Ricoh Camera Business: Strong and Growing

Ricoh reports Q3 results; cameras remain a bright spot

By cjfeola in Photo Industry News on Feb 14, 2024

Ricoh reported 3rd quarter financial results to investors on Feb. 6, and once again singled out the results of Ricoh Imaging and Pentax. “The camera business remained strong and sales increased,” Ricoh reported. Strong results from the company’s Ricoh Imaging division — which includes Pentax cameras and lenses, and the Ricoh GR III series — have become a regular feature of Ricoh’s quarterly and annual reports to investors over the past few years.

Overall, Ricoh otherwise reported results that were somewhat mixed for the 3rd Quarter of Fiscal 2024, which covered October to December of 2023. Office services sales were up; the thermal printer business continued to miss targets because of weak demand in the US and Europe.

“Operating income has been revised downward to 60 billion yen…it will not be possible to make up for the shortfall in production revenue in the first half,” Ricoh reported to investors.

That means that the stronger financial performance of the 3rd quarter and projected for the 4th quarter will not be enough to make up for the weak results of the first two quarters.

The overall Ricoh conglomerate has struggled with weak sales of office machines and services since the much of the workforce stopped going to the office during the pandemic. And while the pandemic is over, the workforce has not returned to the office; occupancy remains considerably below pre-pandemic levels.

But for the last two years Ricoh has consistently pointed to camera sales as a bright spot for growth and profitability. When Ricoh reported its results for Fiscal 2023, which ended March 31, 2023, the company said annual operating profits soared 97 percent, in part driven by “ongoing profitability of camera business.” The company singled out cameras as a fiscal bright spot in the Other category. (Ricoh does not break out camera sales.)

The category “significantly increased revenues and earnings from PFU consolidation and ongoing profitability of camera business. (In 2022 Ricoh acquired PFU Limited, a consolidated subsidiary of Fujitsu Limited that specialized in document scanning.)

Ricoh has continued to single out camera sales revenue and profitability growth in reports to investors, with the Feb. 6 report that “The camera business remained strong and sales increased” being the latest.

It’s important to remember that Ricoh is issuing that number as guidance to investors. Companies tend to be very conservative about such guidance because they can be criminally prosecuted and sued if they are wrong. For example, the US Securities and Exchange Commission went after Elon Musk and investors filed a class action suit after his 2028 tweet that he had “secured funding” for his Tesla electric car company.

2023 was a very good year for Pentax and Pentaxians

And a great year for Pentax Forums!

By cjfeola in Photo Industry News on Feb 4, 2024

For Ricoh Imaging and Pentax, 2023 was a very good year. And that made it a very good year for Pentaxians and Pentax Forums.

Parent Ricoh Company repeatedly cited the Ricoh Imaging division’s camera business as a profitability bright spot in an otherwise tough time for the office products and imaging giant. The shock spring release of the Pentax K-3 III Monochrome generated an avalanche of press and the better part of a year of back-orders, capped off by the Monochrome being selected as Japan Historical Camera of 2023 by the Japan Camera Foundation.

Pentax K-3 III Monochrome

The Ricoh GRIII, meanwhile, also managed to sell as fast as Ricoh Imaging could make them. Indeed, when Japan’s giant Yodobashi Camera Store — similar to B&H Foto & Electronics and Adorama in the United States – listed its Top 10 Best Selling Compact Cameras last month, the Ricoh GRIIIx Urban Edition was number 9, the Ricoh GRIII was number 6, and the Ricoh GRIIIx was number 1. And on fellow Japanese giant Mapcamera's December best sellers list, the GR IIIx was third, behind the Sony a7c II and the Nikon Zf. 

Besides the Monochrome, Ricoh Imaging/Pentax introduced the Pentax-FA 50mm F1.4 Classic, the HD Pentax-FA 50mm F1.4, the K-3 III Monochrome Matte Black Edition and the GR III Diary Edition. They also became the official US Kenko distributor, announced the Pentax WG-90 tough compact camera would ship in 2024, and gave more details on the Pentax Film Project. And the company kicked off 2024 with the unveiling of the finished Pentax Film Project prototype, announcing that they intended to have it on sale soon.

Ricoh Dethrones Canon as the Copier King

Toshiba merger makes Ricoh the world #1 for office machines

By cjfeola in Photo Industry News on May 30, 2023

Ricoh is merging its printer and copier manufacturing with Toshiba, creating the world’s largest office equipment manufacturer on a shipment basis. Currently Ricoh is number two behind Canon, with Toshiba checking in with seventh place. Ricoh holds 85 percent of the investment into the new venture, with Toshiba holding the remaining 15 percent. Both companies will maintain their own sales and marketing branding, staffs and sales channels.

Ricoh said in a news release that the move was driven by continuing weakness in the office equipment market.  “Although the office printing market is recovering from the sharp decline in printing volume caused by the spread of the COVID-19 pandemic, the pre-existing and ongoing trend toward a paperless transition continues. The global market as a whole will continue on a gradual downward trend.”

The partners also cited the need to stabilize supply chains because of ongoing geopolitical risks.

Ricoh Office Equipment

Ricoh said the market is moving to digital solutions that combine hardware and software into unified office solutions. “Against the backdrop of expanding remote work and a worsening labor shortage due to Japan’s shrinking workforce, the need for digitalization of various operations in offices and in the frontlines has become apparent.”

Pentax Film Project: Lost Engineering Being Reborn

New Details Released on the Pentax Film Project

By cjfeola in Photo Industry News on May 22, 2023

Pentax is developing a compact, fixed lens 35mm camera with an “old-style, SLR-type hand-wound mechanism” to wind the film, according to Takeo “TKO” Suzuki, the product planner and designer for the Pentax Film Project.

TKO described the progress and struggles with the new camera in Film Project Story No. 2, released May 11. But first he said he, his team and Pentax have been overwhelmed by a world-wide outpouring of support for the Film Project.

“Since this project was first announced, a number of corporations, individuals and photographers have voiced their eagerness to work with us. There are many, many people out there who value the film photography culture, and are willing to work for it. These are the people who have offered their assistance to us. I was very surprised and delighted – I actually shed a few tears of joy!

“What we found out was that we weren’t alone and that we had partners in our mission. It was a great encouragement to us. We received many comments from them, including a wish for the development of a successor to the Pentax LX and a hope for the revival of the Pentax 67, and a desire for a fully mechanical SLR camera.  I’d love to have such cameras, too!”

So would we! In fact, in last month’s Pentax Forum article "Bring Back the Beast" we called for new versions of the K1000 and 6x7. We would definitely take a LX, though.

Ricoh announces 97% profit increase for Fiscal Year 2022

Camera sales singled out as bright spot

By cjfeola in Photo Industry News on May 12, 2023

Ricoh’s annual operating profits soared 97 percent, in part driven by “ongoing profitability of camera business.” The company singled out cameras as a fiscal bright spot in the Other category. (Ricoh does not break out camera sales.)

The category “significantly increased revenues and earnings from PFU consolidation and ongoing profitability of camera business. (In 2022 Ricoh acquired PFU Limited, a consolidated subsidiary of Fujitsu Limited that specialized in document scanning.)

Other sales rocketed from 35.5 billion yen in Fiscal 2021 to 123 billion yen in 2022, an increase of 246 percent.  Ricoh is projecting 173 billion yen in sales for the category for Fiscal 2023. That’s an additional 40 percent jump in sales in one year for the category that includes cameras on top of 2022’s strong growth.

It’s important to remember that Ricoh is issuing that number as guidance to investors. Companies tend to be very conservative about such guidance because they can be criminally prosecuted and sued if they are wrong. For example, the US Securities and Exchange Commission went after Elon Musk and investors filed a class action suit after his 2018 tweet that he had “secured funding” for his Tesla electric car company.

Sort: Newest | Most Views | Most Comments Showing articles 1 - 5 of 54 | Last Page


facebook.com/PentaxForums PentaxForums @PentaxForums News | Reviews | Forum

Support Pentax Forums Donate to Pentax Forums Support Pentax Forums