Financial Data > Financial Results

Ricoh Company, Ltd. and Consolidated Subsidiaries

INTERIM REPORT (Consolidated. Half year ended September 30, 2003)

Date of approval for the financial results for the half year ended September 30, 2003, at the Board of Directors' meeting:October 29, 2003

1. Results for the period from April 1, 2003 to September 30, 2003
(1) Operating Results		(Millions of yen)
		Half year ended September 30, 2003	Half year ended September 30, 2002	Year ended March 31, 2003
Net sales		888,090	856,821	1,738,358
	(% change from the previous corresponding periods)	3.6	4.5	3.9
Operating income		77,255	61,328	133,654
	(% change from the previous corresponding periods)	26.0	2.4	3.1
Income before income taxes		71,416	55,673	123,470
	(% change from the previous corresponding periods)	28.3	6.0	8.4
Net income		42,265	33,525	72,513
	(% change from the previous corresponding periods)	26.1	18.0	17.7
Net income per share-basic (yen)		56.79	46.11	99.79
Net income per share-diluted (yen)		-	44.68	96.81

Notes:
i. Equity in income of affiliates: ¥972 million; ¥1,608 million (half year ended September 30, 2002); ¥2,403 million (year ended March 31, 2003)
ii. Average number of shares outstanding (consolidated): 744,261,032 shares; 727,020,387 shares (half year ended September 30, 2002) 726,659,698 shares (year ended March 31, 2003)
iii. No change in accounting method has been made

(2) Financial Position	(Millions of yen)
	September 30, 2003	September 30, 2002	March 31, 2003
Total assets	1,912,162	1,826,385	1,884,922
Shareholders' equity	703,075	663,665	657,514
Equity ratio (%)	36.8	36.3	34.9
Equity per share (yen)	946.38	912.98	885.41

Notes:Number of shares outstanding as of September 30, 2003: 742,906,263 shares; 726,919,110 shares (September 30, 2002);742,608,635 shares (March 31, 2003)

(3) Cash Flow	(Millions of yen)
	Half year ended September 30, 2003	Half year ended September 30, 2002	Year ended March 31, 2003
Cash flows from operating activities	61,656	99,119	185,742
Cash flows from investing activities	-19,997	-33,395	-98,199
Cash flows from financing activities	-6,643	-16,562	-67,143
Cash and cash equivalents at end of period	225,013	217,418	189,243

(4) Items relating to the scale of consolidation and the application of the equity method:
Number of consolidated subsidiaries: 333; non-consolidated subsidiaries: 37; affiliated companies: 24

(5) Changes in accounting method, etc.:
Consolidated subsidiaries: No addition; 1 removal
Companies accounted for by the equity method: No change

Notes:
Consolidated financial statements of the Company and its consolidated subsidiaries have been prepared in conformity with accounting principles generally accepted in the United States of America.

2. Forecast of operating results from April 1, 2003 to March 31, 2004	(Millions of yen)
Net sales	1,800,000
Operating income	152,000
Income before income taxes	144,000
Net income	85,000

Notes:Net income per share (Consolidated) 114.42 yen

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.