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Ricoh Repeats 137 Bln Yen Profit Forecast in 2 Years
March 06 — Ricoh Co., the world’s third-largest copier maker, reiterated profit will rise about 41 percent in the next two years to 137 billion yen ($1.2 billion), helped by sales of color models.
The net income forecast for the fiscal year ending March 2008 compares with a 97 billion yen estimate for this business year, and a 83.1 billion yen profit reported a year earlier. The Tokyo-based company made the forecast as part of its mid-term plan today.
Ricoh, set for a 12th year of sales growth, is trying to introduce more profitable color models to combat increased competition from rivals such as Canon Inc. and Xerox Corp. The company is spending more to develop more models that copy, fax and scan to spur demand of consumables such as paper and toner.
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