Konica Minolta returns to the final deficit for the first time in 14 years. Sales of multi-function devices decreased due to the new Corona 12:40 on May 12
Konica Minolta has downwardly revised its earnings forecast for the fiscal year ending March 31, due to the decline in sales of its mainstay multifunction devices due to the worldwide spread of the new coronavirus. It is now expected to fall into the red by 3.5 billion yen.
According to the announcement, Konica Minolta has downwardly revised its earnings forecast for the fiscal year ending March 31, 2015, and sales are expected to be 995 billion yen, which is 50 billion yen less than the previous forecast.
In addition, we are forecasting that the final loss will be ¥ 3.5 billion, a decrease of ¥ 11.0 billion from the previous forecast of ¥ 7.5 billion.
The final deficit is the first in 14 years since the fiscal year ended March 2006, when we recorded a loss associated with the withdrawal from the camera and film business.
The main reason for the deterioration in business performance is that sales of mainstay multifunction devices and other products fell short of plan due to the spread of new coronavirus infections worldwide.
Following a downward revision, Konica Minolta has decided to voluntarily return part of the compensation for the president and executive officers.
In addition, as the impact of the new coronavirus is expected to continue for a long time, the company said that it is proceeding with efforts to increase its cash reserves by raising 85 billion yen from financial institutions last month.