end of
this fiscal year increased by ¥87.8 billion from the end of the
previous corresponding period, to ¥258.4 billion($2,610 million).
Capital Expenditures
Ricoh’s capital investments for fiscal years 2007, 2008 and 2009
were ¥85.8 billion, ¥85.2 billion and ¥96.9 billion($979 million),
respectively. Ricoh directed a significant portion of its capital
investments for fiscal years 2007, 2008 and 2009 towards digital
and networking equipment, such as digital PPCs/MFPs, laser
printers and production printing products, and manufacturing
facilities to maintain or enhance its competitiveness in the industry.
Ricoh projects that for fiscal year 2010, its capital investments will
amount to approximately ¥95.0 billion($960 million), which will
principally be used for investments in manufacturing facilities of
digital and networking equipment with new engines, toners,
semiconductors and thermal media. For example, during fiscal year
2010, Ricoh plans to complete the construction of a manufacturing
plant in Thailand for MFPs and laser printers to reinforce its
manufacturing network in Asia. Ricoh intends to finance the
construction of this new plant with internally generated funds. This
new manufacturing plant will allow the Company to improve its
production capabilities and to hedge against the risk of over-
dependence on its manufacturing plants located in China.
In addition, one of Ricoh’s subsidiaries, Tohoku Ricoh Co., Ltd is
expected to establish a manufacturing plant in Japan during fiscal
year 2010 for PxP toners, which are toners that are capable of
producing higher quality images. The construction of this plant is
expected to be financed with internally generated funds.