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Konica Minolta Group’s Consumer Imaging Business Companies to Merge on April 1, 2004
Konica Minolta Photo Imaging, Inc. (president: Hideaki Iwama, herein after PI) and Konica Minolta Camera, Inc. (president: Hiroshi Fujii, herein after CA), at the special board of directors’ meetings of the both companies held today, decided to conclude merger agreement between the two companies and then signed the agreement. The merger agreement was then approved at the special shareholders’ meetings of the both companies, and the new business company, Konica Minolta Photo Imaging, Inc. will be formed on April 1, 2004.
The aim of the merger between PI and CA:
After Konica Minolta Holdings, Inc. was formed on August 5, 2003 through a management integration of Konica Corporation and Minolta Co., Ltd., both PI and CA were formed as separate business companies through reorganization within the Konica Minolta Group on October 1, 2003. The two companies have been planned to merge in April 2004 ever since the beginning to maximize synergy effects in the consumer imaging market.
The new company will provide a total digital photo imaging solutions for consumer market, from input through output, to create new value and continue to provide inspiring products and services to customers. Furthermore, the new company will promote Konica Minolta brand image through its operations.
In addition, the new company will pursue to become creative imaging solution company which provide value-added products and services to customers in the field of photo imaging.
The outline of the newly merged business company, Konica Minolta Photo Imaging, Inc.
Company Name: Konica Minolta Photo Imaging, Inc. Representative: President and CEO, Hideaki Iwama Head Office: Shinjuku-ku, Tokyo Establishment: April 1, 2004 Capital: 500 million yen Sales (forecast): Approx. 300 billion yen (simple accumulation of the both companies FY2003 estimated sales) Employees: Approx. 7,200 (including consolidated subsidiaries) Fiscal yearend: March 31 Shareholder: Konica Minolta Holdings, Inc.: 100% Major Business: Manufacturing, sales, and related services of consumer and commercial photographic materials, ID photo system, inkjet media, and other related equipment
Manufacturing, sales and related services of digital cameras, film cameras, lenses and other related photo equipmentreference:Outlines of PI and CA
Company Name: Konica Minolta Photo Imaging, Inc. Konica Minolta Camera, Inc. Representative: President and CEO, Hideaki Iwama President and CEO, Hiroshi Fujii Head Office: Hino,Tokyo Sakai, Osaka Establishment: April 1, 2003 April 1, 2003 Capital: 500 million yen 500 million yen Employees: Approx. 3,470 (including consolidated subsidiaries, as of October, 2003) Approx. 3,730 (including consolidated subsidiaries, as of October 2003) Fiscal yearend: March 31 March 31 Shareholder: Konica Minolta Holdings, Inc.: 100% Konica Minolta Holdings, Inc.: 100% Major Business: Manufacturing, sales, and related services of consumer and commercial photographic materials, ID photo system, inkjet media, and other related equipment Manufacturing, sales and related services of digital cameras cameras, film cameras, lenses and other related photo equipment Cautionary Statement Regarding Forward-Looking Statements:
This press release includes forward-looking statements that reflect the plans and expectations of Konica Minolta Holdings, Inc. To the extent that statements in this press release do not relate to historical or current facts, they constitute forward-looking statements. The forward-looking statements are based on the current assumptions and beliefs of Konica Minolta Holdings, Inc. in light of the information available to it, and involve known and unknown risks and uncertainties. Potential risks and uncertainties include, but are not limited to, the ability of Konica Minolta Holdings, Inc. to integrate the operations of Konica Corporation and Minolta Co., Ltd. effectively, as well as the factors identified under “Forward-Looking Statements” of the Annual Report 2002 of Konica Corporation and “Disclaimer Regarding Forward-Looking Statements” of the Annual Report 2002 of Minolta Co., Ltd. Such risks, uncertainties and other factors may cause the actual results, performance or financial position of Konica Minolta Holdings, Inc. to differ materially from those expressed or implied in the forward-looking statements. Konica Minolta Holdings, Inc. undertakes no obligation to update publicly any forward-looking statements after the date of this press release.
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