About Konica Minolta

Giving Shape to Ideas

Konica Corporation
Minolta Co., Ltd.
August 4, 2003

New Integrated Holding Company Konica Minolta Holdings, Inc. to Launch on August 5

Tokyo, Osaka (August 4, 2003) -- Konica Corporation (Fumio Iwai, president) and Minolta Co., Ltd. (Yoshikatsu Ota, president) will be launching Konica Minolta Holdings, Inc., a new integrated holding company formed by management integration, on August 5. 2003

This new holding company will be formed as a result of "the letter of intent for the management integration " signed on January 7, 2003 by Konica Corporation and Minolta Co., Ltd., and of a contract for the stock exchange signed by both companies on May 15, 2003, in accordance with decisions from the Boards of Directors Meetings of the both companies. Approval to enter into this contract was received at the general shareholders' meetings held by Konica Corporation on June 25, 2003, and Minolta Co., Ltd. on June 27, 2003.

As previously announced, under the management of Konica Minolta Holdings, Inc., the Company will be working to simultaneously reorganize its operations in the fields of image information products business, optical products business, camera business, photo imaging business, and instrument systems business, as well as its functions as a center for technology, its functions in the area of business expertise, and the strategic and managerial functions of the Group as a whole. This reorganization is targeted for completion by October 1, 2003, and will serve as the basis for the formation of a new corporate group.

  1. Background and Objectives of the Management Integration
    In the area of imaging, digitization and networking are expediting, technology and product developments are taking place at increasingly greater speeds, and market needs are changing drastically. In order to survive amidst today’s global competition, with increasing emergence of other industries, we must aggressively form strategic alliances that enhance its strengths, and must do so in a timely manner.

    The launch of the new holding company which results from this integration of management will combine the respective strengths of Konica Corporation and Minolta Co., Ltd., enhancing both the competitive business capabilities and earning capacity of the Company, and will also maximize corporate value by practicing the corporate portfolio management. Thus, one of the primary objectives of this management integration is to ensure a strong and solid position within the industry.

    The new company will also adopt a company-with-committee system with the goals of allowing for the separation of management audit from the executive function, and achieving a highly transparent managerial system.

  2. Overview of Konica Minolta Holdings, Inc.

    1) Management Philosophy: The Creation of New Value

    2) Management Visions:
    --Innovative Corporation That Continues to Create Impressions in the Field of Imaging.
    --A Global Market Leader That Offers Advanced Technology and Reliability.

    3) Corporate Message: "The essentials of imaging"

    1) Trade Name: Konica Minolta Holdings, Inc.

    2) Description of Business:
    As a holding company of the Konica Minolta Group, Konica Minolta Holdings, Inc. will handle the control of Group business through the corporate portfolio management as well as the management of corporate strategies, finances, and other areas of lateral business management for the Group as a whole, with the goal of maximizing corporate value.

    3) Location of Corporate Headquarters:
    Marunouchi Center Building, 1-6-1 Marunouchi, Chiyoda-ku, Tokyo
    *From August 5, 2003 through August 24, 2003
    Shinjuku Nomura Building, 26-2, Nishishinjuku 1-chome, Shinjuku-ku, Tokyo

    4) Corporate Representatives:
    President & CEO, Representative Executive Officer: Fumio Iwai
    Vice President, Representative Executive Officer: Yoshikatsu Ota

    5) Number of Executives:
    12 Directors, 26 Executive Officers (including five who also serve as directors)

    6) Number of Employees: approximately 150

    7) Capital: ¥37,519,000,000

    8) Total Number of Shares Authorized to be Issued: 1.2 billion

    9) Closing Date: Once a year on March 31

  3. Changes in the Number of Shares Constituting One Voting Unit
    The number of shares constituting one voting unit will be changed based on the contract for the stock exchange, which was signed based on a decision of the Board of Directors meetings of both Konica Corporation and Minolta Co., Ltd. held on May 15, 2003, and the signing of which was approved by the general shareholders' meetings held by Konica Corporation on June 25, 2003, and Minolta Co., Ltd. on June 27, 2003.

    1) Reason for the Change
    This change is being implemented to further promote the distribution of Konica Minolta Holdings, Inc. stock and to broaden the investor base.

    2) Details of the Change
    The number of shares constituting one voting unit will be changed from 1,000 shares to 500 shares.

    3) Effective Date
    August 5, 2003

    The units of exchange for Konica Minolta Holdings, Inc. on the Tokyo, Osaka and Nagoya Stock Exchanges will also be changed to 500 shares as of August 5, 2003.

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