https://www3.nhk.or.jp/nhkworld/en/news/20201105_18/
Japanese precision machinery maker Ricoh has reported its first-ever net loss for the first half of a fiscal year due to the coronavirus pandemic.
Ricoh announced on Wednesday that sales totaled roughly 7.3 billion dollars in the April-September period, down 23.4 percent from a year ago. It posted a net loss of about 212 million dollars.
The decline is attributed to a plunge in sales of copying machines, printers and other office machinery, mostly in Western countries, as more people stayed at home.
Ricoh had said in August that it expected to make a profit in the current fiscal year, but later downgraded its forecast to a loss of about 349 million dollars, following a resurgence of the virus in Europe.
Ricoh President and CEO Yamashita Yoshinori told reporters they cannot let their guard down because the global spread of the virus has slammed the brakes on economic recovery. He said the company will need to radically reform its business structure.