Ricoh cuts 2010/11 operating profit target by 32 pct

TOKYO, March 13 (Reuters) - Japan's Ricoh Co Ltd (7752.T), the world's largest copier maker, said on Friday it had cut its operating profit target for the year starting April 2010 by a third due to a firmer yen.

It now expects profit of 170 billion yen ($1.7 billion), compared with its previous goal of 250 billion yen announced a year ago.

Ricoh also said it aims for 2.3 trillion yen in revenues for the 2010/11 business year, compared with its previous target of 2.5 trillion yen.

The new targets are based on foreign exchange assumptions of 90 yen to the dollar and 120 yen per euro. Its earlier assumptions were 105 yen to the dollar and 155 yen per euro.

WA state agency pays 10 times more per photocopy

They're starting to catch on up there in Washington.

One department is paying for 950,000 images per month, "...the Department of Ecology pays four cents per copy and must pay for 950,000 copies a month, whether it prints that many or not.

Last December, this department was billed $15,493 for copies it never made.

In an article here the good people of Washington state have lawmakers who are really looking out for their taxpayers.

Where one department is paying 4 cents, another is paying 0.004/image.

The Department of Printing billed agencies $50,000 for assessments done by OkiData and Lexmark -- but some departments have taken advantage of "free" assessments.

Pam Derkacht, Assistant Director of Customer Services for the Department of Printing says, "It's really easy for any agency or any large organization to want to take the free assessment but it always results in "You need more equipment or you need newer, upgraded equipment."

Text of the TV article is here.

Canon cuts 2010 profit outlook by 75%

Canon Inc. (CAJ: News ) lowered its profit outlook for 2010 by 75% to figures more in line with the economic downturn as the company grapples with the impact of a stronger yen and weak demand on its operations, according to media reports Thursday.

Accordingly, for 2010, Canon now forecasts net income of 150 billion yen, down sharply from its prior outlook for net income of 600 billion yen set in 2007. The company also lowered its outlook for revenues for the year to 3.7 trillion yen from the prior forecast of 6 trillion yen.

Canon had recorded profits for eight consecutive years through fiscal 2007 on stronger demand for copiers, digital cameras and other products. However, the company has since witnessed a sharp fall in demand for its cameras and copiers as the global economic crisis hit its major export markets.