Konica Minolta releases FY21 results
May 13, 2022
The company said that while demand recovered from the previous year, it still saw the impact of COVID-19 was significant.
Konica Minolta’s fiscal year was affected by COVID, FOREX, impact of tight semiconductor supply, prolonged logistics transportation periods and accidents at a toner factory. However, the company achieved revenue of ¥911.4 billion ($7.1 billion/ €6.8 billion).
Konica Minolta added: “Although we adjusted some prices, expenses increased and profit decreased owing to the spike in logistics costs (including higher air freight) and component expenses.”
In the Digital Workplace segment, revenues in the full year 2021 was ¥465.4 billion ($3.6 billion/ €3.5 billion), pretty much the same as the same period of the previous fiscal year.
Konica Minolta said that with its forecasts it targets higher revenue for fiscal year 2022, revenue of ¥980 billion ($7.6 billion/ €7.3 billion), but is expecting significant impact in Q1 from tight supply of semiconductors and other components, prolonged logistics transportation periods, and lockdowns in China.
Categories : City News
Tags : Business Financials Konica Minolta Loss OEM Sales
