Konica Minolta first-half net income down 22%; | Print4Pay Hotel

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Konica Minolta first-half net income down 22%; cuts forecast

By Chris Oliver
Last update: 8:34 a.m. EDT Oct. 30, 2008
HONG KONG (MarketWatch) -- Konica Minolta Holdings Inc. (JP:4902:JP:4902
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JP:4902, , ) 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.

10/31/089:32 AM

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