KONICA MINOLTA

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Financial Results / Presentation Materials 2004

(Millions of yen)

  April 1, 2002-
March 31, 2003
[Amount]
April 1, 2003-
March 31, 2004
[Amount]
I. Cash flows from operating activities    
    Net income before income taxes and minority interests 24,728 32,363
    Depreciation and amortization 28,497 44,386
    Amortization of consolidated goodwill - 2,869
    Increase (decrease) in allowance for doubtful accounts (2,163) (3,846)
    Interest and dividend income (1,051) (1,003)
    Interest expense 4,484 5,190
    Loss (gain) on sales or disposals of tangible fixed assets 3,112 2,477
    Valuation loss (gain) on investment securities 2,167 574
    Transition obligations due to adoption of new accounting
    standards for retirement benefits
1,325 1,540
    Gain on return of proxy portion of national
    employees' pension fund
(8,081) -
    Special premium for withdrawal from national
    employee's pension fund
543 513
    Transfers to reserve for deferred pension and past service
    recognition payments to directors
- 513
    Management integration rationalization expenses - 5,022
    Expenses related to switch of defined contribution benefit plan 2,993 180
    Provision of reserve for reorganization/liquidation expenses 5,637 -
    Decrease (increase) in trade notes and accounts receivable 7,686 (3,210)
    Decrease (increase) in inventories 2,187 (2,914)
    Increase (decrease) in trade notes and accounts payable 3,337 (1,060)
    Increase (decrease) in accrued consumption tax payable 155 (738)
    Other 4,991 (4,613)
    Subtotal 80,552 78,243
    Interest and dividends received 1,506 1,363
    Interest paid (4,653) (5,263)
    Income taxes paid (10,968) (18,385)
    Net cash provided by operating activities 66,437 55,957
II. Cash flows from investing activities    
     Payment for acquisition of tangible fixed assets (29,545) (24,935)
     Proceeds from sale of tangible fixed assets 2,177 6,102
     Payment for acquisition of intangible fixed assets (3,669) (6,383)
     Payment for borrowings (5,743) (1,451)
     Proceeds from loan recovery 2,963 460
     Payment for acquisition of investment securities (706) (39)
     Proceeds from sale of investment securities 746 225
     Payment for other investments (3,533) (3,296)
     Other (18) 533
     Net cash used in by investing activities (37,328) (28,784)
III. Cash flows from financing activities    
      Net (decrease) increase in short-term loans payable (19,551) (11,090)
      Proceeds from long-term loans payable 16,000 674
      Repayment of long-term loans payable (3,300) (13,006)
      Redemption of bonds (15,354) (5,054)
      Income from addition to capital by minority investor 1,300 -
      Payment to execute buyback of Company's stock (204) (286)
      Proceeds from sale of Company's stock - 44
      Dividend payments (3,576) (4,430)
      Net cash used in financing activities (24,685) (33,149)
IV. Translation differences on cash and cash equivalents (206) (1,317)
V. Increase (decrease) in cash and cash equivalents 4,216 (7,292)
VI. Cash and cash equivalents at beginning of the period 47,659 51,876
VII. Increase in cash and cash equivalents due to newly
      consolidation subsidiaries
- 667
VIII. Increase in cash and cash equivalents due to
      exchange of shares
- 38,453
IX. Cash and cash equivalents at end of the period 51,876 83,704

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