Konica Minolta Revenue Falls 28.4%

Konica Minolta Revenue Falls 28.4%

Due to the impact of the COVID-19 crisis, Konica Minolta recorded revenue of 173.1 billion yen (US$1.63 billion) in the first three months ended June 30, 2020 (the current period), a 28.4% year-on-year decline.

Operating loss during the current period was 22.6 billion yen (US$212.97 million), a substantial decrease year-on-year (operating profit of 0.5 billion yen (US$4.71 million) was marked in the same period of the previous fiscal year). The impact of COVID-19 on the operating profit is expected to be around 30.0 billion yen (US$282.68 million) in the current period.

Loss before tax of 23.8 billion yen (US$224.26 million) was marked in the current period (whereas loss before tax was 1.3 billion yen (US$12.25 million) in the same period of the previous fiscal year). Loss attributable to owners of the Company was 17.3 billion yen (US$163.01 million) (whereas loss attributable to owners of the Company was 1.2 billion yen (US$11.31 million) in the same period of the previous fiscal year).

By segment, Office Business segment recorded revenue of 93.9 billion yen (US$884.89 million), a decrease of 30.2% year-on-year. Operating loss was 7.5 billion yen (US$70.68 million) (operating profit of 7.6 billion yen (US$71.62 million) for the same period in the previous fiscal year).

The Professional Print Business segment recorded revenue of 31.7 billion yen (US$7298.73 million), a decrease of 37.2% year-on-year. Operating loss was 7.0 billion yen (US$65.97 million) (operating profit of 1.0 billion yen (US$ 9.42 million)  for the same period in the previous fiscal year).

As for the outlook for the future, the Company claims it will refrain from releasing the forecast for the fiscal year ending March 31, 2021. The Company will announce a forecast as soon as it becomes possible to reasonably project business results.

Related:

• Konica Minolta Takes Big Dive for Fiscal Year 2019

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