KONICA MINOLTA

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KONICA MINOLTA Financial Results 2005

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2005

Konica Minolta Holdings, Inc.
Listed Company Name: Konica Minolta Holdings, Inc.
URL: http://konicaminolta.com
Representative: Fumio Iwai, President and Representative Executive Officer
Inquiries: Yuki Kobayashi, General Manager, Corporate Communications &S Advertising Division
Tel: (81) 3-6250-2100
Stock Exchange Listings: Tokyo, Osaka (First Sections)
Local Securities Code Number: 4902
Board of Directors Meeting for Approval of Consolidated Results: May 12, 2005
U.S. accounting practices have not been adopted in this statement.

1. Consolidated Financial Results for Fiscal Year Ended March 31, 2005
(April 1, 2004 to March 31, 2005)

(1)Operating Results

*Figures less than ¥1 million have been omitted. [Millions of yen]

  Net sales Operating income Recurring profit
Fiscal year ended March 31,2005 1,067,447 24.1% 67,577 17.5% 53,617 24.2%
Fiscal year ended March 31,2004 860,420 53.9% 57,530 34.2% 43,186 33.1%
  Net income Net income per share
[yen]
Net income per share
(after full dilution)
[yen]
Fiscal year ended March 31,2005 7,524 (40.0%) 14.11 -
Fiscal year ended March 31,2004 12,548 (23.4%) 26.48 -
  Net income to shareholders' equity Recurring profit to total assets Recurring profit to net sales
Fiscal year ended March 31,2005 2.2% 5.6% 5.0%
Fiscal year ended March 31,2004 4.9% 5.8% 5.0%
Notes:
 
1.
Equity in profit (loss) of unconsolidated subsidiaries and affiliates:
Fiscal year ended March 31,2005: ¥108 million
Fiscal year ended March 31,2004: ¥61 million
2.
Average number of shares outstanding during the period (consolidated):
Fiscal year ended March 31, 2005: 531,017,368
>Fiscal year ended March 31, 2004: 473,118,848
3.
Changes in accounting methods: No
4.
Percentages in the net sales, operating income, recurring profit, and net income columns indicate changes from the previous fiscal year.
5.
Although the Company (the former Konica Corporation) became a new holding company, Konica Minolta Holdings, Inc., on August 5, 2003, through an exchange of shares with Minolta Co., Ltd., for accounting purposes, this merger is deemed as occurring at the end of the interim term, and figures for Minolta Co., Ltd., have therefore not been included in consolidated earnings for the first half of the fiscal year ended March 31, 2004.

(2) Financial Position

[Millions of yen]

  Total assets Shareholders' equity Shareholders' equity ratio Shareholders' equity per share [yen]
Fiscal year ended March 31,2005 955,542 339,729 35.6% 639.80
Fiscal year ended March 31,2004 969,589 335,427 34.6% 631.54

Notes:
Number of shares outstanding at end of the period (consolidated):
March 31, 2005: 530,944,921
March 31, 2004: 531,095,460

(3) Cash Flows

[Millions of yen]

  Operating activities Investing activities Financing activities Cash and cash equivalents year-end
Fiscal year ended March 31,2005 55,680 (49,343) (31,614) 59,485
Fiscal year ended March 31,2004 55,957 (28,784) (33,149) 83,704

(4) Scope of Consolidation/Equity Method Accounting

Consolidated subsidiaries: 122
Unconsolidated subsidiaries accounted for by the equity method: 13
Affiliates accounted for by the equity method: 2

(5) Changes in Scope of Consolidation/Equity Method

Newly consolidated subsidiaries: 10
Subsidiaries excluded from consolidation: 10
Companies included in equity method accounting: -
Companies excluded from equity method accounting: 1

2. Consolidated Results Forecast for Fiscal Year Ending March 31, 2006
(April 1, 2005 to March 31, 2006)

[Millions of yen]

  Net sales Recurring profit Net income
Interim 530,000 29,000 7,000
Full-year 1,130,000 80,000 23,000

(Estimated net income per share: ¥43.32)

*
The above forecasts and those presented in appended material are based on future-oriented assumptions, projections, and targets, so they contain elements of risk and uncertainty. Actual results may differ from these forecasts due to various important elements. Please reference page 11 for items related to the above forecasts.

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