Securities Reports updated

Ricoh Company, Ltd.

Condensed Consolidated Financial Statements for the Half Year Ended September 30, 2021

This is an English translation of the Quarterly Securities Report (Shihanki Hokokusho) for the half year ended September 30, 2021 pursuant to the Japanese Financial Instrument and Exchange Law.

Condensed Consolidated Statement of Financial Position

Ricoh Company, Ltd. and its Consolidated Subsidiaries

	Millions of Yen
	As of	As of
ASSETS	March 31, 2021	September 30, 2021
Current assets:
Cash and cash equivalents (Note 6)	334,810	275,814
Time deposits (Note 6)	238	270
Trade and other receivables	392,132	342,744
Other financial assets	92,823	89,893
Inventories	192,016	206,564
Other current assets	46,725	49,525
Subtotal	1,058,744	964,810
Assets classified as held for sale (Note 7)	-	1,162
Total current assets	1,058,744	965,972
Non-current assets:
Property, plant and equipment	191,963	183,234
Right-of-use assets	63,653	56,471
Goodwill and intangible assets	225,510	233,358
Other financial assets	136,093	125,823
Investments accounted for using the equity method (Note 13)	79,504	82,736
Other investments	18,504	17,852
Other non-current assets	29,773	28,623
Deferred tax assets	84,124	86,762
Total non-current assets	829,124	814,859
Total assets	1,887,868	1,780,831

1

	Millions of Yen
	As of	As of
LIABILITIES AND EQUITY	March 31, 2021	September 30, 2021
Current liabilities:
Bonds and borrowings (Note 8)	82,731	115,210
Trade and other payables	287,160	240,024
Lease liabilities	25,475	22,691
Other financial liabilities	1,669	590
Income tax payables	7,213	8,295
Provisions	12,946	11,311
Other current liabilities	240,322	236,149
Total current liabilities	657,516	634,270
Non-current liabilities:
Bonds and borrowings (Note 8)	139,676	119,867
Lease liabilities	46,737	43,926
Accrued pension and retirement benefits	70,463	62,302
Provisions	11,413	9,262
Other non-current liabilities	34,469	35,640
Deferred tax liabilities	3,742	3,363
Total non-current liabilities	306,500	274,360
Total liabilities	964,016	908,630
Equity:
Common stock	135,364	135,364
Additional paid-in capital	186,231	186,177
Treasury stock (Note 9)	(45,024)	(105,321)
Other components of equity	82,097	84,628
Retained earnings	561,578	567,669
Equity attributable to owners of the parent	920,246	868,517
Non-controlling interests	3,606	3,684
Total equity	923,852	872,201
Total liabilities and equity	1,887,868	1,780,831

The accompanying notes are an integral part of these condensed consolidated financial statements.

2

Condensed Consolidated Statement of Profit or Loss

Ricoh Company, Ltd. and its Consolidated Subsidiaries

Half year ended September 30, 2020 and 2021

	Millions of Yen
	Half year ended	Half year ended
	September 30, 2020	September 30, 2021
Sales (Note 4,5)	761,948	843,463
Cost of sales	499,531	538,505
Gross profit	262,417	304,958
Selling, general and administrative expenses (Note 12,13)	295,212	297,024
Other income *	2,177	5,166
Operating profit (loss)	(30,618)	13,100
Finance income	1,524	983
Finance costs	2,268	1,838
Share of profit (loss) of investments accounted for using the	1,854	3,729
equity method
Profit (loss) before income tax expenses	(29,508)	15,974
Income tax expenses	(7,327)	4,712
Profit (loss) for the period	(22,181)	11,262
Profit (loss) attributable to:
Owners of the parent	(22,195)	11,157
Non-controlling interests	14	105
	Yen
	Half year ended	Half year ended
	September 30, 2020	September 30, 2021
Earnings per share attributable to owners of the parent:
(Note 14)
Basic	(30.64)	16.07
Diluted	(30.64)	16.06

The accompanying notes are an integral part of these condensed consolidated financial statements. * Gain on sales of property, plant and equipment and others were included in "Other income."

3

Three months ended September 30, 2020 and 2021

	Millions of Yen
	Three months ended	Three months ended
	September 30, 2020	September 30, 2021
Sales (Note 4,5)	409,623	418,659
Cost of sales	269,279	266,064
Gross profit	140,344	152,595
Selling, general and administrative expenses (Note 12)	150,294	146,680
Other income *	604	1,519
Operating profit (loss)	(9,346)	7,434
Finance income	2,045	411
Finance costs	959	1,455
Share of profit (loss) of investments accounted for using the	1,364	1,902
equity method
Profit (loss) before income tax expenses	(6,896)	8,292
Income tax expenses	(3,378)	1,866
Profit (loss) for the period	(3,518)	6,426
Profit (loss) attributable to:
Owners of the parent	(3,536)	6,370
Non-controlling interests	18	56
	Yen
	Three months ended	Three months ended
	September 30, 2020	September 30, 2021
Earnings per share attributable to owners of the parent:
(Note 14)
Basic	(4.88)	9.34
Diluted	(4.88)	9.34

The accompanying notes are an integral part of these condensed consolidated financial statements.

• Gain on sales of property, plant and equipment and others were included in "Other income."

4