Notice of Difference between Forecast and Actual Financial Results for the Year Ended March 31, 2016
Company Name: Konica Minolta, Inc.
Representative: Shoei Yamana, President and CEO
Stock Exchange Listings: Tokyo (First Section)
Local Securities Code Number: 4902
Contact: Tetsuya Hiruta, General Manager, Corporate Accounting Division
Tel: (81) 3-6250-2100
Tokyo (May 12, 2016) - Konica Minolta, Inc. announces the difference between the financial results forecast disclosed on October 29, 2015, and the actual financial results for the Fiscal Year ended March 31, 2016, as follows:
Difference between Forecast and Actual Financial Results for the Fiscal Year Ended March 31, 2016 (April 1, 2015 to March 31, 2016)
|Revenue||Operating profit||Profit attributable to owners of the company||Basic earnings per share|
|[Millions of yen]||[Millions of yen]||[Millions of yen]||[yen]|
|Forecast previously announced (A)||1,080,000||73,000||47,000||94.66|
|Increase (Decrease) (B-A)||(48,259)||(12,930)||(15,026)|
|Rate of change (%)||(4.5)||(17.7)||(32.0)|
|(Ref.) Results for the Fiscal Year Ended March 31, 2015||1,002,758||65,762||40,934||81.01|
Reasons for the Difference
Among the financial results for the Fiscal Year ended March 31, 2016, the revenue showed growth compared with the year-ago period but was not strong enough compared with the previously announced forecast, due to the yen’s continuing trend of strengthening against the US dollar, euro and other major currencies beyond the assumed exchange rates toward the end of the fiscal year and, in addition, the increasingly competitive environment in the US and European markets for the Business Technologies Business. For the performance materials in the Industrial Business, falling demand in emerging markets in the latter half of the fiscal year led to weaker market trend including a prolonging of the supply-chain inventory correction, and sales for large LCD televisions declined.
The operating profit decreased due to the yen’s appreciation against the euro toward the end of the fiscal year, posting costs related to the transformation in the focus of the business with a view to the more distant future, and, in addition, posting business structure improvement expenses for the next fiscal year.
The profit attributable to owners of the company was significantly lower than the previously announced forecast as a result of increase in tax expenses due to decreasing deferred tax assets in line with the domestic tax reform, in addition to the above mentioned factors.