Konica Minolta first-half net income down 22%; cuts forecast Oct.
2008 — Konica Minolta Holdings Inc.said Thursday net income for the
fist half ended Sept. 30 fell 22% because of softer corporate orders
for copiers amid the global slowdown, a stronger yen, falling product
prices and higher commodity prices. The Tokyo-based maker of copiers,
cameras and electronic components said net income fell to 29.28 billion
yen ($297.46 million) from 37.64 billion yen a year earlier. Sales were
up 1.5% to 532.97 billion yen. Konica Minolta cut its net profit
outlook by 40% to 42 billion yen from its May forecast of 70 billion
yen. Sales for the fiscal year are expected at 1.04 trillion yen,
compared to its earlier forecast of 1.11 trillion yen.