Ricoh <7752.T> expects record 03/04 profit-paper
Reuters, 02.18.03, 7:04 PM ET
TOKYO, Feb 19 (Reuters) - Leading Japanese office equipment maker Ricoh Co Ltd expects a record group operating profit again in the next business year, exceeding this year's 138 billion yen ($1.15 billion) estimate, President Masamitsu Sakurai told the Nikkei Financial Daily in an interview published on Wednesday.
"Under our mid-term business plan announced last March, we forecast group operating profit to rise to 180 billion yen in 2004/05. Our forecast for this year is 138 billion yen and we expect next year to fall in between those levels," Sakurai said.
"Those estimates are based on conservative estimates for the business environment, so I think those targets are very achievable."
Ricoh and rival Canon Inc <7751.T> continue to set record profits, defying sluggishness in the global electronics industry with their digital cameras, copiers and colour printers.
Ricoh also raised its dividend estimate by one yen to 14 yen for the current business year to March.
"In the last few years, we have raised our dividends little by little as our earnings have grown," Sakurai told the Nikkei Financial. "Of course, we would have to consider such action for next year."
Shares in Ricoh fell almost one percent on Tuesday, in line with a 0.9 percent decline in the Nikkei 225 average. The shares have fallen six percent since the end of December.
($1=120.32 Yen)
Copyright 2003, Reuters News Service
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