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 user 2005-09-13 at 10:39:00 am Views: 46
  • #12809

    Japan’s Konica Minolta to liquiDate Canadian unit; sees no financial impact

    TOKYO  – Konica
    Minolta Holdings Inc said it has decided to liquidate a wholly-owned
    Canadian unit that sells digital cameras because of stiffer competition.

    Konica Minolta Holdings, which makes office equipment and digital
    cameras, said the winding-up will not affect its forecasts for the year
    to March 2006.

    In August, the company forecast a full-year net profit of 23 bln yen
    and current profit of 80 bln yen on revenue of 1.13 trln yen.

    The Canadian unit, Konica Minolta Photo Imaging Canada Inc, capitalized
    at 5.66 mln cad, will be liquidated at a yet-to-decided date, subject
    to regulatory procedures.

    Konica Minolta Holdings said that it will seek partners that can
    distribute its digital cameras in Canada. It did not elaborate.