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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.
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