Japan-based pioneer in providing imaging and networking technologies solutions, Konica Minolta has posted an increase of 2.9 per cent in revenue to ¥ 1,031,740 in the fiscal year ended March 31, 2016 as compared to ¥ 1,002,758 in the previous fiscal year. However, the technology provider missed its initial revenue, primarily due to strengthening Yen as compared to other major currencies.
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Besides this, operating profit at Konica Minolta in the period under consideration plunged 8.7 per cent to ¥ 60,069 million as against ¥ 65,762 million in the prior fiscal. Profit for the year was ¥ 32,000 million as compared to ¥ 40,969 million previously, noting a fall of 21.9 per cent.
The company said that in Europe, where economic stimulus measures such as monetary easing had led to a gradual recovery, the end of the fiscal year saw a slight drop in the economic upswing. However, in the Japanese economy, corporate results are on an improving trend but due to the impact of the deceleration in emerging economies, manufacturing activity was sluggish.
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Headquartered in Tokyo, Konica Minolta manufactures business and industrial imaging products, including copiers, laser printers, multi-functional peripherals (MFPs) and digital print systems for the production printing market.
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