Notice Regarding Voluntary Adoption of International Financial Reporting Standards (IFRS)
To whom it may concern,
Company Name: Konica Minolta, Inc.
Representative: Shoei Yamana, 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 (April 18, 2014) - Konica Minolta, Inc. (the “Company”) announced that it has resolved at a meeting of the Board of Directors held today to voluntarily adopt the International Financial Reporting Standards (IFRS) for consolidated financial statements of Annual financial report from the fiscal year ending March 31, 2015 (fiscal year 2014, “FY2014”), in place of the Japanese Generally Accepted Accounting Principles (J-GAAP) previously adopted.
Please note, however, J-GAAP will be applied to consolidated financial results for the fiscal year ending March 31, 2015 (FY2014), as well as consolidated financial statements constructed in accordance with the Companies Act of Japan for the same period.
The Company has been conducted business operation globally. It has taken the decision to voluntarily adopt IFRS from the fiscal year ending March 31, 2015 because an implementation of IFRS as a global standard will contribute to unify accounting standards across the Konica Minolta group, improve the international comparability of financial information in the capital markets, and increase the convenience to various shareholders.
Our anticipated schedule toward the voluntary adoption of IFRS is as follows:
|May 2014||Consolidated financial results and consolidated financial statements of FY2013 (J-GAAP)*1|
|June 2014||Annual financial report of FY2013 (J-GAAP)|
|May 2015||Consolidated financial results and consolidated financial statements of FY2014 (J-GAAP)*2|
|June 2015||Annual financial report of FY2014 (IFRS)|
- Consolidated results forecast of FY2014 will be disclosed under J-GAAP.
- Consolidated financial results for the first quarter to the third quarter of FY2014 will be disclosed under J-GAAP.