Results Briefing for the Fiscal Year Ended March 2011 April 26, 2011 Ricoh Leasing Company, Ltd.
Contents Contents 1. Performance Overview (Fiscal year ended March 2011) P. 3 • Consolidated Results .7 • Transaction Volume by Business .9 • Balance of Operating Assets and Default Rate .10 • Selling, General & Administrative (SG&A) Expenses .11 • Financial Position 2. Medium-term Management Strategy (FY2011 to FY2013) • Our Goal P.13 • Basic Policy and Key Strategies .14 • Sales Strategy for Priority Areas .15 • Goals for Financial Results and Target Management .18 Indicators • Transaction Volume Target .19 3. Forecasts (Fiscal year ending March 2012) • Consolidated Income Forecast P. 21 • Transaction Volume Plan .23 1 1
1. Performance Overview (Fiscal year ended March 2011)
Consolidated Results Consolidated Results Consolidated Results Performance Overview (100 million yen, %) 10/3 11/3 Forecasts at Change Actual Initial forecast Actual 2Q (%) Revenue 2,285 2,240 2,280 2,297 0.5 Gross profit 280 280 290 299 6.9 Selling, general and 164 160 145 176 7.3 administrative expenses Operating income 115 120 145 122 6.4 Income before special 113 117 143 121 7.5 items Net income 66 68 81 70 5.5 (Yen, %) YoY EPS 213.17 219.43 259.79 224.92 11.75 Dividends 38.00 38.00 38.00 39.00 1.00 3 3
Impact of Great East Japan Earthquake and Tsunami Impact of Great East Japan Earthquake and Tsunami Impact of Great East Japan Earthquake and Tsunami Performance Overview 1. Employees of Ricoh 1. Employees of Ricoh Leasing Leasing Group Group ・ There have been no human casualties. ・ There have been no human casualties. 2. Damage to offices 2. Damage to offices ・ No offices suffered material damage. ・ No offices suffered material damage. Currently, all of our offices located in affected areas including Sendai, Morioka, Koriyama, Currently, all of our offices located in affected areas including Sendai, Morioka, Koriyama, and Mito are operating as usual. and Mito are operating as usual. 3. Allowance for doubtful accounts 3. Allowance for doubtful accounts ・ Allowance for doubtful accounts related to Great East Japan Eart ・ Allowance for doubtful accounts related to Great East Japan Earthquake hquake and Tsunami: 3 billion yen and Tsunami: 3 billion yen 4. Measures for reconstruction assistance 4. Measures for reconstruction assistance ・ Provide leases and loans for reconstruction assistance leases and loans for reconstruction assistance ・ Based on a request by Ministry of Economy, Trade and Industry, ・ Based on a request by Ministry of Economy, Trade and Industry, take flexible measures including an extension of lease payments take flexible measures including an extension of lease payments to local SMEs to local SMEs located in affected areas located in affected areas ・ Provide monetary donations for reconstruction assistance ・ Provide monetary donations for reconstruction assistance ・ Donate office and IT ・ Donate office and IT- -related equipment related equipment 4 4
Factors Affecting Operating Income Factors Affecting Operating Income Performance Overview Items of Gross Profit Items of Gross Profit Items of SG & A Expenses Items of SG & A Expenses (100 million yen) Increase of expenses Increase in bad debt ▲ 8 expenses default rate +8 +2 ▲ 4 Decrease in financing cost 122 +7 ＋ 7 Improvement of gross margin on +2 commission income 115 Increase in re- releasing (replacement) Change in lease accounting standards 10/3 11/3 Actual Actual 5 5
Breakdown of Revenue Breakdown of Revenue Breakdown of Revenue Performance Overview (100 million yen, %) 10/3 11/3 Actual Actual YoY 1,950 1,921 -1.5 Leasing revenue 104 137 31.7 Installment revenue 20 19 -0.9 Revenue from loans 24 27 12.4 Received commission 186 191 2.5 Other revenue 2,285 2,297 0.5 Total revenue 6 6
Transaction Volume by Business Transaction Volume by Business Performance Overview (100 million yen, %) 10/3 11/3 Actual Actual YoY 2,055 2,021 -1.6 Finance leases 65 81 24.6 Operating leases 146 218 49.2 Installments 2,267 2,322 2.4 Lease/installment business 153 153 0.2 Financial services business 2,421 2,476 2.3 Total transaction volume *The above transaction volume is based on acceptance inspections *The above transaction volume is based on acceptance inspections 7 7
Lease/Installments Business - Transaction Volume by Business Performance Overview Lease/Installments Business - Transaction Volume by Business (100 million yen, %) Japan Leasing 10/3 11/3 Association Accumulated in 10/4 to 11/2 Actual Actual YoY YoY Office and IT-related 1,586 1,602 1.0 - 2.5 equipment Medical equipment 352 335 - 5.0 - 2.3 Industrial machinery 105 90 - 13.7 - 20.6 Commercial and service 102 129 26.2 - 6.7 industry equipment Vehicles and transport 4.4 43 60 38.3 equipment - 16.9 Others 77 104 35.1 Total transaction volume 2,267 2,322 2.4 - 6.9 8 8
Balance of Operating Assets and Default Rate Balance of Operating Assets and Default Rate Performance Overview Default rate = Default loss amount / Average balance of trade assets Default rate 0.71 0.71 0.65 0.65 0.52 0.52 (100 million yen) 0.47 0.47 0.43 0.43 5,937 6,000 5,937 5,843 5,843 5,774 5,774 5,739 5,694 5,739 5,694 668 668 661 661 686 686 744 744 776 776 Loans 354 354 339 339 5,000 327 327 89 89 101 359 412 101 359 412 135 135 Installments 83 84 83 84 4,000 Operating leases 4,552 4,420 4,552 4,420 4,625 4,824 4,740 4,625 4,824 4,740 (250) (250) (239) (239) Finance leases (247) (247) 3,000 (of which, securitized portion) ～ ～ ～ ～ 0 07/3 08/3 09/3 10/3 11/3 * Figures show balances with securitized portions not deducted. 9 9
Selling, General & Administrative (SG&A) Expenses Selling, General & Administrative (SG&A) Expenses Selling, General & Administrative (SG&A) Expenses Performance Overview (100 million yen) 105 100 85 85 79 42 80 71 68 29 30 22 Allowance for 8 14 bad debt 60 Personnel 31 30 29 29 29 28 expenses 40 20 Other 28 32 27 27 27 26 revenue 0 1H of 09 2H of 09 1H of 08 2H of 08 1H of 10 2H of 10 10 10
Financial Position Financial Position Financial Position Performance Overview Rating Position Fixed-charge coverage ratio 52.6 51.3 52.6 51.3 48.2 50.6 50.6 A+ S&P 40.6 A+ R&I (100 million yen) AA- JCR 5,485 5,375 5,544 5,091 4,912 5,000 Total procurement amount Short term borrowings (100 million yen) 45 45 44 44 3,000 45 45 39 39 31 31 Long term debt 27 27 30 30 Financing cost 15 15 1,000 0 07/3 09/3 10/3 11/3 08/3 * Interest-bearing debt shows balance with debts payable due to securitization not deducted. Capital costs show expenses included in gross profit on sales. 11 11
2. Medium-term Management Strategy ( FY2011 to FY2013)
Our Goals Our Goals Our Goals Medium-term Management Strategy Financial Service Company with Sustainable Profit Growth Financial Service Company with Sustainable Profit Growth 1. Company that is trusted by customers and has earned their loyalty 2. Employees have aspirations for the future and work hard 3. To be admired as a corporate citizen and lead the industry through environmental management activities 4. Live up to shareholders’ expectations with outstanding financial results Customer value Pursue enhanced Pursue enhanced corporate value corporate value Shareholder Corporate Employee value value value Harmony with society 13 13
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