RICOH COMPANY, LTD. Ricoh Company, Ltd.
Condensed Consolidated Financial Statements for the Half Year Ended September 30, 2023
This is an English translation of the Quarterly Securities Report (Shihanki Hokokusho) for the half year ended September 30, 2023 pursuant to the Japanese Financial Instrument and Exchange Law.
Condensed Consolidated Statement of Financial Position
Ricoh Company, Ltd. and its Consolidated Subsidiaries
Millions of Yen | ||
As of | As of | |
ASSETS | March 31, 2023 | September 30, 2023 |
Current assets: | ||
Cash and cash equivalents (Note 7) | 221,890 | 162,384 |
Time deposits (Note 7) | 207 | 222 |
Trade and other receivables | 476,429 | 469,275 |
Other financial assets | 93,906 | 103,206 |
Inventories | 314,368 | 340,612 |
Other current assets | 68,499 | 81,455 |
Total current assets | 1,175,299 | 1,157,154 |
Non-current assets: | ||
Property, plant and equipment | 196,512 | 201,617 |
Right-of-use assets | 57,003 | 59,967 |
Goodwill and intangible assets | 366,394 | 406,224 |
Other financial assets | 135,158 | 155,344 |
Investments accounted for using the equity method | 83,529 | 86,173 |
Other investments | 19,359 | 19,296 |
Other non-current assets | 44,540 | 49,312 |
Deferred tax assets | 72,162 | 75,701 |
Total non-current assets | 974,657 | 1,053,634 |
Total assets | 2,149,956 | 2,210,788 |
1
Millions of Yen | ||
As of | As of | |
LIABILITIES AND EQUITY | March 31, 2023 | September 30, 2023 |
Current liabilities: | ||
Bonds and borrowings (Note 8) | 157,828 | 171,738 |
Trade and other payables | 312,429 | 280,730 |
Lease liabilities | 26,185 | 22,434 |
Other financial liabilities | 2,582 | 25,788 |
Income tax payables | 11,864 | 15,587 |
Provisions | 10,968 | 10,036 |
Other current liabilities | 307,258 | 329,721 |
Total current liabilities | 829,114 | 856,034 |
Non-current liabilities: | ||
Bonds and borrowings (Note 8) | 205,110 | 175,465 |
Lease liabilities | 38,147 | 46,317 |
Other financial liabilities | 27,566 | 7,312 |
Accrued pension and retirement benefits | 41,058 | 40,628 |
Provisions | 8,347 | 8,904 |
Other non-current liabilities | 24,742 | 27,158 |
Deferred tax liabilities | 17,790 | 18,718 |
Total non-current liabilities | 362,760 | 324,502 |
Total liabilities | 1,191,874 | 1,180,536 |
Equity: | ||
Common stock | 135,364 | 135,364 |
Additional paid-in capital | 158,529 | 158,392 |
Treasury stock (Note 9) | (427) | (398) |
Other components of equity | 167,368 | 235,814 |
Retained earnings | 470,722 | 475,123 |
Equity attributable to owners of the parent | 931,556 | 1,004,295 |
Non-controlling interests | 26,526 | 25,957 |
Total equity | 958,082 | 1,030,252 |
Total liabilities and equity | 2,149,956 | 2,210,788 |
The accompanying notes are an integral part of these condensed consolidated financial statements.
2
Condensed Consolidated Statement of Profit or Loss
Ricoh Company, Ltd. and its Consolidated Subsidiaries
Half year ended September 30, 2022 and 2023
Millions of Yen | ||
Half year ended | Half year ended | |
September 30, 2022 | September 30, 2023 | |
Sales (Note 4,5) | 973,536 | 1,112,590 |
Cost of sales | 627,250 | 726,309 |
Gross profit | 346,286 | 386,281 |
Selling, general and administrative expenses | 326,520 | 371,825 |
Other income | 3,682 | 5,105 |
Operating profit (loss) | 23,448 | 19,561 |
Finance income | 1,347 | 8,247 |
Finance costs | 4,082 | 6,584 |
Share of profit (loss) of investments accounted for using the | 3,891 | 3,405 |
equity method | ||
Profit (loss) before income tax expenses | 24,604 | 24,629 |
Income tax expenses | 9,262 | 9,304 |
Profit (loss) for the period | 15,342 | 15,325 |
Profit (loss) attributable to: | ||
Owners of the parent | 14,914 | 15,614 |
Non-controlling interests | 428 | (289) |
Yen | ||
Half year ended | Half year ended | |
September 30, 2022 | September 30, 2023 | |
Earnings per share attributable to owners of the parent: | ||
(Note 12) | 23.87 | 25.63 |
Basic | ||
Diluted | 23.87 | 25.62 |
The accompanying notes are an integral part of these condensed consolidated financial statements. * Gain on sales of property, plant and equipment and others were included in "Other income".
3
Three months ended September 30, 2022 and 2023
Millions of Yen | ||
Three months ended | Three months ended | |
September 30, 2022 | September 30, 2023 | |
Sales (Note 4,5) | 514,195 | 577,989 |
Cost of sales | 335,914 | 381,906 |
Gross profit | 178,281 | 196,083 |
Selling, general and administrative expenses | 166,842 | 189,816 |
Other income | 2,383 | 3,123 |
Operating profit (loss) | 13,822 | 9,390 |
Finance income | 744 | 4,945 |
Finance costs | 2,991 | 4,791 |
Share of profit (loss) of investments accounted for using the | 1,828 | 1,751 |
equity method | ||
Profit (loss) before income tax expenses | 13,403 | 11,295 |
Income tax expenses | 5,683 | 4,549 |
Profit (loss) for the period | 7,720 | 6,746 |
Profit (loss) attributable to: | ||
Owners of the parent | 7,323 | 6,819 |
Non-controlling interests | 397 | (73) |
Yen | ||
Three months ended | Three months ended | |
September 30, 2022 | September 30, 2023 | |
Earnings per share attributable to owners of the parent: | ||
(Note 12) | ||
Basic | 11.89 | 11.20 |
Diluted | 11.89 | 11.19 |
The accompanying notes are an integral part of these condensed consolidated financial statements.
- Gain on sales of property, plant and equipment and others were included in "Other income".
4
Condensed Consolidated Statement of Comprehensive Income
Ricoh Company, Ltd. and its Consolidated Subsidiaries
Half year ended September 30, 2022 and 2023
Millions of Yen | ||
Half year ended | Half year ended | |
September 30, 2022 September 30, 2023 | ||
Profit (loss) for the period | 15,342 | 15,325 |
Other comprehensive income (loss): | ||
Components that will not be reclassified subsequently to | ||
profit or loss: | ||
Remeasurements of defined benefit plans | (570) | － |
Net changes in fair value of financial assets measured through | (143) | 214 |
other comprehensive income | ||
Share of other comprehensive income of investments accounted | (768) | 56 |
for using equity method | ||
Total components that will not be reclassified | (1,481) | 270 |
subsequently to profit or loss | ||
Components that will be reclassified subsequently to | ||
profit or loss: | ||
Net changes in fair value of cash flow hedges | (147) | － |
Exchange differences on translation of foreign operations | 59,936 | 68,273 |
Share of other comprehensive income of investments accounted | 66 | (16) |
for using equity method | ||
Total components that will be reclassified | 59,855 | 68,257 |
subsequently to profit or loss | ||
Total other comprehensive income (loss) | 58,374 | 68,527 |
Comprehensive income (loss) | 73,716 | 83,852 |
Comprehensive income (loss) attributable to: | ||
Owners of the parent | 73,080 | 83,201 |
Non-controlling interests | 636 | 651 |
The accompanying notes are an integral part of these condensed consolidated financial statements.
5
Three months ended September 30, 2022 and 2023
Millions of Yen | ||
Three months | Three months | |
ended September | ended September | |
30, 2022 | 30, 2023 | |
Profit (loss) for the period | 7,720 | 6,746 |
Other comprehensive income (loss): | ||
Components that will not be reclassified subsequently to | ||
profit or loss: | ||
Remeasurements of defined benefit plans | (570) | － |
Net changes in fair value of financial assets measured through | 83 | (29) |
other comprehensive income | ||
Share of other comprehensive income of investments accounted | (101) | 181 |
for using equity method | ||
Total components that will not be reclassified | (588) | 152 |
subsequently to profit or loss | ||
Components that will be reclassified subsequently to | ||
profit or loss: | ||
Net changes in fair value of cash flow hedges | (70) | － |
Exchange differences on translation of foreign operations | 14,972 | 12,532 |
Share of other comprehensive income of investments accounted | 130 | (125) |
for using equity method | ||
Total components that will be reclassified | 15,032 | 12,407 |
subsequently to profit or loss | ||
Total other comprehensive income (loss) | 14,444 | 12,559 |
Comprehensive income (loss) | 22,164 | 19,305 |
Comprehensive income (loss) attributable to: | ||
Owners of the parent | 21,592 | 19,156 |
Non-controlling interests | 572 | 149 |
The accompanying notes are an integral part of these condensed consolidated financial statements.
6
Condensed Consolidated Statement of Changes in Equity
Ricoh Company, Ltd. and its Consolidated Subsidiaries
(Millions of Yen) | ||||||
Other components of equity | ||||||
Net changes in | ||||||
Additional | fair value of | Net changes | ||||
Common | Treasury | Remeasurements | financial assets | |||
paid-in | in fair value | |||||
Stock | stock | of defined | measured | |||
capital | of cash flow | |||||
benefit plans | through other | |||||
hedges | ||||||
comprehensive | ||||||
income | ||||||
Balance as of April 1, | 135,364 | 180,942 | (460) | － | 4,540 | 246 |
2022 | ||||||
Profit (loss) for the | ||||||
period | ||||||
Other comprehensive | (570) | (907) | (71) | |||
income (loss) | ||||||
Comprehensive income | － | － | － | (570) | (907) | (71) |
(loss) | ||||||
Net change in treasury | (21) | (30,003) | ||||
stock (Note 9) | ||||||
Dividends declared | ||||||
and approved to | ||||||
owners (Note 10) | ||||||
Share-based payment | 45 | 15 | ||||
transactions | ||||||
Change in scope of | ||||||
consolidation | ||||||
(Note 6) | ||||||
Written put options | ||||||
over non-controlling | (20,829) | |||||
interests (Note 6) | ||||||
Transfer from other | ||||||
components of equity | 570 | (51) | ||||
to retained earnings | ||||||
Total transactions with | － | (20,805) | (29,988) | 570 | (51) | － |
owners | ||||||
Balance as of | 135,364 | 160,137 | (30,448) | － | 3,582 | 175 |
September 30, 2022 | ||||||
7
(Millions of Yen)
Other components of equity | ||||||
Exchange | Equity | Non- | ||||
differences on | Total other | Retained | attributable | |||
controlling | Total equity | |||||
translation of | components | earnings | to owners of | |||
interests | ||||||
foreign | of equity | the parent | ||||
operations | ||||||
Balance as of April 1, | 121,555 | 126,341 | 459,855 | 902,042 | 3,783 | 905,825 |
2022 | ||||||
Profit (loss) for the | 14,914 | 14,914 | 428 | 15,342 | ||
period | ||||||
Other comprehensive | 59,714 | 58,166 | 58,166 | 208 | 58,374 | |
income (loss) | ||||||
Comprehensive income | 59,714 | 58,166 | 14,914 | 73,080 | 636 | 73,716 |
(loss) | ||||||
Net change in treasury | (30,024) | (30,024) | ||||
stock (Note 9) | ||||||
Dividends declared | ||||||
and approved to | (8,281) | (8,281) | (75) | (8,356) | ||
owners (Note 10) | ||||||
Share-based payment | 60 | 60 | ||||
transactions | ||||||
Change in scope of | ||||||
consolidation | － | 14,656 | 14,656 | |||
(Note 6) | ||||||
Written put options | ||||||
over non-controlling | (20,829) | (20,829) | ||||
interests (Note 6) | ||||||
Transfer from other | ||||||
components of equity | 519 | (519) | － | － | ||
to retained earnings | ||||||
Total transactions with | － | 519 | (8,800) | (59,074) | 14,581 | (44,493) |
owners | ||||||
Balance as of | 181,269 | 185,026 | 465,969 | 916,048 | 19,000 | 935,048 |
September 30, 2022 | ||||||
8
(Millions of Yen) | ||||||
Other components of equity | ||||||
Net changes in | ||||||
Additional | fair value of | Net changes | ||||
Common | Treasury | Remeasurements | financial assets | |||
paid-in | in fair value | |||||
Stock | stock | of defined | measured | |||
capital | of cash flow | |||||
benefit plans | through other | |||||
hedges | ||||||
comprehensive | ||||||
income | ||||||
Balance as of April 1, | 135,364 | 158,529 | (427) | － | 4,847 | 240 |
2023 | ||||||
Profit (loss) for the | ||||||
period | ||||||
Other comprehensive | 254 | (16) | ||||
income (loss) | ||||||
Comprehensive income | － | － | － | － | 254 | (16) |
(loss) | ||||||
Net change in treasury | (5) | |||||
stock | ||||||
Dividends declared | ||||||
and approved to | ||||||
owners (Note 10) | ||||||
Share-based payment | (137) | 34 | ||||
transactions | ||||||
Transfer from other | ||||||
components of equity | 859 | |||||
to retained earnings | ||||||
Equity transactions | ||||||
with non-controlling | ||||||
shareholders | ||||||
Total transactions with | － | (137) | 29 | － | 859 | － |
owners | ||||||
Balance as of | 135,364 | 158,392 | (398) | － | 5,960 | 224 |
September 30, 2023 | ||||||
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Disclaimer
Ricoh Company Ltd. published this content on 10 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 November 2023 13:43:56 UTC.
