Konica Minolta (TYO:4902) has completed its global structural reforms, designed to boost productivity and achieve objectives outlined in its Medium-term Business Plan for fiscal years 2023-2025, according to a Thursday filing on the Tokyo Stock Exchange.
The company reduced its workforce by 2,701, surpassing the initial target of 2,400. This includes 310 additional job cuts aimed at improving profitability.
The one-time expenses from the reforms totaled approximately 19 billion yen, about 1 billion yen below the original estimate.
The reforms are expected to increase business contribution profit by 10 billion yen in fiscal 2025 and 14 billion yen in fiscal 2026.
Shares of the company gained over 3% in recent trade.
Price (JPY): $447.40, Change: $+15, Percent Change: +3.54%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.