MIRA
INFORM REPORT
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Report Date : |
12.05.2007 |
IDENTIFICATION DETAILS
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Name : |
RICOH CO LTD |
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Registered Office : |
8-13-1 |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Feb
1936 |
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Legal Form : |
Limited
Company (Kabushiki Kaisha) |
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Line of Business : |
Manufacturing
of copiers, fax machines, other OA equipment |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
Yen 47995.4 millions |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
RICOH CO LTD
REGD NAME
KK Ricoh
MAIN OFFICE
8-13-1 Ginza
Chuoku
Tel:
03-6278-2111
E-Mail
address: (thru the URL)
ACTIVITIES
Mfg of
copiers, fax machines, other OA equipment
BRANCHES
OVERSEAS
FACTORY(IES)
CHIEF EXEC
MASAMITSU
SAKURAI, PRES & CEO
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 2,068,925 M
PAYMENTS REGULAR CAPITAL Yen 135,364 M
TREND STEADY WORTH Yen
1,070,913 M
STARTED 1936 EMPLOYES 12,107
COMMENT
MFR OF OA EQUIPMENT.
FINANCIAL SITUATION COSIDERED FAIR AND GOOD FOR ORDINARY BUSINESS
ENGAGEMENTS.
MAX
CREDIT LIMIT: YEN 47,995.4 MILLION, 30 DAYS NORMAL TERMS
Forecast (or estimated)
figures for 31/03/2008 fiscal term
HIGHLIGHTS
This is the top mfr of OA equipment such as copiers & Fax
machines. Top ranked in this specific line of business. Operations are global with production plants
in US,
FINANCIAL INFORMATION
The sales volume for Mar/2007 fiscal term amounted to Yen
2,068,925 million, an 8% up from Yen 1,915,090 million in the previous
term. Sales grew on increased sales of
copiers and laser printers, mainly in US and
For the current term ending Mar 2007 the recurring profit is
projected at Yen 192,000 million and the net profit at Yen 117,000 million, on
an 8.8% rise in turnover, to Yen 2,250,000 million. Acquisition of IBM’s digital business printer
operations as well as the European business of
The financial situation is considered FAIR and good for ORDINARY business engagements. Max credit limit is estimated at Yen 47,995.4 million, on 30 days normal terms.
REGISTRATION
Date
Registered: Feb 1936
Legal
Status: Limited Company
(Kabushiki Kaisha)
Authorized: 1,500 million shares
Issued: 744,912,078 shares
Sum: Yen 135,364 million
Major shareholders (%): Master Trust Bank of Japan T (8.9), Japan Trustee Services Bank T (5.6), MUFG (4.8),
Company’s Treasury Stock (1.9), State Street
Bank & Trust 505103 (1.9),
Bank & Trust 1255 (1.6), JA Assoc (1.6); foreign owners (39.7)
No. of
shareholders: 20,466 (as of Sept.06)
Listed on the S/Exchange (s) of:
Managements: Masamitsu Sakurai, pres & CEO, Shiro Kondoh, rep dir; Koichi Endo, dir; Masayuki Matsumoto, dir; Katsumi Yoshida, dir; Takashi Nakamura, dir; Kazunori Azuma, dir; Zenji Miura, dir; Kiyoshi Sakai, dir
Nothing
detrimental is known as to the commercial morality of executives.
Related companies
Ricoh
Lease, Ricoh Elemex, Tohoku Ricoh, other (Tot 252 as of Sept/06)
OPERATION
Activities:
Manufactures OA equipment (100%)
(Sales breakdown by divisions):
Office Solutions (86.9%):
Imaging solutions (76.7%): digital PPCs, color PPCs, analog PPCs, duplicators, facsimile machines, scanners, MFPs (multi function printers), diazo copiers, related supplies & services, related software, etc;
Network Systems solutions (10.2%): PCs, servers, networking
equipment, network-related software, application software, services &
support;
Industrial Products (6.0%): thermal medias, optical equipment, semiconductors, PC unit products, meters, etc
Others (7.1%):
optical disc products, digital cameras, other;
Overseas sales ratio (52.6%):
Clients:
Mfrs, wholesalers, business firms, other
No. of
accounts: 2,000
Domestic
areas of activities: Nationwide
Suppliers:
Mfrs, wholesalers, other
Payment
record: Regular
Location: Business area in
Bank References
Mizuho
Corporate Bank (Ohtemachi)
MUFG
(H/O)
Relations:
Satisfactory
FINANCES
(In
Million Yen)
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FINANCES: (Consolidated
in million yen) |
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Terms Ending: |
31/03/2007 |
31/03/2006 |
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INCOME STATEMENT |
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Annual Sales |
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2,068,925 |
1,915,090 |
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Cost of Sales |
1,206,519 |
1,120,090 |
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GROSS PROFIT |
862,406 |
795,000 |
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Selling & Adm Costs |
688,026 |
646,416 |
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OPERATING PROFIT |
174,380 |
148,584 |
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Non-Operating P/L |
139 |
4,182 |
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RECURRING PROFIT |
174,519 |
152,766 |
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NET PROFIT |
111,724 |
97,057 |
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BALANCE SHEET |
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Cash |
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257,154 |
188,525 |
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Receivables |
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693,237 |
630,501 |
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Inventory |
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184,354 |
169,245 |
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Securities, Marketable |
177 |
162 |
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Other Current Assets |
65,170 |
55,110 |
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TOTAL CURRENT ASSETS |
1,200,092 |
1,043,543 |
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Property & Equipment |
264,668 |
268,243 |
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Intangibles |
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Investments, Other Fixed Assets |
778,646 |
729,397 |
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TOTAL ASSETS |
2,243,406 |
2,041,183 |
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Payables |
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367,211 |
339,152 |
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Short-Term Bank Loans |
178,847 |
185,651 |
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Other Current Liabs |
189,554 |
159,225 |
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TOTAL CURRENT LIABS |
735,612 |
684,028 |
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Debentures |
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Long-Term Bank Loans |
236,801 |
195,626 |
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Reserve for Retirement Allw |
99,028 |
97,020 |
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Other Debts |
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44,183 |
51,374 |
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TOTAL LIABILITIES |
1,115,624 |
1,028,048 |
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MINORITY INTERESTS |
56,869 |
52,890 |
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Common
stock |
135,364 |
135,364 |
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Additional
paid-in capital |
186,454 |
186,450 |
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Retained
earnings |
752,398 |
665,394 |
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Evaluation
p/l on investments/securities |
26,998 |
4,099 |
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Others |
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0 |
0 |
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Treasury
stock, at cost |
(30,301) |
(31,062) |
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TOTAL S/HOLDERS` EQUITY |
1,070,913 |
960,245 |
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TOTAL EQUITIES |
2,243,406 |
2,041,183 |
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CONSOLIDATED CASH FLOWS |
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Terms ending: |
31/03/2007 |
31/03/2006 |
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Cash
Flows from Operating Activities |
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167,297 |
173,479 |
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Cash Flows
from Investment Activities |
-115,432 |
-120,051 |
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Cash
Flows from Financing Activities |
9,282 |
-59,989 |
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Cash,
Bank Deposits at the Term End |
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255,737 |
187,055 |
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ANALYTICAL RATIOS Terms ending: |
31/03/2007 |
31/03/2006 |
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Net
Worth (S/Holders' Equity) |
1,070,913 |
960,245 |
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Current
Ratio (%) |
163.14 |
152.56 |
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Net
Worth Ratio (%) |
47.74 |
47.04 |
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Recurring
Profit Ratio (%) |
8.44 |
7.98 |
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Net
Profit Ratio (%) |
5.40 |
5.07 |
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Return
On Equity (%) |
10.43 |
10.11 |
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RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)