Originally posted by Kunzite Mistral:
It's Pentax Ricoh Imaging Company, not "Ricoh cameras".
Nope, I'm not contradicting anything I said (while sober, not tired, not in a hurry, while not being distracted by anything etc
).
I will imagine your math is off. Pentax was not "available" (part of "Other") in the entire FY2012, but only the last 2 quarters. We have 2 quarters in FY2013 where all Pentax sales were "growth".
If Pentax were 50% of "Other", i.e. they would sell as much as every other "Other" business, they would get only from those 2 quarters a 50% growth; 100% for the 2 quarters, spread for the entire year. If they were one third, that means 1:2 ratio, i.e. 50% for the 2 quarters, spread to an yearly 20%. Just from being there.
So they're not even one sixth of "Other". Am I right?
You are totally right. I don't know why, I assumed that Ricoh took Pentax over on October 1st, 2010 and not, as it stands, on October 1st, 2011, half way in FY2012
. My bad.
So, if the JPY 11.7bn increase in sales in the "Other" segment comes from the consolidation of Pentax sales during a whole year instead of half a year, it gives JPY 11.7 x 2 = 23.4bn for said sales over the entire FY2013. A bit more by the way since there is some seasonality: the sales during the busy Christmas period were already consolidated in FY2012 so the "missing half" is smaller than the other one.
Nevertheless these JPY 25-30bn Pentax sales seem low.
I copy here the calculation I made a few messages above:
Originally posted by Mistral75 (...)
CIPA figures for April 1st, 2012 - March 30th, 2013 are:
- 15,414,830 DSLRs shipped generating sales for OEMs of JPY 603bn (==> average unit price is JPY 40,000 i.e. USD 400)
- 22,322,208 "Lenses for smaller than 35mm format Cameras" shipped generating sales for OEMs of JPY 272bn.
Applying a 4.5% ratio to the former and a 3% ratio to the latter (to take out Sigma and Tamron lenses in K mount), I find potential sales of Pentax DSLRs and lenses of JPY 37bn (circa USD 400m) i.e. 25 per cent. of net sales in the Other segment.
(...)
In doing so, I do not take into account the following Pentax sales:
- 645, FA and D-FA lenses
- Q/Q10 bodies
- Compact cameras
- Accessories (including flashguns)
- Maintenance and repairs
nor do I, of course, take into account, the sales of Ricoh branded products and services.
The mystery therefore remains and I am eventually inclined to agree with
falconeye's conclusion:
Originally posted by falconeye (...)
My conclusion:
Since the aquisition of Pentax by Ricoh, we don't have any way anymore to get hold of Pentax business data by looking into investment documentation.