Chungcheongnam-do

Sindoricoh is synonymous with Korea's office devices and has concentrated on only office devices since its foundation in 1960. Supported by such a “focus and concentration” in one business area, it has grown into a solid and substantial specialist in office devices. Last year it recorded a consecutive 50-year surplus, which is hardly found in the logs of other Korean companies.

Expects Stable Growth Despite the Global Financial Crisis
In 2008, its sales increased by 8.9% over last year to 643.9 billion won, its operating profits by 13.4% to 47.26 billion won, and its net profit by 4.2% to 68 billion won. Its records have been good despite the global economic recession.
In 2009, it expects an increase to the margin rate per product thanks to stable sales to its major clients and the profits from increasing foreign exchange. Relatively immune to economic fluctuations, black and white high speed copiers and printers will bring good performance. In addition, its expansion into digital multifunctional devices and color copiers will promote its stable growth further.

Rationalization of Management Around Substance
Sindoricoh's substantial management centers around the three no's, which are no loans, no bills, and no deficit. It especially serves a critical role during crisis. During the foreign currency crisis in 1997, most Korean companies started restructuring except for Sindoricoh, which promoted further growth based on the stable financial structure. It particularly focused on exports. Its exports accounted for 30% of its sales in 2001 and 70% today. Last year, it signed an export agreement for printers with Lexmark of America and for next generation digital office devices with Ricoh of Japan.
Sindoricoh has been active in expanding its overseas business. Its production has continued to grow since it set up a plant in Qingdao, China in 2003. The plant manufactures laser printers, digital multifunctional devices, consumption goods, and auxiliary goods. Standing with an area of over 100,000 pyeong, the plant is one of the company major production bases.

Reorganized Its Business as a Total Solution Company
Currently Sindoricoh is growing “solutions” as its new core business and is planning to make active investments into developing office solutions and related services to create freer and more efficient office environments. Through the solutions business, it will increase sales to 700 billion won in 2009.
Its “non-stop solution” cuts down the maintenance and repair expenses of office devices and further provides security functions to guard important information. By using statistics about users and machinery, it helps to create an optimal office environment. In addition, it can heighten job efficiency by instantly giving the alarm on a breakdown or drainage of consumption goods. In particular, it offers various user identification procedures and saves the use specifications and original images of copies, faxes, printing, and scanning to reduce the possibility of secret leaking to a minimum. This year, it will tackle the market with its digital multifunctional device, which is capable of copying, printing, faxing, and scanning, based on this solutions-centered technology. Its ultimate goal is to create an office environment more convenient and cheaper through its state-of-the-art solutions and complete service.