Ricoh Suffers Impairment Blow from North American Business

Posted Date 02/27/18

Ricoh is mulling over booking an impairment charge of more than $900 million from its North American operations for the current financial year. The charge, related to the underperformance of the regional business, includes the results of Ikon Office Solutions, an American distribution company that Ricoh acquired a decade ago for $1.6 billion.

The performance of the North American operations of Ricoh has been negatively affected by the accelerating shift from paper to digital in the local business community, which has dampened demand for printers and copiers significantly. The trend is not just regional, either. Over the last nine years, global shipments of printers, copiers, and multifunctionals, has shrunk by 26%.

An impairment charge of that size would likely sink Ricoh into the red for the full financial year. Currently, without it, the Japanese company will barely break even on a net basis.

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