Ricoh slashes it’s net income 55%

October 31, 2011

Bloomberg reports:

“The following companies may have unusual price changes in Japanese trading on October 31. Stock symbols are in parentheses, and share prices are as of the latest close. The information in each item was released after markets shut unless stated otherwise. ….

Ricoh Co. (7752 JT): The office-equipment and camera maker slashed its full-year net income outlook 55 percent to 10 billion yen, citing costs from the company reorganization, earthquake and foreign exchange. The stock sank 1.7 percent to 681 yen. “

I heard late last week that Ricoh would be making some big announcements this week. Based on this information, which according to Bloomberg they posted after close of market on Friday,  it seems logical that a reorganization, and realignment of Ricoh \ Ikon will likely be the “announcement”.

That’s my $0.02
Vince McHugh


One comment

  1. The next round of Ricoh Layoffs have begun.
    The word is on the street that Ricoh is cutting 220 Director level positions or above this week. I am also hearing that the final merger of Ricoh & Ikon will be completed by the first of the year. So this is not likely the end of the layoffs at Ricoh.

    It is unfortunate that a fair number of talented people will be out of work in this economy, and right before the holidays. But the good news is talented people will always find a place to work.

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