Financial Data > Financial Results

Ricoh Company, Ltd. and Consolidated Subsidiaries

Financial Highlights for the 3rd Quarter ended December 31, 2003 (U.S. GAAP Financial Information)

1. Items relating to 3rd quarter financial statements

(1) No change in accounting method has been made
(2) Change relating to the scale of consolidation and the application of the equity method:

Consolidated subsidiaries: No change
Companies accounted for by the equity method: No addition; 1 removal

2. Results for the period from October 1, 2003 to December 31, 2003

(1) Operating Results		(Millions of yen)
		Three months ended December 31, 2003	Three months ended December 31, 2002	Year ended March 31, 2003
Net sales		420,903	420,739	1,738,358
	(% change from the previous corresponding periods)	0.0	4.8	3.9
Operating income		36,214	33,394	133,654
	(% change from the previous corresponding periods)	8.4	12.3	3.1
Income before income taxes		33,266	29,987	123,470
	(% change from the previous corresponding periods)	10.9	15.9	8.4
Net income		19,664	17,801	72,513
	(% change from the previous corresponding periods)	10.5	19.5	17.7
Net income per share-basic (yen)		26.53	24.51	99.79
Net income per share-diluted (yen)		-	23.74	96.81

Notes:Equity in earnings of affiliates: ¥932 million (¥459 million in previous corresponding period)

(2) Financial Position	(Millions of yen)
	December 31, 2003	December 31, 2002	March 31, 2003
Total assets	1,922,150	1,807,267	1,884,922
Shareholders' equity	708,888	671,132	657,514
Equity ratio (%)	36.9	37.1	34.9
Equity per share (yen)	958.20	925.98	885.41

Notes:Number of shares outstanding as of December 31, 2003: 739,813,149 shares (724,777,428 shares as of December 31, 2002)

Cash Flow	(Millions of yen)
	Nine months ended December 31, 2003	Nine months ended December 31, 2002	Year ended March 31, 2003
Cash flows from operating activities	81,698	112,173	185,742
Cash flows from investing activities	-40,400	-76,695	-98,199
Cash flows from financing activities	9,223	-26,212	-67,143
Cash and cash equivalents at end of period	238,389	177,564	189,243

3. Forecast of operating results from April 1, 2003 to March 31, 2004	(Millions of yen)
Net sales	1,777,000
Operating income	153,000
Income before income taxes	144,000
Net income	85,000

In accordance with Japanese regulations, Ricoh has issued forecast for its financial results for the fiscal year ending March 2004. These forecast are forward-looking statements based on a number of assumptions and beliefs in light of the information currently available to management and subject to significant risks and uncertainties.