Investor Relations

STABILITY

(%)

	2004	2005	2006	2007	2008
Equity Ratio*1	34.59	35.55	31.12	38.64	42.98
Current Ratio*2	110.50	117.97	100.48	144.33	147.75
Current Assets (Millions of yen)	535,769	542,728	540,152	544,237	557,111
Current Liabilities (Millions of yen)	484,842	460,047	476,559	377,069	377,070
Fixed Assets/Liability Ratio*3	89.72	83.60	68.77	71.02	65.35
Interest Coverage Ratio (times)*4	11.05	10.08	14.40	12.78	27.68
Interest-Bearing Debt (Millions of yen)*5	267,951	246,347	236,561	229,365	226,026
Debt/Equity Ratio (times)*6	0.80	0.73	0.81	0.62	0.54

*1.

Equity Ratio = Equity / Total Assets x 100 (%)

*2.

Current Ratio = Current Assets / Current Liabilities x 100 (%)

*3.

Fixed Assets/Liability Ratio = Fixed Assets / (Shareholder's Equity + Long-Term Liabilities) x 100 (%)

*4.

Interest Coverage Ratio = (Operating Income + Interest and Dividend Income) / Interest and Dividend Expenses (times)

*5.

Interest-Bearing Debt = Short-Term Debt + Long-Term Debt + Bonds

*6.

Debt/Equity Ratio = Interest-Bearing Debt / Equity (times)

*Changes in items*1,*6: due to the enforcement of corporate law (applied from year ended March 31,2007)
 Reference: Equity (Net assets) = Shareholder's equity + Revaluation and translation adjustments
 

NOTES:
Konica Minolta Holdings, Inc. was formed in August 2003 following management integration and an exchange of shares between the former Konica Corporation and the former Minolta Co., Ltd. For accounting purposes, management integration
took effect as of September 30, 2003. Accordingly, both companies have prepared separate financial statements for the first
half of the fiscal year ended March 31, 2004. Financial data for the full fiscal year ended March 31, 2004 have been prepared as a matter of convenience on the following basis.
*The Statement of income has been prepared inclusive of the former Minolta Co., Ltd.’s first half results.

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