Ricoh Co Ltd’s outlook looks brighter to Standard & Poor’s Corp, which changed its rating outlook to positive from stable while affirming Ricoh’s and its related entities’ long-term ratings of A-minus and short-term ratings of A2. The ratings agency says the revision reflects Ricoh’s improving market position based on its strength in digital and networking technology, and adds that it would consider upgrading Ricoh’s ratings if it can augment its position with improved competitiveness and sustainable progress. The affirmed ratings reflect Ricoh’s leading position in the Japanese office copier market, an extensive sales and maintenance network, and strong capital structure, but it is constrained by a comparatively narrow product portfolio in office automation equipment and is less globally diversified than its major competitors, something that we thought the buying Gestetner Holdings Plc last year was intended to remedy.
