FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of January 2012
Commission File Number 2 - 68279
RICOH COMPANY, LTD.
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(Translation of Registrant's name into English)
13-1, Ginza 8-Chome, Chuo-ku, Tokyo 104-8222, Japan
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(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.)
Form 20-F X Form 40-F __
(Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): __ )
(Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): __ )
(Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934.)
Yes __ No X
(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-__ )
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Ricoh Company, Ltd.
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(Registrant)
By: /S/ Zenji Miura
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Zenji Miura
Director, Chief Financial Officer
Corporate Executive Vice President
January 31, 2012
REVISION OF FORECAST OF CONSOLIDATED OPERATING RESULTS, EXPECTED DIVIDENDS AND
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ANNOUNCEMENT OF IMPAIRMENT LOSSES
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Ricoh announces revision of forecast of consolidated operating results for the
fiscal year ending March 31, 2012 and of expected dividends, initially
projected in the second quarter report dated on October 28, 2011, as follows.
1. Revision of forecast of Ricoh's consolidated operating results for the
fiscal year ending March 31, 2012 (from April 1, 2011 to March 31, 2012)
(Billions of yen)
Net income
Net income (loss)
(loss) attributable to
attributable Ricoh
Operating Income (loss) to Ricoh Company Ltd.
income before income Company shareholders
Net sales (loss) taxes Ltd. per share (yen)
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Forecast announced in October 2011 (A)................... 1,950.0 37.0 26.5 10.0 13.78
Current forecast (B)..................................... 1,900.0 -18.0 -33.0 -46.0 -63.40
Increase/decrease (B-A).................................. -50.0 -55.0 -59.5 -56.0 -77.18
Increase/decrease (%).................................... -2.6% -- -- -- --
(Reference) Results for fiscal year ended March 31, 2011. 1,942.0 60.1 45.4 19.6 27.08
2. Background of revision
a. Lower forecast due to global market downturn and other effect from
business environment
Net sales will be lower than last forecast due to the global market
downturn and floods in Thailand.
b. Recognition of impairment losses for goodwill and long-lived assets
Ricoh recognized impairment losses for goodwill in amount of 27.4
billion yen and long-lived assets in amount of 9.5 billion yen for
Production Printing business according to U.S. Generally Accepted
Accounting Principles (U.S. GAAP). These impairment losses are presented
in "Selling, general and administrative expenses" in
consolidated statements of income. Please refer to "4. Impairment of
Goodwill of Production Printing business" for more details.
c. Recognition of impairment losses for available-for-sale securities
Ricoh recognized impairment losses for available-for-sale securities due
to other-than-temporary decline in stock prices in amount of 4.9 billion
yen according to U.S. GAAP. These impairment losses are presented in
"Other, net" of "Other (income) expenses" in consolidated statements of
income.
d. Decrease of deferred tax assets due to changes of effective tax rate
Ricoh re-measured deferred tax assets and liabilities based on new
effective tax rates due to new laws proclaimed by the Japanese
government on December 2, 2011. As a result, "Provision for income
taxes" in consolidated statements of income increased by 7.2 billion yen
in the third quarter ended December 31, 2011.
3. Revision of expected dividends
We have announced of year end dividends in amount of 16.5 yen per share, and
33.0 yen per share in total adding interim dividend already paid in December
2011. However, we regrettably revise our forecast of year end dividends to
8.5 yen per share considering forecasted net losses for the fiscal year.
4. Impairment of Goodwill for Production Printing business
In accordance with U.S. GAAP, Ricoh performs an annual impairment test of
goodwill at December 31, which is the annual goodwill impairment test date,
instead of amortizing goodwill.
U.S. GAAP requires a company to evaluate fair value of each reporting unit
including goodwill. In addition, a company is required to perform a
reconciliation of the aggregate fair value of reporting units and market
capitalization at the goodwill impairment test date.
The annual goodwill impairment test has not been completed yet. However, we
considered it is probable that the goodwill assigned to Production Printing
reporting unit is impaired, due to decline of Ricoh's market capitalization.
As such, we recognized the best estimate of the impairment loss in the third
quarter financial statements.
Ricoh positions Production Printing business as growing business in the
medium term. The business was negatively affected by the financial crisis in
2008, especially in the U.S. However, Ricoh is proceeding with enforcement
of marketing function by global strategic cooperation with Heidelberger
Druckmaschinen AG in Germany which was agreed upon
last year in 2011, enlargement of product line up such as RICOH Pro C751,
worldwide reorganization by establishment of Ricoh Production Print
Solutions in the U.S. and Ricoh forecasts drastic profitability improvement
of Production Printing business in the future.
January 31, 2012
Ricoh Company, Ltd.