Ricoh Leasing Company (8566) Q4 2026 earnings summary

Executive summary

• Net sales rose 8.5% year-over-year to ¥338.5B for FY2025, reaching record highs, while operating profit and ordinary profit met initial plans but declined year-over-year; net income fell 18.1% due to extraordinary losses.

• Comprehensive income declined 20.9% year-over-year to ¥13,342 million.

• Dividend per share increased by 5 yen to ¥185, with a payout ratio above 40%.

• Announced a new 26-28 Medium-Term Management Plan focused on growth investment and capital allocation.

Financial highlights

• FY2025 net sales: ¥338.5B (+8.5% YoY); gross profit: ¥50.1B (+3.3% YoY); net income: ¥12.8B (-18.1% YoY); operating profit: ¥20.6B (-5.1% YoY); ordinary profit: ¥21.0B (-4.5% YoY).

• Earnings per share dropped to ¥415.96 from ¥507.99; net assets per share rose to ¥7,840.55.

• Total assets increased to ¥1,465.6B from ¥1,376.2B.

• ROA: 0.90% (-0.29pp YoY); ROE: 5.4% (-1.5pp YoY).

• Financial expenses rose sharply due to higher market interest rates.

Outlook and guidance

• FY2026 forecast: net sales to rise to ¥370.0B (+9.3%), gross profit to ¥50.4B (+0.5%), but net income to decline to ¥11.9B (-7.2%).

• Operating profit expected to fall to ¥17.6B (-14.7%), with higher SG&A and non-recurring costs from TECHNORENT integration and rebranding.

• Dividend per share to increase to ¥256, including a ¥71 special dividend.

• Medium-term targets (FY2028): net income ¥14.5B, ROE 5.7%, annual dividend per share ¥258.