Print giant says the business environment surrounding the company has changed "dramatically” since the Covid outbreak. In naming Toshimitsu Taiko as its new president and CEO, Konica Minolta said turning around its core businesses of office and production print was now “an urgent management issue.”
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| Konica Minolta headquarters in Tokyo, Japan |
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| "Cool head, warm heart": Toshimitsu Taiko, incoming CEO and president Konica Minolta |
“Since the Covid-19 outbreak in 2020, people's values and behavioural changes have progressed, and the business environment surrounding the company has changed dramatically,” Konica Minolta said in a statement from its headquarters in Tokyo.
“Turning around the Office and Production Print Businesses, as the company’s core businesses, as soon as possible, and further enhancing the Industry Business that drives earnings generation, Healthcare Business and Industrial Business are an urgent management issue. In order to complete the medium-term business portfolio transformation and simultaneously resolve short-term issues, it is necessary to further strengthen execution capabilities and accelerate it.
“The decision has been made that, in enhancing the corporate value, it is appropriate to change President & CEO, Representative Executive.”
Toshimitsu Taiko, former senior executive vice president, has been named the new CEO and president from April 1, replacing former CEO and president Shoei Yamana, who becomes executive chairman.
“Toshimitsu Taiko has led the Business Technologies Business, the mainstay of Konica Minolta, including management at overseas subsidiaries,” KM said. “During that time, Taiko put the new businesses on a steady track and maintained existing businesses, while bringing together complex organizations.”
Taiko meets “leadership requirements and possesses, as trait, abilities including ‘setting examples worth following,’ ‘listening attentively,’ and ‘Cool Head, Warm Heart,'" the company added.
Taiko said: “With the appointment of President & CEO, Representative Executive Officer, I feel so humbled by the great responsibilities in leading the company. After the integration of Konica and Minolta in 2003, I joined the executive team and have walked through Konica Minolta's history. Konica Minolta has anticipated changes in society, transformed its business portfolio, and created social values. Today, again in the midst of the transformation, there is no change in our philosophy to deliver socially meaningful value on the basis of our sublime technological capabilities.
“Until FY2025, we will complete the transformation of our business portfolio. At the same time, I will listen sincerely to the opinions of our stakeholders, including customers, employees, communities, stockholders, and business partners, and improve Konica Minolta's corporate value through dialogue. The company has strengthened its sustainability. We believe contributing to the realization of a sustainable society where everyone can live with a purpose is the only way to achieve the sustainable growth of the company.”
In its latest financial reports early this month, the company posted an operating loss of 10 billion yen for the nine months ended December 31, 2021, despite a 7% rise in revenue:
“In the nine months ended December 31, 2021, the global economy was affected by the rebound of mutated strains of COVID-19, a shortage of semiconductors and other material, and soaring energy prices. The Group recorded a revenue of 661.5 billion yen, an increase of 7.6% year-on-year during the current period. Gross profit also went up by 9.8% year-on-year. Operating loss went down by 14.4 billion yen to 10.1 billion yen, a decrease of loss year-on-year since operating loss of 24.6 billion yen was marked in the same period of the previous year.”
https://www.konicaminolta.com.au
