- The document summarizes Ricoh Leasing Company's financial results for the third quarter of the fiscal year ending March 2020. Net sales and profits reached record highs and performance was progressing steadily towards full-year forecasts. Operating assets increased by 69.1 billion yen from the previous term due to acquiring contracts. The default rate decreased due to increased operating assets while default loss showed a slight increase.

1. Third Quarter of
Fiscal Year
Ending March
2020 (FY2019)
Financial
Highlights
January 28, 2020
Ricoh Leasing Company, Ltd.

2. Intentionally blank

3. 3
Table of Contents
1. Consolidated Results for the Third Quarter
of Fiscal Year Ending March 2020
2. Consolidated Income Forecast for Fiscal Year
Ending March 2020
3. Reference Material

4. 4
1. Consolidated Results for the Third
Quarter of Fiscal Year Ending March
2020

5. 5
 Net sales and each profit posted new record highs.
 We kept accumulating operating assets and enhancing quality. We also
continued to improve “profitability.”
 Performance progressed steadily towards the full-year forecasts.
Financial Performance Overview for the Third
Quarter of Fiscal Year Ending March 2020
Net Sales : 249.1 billion yen (+6.2%)
Expanded income for ten consecutive periods
Gross Profit : 26.3 billion yen (+8.0%)
Expanded income for six consecutive periods
Operating Profit : 14.0 billion yen (+5.5%)
Expanded income for two consecutive periods
Ordinary Profit : 13.8 billion yen (+3.6%)
Expanded income for two consecutive periods
Net Income : 9.5 billion yen (+4.1%)
Expanded income for two consecutive periods
Balance of Operating Assets : 966.4 billion yen (+69.1 billion yen)
* In this document, “Profit Attributable to Owners of Parent” is listed as “Net Income”

6. 6
• We kept accumulating operating assets and enhancing quality. Net sales and each profit are progressed steadily.
• Selling, general and administrative expenses increased due to the investment to reinforce the business
foundation (human resources, IT infrastructure) and the increase in bad debt expenses.
Consolidated Results
19/3 20/3
3Q
cumulative total
3Q
cumulative total
Growth
Rate
Full-Year
Forecast
Net Sales 234.5 249.1 6.2% 329.1 75.7%
Gross Profit 24.4 26.3 8.0% 35.6 74.1%
Selling, General and
Administrative Expenses
11.1 12.3 11.1% 17.8 69.5%
Operating Profit 13.2 14.0 5.5% 17.8 78.7%
Ordinary Profit 13.3 13.8 3.6% 17.6 78.5%
Net Income 9.1 9.5 4.1% 12.1 79.0%
YoY change
Dividend per Share(yen) - - - 90.00 －
Earnings per Share(yen) 293.97 309.07 15.09 392.53 －
Dividend Payout Ratio - - - 22.9% －
ROA (Return on Asset Ratio) 1.23% 1.18% (0.05%) 1.09% －
ROE (Return on Equity Ratio) 7.3% 7.2% (0.1%) 6.8% －
20/3
Progress
Rate
(Billion Yen)
* Actual ROA and ROE are annualized numerical figures

7. 7
13.28
billion yen
14.01
billion yen
(0.06)
(0.48)
+0.29
+0.52
＋1.21
(0.40)
(0.34)
Factors Affecting Operating Profit
Gross Profit
Selling, General and
Administrative Expenses
(Billion Yen)
19/3
3Q cumulative total
Gross
Margin for
Leases and
Installment
Sales
Business
Gross
Margin for
Financial
Services
Business
Others
Financial
Expenses
Allowance
for Doubtful
Accounts
Human Resources
Other Expenses
20/3
3Q cumulative total
0.72
billion yen

8. 8
[Financial Services Business]
• The commission business, such as
collection agency services,
factoring services for healthcare
and nursing-care facilities, and
loans were steady.
• The segment profit increased due
to reversal of bad debt accrual.
Performance by Segment
 Leases and Installment Sales Business (Billion Yen)
198.7
209.6 219.5 226.4 240.1
10.6 10.9 10.7 10.8 11.1
0.0
5.0
10.0
15.0
20.0
0.0
50.0
100.0
150.0
200.0
250.0
16/3
3Q
cumulative total
17/3
3Q
cumulative total
18/3
3Q
cumulative total
19/3
3Q
cumulative total
20/3
3Q
cumulative total
Net Sales
Segment
Profit
[Leases and Installment Sales
Business]
• Due primarily to increased
operating assets and the
improvement of quality,
revenue and profits
increased.
* % of operating profit =
financial services business segment profit /
operating income
4.8 5.1 5.4
6.1
6.9
2.4 2.5 2.5 2.9 3.6
19.1% 19.3% 19.9%
22.2%
25.9%
-10%
0%
10%
20%
30%
0.0
10.0
16/3
3Q
cumulative total
17/3
3Q
cumulative total
18/3
3Q
cumulative total
19/3
3Q
cumulative total
20/3
3Q
cumulative total
Net Sales
Segment
Profit
% of
Operating
Profit
 Financial Services Business (Billion Yen)

9. 9
• Acquired yields of new contracts kept improving as they were forecasted.
• Operating Leases declined due to reasons such as a backlash from the large amount of contracts
of the previous year.
Actual Results of Transaction Volume
and Investment Amount
 Transaction Volume and Investment Amount (Billion Yen)
19/3 20/3
3Q
cumulative total
3Q
cumulative total
Growth
Rate
Full-Year
Forecast
Finance Leases 195.6 219.0 12.0% 297.0 73.8%
Operating Leases 15.6 13.3 (14.6%) 19.0 70.4%
Installment Sales 63.2 82.0 29.8% 107.0 76.7%
274.5 314.4 14.6% 423.0 74.3%
Loans Transaction Volume 30.6 44.9 46.8% 53.0 84.8%
Total Transaction Volume 305.1 359.4 17.8% 476.0 75.5%
Investment Amount 4.5 8.5 89.6% 10.7 79.5%
309.6 367.9 18.8% 486.7 75.6%Total
20/3
Progress
Rate
Total Transaction Volume for
Leases and Installment Sales
* Transaction Volume for Leases and Installment Sales indicates the total collection amount during the contract period
* Investment Amount indicates the amount to purchase assets

10. 10
Operating Assets
• Operating assets increased by 69.1 billion yen from the end of the previous term as a result of
steadily acquiring contracts.
 Operating Assets (Billion Yen)
19/3
Actual
End of 3Q
Actual
Growth
Rate
Full-Year
Forecast
Growth
Rate
Finance Leases 565.1 587.0 3.9% 610.0 7.9%
Operating Leases 29.0 30.3 4.6% 31.0 6.7%
Installment Sales 133.1 151.1 13.5% 160.0 20.2%
727.3 768.5 5.7% 801.0 10.1%
Loans 154.3 180.3 16.8% 180.5 17.0%
Investment 9.2 17.5 89.3% 24.0 159.5%
Others 6.3 0.0 (100.0%) 0.0 (100.0%)
Total Operating Asset 897.2 966.4 7.7% 1,005.5 12.1%
Total Transaction Volume for
Leases and Installment Sales
20/3 20/3

11. 11
[Actual Performance Summary]
• Office and IT-related equipment were sound due to the OS migration-related last-minute demand,
etc.
• Solar power generation-related items contributed to the results of the increase in industrial machinery
and others.
• In cooperation with vendors, improve efficiency and promote differentiation.
• Develop new areas by understanding social changes and customer needs.
[Strategies/Measures of FY2019]
Transaction Volume for Leases and
Installment Sales
 Leases and Installment Sales Transaction Volume by Product (Billion Yen)
19/3 20/3
3Q
cumulative total
3Q
cumulative total
Growth
Rate
Full-
Year Forecast
Office and IT-Related
Equipment
140.5 152.2 8.3% 208.0 73.2% 19.1%
Medical Equipment 24.8 28.7 15.6% 37.0 77.6% 11.8%
Industrial Machinery 29.3 40.2 37.1% 52.5 76.8% 6.9%
Commercial and Service
Equipment
31.0 28.1 (9.3%) 38.0 74.1% 1.1%
Transport Equipment 15.5 16.6 6.6% 24.0 69.2% 6.9%
Others 33.0 48.4 46.4% 63.5 76.3% (8.8%)
Total 274.5 314.4 14.6% 423.0 74.3% 8.9%
Japan Leasing
Association (cumulative
total from 19/4 to
19/11)
Growth Rate
20/3
Progress
Rate

12. 12
[Actual Performance Summary]
[Strategies/Measures of FY2019]
Environmental Field
 Environmental Field: Transaction
Volume and Investment Amount
23.4 24.1
31.5
34.5
43.6
2.6
2.9
37.1
46.5
16/3
4Q
cumulative
total
17/3
4Q
cumulative
total
18/3
4Q
cumulative
total
19/3
4Q
cumulative
total
20/3
3Q
cumulative
total
Investment Amount Transaction Volume for Leases and Installment Sales
Billion yen
• While securing a certain level of profit and risk
management, expand operating assets.
• Diversify asset holding styles (leases and
installment sales and power generation
businesses)
• Acquisition of secondary and on-roof-type
solar power generation projects
• Total transaction volume and investment
amount were up 85.4% year-on-year.
• Full-Year Forecast of 45.0 billion yen (of which
5.0 billion yen is investment) was achieved
early.
* Transaction Volume for Leases and Installment Sales indicates the total collection amount during the contract period
* Investment Amount indicates the amount to purchase assets

13. 13
• Both collection agency services and factoring
services for healthcare and nursing-care facilities
achieved double-digit growth for the quarter.
• The performance of both Casa Direct and
Yanushi (House Owner) Direct (collection agency
service with rent guarantee) was sound, and
contributed to the growth of the overall
performance.
• Factoring services for healthcare and nursing-
care facilities progressed steadily due to the
development of middle-sized businesses.
[Strategies/Measures of FY2019]
Commission Business
 Number of Transactions in Collection Agency
Services
12.02 13.14 13.54 14.97 16.52
4.05
4.40 4.65
5.0916.07
17.55 18.19
20.07
16/3 17/3 18/3 19/3 20/3
1-3Q 4Q
(million cases)
 Transaction Volume of Factoring Services for
Healthcare & Nursing-Care Facilities (Billion Yen)
[Actual Performance Summary]
• New product: The release of RiLTA, fast-cashing
service
• Strategic partnership that satisfies a variety of
risk hedging and BPO needs related to BtoB
billing and collection.
— Net Protections, Inc.
Main service: Post-pay settlement service in the EC market
— eGuarantee, Inc.
Main service: Accounts receivable guarantee service
34.1
44.6 54.0 58.2
75.113.0
16.0
18.0
19.9
47.1
60.6
72.0
78.1
4.9 5.9 6.7
7.9
11.4
-15
-13
-11
-9
-7
-5
-3
-1
1
3
5
7
9
11
13
15
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
16/3 17/3 18/3 19/3 20/3
1-3Q 4Q Balance

14. 14
• Corporate lending increased significantly.
• Loans for the medical field and loans for
individual investment condominium also
progressed steadily.
[Strategies/Measures of FY2019]
Loans
(Billion Yen) Loans Transaction Volume
19.3
22.6 20.6
30.6
44.97.0
10.1 13.7
18.2
26.4
32.7
34.3
48.8
110.6
121.6
137.4
154.3
180.3
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
180.0
200.0
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
16/3 17/3 18/3 19/3 20/3
1-3Q 4Q balance
• Accumulate prime assets focusing on the real
estate field.
• For the medical field, reinforce not only clinics
but also hospitals.
[Actual Performance Summary]

15. 15
• The number of owned houses for rent was
steadily increased aiming to achieve the target,
500 units.
• A high occupancy ratio was maintained.
[Strategies/Measures of FY2019]
Housing Rental Business
(units)
 Number of Units Owned for Housing Rental
86
272
463
18/3 19/3 20/3
3Q
[Actual Performance Summary]
• Steady profit growth with the increase in the
number of owned houses for rent
• Development of services to solve social issues
by utilizing alliance
Revitalization and vitalization measures for
apartment complexes
Business partnership with JS Corporation
 Start of the handling of “Apartment complex
revitalization loan”
 Renovation of apartment complex
 Development of new services which utilize IoT
technology
 Development of subscription-type rental service
Joint development with Peace Tec Lab, Inc.

16. 16
Operating Assets and Default Rate
551.7 562.7 576.1 589.8 611.6
18.7 20.8 23.0 29.0
30.383.7 95.8
111.3
133.1
151.1123.1
129.2
145.8
169.8
197.8
777.3
808.6
856.3
921.9
991.0
0.18% 0.18% 0.17% 0.17% 0.16%
-10.00%
-8.00%
-6.00%
-4.00%
-2.00%
0.00%
16/3 17/3 18/3 19/3 20/3
3Q
Financial Services/
Others
Installment Sales
Operating Leases
Financial Leases
Default Rate
(Billion Yen)
• Default rate decreased due to
the increased operating assets.
• Default loss showed a slight
increase.
* Default rate = default loss amount / average balance of operating assets (default rate has been calculated by annualizing the
default loss amount for the third quarter of 20/3)
* The balance of operating assets includes the amount of the securitizations of lease receivables (Amount of Securitized Lease
Receivables for the third quarter of 20/3: 24.6 billion yen)

17. 17
Total Procurement Amount and
Financial Expenses
(Billion Yen)
 Interest-Bearing Debt Outstanding
537.8 574.5 615.6 678.9
793.8
133.2 112.1
111.0
96.2
68.6
671.0 686.6
726.6
775.2
862.4
16/3 17/3 18/3 19/3 20/3
3Q
Short-term
Long-term
[Balance of Interest-Bearing Debt]
• Financing in line with the rise in
operating assets and its duration.
* The balance includes the amount of procurement through
securitized portions of lease receivables
* Current portion of long-term liabilities within one year is
included in long-term debt
(Billion Yen)
 Financial Expenses and Financial
Expenses Ratio
1.10
0.89 0.82 0.77 0.83
0.35
0.27 0.25 0.25
1.45
1.16
1.08 1.02
0.20%
0.15% 0.13% 0.12% 0.12%
-0.50%
-0.30%
-0.10%
0.10%
0.30%
16/3 17/3 18/3 19/3 20/3
4Q
1-3Q
Financial
Expenses
Ratio
[Financial Expenses and Financial
Expenses Ratio]
• Financing remained at a low level.
• Though financial expenses showed an
increase, its ratio remained the same.
* Financial expenses ratio = financial expenses / average
operating assets
* For the third quarter of 20/3, financial expenses ratio has
been calculated by annualizing financial expenses

18. 18
Selling, General and Administrative
Expenses
(Billion Yen)
5.3 5.3 5.3 5.7 6.2
4.0 4.1 4.3
4.5
4.9
0.6 0.8 0.8
0.8
1.2
10.0 10.3 10.6
11.1
12.3
39.7% 39.0%
40.6% 40.7% 40.9%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
45.0%
50.0%
0
2
4
6
8
10
12
14
16
18
16/3
3Q
cumulative
total
17/3
3Q
cumulative
total
18/3
3Q
cumulative
total
19/3
3Q
cumulative
total
20/3
3Q
cumulative
total
Bad Debt
Expenses
Others
Personnel
Expenses
OHR
* OHR = (Selling, General and Administrative Expenses − Bad Debt Expenses) / (Gross Profit + Financial Expenses)
* Transferred staffing expenses from “Other Expenses” to “Personnel Expenses” from the first quarter of 20/3. Figures in
charts show transferred amounts
• Bad debt expenses increased in line
with the rise in operating assets.
• The investment to reinforce the
business foundation (human
resources, IT infrastructure) was
maintained.

19. 19
2. Consolidated Income Forecast for
Fiscal Year Ending March 2020

20. 20
* There is no revision to the income forecast announced on October 25, 2019.
Consolidated Income Forecast
19/3
Full-year
Actual
Full-year
Forecast
Growth
Rate
Net Sales 313.9 329.1 4.8%
Gross Profit 32.9 35.6 8.1%
Selling, General and
Administrative Expenses
15.6 17.8 13.6%
Operating Profit 17.2 17.8 3.0%
Ordinary Profit 17.3 17.6 1.2%
Net Income 11.9 12.1 1.3%
YoY change
Dividend per Share (yen) 80.00 90.00 10.00
Earnings per Share (yen) 382.60 392.53 9.93
Dividend Payout Ratio 20.9% 22.9% 2.0%
ROA (Return on Asset Ratio) 1.19% 1.09% (0.10%)
ROE (Return on Equity Ratio) 7.0% 6.8% (0.2%)
Operating Assets 897.2 1,005.5 108.2
20/3
(Billion Yen)

21. 21
Forecast of Transaction Volume and
Investment Amount
 Transaction Volume and Investment Amount
Full-year
Actual
Growth
Rate
Full-year
Forecast
Growth
Rate
Finance Leases 266.8 0.4% 297.0 11.3%
Operating Leases 20.2 27.9% 19.0 (6.3%)
Total Leases 287.1 1.9% 316.0 10.1%
Installment Sales 86.1 14.3% 107.0 24.2%
373.2 4.5% 423.0 13.3%
Loans Transaction Volume 48.8 42.3% 53.0 8.4%
Total Transaction Volume 422.1 7.8% 476.0 12.8%
Investment Amount 7.2 244.4% 10.7 49.0%
Total 429.3 9.1% 486.7 13.4%
Total Transaction Volume for
Leases and Installment Sales
19/3 20/3
(Billion Yen)
 Collection Agency Services, Factoring Services for Healthcare &
Nursing-Care Facilities, and Housing Rental Business
Full-year
Actual
Growth
Rate
Full-year
Forecast
Growth
Rate
20.07 cases 10.3% 22.60 cases 12.6%
78.1 8.4% 95.0 21.5%
272 unit 216.3% 500 unit 83.8%
19/3 20/3
Number of Transactions in Collection
Agency Services (million cases)
Transaction volume of Factoring Services
for Healthcare & Nursing-Care Facilities
Number of units owned for housing rental
(Billion Yen)

22. 22
Forecast of Leases and Installment Sales Transaction
Volume by Product / Environmental Field
 Leases and Installment Sales Transaction Volume by Product
Full-year
Actual
Growth
Rate
Full-year
Forecast
Growth
Rate
Office and IT-Related Equipment 190.6 1.0% 208.0 9.1%
Medical Equipment 35.0 (2.2%) 37.0 5.6%
Industrial Machinery 42.2 2.2% 52.5 24.2%
Commercial and Service Equipment 38.5 10.5% 38.0 (1.3%)
Transport Equipment 21.3 30.3% 24.0 12.7%
Others 45.5 13.8% 63.5 39.4%
Total 373.2 4.5% 423.0 13.3%
19/3 20/3
(Billion Yen)
 Environmental Field The Transaction Volume for Leases and Installment Sales for the
Environmental Field is included in the transaction volume of the above.
Full-year
Actual
Growth
Rate
Full-year
Forecast
Growth
Rate
34.5 9.6% 45.0 30.3%
Investment Amount 2.6 － 5.0 88.0%
Total 37.1 18.0% 50.0 34.4%
19/3 20/3
Transaction Volume for
Leases and Installment Sales
(Billion Yen)
* Transaction Volume for Leases and Installment Sales indicates the total collection amount during the contract period
* Investment Amount indicates the amount to purchase assets
* Full-Year forecast for Transaction Volume for Leases and Installment Sales was revised upward to 45.0 billion yen
from 40.0 billion yen.

23. 23
3. Reference Material

24. 24
Overview of Consolidated Statements of
Income
3Q
cumulative total
Growth
Rate
3Q
cumulative total
Growth
Rate
Full-Year
Forecast
Growth
Rate
Net Sales 234,542 3.3% 249,165 6.2% 329,100 4.8%
Leases 172,190 3.0% 178,162 3.5% 236,500 2.7%
Installment Sales 37,599 6.4% 38,467 2.3% 52,500 4.1%
Loans 2,160 11.6% 2,398 11.0% 3,400 17.7%
Commission Received 4,276 7.4% 4,601 7.6% 6,100 6.5%
Others 18,314 (2.2%) 25,535 39.4% 30,600 23.9%
Cost of Sales 210,125 3.1% 222,785 6.0% 293,500 4.4%
Leases 156,073 2.9% 161,046 3.2% － －
Installment Sales 35,548 6.2% 36,128 1.6% － －
Financial Expenses 770 (7.1%) 834 8.4% － －
Others 17,733 (0.2%) 24,775 39.7% － －
Gross Profit 24,416 4.7% 26,380 8.0% 35,600 8.1%
11,132 4.3% 12,367 11.1% 17,800 13.6%
Personnel Expenses 5,729 6.2% 6,212 8.4% 8,300 6.8%
Provision of Allowance for
Doubtful Accounts
888 1.6% 1,236 39.2% 2,000 22.5%
Operating Profit 13,284 4.9% 14,013 5.5% 17,800 3.0%
Ordinary Profit 13,346 6.2% 13,823 3.6% 17,600 1.2%
Net Income 9,176 5.7% 9,556 4.1% 12,100 1.3%
20/319/3 20/3
Selling, General and
Administrative Expenses
(Million Yen)
* Staffing Expenses out of Selling, General and Administrative Expenses have been calculated by including them in “Personnel Expenses”
since the first quarter of 20/3. Accordingly, the figures for the actual results of the previous year have been stated by calculating in the
same standard

25. 25
Net sales and profit by segment
 Net Sales (Million Yen)
3Q
cumulative total
Growth
Rate
3Q
cumulative total
Growth
Rate
Leases and Installment
Sales Business
226,441 3.1% 240,168 6.1%
Financial Services Business 6,157 12.4% 6,952 12.9%
Others 1,942 (4.1%) 2,044 5.2%
Total 234,542 3.3% 249,165 6.2%
19/3 20/3
 Segment Profit (Million Yen)
3Q
cumulative total
Growth
Rate
3Q
cumulative total
Growth
Rate
Leases and Installment
Sales Business
10,866 1.4% 11,121 2.4%
Financial Services Business 2,946 16.8% 3,636 23.4%
Others 145 (18.5%) 261 80.0%
Total 13,958 4.1% 15,019 7.6%
20/319/3
* “Others” are the business segments which are not included in reporting segments, and include
outsourcing technology services such as measurement, calibration and device inspection, loan and
factoring within the Ricoh Group, operation of a domestic cash management system and operation of
solar power generation facilities

26. 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.
<Contact>
Corporate Planning Department
Tel : 03-6204-0608
Email : ir@rle.ricoh.co.jp
URL : http://www.r-lease.co.jp
Ricoh Leasing Company, Ltd.