Friday, March 13, 2009

Ricoh cuts 2010/11 operating profit target by 32 pct

TOKYO, March 13 (Reuters) - Japan's Ricoh Co Ltd (7752.T), the world's largest copier maker, said on Friday it had cut its operating profit target for the year starting April 2010 by a third due to a firmer yen.

It now expects profit of 170 billion yen ($1.7 billion), compared with its previous goal of 250 billion yen announced a year ago.

Ricoh also said it aims for 2.3 trillion yen in revenues for the 2010/11 business year, compared with its previous target of 2.5 trillion yen.

The new targets are based on foreign exchange assumptions of 90 yen to the dollar and 120 yen per euro. Its earlier assumptions were 105 yen to the dollar and 155 yen per euro.



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2 comments:

  1. Be sure to watch that quarter by quarter. I have a feeling that things are pretty soft in their new production arena as well. The C900 seems to be met with quite a bit of skepticism and the trials that have been set are not your typical 1 or 2 week versions. With the typical 20-25% in production targets IKON will not be able to provide the numbers that they have in the past, this will contribute to the erosion of that target even further. With the ongoing battle between RBS and IKON over territory and rights we could see that number start to look like a pipe dream.

    Sorry to sound pessimistic,

    Pirate Mike

    (watching the erosion from the inside)

    http://digitalprintingevolution.blogspot.com/

    http://piratemikedallas.blogspot.com/

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  2. Mike!

    How you been?

    Yes, very interesting now that the dust appears to be settling.

    You are not pessimistic - facts are stubborn things"

    Good Comment, keep coming back.

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