Konica Minolta, Inc. (TSE: 4902), the Tokyo-based maker of office multifunction printers and digital workplace solutions, professional and industrial printing systems, and imaging, sensing and materials products, reported a decisive turnaround for FY2026 (April 2025 – March 2026) on May 14, 2026. Under IFRS, the company posted operating profit of ¥49,869 million from continuing operations, reversing an operating loss of ¥64,014 million the prior year. Profit before tax came in at ¥43,411 million against a pre-tax loss of ¥79,156 million, while profit attributable to owners of the parent reached ¥30,268 million, compared with a net loss of ¥47,484 million in FY2025. Basic earnings per share were ¥61.25, versus a loss per share of ¥95.98 a year earlier, and return on equity recovered to 6.1%.
Revenue from continuing operations eased 3.6% to ¥1,087,738 million from ¥1,127,882 million, reflecting selective portfolio pruning and softer top-line demand in parts of the office segment. Profitability, however, improved sharply: the company's preferred operating gauge, "business contribution profit" — revenue less cost of goods sold and selling, general and administrative expenses — rose 66.6% to ¥53,190 million, underscoring that the recovery was driven by margin discipline rather than volume growth. Comprehensive income swung to a positive ¥79,155 million from a loss of ¥76,913 million.
What drove the turnaround: restructuring and cost discipline
The return to profit was powered chiefly by the restructuring program Konica Minolta executed after its heavy prior-year loss. Cost reductions across the office and professional-print businesses, a leaner operating base, and tighter selling, general and administrative spending combined to expand margins even as revenue contracted. The prior year had been weighed down by impairment and one-off charges that pushed the group deep into the red; with those burdens cleared and the cost base reset, the same revenue scale now converts into meaningfully higher operating leverage. The sharp jump in business contribution profit — up two-thirds — is the clearest evidence that the structural cost actions, rather than a demand rebound, are behind the recovery.
Precision Medicine classified as discontinued operation
As part of its portfolio reshaping, Konica Minolta classified its Precision Medicine business as a discontinued operation, removing it from continuing-operations results. The move sharpens the group's focus on its core imaging, office, professional-print and sensing-and-materials franchises, and is consistent with management's strategy of exiting capital-intensive, non-core ventures that had contributed to prior losses. The continuing-operations figures presented above therefore reflect the slimmed-down ongoing portfolio.
Balance sheet steady; operating cash flow strengthens
Total assets edged up to ¥1,234,909 million from ¥1,217,641 million a year earlier. Total equity stood at ¥548,971 million, of which equity attributable to owners of the parent was ¥536,505 million, lifting the equity ratio to 43.4%; equity per share reached ¥1,085.64. Cash generation improved markedly: operating cash flow rose to ¥86,286 million from ¥51,093 million, well ahead of the ¥30.3 billion of net income and a sign of healthy earnings quality. Investing activities used -¥34,017 million and financing activities used -¥40,267 million, the latter reflecting debt management and dividend payments. Cash and equivalents ended the year at ¥110,762 million.
Dividend raised to ¥18; FY2027 guided for steady profit
Reflecting the restored profitability, Konica Minolta raised its annual dividend to ¥18 per share for FY2026 (¥9 interim + ¥9 year-end), up from ¥12 the prior year, for total dividends of ¥5,961 million and a payout ratio of 19.6%. For FY2027 (ending March 2027), the company guided for revenue of ¥1,105,000 million (+1.6%), business contribution profit of ¥56,000 million (+5.3%), operating profit of ¥50,000 million (+0.3%), and profit attributable to owners of the parent of ¥28,500 million (-5.8%), equivalent to EPS of ¥57.67. The outlook points to a return to modest top-line growth and continued margin gains, with the slight dip in bottom-line guidance reflecting normalising tax and below-the-line items rather than operational weakness.
| Metric | FY2026 | FY2025 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 1,087,738 | 1,127,882 | −3.6% |
| Operating profit (¥ million) | 49,869 | −64,014 | Returned to profit |
| Profit before tax (¥ million) | 43,411 | −79,156 | Returned to profit |
| Profit attrib. to owners (¥ million) | 30,268 | −47,484 | Returned to profit |
| EPS (¥) | 61.25 | −95.98 | Returned to profit |
| Business contribution profit (¥ million) | 53,190 | 31,927 | +66.6% |
| Equity ratio | 43.4% | — | — |
| Operating cash flow (¥ million) | 86,286 | 51,093 | +68.9% |
| Annual dividend (¥) | 18 | 12 | +50.0% |
| FY2027 guidance — revenue (¥ million) | 1,105,000 | — | +1.6% |
| FY2027 guidance — operating profit (¥ million) | 50,000 | — | +0.3% |
| FY2027 guidance — profit attrib. to owners (¥ million) | 28,500 | — | −5.8% |
| FY2027 guidance — EPS (¥) | 57.67 | — | — |
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