Notice of Revision of Consolidated Financial Results Forecast for the Year Ending
March 31, 2014
Company Name: Konica Minolta, Inc.
Representative: Masatoshi Matsuzaki, President and CEO
Stock Exchange Listing: Tokyo (First Section)
Local Securities Code Number: 4902
Contact: Yuki Kobayashi, General Manager, CSR, Corporate Communications & Branding Division
Tel: (81) 3-6250-2100
Tokyo (October 31, 2013) - Konica Minolta, Inc. (“The Company”) today announced the revision of its consolidated financial results forecast for the entire Fiscal Year ending March 31, 2014 (April 1, 2013 to March 31, 2014) announced on May 10, 2013 as follows:
Revised forecast of the consolidated financial results forecast for the Fiscal Year ending March 31, 2014 (April 1, 2013 to March 31, 2014)
|Net Sales||Operating Income||Ordinary Income||Net Income||Net Income Per Share|
|(Millions of yen)||(Millions of yen)||(Millions of yen)||(Millions of yen)||(yen)|
|Forecast Previously Announced (A)||900,000||55,000||53,000||26,000||49.03|
|Current Forecast (B)||930,000||58,000||54,000||18,000||33.94|
|Increase (Decrease) (B-A)||30,000||3,000||1,000||(8,000)|
|Rate of Change (%)||3.3||5.5||1.9||(30.8)|
|(Ref.) Results for Fiscal Year ended March 31, 2013||813,073||40,659||38,901||15,124||28.52|
Assumed exchange rate in the third quarter and thereafter: US dollar at 98 yen (previous forecast at 93 yen); Euro at 128 yen (previous forecast at 123 yen)
Reasons for the revision
In the financial results during the second quarter of the consolidated fiscal year (July 1, 2013 to September 30, 2013), sales remained strong for A3 color MFPs (Multi-functional peripherals) in Japan and overseas markets in the Business Technology Business and, along with the impact of foreign exchange rates and corrections to the high yen, the actual results have exceeded the Company's initial estimate. Based on that, net sales, operating income and ordinary income have been respectively revised upward.
On the other hand, at the meeting held today, the Board of Directors adopted the resolution to withdraw from the glass substrates for HDDs business that constitutes part of the Company's Industrial Business. As the Company hereby recorded 16.8 billion yen of loss on business withdrawal as extraordinary loss in the second quarter, net income for the entire fiscal year ending March 31, 2014 has been revised downward.
The above financial results forecasts are based on the assumptions that the Company believes to be reasonable at the time of this announcement. It should be noted that actual results may differ from this forecast due to various factors.