Ricoh’s President of worldwide operation, Shiro Kondo, gave out details on its financials:o predicting increase in worldwide sales of 11% between now and end of fiscal 2011o predicting total worldwide sales this fiscal of 2.5 trillion yen ($26 billion).
- Key driver will be sales of production print devices to commercial printerso will spend a total of $725 million to finish acquisition of IBM’s printer division by 2010o IBM sold $1 billion worth of printers in 2006.
- Has paid a total of $210 million for the European branches of DANKA. Operating profit will increase worldwide 7.8%.
- Projections for this year are less than targets that Ricoh published earlier as part of its 3 year plano “Our business in the U.S. is the hardest-hit” stated Ricoh’s worldwide CFO, Zenji Miurao.
Other comments from CEO, Shiro Kondo:
- “we will comprehensively revise our current research and development system”
- “we can no longer increase our competitiveness simply by satisfying customers”
- “what matters now is how we make our products and services represent values that inspire customers”
- “transform process to creating rather than making”
- Will set up a “marketing strategy office” on 4/1/08 in Japan to explore market needs from a long-term point of view.
- “we can’t develop new products and services only by asking customers what they want….we will research the issues and needs that the customers themselves don’t even fully understand and propose new values and services”
- Plans to undertake large-scale restructuring as early as July of this year.
- Slower-than-expected sales of its GelSprint inkjet printer/MFP products “focusing on profitability in the 16th plan”.
- Aiming to make up for the loss in profits that came about as a result of its downsizing.
- Will reorganize its businesses and cut personnel if necessary.
With the start of the new business year for Ricoh as of April 1st, we'll just have to wait and see.