Konica Minolta Reports Mixed Results for FY 2021
According to Konica Minolta, revenue increased 5.6% year-over-year to JPY911.43 billion (US$7.07 billion) in the fiscal year ended March 31, 2022. Operating profit and profit attributable to owners of the company improved compared to last year but are still not a turnaround from loss.
In the fiscal year 2021, Konica Minolta operating profit registered a loss of JPY22.297 billion (US$173.01 million), while profit attributable to owners of the company reported a loss of JPY 26.12 billion (US$202.67 million). Profit for the year registered a loss of JPY26.21 billion (US$203.39 million).
Konica Minolta predicted that revenue was expected to grow 7.5% year-over-year to JPY980.00 billion (US$7.60 billion) in the fiscal year 2022 ending March 31, 2023. Operating profit was expected to be JPY15.00 billion (US$116.40 million), while profit attributable to owners of the company was expected to be JPY5.50 billion (US$42.68 million).
In Q3, Konica Minolta revenue turned out to be JPY ¥215.2 billion (US$1.89 billion) in Q2, up 2% year-over-year. Operating profit recovered by around net JPY ¥3.0 billion (US$26.34 million), when the effects of subsidies, etc., in Q2 were considered. The OEM reveals that industry profit remained high, and SG&A for the company overall remained under JPY¥100.0 billion (US$878.16 million).
“Despite a robust recovery in real demand, the order backlog (approx. JPY¥33.0 billion (US$289.80 million)) was high and revenue increased only slightly, mainly owing to delays in the procurement of semiconductors and other components,” said Shoei Yamana, President and CEO of Konica Minolta, commenting on its results for the second quarter that ended September 30, 2021.
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