U.S. Tariff Refund, Increased Recurring Revenue, Weaker Yen, Boost Ricoh’s First-Quarter Financial Results

Ricoh Company of Japan today reported financial results for its first quarter that ended on June 30th.

In a nutshell, it was a good quarter for the company, which benefited from increased recurring revenue, a U.S. tariff refund, and depreciation of the yen. Ricoh did warn however that it expected semiconductor memory costs to intensify beginning in the second quarter.

First-quarter net revenue was ¥629.8 billion ($4.01 billion), up 8.4 percent year-over-year (YoY); operating profit was ¥47.7 billion ($303.78 million), up 277.8 percent YoY; and net income was ¥37.0 billion ($235.63 million), up 284.1 percent YoY.

The company benefited from ¥12.2 billion ($77.69 million) in U.S.  tariff refunds and recorded ¥17.8 billion ($113.36 million) in profit from selling its Chinese subsidiary. It also benefited from higher recurring revenues streams. 

Digital Products 

Digital Products first-quarter net revenue was ¥267.8 billion ($1.70 billion), up 6.6 percent YoY – however, it decreased by 0.6 percent YoY excluding the foreign-exchange impact. Operating profit was ¥26.3 billion ($167.49 million), up 88.4 percent YoY.

Non-hardware earnings exceeded Ricoh’s forecast on machine-in-field (MIF) management and sales promotions in the Japanese, Asia-Pacific, and Latin American markets. Ricoh says it mitigated the impact of rising semiconductor memory costs through price pass-throughs and procurement and production efforts.

Earnings for Digital Product benefited from dealer sales initiatives, ETRIA partnership benefits, and U.S. tariff refunds.

Office Printing’s sales increased in Japan. In Europe, hardware sales were again weak, and were weak in the Americas.

During the first, Ricoh reorganized ETRIA’s European toner production sites to build a more competitive global production structure. ETRIA sales to partners increased 21 percent. (ETRIA is Ricoh’s joint partnership with Toshiba Tec and Oki Electric for MFP development and manufacturing. Ricoh is the majority owner at about 80 percent.) 

Workplace Services

Sales for Ricoh’s Workplace Services business decreased slightly due to the impact of Ricoh’s divestiture of its managed IT services business in the United States. 

Workplace Services sales were ¥252.6 billion ($1.60 billion), up 8.6 percent YoY (up 2.3 percent YoY excluding the foreign-exchange impact), and operating profit was ¥0.6 billion ($3.82 million), versus a loss of ¥5.2 billion ($33.1 million) for the same quarter a year earlier.

Graphic Communications 

Graphic Communications sales were ¥69.7 billion ($444.11 million), up 7.1 percent YoY, and operating profit was ¥2.2 billion ($14.0 million), versus a loss of ¥1.5 billion ($9.5 million) for the same quarter a year ago.

Forecast

Ricoh maintained its forecast for its fiscal year that will end on March 31, 2027. It’s forecasting net revenue of ¥2,700.0 billion ($17.2 billion), up 3.5 percent YoY; operating profit of 95.0 billion ($605.32 million), up 4.7 percent YoY; and net income of ¥62.0 billion ($395.0 million), up 11.4 percent YoY.

More Resources

• July 2026: Ricoh Divests 3D for Healthcare Business
• June 2026: Ricoh Invests in AI Specialist Focusing on Unstructured Data
• June 2026: Ricoh to Automate Facilities Management with Thread AI and Artificial Intelligence 
• June 2026: Ricoh Advances Workplace Services Strategy with New Acquisition
• May 2026: Ricoh Reports Upbeat Results for Full Year, But Lagging Fourth Quarter