- Ricoh Leasing reported financial results for the second quarter of FY2017, with net sales up 6.3% and net income up 9.6% year-on-year. Operating income increased 5.3% due to higher gross margins and financial income, despite an increase in allowance for doubtful accounts. - For the full FY2017 forecast, the company expects net sales to rise 3.3% with net income growth of 4.1%. While transaction volumes are projected to increase for most products and services, overall growth is seen slowing from the medium-term targets. - Key factors influencing the financial outlook include a deteriorating business environment amid slowing corporate earnings, as well as decreases in lease renewals

1. Second Quarter of
Fiscal Year Ending March 2017
Briefing on Financial Results
0
October 21, 2016
Ricoh Leasing Company, Ltd.

2. 1
1. Performance Overview
(Second Quarter of Fiscal Year Ending
March, 2017)

3. 実績報告
2
15/9 16/9
Actual Actual Growth Rate
Net sales 1,363 1,448 6.3
Gross profit 150 156 4.0
SGA expenses 67 68 2.3
Operating income 83 88 5.3
(Operating income ratio) 6.1 6.1 0.0
Ordinary income 82 87 5.5
Net income 54 60 9.6
(Net income ratio) 4.0 4.2 0.2
Year-on-year change in yen
Net income per share 175.99 192.93 16.94
Dividend per share 27.50 30.00 2.50
Consolidated Results
(100 millions of yen, %)
In this document, “Profit attributable to owners of parent” is presented as “Net income.”
Performance Overview

4. 実績報告
3
Factors Affecting Operating Income
(100 millions
of yen)
8,300
million
yen
16/9Actual
8,800
million
yen
15/9Actual
500 million
yen
Gross profit calculation SGA expenses
+2
Increase in
financial
income
Expenses
(1)
Decrease in
financing cost
±0
Increase in gross
margin for the
lease/installment
business
Increase in Allowance
for doubtful accounts
+3
+1
Performance Overview

5. 実績報告
4
Transaction Volume by Business
(100 millions of yen, %)
*Transaction volumes are calculated on an inspection basis.
15/9 16/9
Actual Actual Growth Rate
Finance lease 1,360 1,304 (4.1)
Operating lease 69 53 (21.9)
Installment sales 257 293 13.9
Leasing/installment sales
business
1,687 1,652 (2.1)
Financial services business 139 172 24.2
Total transaction volume 1,826 1,825 (0.1)
Performance Overview

6. 実績報告
5
(100 millions of yen, %)
15/9 16/9
Japan Leasing
Association
*Cumulative total
from April to August
Actual Actual Growth Rate Growth Rate
Office and IT-related
equipment
921 894 (2.9) (7.1)
Medical equipment 218 216 (1.0) 7.0
Industrial machinery 167 161 (3.9) 5.4
Commercial and service
industry equipment
159 147 (7.8) 2.5
Vehicles and
transportation equipment
73 80 8.8 3.5
Others 146 153 4.7 13.8
Total transaction volume 1,687 1,652 (2.1) 1.1
Performance Overview
Transaction Volume by Product:
Leasing/Installment sales business

7. 実績報告
6
Operating Results by Segment (Lease/Installment business)
(100 millions of yen)
Net sales (left bar) Segment income (right bar)
1,141
1,173
1,246
1,320
1,402
78
70 71 71
74
0
50
100
150
0
500
1,000
1,500
12/9 13/9 14/9 15/9 16/9
Performance Overview

8. 実績報告
7
(100 millions of yen)
% of
operating
income
13.8% 16.3% 16.9% 19.2% 18.9%
24.9
27.4
29.8
32.8
35.0
11.9
13.0 13.9
16.0 16.6
0
10
20
30
40
12/9 13/9 14/9 15/9 16/9
Medium-term management strategy target: Increase the profit
contribution ratio of the financial services business to 20%.
Net sales Segment income
Performance OverviewOperating Results by Segment (Financial Services Business)

9. 実績報告
8
Product sites of the
collection agency service
Care Concierge
Number of monthly transaction cases of
collection agency services
Factoring services for nursing-care
benefits - Annual transaction volume
(Unit: 10,000)
(100 millions
of yen)
90
198
326
471
0
100
200
300
400
500
600
13/3 14/3 15/3 16/3 16/9
291
600
92
106
128
137 144
0
50
100
150
200
13/3 14/3 15/3 16/3 16/9
170
Target for the
final year (year
ending March 31,
2017) of
medium-term
management
strategy
Target for the final year
(year ending March 31,
2017) of medium-term
management strategy
Performance Overview
Financial Services Business Collection agency services and factoring
services for nursing-care facilities

10. 実績報告
9
Balance of Operating Assets and Default Rate
Finance
lease
(securitized
portion)
Operating
loans
Installment
sales
Operating
lease
*Balances shown include securitized portions.
Default rate = Default loss amount / Average balance of operating assets
Default
rate (%)
(100 millions
of yen)
5,185
(246)
5,327
(246)
5,451
(246)
5,517
(247)
5,564
(247)
149 158 178 187 187644
725
781 837 873
1,099
1,142
1,222 1,231 1,261
4,000
5,000
6,000
7,000
8,000
14/9 15/3 15/9 16/3 16/9
0.19 0.18 0.18 0.18 0.17
7,079
7,354
7,633 7,773 7,887
Performance Overview

11. 実績報告
10
Total Procurement Amount and Capital Cost
[External ratings]
S&P A-
R&I A+
JCR AA-
Fixed charge coverage ratio (%)
Capital
cost
Total amount
procured
*Total amounts procured: Balances include debts paid through securitization.
Capital costs shown are expenses included in the calculation of cost of sales.
(100 millions
of yen)
Long-term
Short-term
58.6
61.1 61.8 62.0 63.1
0
2,000
4,000
6,000
8,000
14/9 15/3 15/9 16/3 16/9
7 777
6
6,170 6,337 6,331
6,710 6,747
Performance Overview

12. 実績報告
11
Selling, General and Administrative Expenses
Bad debt
expense
Personnel
expenses
Others
(100 millions of yen)
6666 67 6867
30 28 30 28 30
32 32
33 33 33
5 3 4 5
20
40
60
80
14/9 15/3 15/9 16/3 16/9
0
3
Performance Overview

13. 12
2. Financial Forecast
(Fiscal Year Ending March 2017)

14. 実績報告
13
MarketCustomerCompany
Current Business Environment
• Deterioration of corporate earnings due to concerns about economic slowdowns in
major countries, correction of yen’s depreciation, etc.
⇒ Impact on capital investments in Japan
• Monetary easing policy (negative interest rates, etc.) by the Bank of Japan
⇒ Low-level corporate bankruptcies and fall in interest rates
• Development of new technologies (AI, robots, Fintech, Society 5.0, etc.)
Medical & nursing care:
Bipolarization before the scheduled revisions of medical fees and nursing care fees
in 2018 (hospitals, clinics, pharmacies, nursing care facilities)
⇒ M&A, investments (capital, human resources), relocation, business closure
Information equipment : Increasing needs for virtualization and cloud computing
⇒ From selling equipment to receiving consignment of operations (service
contract)
Manufacturing: Capital investments have been stagnant since the China shock last
summer
• Sluggish growth in transactions due to changes in the market environment
• Decreases in lease renewals due to decreasing transactions for new leases after
Lehman collapse
• Defaults in the nursing care industry on the rise though at continuing low levels
Performance Overview

15. 業績予想
14
Consolidated Income Forecast
(100 millions of yen, %)
16/3 17/3
Actual
Medium-term
management
strategy target
Forecast
Difference
with medium-
term strategy
target
Growth
Rate
Net sales 2,758 2,800 2,850 50 3.3
Gross profit 303 - 310 - 2.1
SGA expenses 134 - 137 - 2.1
Operating income 169 175 173 (2) 2.1
(Operating income ratio) 6.1 6.3 6.1 (2.0) (0.0)
Ordinary income 168 - 171 - 1.5
Net income 110 109 115 6 4.1
(Net income ratio) 4.0 3.9 4.0 0.1 0.0
Year-on-year change in yen
ROA 1.29% 1.3% 1.29% (0.01%) (0.00%)
ROE 7.9% 7.4% 7.7% 0.3% (0.2%)
Net income per share 353.96 - 368.39 - 14.43
Dividend per share 55.00 - 60.00 - 5.00
Financial Forecast

16. 業績予想
15
Transaction Volume Forecast by Business
(100 millions of yen, %)
16/3 17/3
Actual
Medium-term
management
strategy target
Forecast
Difference
with medium-
term strategy
target
Growth
Rate
Finance lease 2,663 - 2,670 - 0.2
Operating lease 127 - 130 - 2.4
Installment sales 547 - 600 - 9.6
Leasing/Installment
sales business
3,337 3,660 3,400 (260) 1.9
Financial services
business
264 340 285 (55) 7.9
Total transaction volume 3,601 4,000 3,685 (315) 2.3
Financial Forecast

17. 業績予想
16
Transaction Volume Forecast by Product:
Leasing/Installment sales business
(100 millions of yen, %)
16/3 17/3
Actual
Medium-term
management
strategy target
Forecast
Difference
with medium-
term strategy
target
Growth
Rate
Office and IT-related
equipment
1,794 2,200 1,800 (400) 0.3
Medical equipment 432 500 455 (45) 5.3
Industrial machinery 337 - 356 - 5.3
Commercial and service
industry equipment
328 - 335 - 2.1
Vehicles and
transportation equipment
139 - 144 - 2.9
Others 305 - 310 - 1.4
Total 3,337 3,660 3,400 (260) 1.9
Financial Forecast

18. 業績予想
17
Increasing customers (vendors, users)
Expansionofproductssold
Expansionofregions
Expansionofnewareasand
businesses
New
services in
nursing care
Environment
Loan
guarantee
Others
Vehicle
transport
application
Construction
machinery
Medical/
Nursing care
Administration/
Information
Environment
Loan
guarantee
Construction
machinery
+107%
+47%
No past result
Total transaction volume
14/3 17/3Forecast
New areas
Existing
areas
Balance of Operating Assets
345,700 million yen 368,500 million yen
14/3 17/3Forecast
697,800 million yen 807,300 million yen
+6.6%
+15.7%
*Figures in circles represent growth rates of
17/3 forecasts against 14/3 results.
Others
Actual results
exist
Financial ForecastManagement Strategy (Looking back on OCeaN Strategy)
Administration/
Information
Vehicle
transport
application
(11.2%)
+14.3%
Medical/
Nursing care
+3.4%
New
services in
nursing care
Actual results
exist

19. 実績報告
18
Forward-looking statements including earnings forecasts contained in this document are based on certain assumptions deemed to be rational in
light of the information available to the Company at the time of preparing the document, and are not intended to be guarantees of future
performance. Actual results may differ significantly from plans and forecasts due to a variety of factors.
Reliability
for
the Future
Ricoh Leasing Company, Ltd.
Ricoh Leasing Company, Ltd.

20. 19
(100 millions of yen, %)
15/9 16/9
Actual Actual Growth Rate
Leasing revenue 1,063 1,085 2.1
Installment sales revenue 161 201 24.6
Financing revenue 12 13 0.5
Commission revenue 22 24 10.1
Others 102 123 20.3
Total net sales 1,363 1,448 6.3
<Reference> Breakdown of Sales for the Second Quarter of the Year Ending March 2017

21. 20
<Reference> Breakdown of Sales Forecast for Fiscal Year Ending March 2017
(100 millions of yen, %)
16/3 17/3
Actual Forecast Growth Rate
Leasing revenue 2,124 2,190 3.1
Installment sales revenue 352 390 10.7
Financing revenue 26 27 2.4
Commission revenue 44 48 8.2
Others 211 195 (7.6)
Total net sales 2,758 2,850 3.3

22. 21
<Reference> Anticipated Factors Affecting Operating Income for FYE March 2017
(100 millions of yen)
17,300
million
yen
17/3Forecast
16,900
million
yen
400 million
yen
Gross profit calculation SGA expenses
Increase in
Allowance for
doubtful accounts
16/3Actual
+2
Increase in
financial
income
Increase in gross
margin for the
lease/installment
business
Expenses
(2)
+4
Financing cost
±0 ±0