Ricoh Company (7752) Q4 2025 earnings summary

Executive summary

• Sales rose 7.6% year-over-year to ¥2,527.8 billion, driven by Office Services, ETRIA joint venture, and yen depreciation.

• Operating profit increased 2.9% to ¥63.8 billion; profit attributable to owners up 3.5% to ¥45.7 billion.

• Recurring revenues from Office Services increased 14% year-over-year, surpassing the FY2025 target.

• Office Printing hardware and non-hardware sales declined, but Office Services and Commercial/Industrial Printing offset this.

• Year-end dividend of ¥19 per share, with a total payout ratio of 48.6% and total shareholder return ratio of 163.4%.

Financial highlights

• Gross profit up 5.9% to ¥868.6 billion; operating margin at 2.5% (down 0.1pt year-over-year).

• EPS rose to ¥78.11 from ¥72.58 year-over-year; equity per share at ¥1,809.90.

• Free cash flow improved to ¥57.5 billion, up from ¥27.7 billion in the prior year.

• Total assets increased to ¥2,357.1 billion; total debt up by ¥91.0 billion to ¥440.6 billion.

• R&D expenditures decreased by ¥14.8 billion to ¥95.0 billion.

Outlook and guidance

• FY2025 sales forecast at ¥2,560 billion (+1.3%), operating profit at ¥80 billion (+25.3%), and EPS at ¥98.39.

• Office Services earnings growth expected to offset lower Office Printing profits; focus on recurring revenue contracts.

• US tariff policy expected to have a ¥13 billion net impact in FY2025; mitigation measures in place.

• Dividend to increase to ¥40 per share for FY2025.