There are some indications (but not tested by me yet) that the R3 and R4 light metering needs to be carefully looked at. The Multi mode is theoretically the most intelligent method as it should handle all conditions, but others have found it is slow to meter correctly, and often makes exposure compromises that don't suit the subject at hand. If a very bright spot is off to the side it may unduly influence the exposure and cause an overall under-exposed shot.
Maybe the safest way to get a correct exposure is to use the Centre Weighted option, and use the Spot mode for checking exposure on small areas of interest, but remember to put it back to Centre Weighted. More tests are needed on the Multi mode, but a few people have had problems with it, so be careful. Learn to read the histogram optionally provided in preview and review to get a better understanding of correct exposure.
Digital cameras always seem to blow highlights easily and the Ricohs are no exception, some use a more or permanent setting of 0.3 EV underexposure, some use 0.7 EV under to help preserve highlights. oif course that slight under-expsoing may lead to more noise in shadows, so the post processing may need to include noise removal.
The rear LCD does not show the same effective exposure as does a review on a calibrated monitor on a computer. Angle of view of the LCD, ambient light, the LCD brightness setting all come into play to yield a sometimes misleading result on reviewing in the camera.