Sales, Net Income up for Konica Minolta; Strong MFP, Production Sales

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Konica Minolta of Japan reported its latest financial results, with net sales up 18.2 percent and net income up 4.8 percent, both for the period of April 1, 2013 to December 31, 2013.

The firm reports that during this period in its Business Technologies Business, it enjoyed “solid sales” of core A3 color MFPs, while the effect of new product sales for monochrome units also helped “put the brakes” on a downward trend in sales volumes. Sales for hybrid-type MFPs that combine various business solution services with MFPs continued to penetrate the market and also contributed to sales growth of MFPs.

In the production print field, sales volumes of color units and monochrome units exceeded that the same period a year ago.

More specifically:

In its office-imaging business, sales of A3 color MFPs remained strong and sales volumes increased significantly in all regions, including Japan, the United States and Europe, while the composition ratio of high-segment models increased, thereby contributing to sales expansion. A new series of A3 monochrome units with the same user interface as color units was well received by the market and sales volumes turned around from a persistent downward trend to a year-on-year increase. Konica Minolta also expanded its business foundations for its OPS (Optimized Print Services), where it says it’s strengthening its systems on a global scale and pursuing differentiation in the business solution services, by securing large orders, particularly in Europe and the Asia-Pacific region.

For its production-printer business, sales volumes of color units and monochrome units exceeded that of the same period a year ago. Konica Minolta also says it expanded its business for on-demand print services for a wide variety of low-volume document production, as well as production and print services for sales-promotion materials by utilizing Kinko’s Japan and Charterhouse PM Limited, which Konica Minolta acquired during this period.

As a result, net sales for Konica Minolta’s Business Technologies Business to external customers was ¥526.2 billion, up 29.9 percent year-over-year. The firm says this was due to sales growth of core products, particularly color units, and a positive turnaround in product composition in addition to M&As and the effect of the yen’s continued depreciation. Operating income amounted to ¥43.5 billion, up 136.5 percent year-over-year. Contributing factors to this significant year-on-year gain were an increase in gross profit due to an increase in sales composition of high-value-added products and the effect of foreign-exchange rates in line with continued yen depreciation, coupled with the positive effect of measures to reduce costs in the production division.

Income

[Millions of yen]

Net sales Operating income Ordinary income Net income
3Q Mar/2014 682,876 18.2% 38,905 43.6% 36,736 40.7% 10,811 4.8%
3Q Mar/2013 577,727 3.1% 27,090 16.3% 26,117 38.2% 10,317 91.1%

Note:
3Q Mar/2014: ¥ 41,218 million (135.3%)
3Q Mar/2013: ¥ 17,520 million (- %)

Net income per share Net income per share(after full dilution)
3Q Mar/2014 20.39 yen 20.34 yen
3Q Mar/2013 19.46 yen 18.87 yen

Financial position

[Millions of yen]

Total assets Net assets Equity ratio (%)
December 31, 2013 997,683 498,618 49.8%
March 31, 2013 940,553 466,416 49.4%

Note: Shareholders’ equity
As of December 31, 2013: ¥ 496,886 million
As of March 31, 2013: ¥ 464,904 million

Dividends per Share (Yen)

1Q 2Q 3Q Year-end Total annual
FY Mar/2013 7.50 7.50 15.00
FY Mar/2014 10.00
FY Mar/2014 (forecast) 7.50 17.50

Note: Change to the latest dividend forecast announced:  None
Breakdown for dividends of 2Q Mar/2014
Common dividend: ¥ 7.50
Commemorative dividend: ¥ 2.50

Consolidated Results Forecast for Fiscal Year Ending March 31, 2014

(From April 1, 2013 to March 31, 2014)

Percentage figures for the full year represent the change from the previous fiscal year (millions of yen]

Net sales Operating income Ordinary income Net income Net income per share
Full-year 930,000 14.4% 58,000 42.6% 54,000 38.8% 18,000 19.0% 33.94 yen

Note: Change to the latest consolidated results forecast announced:  None

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