Konica Minolta Set to Spend up to $460 Million on New Acquisitions

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The Nikkei Asian Review reports that Konica Minolta of Tokyo is set to spend as much as $460 million (50 billion yen) on mergers and acquisitions during its current fiscal year as it looks to invest in new growth areas.

Konica Minolta spent some 69 billion yen in its last fiscal year to acquire firms such as a display testing equipment maker and a medical-imaging technology company, both in the United States, This year, it acquired German video-surveillance company MOBOTIX, and is also expanding its share in MGI, a production-printer company.

The firm is said to be seeking to add new acquisitions in the health-care and functional-materials markets, and up to 30 billion yen in M&A deals.

The Nikkei Asian Review notes that Konica Minolta projects its operating profit to grow 10 percent to 66 billion yen for its current fiscal year, which ends in March 2016. Currently, about 55.2 percent of Konica Minolta’s 1.06 billion yen in sales is derived from office information equipment and solutions, such as copier/MFPs. With its acquisition of All Covered in 2011 , it’s also been seeking to expand into IT services for businesses.

For its fiscal 2020 year, the company plans to boost operating profit up to 150 billion yen on 1.5 trillion yen in sales.

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