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10-30-2015, 02:50 AM - 1 Like   #1
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Financial result Ricoh

New figures are publishes for the half year result of Ricoh. In it also some figures for the camera division.

https://www.ricoh.com/IR/

This sheet shows some of it.
https://www.ricoh.com/IR/financial_data/financial_result/data/28/q2_report.pdf

It isn't easy to see how the camera's do, since they are part of the "other" also contains g some other activity's. It looks like the fall in sales is around -20 % And that is big. Over the half year the result is less down then the last three months, so sales are declining faster.

Maybe someone can dive into this.

My explanation to this growing declining is that the sales are lowering over time since the full-frame was anounced and that push g the inventory into the sales channels is slowing down rapidly. This will probably be so until the full frame arrives in spring.

10-30-2015, 03:00 AM   #2
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We should be very careful, because Ricoh Imaging is just a small part of Other. We can find more about it in comments, than by just looking at the numbers.
"Sales in the Other segment decreased by 11.4% as compared to the previous corresponding period, to 53.7 billion due to sale of clothing business and so on. As a result of increased lease profit and so on, operating profit in the Other segment increased significantly as compared to the previous corresponding period, to 1.3 billion."
Ricoh continues restructuring the Other segment by selling under-performing business (previously, it was the San-Ai logistics IIRC). While sales are obviously declining - because the businesses sold no longer sell anything - profitability improved. And I bet Ricoh Imaging is contributing to that profitability.
10-30-2015, 03:04 AM   #3
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Wait. There's a note saying that revenues dropped in the 'Other' category because they got rid of their clothing business. Yet the profit went up.
10-30-2015, 03:05 AM   #4
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In one of the other presentations they only name Ricoh wg-40 and Ricoh Theta. No Pentax in the report. For the Ricoh report the 645Z is not important, compared to the WG-series!


I know it is difficult to see what Happens. Overal in others the oversea's activity's are probably just camera related.

We can see some direction when market shares from bcn or cipa would be available. You can then crosslink information.


Last edited by RonHendriks1966; 10-30-2015 at 07:10 AM.
10-30-2015, 03:39 AM   #5
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Unfortunately I can't see the updated Ricoh IR page - some cache which wasn't updated. I would appreciate if you post direct links to the documents.
The 645Z was mentioned in the previous report, and the Theta S and WG-40 are new products - perhaps that's it?
10-30-2015, 04:19 AM   #6
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Camera sales are dropping - check out Canon's results
Canon's Q3 financial results show increased profit, decline in ILC sales volume: Digital Photography Review
Nikon reports is worse for profit - disproves the old adage lose mony on an individual sale but make it up with volume.
http://nikonrumors.com/2015/05/14/nikons-2015-financial-results-are-out-sale...-down-12.aspx/
10-30-2015, 06:15 AM   #7
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QuoteOriginally posted by clackers Quote
Wait. There's a note saying that revenues dropped in the 'Other' category because they got rid of their clothing business. Yet the profit went up.
Yes, and this is the important line: the "Other" division is making more money than they were. Which is good news, and simply means that the clothing business was dragging down the whole division. They were selling a lot of clothes, but at a loss... It's certainly better to sell less things but make money on them than selling a lot and be in the red.

---------- Post added 10-30-15 at 09:20 AM ----------

QuoteOriginally posted by RockvilleBob Quote
Camera sales are dropping - check out Canon's results
Canon's Q3 financial results show increased profit, decline in ILC sales volume: Digital Photography Review
Nikon reports is worse for profit - disproves the old adage lose mony on an individual sale but make it up with volume.
Nikon's 2015 financial results are out: sales down 15%, income down 12% | Nikon Rumors
Yes, but this simply means they sell less compacts but do better at more profitable things (aka FF). Or, in other words, it's not really a problem for them if for each 2-3 Powershots they lose they sell an additional 6D-5D.
10-30-2015, 06:22 AM   #8
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Not a problem. as long as the Pentax ff is not released, there is still the promise from management about a future turnaround of Ricoh camera business. However, after a year or two with the Pentax ff released, if it does not sell well, Ricoh hq might decide to get rid of that activity or continue to invest. Ricoh still have the full frame option, while Canon and Nikon already have the full frame so for them the only product line they can expand is in the mirrorless.

10-30-2015, 06:29 AM   #9
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QuoteOriginally posted by CarlJF Quote
Yes, but this simply means they sell less compacts but do better at more profitable things (aka FF). Or, in other words, it's not really a problem for them if for each 2-3 Powershots they lose they sell an additional 6D-5D.
Or perhaps it is the other way around?
10-30-2015, 06:42 AM   #10
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QuoteOriginally posted by RockvilleBob Quote
Or perhaps it is the other way around?
Maybe, but it's not what they write in their report:
QuoteQuote:
...although total sales volume of interchangeable-lens digital cameras
declined due to market shrinkage, sales of interchangeable-lens digital cameras increased from the same
period of the previous year in Japan and Europe owing to healthy demand for such new models as the EOS
5DS, EOS 5DS R, EOS Rebel T6i/EOS 750D, EOS Rebel T6s/EOS 760D and EOS M3. As for digital
compact cameras, while sales volume declined amid the ongoing contraction of the market due to the effects
of the growing popularity of smartphones...
For me, it sounds like they're happy with their DSLR sales but that low-end compacts are going bad. Which shouldn't be a surprise to anyone...
10-30-2015, 06:43 AM   #11
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QuoteOriginally posted by biz-engineer Quote
Not a problem. as long as the Pentax ff is not released, there is still the promise from management about a future turnaround of Ricoh camera business.
I think the turnaround already happened.
10-30-2015, 06:49 AM   #12
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I really can't wait to read how some of these members respond to unequivocal success.
10-30-2015, 06:54 AM   #13
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A significant way to increase sales of photo equipment is to offer new/innovative/updated products attractive those already committed to the brand. The more new products, upgraded products available, the more brand owners will be tempted to purchase. The K3 II was not a sufficient improvement over the K3 to temp me for a moment, but a FF certainly would, which might bring along temptation for new normal & WA lenses.

Last edited by WPRESTO; 10-30-2015 at 07:01 AM.
10-30-2015, 07:36 AM   #14
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The k3ii had issues out the gate probably removing it from any contribution to sales. They are selling lenses, and manufacturing refreshes of some other things. I suspect they knew this was going to happen except the k3ii, knowing that their engineering and production resources would be consumed by the FF.

The K3ii issue was serious. The initial sales buzz is gone, it takes months if ever to recover. It delayed the full frame release, and probably sent a shudder through the whole chain. Take another bit of time, get it right. Rework your manufacturing qc. It is a brutal market right now lots of competition chasing smaller numbers. Mistakes can be fatal. I doubt that they are wasting their time. There are always little things that get put on the back burner in the push to get it out the door.
10-30-2015, 07:54 AM   #15
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As a few people have said, this seems to imply that the cameras are the part of "other" that was making money.

Actually, I think Ricoh would have s few things to smile about in the financial news recently.
- Both Canon and Nikon are struggling to sell the cameras they overproduce. At some point they are going to have to go through the painful process of downsizing their operations to the new size of the market.
- Sony is doing well, but they just separated their sensor business, which could put Ricoh in a better position as a customer. It also looks like A-mount is on it's way out. That will make Pentax the next mount for third-party lens makers like Sigma to produce after Nikon and Canon.

I look forward to finally reading a post from Thom Hogan where Pentax is taken seriously as a contender, rather than just being the punchline. Also I hope to see Ricoh make a line of photo printers that actually seem like helpful tools, rather than a deceitful ink-pushing scam. That would really put Canon under pressure, and it seems like a natural think for Ricoh to do.
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