Ricoh Reveals Net Loss For Fiscal Year
Printer company Ricoh has revealed that it fell into a net loss for the last fiscal year, marking the first time it has happened since the company was listed.
The combined effects of the disasters in Japan and Thailand were cited as reasons for it, with the ink company recording a net loss of 44.6 billion yen (£340 million), compared to a profit of 19.6 billion yen in the previous year, reports MarketWatch.
Ricoh has confirmed that, in an effort to improve sales, it will spend 11 billion yen to improve its printer toner production capacity at one of the plants of its subsidiaries in Miyagi Prefecture, Japan.
It is expected that this new production stream will launch in June next year.
This news comes after HP signed a deal to launch a new manufacturing facility in Chongqing, China.
The factory aims to produce 60 million inkjet and laser printers every year, following three building stages, which are expected to be completed in two to three years.
Posted by Canzil Ahmed.