KONICA MINOLTA Financial Results 2020

(Amounts less than one million yen are rounded down to the nearest million yen.)

1. Consolidated financial results for the fiscal year ended March 31, 2020 (from April 1, 2019 to March 31, 2020)

(1) Consolidated results of operations

(Percentage figures represent changes from the previous fiscal year.)
Fiscal year ended	Revenue		Operating profit		Profit before tax
Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%
March 31, 2020	996,101	-6.0	8,211	-86.8	284	-99.5
March 31, 2019	1,059,120	2.7	62,444	16.0	60,138	22.4

Fiscal year ended	Profit for the year		Profit attributable to owners of the Company		Total comprehensive income
Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%
March 31, 2020	(3,086)	-	(3,073)	-	(24,628)	-
March 31, 2019	41,729	29.6	41,705	29.3	41,654	20.2

Fiscal year ended	Basic earnings per share	Diluted earnings per share	Profit ratio to equity attributable to owners of the Company	Profit before tax ratio to total assets	Operating profit ratio
Fiscal year ended	Yen	Yen	%	%	%
March 31, 2020	(6.21)	(6.21)	-0.6	0.0	0.8
March 31, 2019	84.33	84.03	7.7	5.0	5.9

(Reference)Share of profit (loss) of investments accounted for using the equity method:
Fiscal year ended March 31, 2020: (255) million yen
Fiscal year ended March 31, 2019: (624) million yen

(Note)Basic earnings per share and diluted earnings per share are calculated based on the profit attributable to owners of Konica Minolta, Inc. (the “Company”).

(2) Consolidated financial position

As of	Total assets	Total equity	Equity attributable to owners of the Company	Equity ratio attributable to owners of the Company	Equity per share attributable to owners of the Company
As of	Millions of yen	Millions of yen	Millions of yen	%	Yen
March 31, 2020	1,276,768	533,766	523,745	41.0	1,058.29
March 31, 2019	1,218,986	565,983	555,689	45.6	1,123.39

(3) Consolidated cash flows

Fiscal year ended	Cash flows from operating activities	Cash flows from investing activities	Cash flows from financing activities	Cash and cash equivalents at the end of the year
Fiscal year ended	Millions of yen	Millions of yen	Millions of yen	Millions of yen
March 31, 2020	30,148	(50,043)	(11,910)	89,901
March 31, 2019	57,166	(41,480)	(40,246)	124,830

2. Dividends per share

	End of the three-month period	End of the six-month period	End of the nine-month period	End of the year	Total
	Yen	Yen	Yen	Yen	Yen
Fiscal year ended March 31, 2019	-	15.00	-	15.00	30.00
Fiscal year ended March 31, 2020	-	15.00	-	10.00	25.00
Fiscal year ending March 31, 2021 (forecast)	-	-	-	-	-

	Dividends paid (annual)	Dividends payout ratio (consolidated)	Dividends on equity attributable to owners of the Company ratio (consolidated)
	Millions of yen	%	%
Fiscal year ended March 31, 2019	14,876	35.6	2.7
Fiscal year ending March 31, 2020	12,400	-	2.3
Fiscal year ended March 31, 2021 (forecast)		-

(Note)Dividend forecast for the fiscal year ending March 31, 2021 remains undetermined, given that it is difficult to project business results at this time.

3. Consolidated forecasts for the fiscal year ending March 31, 2021 (From April 1, 2020 to March 31, 2021)

Consolidated forecasts for the fiscal year ending March 31, 2021 remain undetermined, given that it is difficult to reasonably assess the impact of the spread of COVID-19 at this time. The Company will announce a forecast as soon as it becomes possible to project business results.

■ Notes

Changes in significant subsidiaries during the fiscal year ended March 31, 2020 (changes in the scope of consolidation): None
Changes in accounting policies or changes in accounting estimates
- a. Changes in accounting policies required by International
  Financial Reporting Standards (IFRS): Yes
- b. Changes in accounting policies other than the above a.: None
- c. Changes in accounting estimates: None
Number of issued and outstanding shares (common stock)
- a. Number of issued and outstanding shares (including treasury shares)
  As of March 31, 2020: 502,664,337 shares
  As of March 31, 2019: 502,664,337 shares
- b. Number of treasury shares
  As of March 31, 2020: 7,764,241 shares
  As of March 31, 2019: 8,008,984 shares
- c. Average number of issued and outstanding shares during the year
  The fiscal year ended March 31, 2020: 494,794,257 shares
  The fiscal year ended March 31, 2019: 494,572,664 shares

(Note)The Company has established the Board Incentive Plan in which beneficiaries include Directors, Executive Officers, Group Executives, and Technology Fellows. The shares owned by the trust account relating to this trust of 1,184,094 shares as of March 31, 2020, and 1,250,538 shares as of March 31, 2019, are accounted for as treasury shares.

(Reference) Overview of non-consolidated financial results

1. Non-consolidated financial results for the fiscal year ended March 31, 2020 (from April 1, 2019 to March 31, 2020)

(1) Non-consolidated results of operations

(Percentage figures represent changes from the previous fiscal year.)
Fiscal year ended	Revenue		Operating profit		Ordinary income
Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%
March 31, 2020	430,914	-4.8	(1,614)	-	12,545	57.3
March 31, 2019	452,680	3.8	5,745	-	7,976	4.2

Fiscal year ended	Net income		Net income per share	Net income per share (fully-diluted)
Fiscal year ended	Millions of yen	%	Yen	Yen
March 31, 2020	12,100	57.2	24.45	24.38
March 31, 2019	7,695	-39.7	15.56	15.50

(2) Non-consolidated financial position

As of	Total assets	Total equity	Equity ratio	Net assets per share
As of	Millions of yen	Millions of yen	%	Yen
March 31, 2020	751,295	329,468	43.8	664.25
March 31, 2019	766,679	335,001	43.6	675.55

(Reference)Equity:
Fiscal year ended March 31, 2020: 328,739 million yen
Fiscal year ended March 31, 2019: 334,165 million yen

■ This summary of consolidated financial results falls outside the scope of audit procedures to be performed by certified public accountants or an audit firm.

■ Explanation concerning the appropriate use of the forecasts for results of operations and other special matters

(Note on the forecasts for the consolidated financial results)

The forecasts for results of operations in this report are based on information currently available to the Company and its subsidiaries (the “Group”), and assumptions determined to be reasonable, and are not intended to assure achievement of the Group’s operations. Consolidated forecasts for the fiscal year ending March 31, 2021, remain undetermined, given that it is difficult to reasonably assess the impact of the spread of COVID-19 at this time. The Company will announce a forecast as soon as it becomes possible to project business results. For further discussion on forecasts, refer to “1. OVERVIEW OF FINANCIAL RESULTS, (1) Overview of Consolidated Operating Results, c. Outlook for the Fiscal Year Ending March 31, 2021” in the attached Supplementary Information on page 8.

(Supplementary information for the financial results and briefing on the financial results)

The Company will hold a briefing on the financial results for institutional investors on Tuesday, May 26, 2020. The proceedings and details of the briefing, along with the supplementary information on the financial results to be presented at the briefing, will be posted on the website of the Group soon after the briefing.

(Scheduled date for the submission of securities report)

The scheduled date for the submission of securities report is yet to be determined. The Company is currently considering the timing of submission, pursuant to Paragraph 4 of the Article of “The Partial Revision of “Cabinet Office Order on Disclosure of Corporate Affairs” (Cabinet Office Ordinance No.37, April 17, 2020).