By Mariko Yasu and Yoshinori Eki
March 3 (Bloomberg) -- Konica Minolta Holdings Inc.’s profit this year may exceed the company’s forecast on sales of new printers and stronger demand for components, the president said.
“New models of color printers are improving our earnings even as the printer market continues to be severe,” President Masatoshi Matsuzaki said in an interview yesterday in Tokyo, where the company is based. “Our components division is also improving,” as demand for liquid-crystal displays started to pick up, he said, adding the company will probably beat its estimate for operating profit.
The maker of printers, scanners and film used in liquid- crystal displays in October forecast operating profit will fall 40 percent to 34 billion yen ($382 million) in the year ending March 31, mainly because of sluggish demand for office printers. The company is seeking a growth driver and aims to tap increasing demand for renewable-energy technologies.
Konica Minolta advanced 1.4 percent to 942 yen as of the 11 a.m. break on the Tokyo Stock Exchange after gaining as much as 2.1 percent. The benchmark Nikkei 225 Stock Average added 0.3 percent.
Konica Minolta invested $20 million in Lowell, Massachusetts-based solar technology company Konarka Technologies Ltd. as part of an alliance to produce solar panels, the companies said yesterday. They plan to form a venture in Japan to produce thin-film photovoltaic panels, according to a statement.
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