Konica Minolta announces management vison
December 1, 2020
Konica Minolta, Inc. announced its reorganised management vision and medium- to long-term management strategies.
Konica Minolta said it will work on enhancing motivation and satisfaction through work and corporate vitalisation, achieving healthy and high quality of life, ensuring social security and safety, effectively utilising limited resources, thereby addressing future social challenges in 2030 and beyond. The company said it will enhance corporate value by enhancing the competitiveness of intangible assets and its businesses through Digital Transformation (DX) and by continuously delivering value to customers and society.
Through this Konica Minolta way of value-creating process, the company aims to achieve a balance between ‘people-centric pursuit of motivation and satisfaction in life’ and ‘realization of a sustainable society’ at the highest level.
In addition, Konica Minolta has reorganised its management vision based on a long-term perspective. Since its founding, the company has focused on imaging, which changes with the times, and has formulated a new vision statement, ‘Imaging to the People,’ based on the DNA that has responded to various needs and requirements of the people.
Under Medium-term Business Strategy ‘DX2022,’ which was newly formulated for the three-year period from fiscal 2020 to fiscal 2022, Konica Minolta said it will transform into highly profitable businesses through DX transform and change itself into a truly social issue-solving company in order to realize the reorganized vision.
Konica Minolta added it will transform its Office Business into a highly profitable business (digital workplace business) with a profit structure that continues to generate profits despite the increasingly challenging business environment due to the progress of the paperless business environment, and by using its customer base to provide digital solutions for different industries and sectors . In addition, the Professional Print Business, Healthcare Business and Industries Business will together evolve, through proprietary imaging technologies, to establish a business foundation in the measurement, inspection, and diagnosis fields. By building this core business, Konica Minolta said it will reduce its dependency on Office Business to 25% or less over the medium- to long-term while expanding operating profit of the entire company.
Based on the edge-cloud-based Imaging IoT Platform, focused on the fields of human behaviour, testing, and advanced medical care, Konica Minolta is looking to build an ecosystem that connects diverse customers and partners and evolve into businesses that continuously support customer workflows. The company positions the businesses that drive business model evolution (Precision Medicine, Imaging IoT Solutions, Workplace Hub (Workplace Hub)/IT Services, and Industrial Printing) as ‘Strategic New Business’ in its portfolio. Konica Minolta is looking to achieve rapid sales growth by continuously investing and allocating resources into Strategic New businesses. As a result, the company predicts it will increase the sales ratio of Strategic New Business to around 30% in the medium-and long-term, and will proceed with a company-wide conversion to high-profit businesses.
Konica Minolta said it will accelerate the development and acquisition of human resources to drive DX, and enhance its programmes to this end. In particular, the company is looking to double the number of Imaging IoT human resources, which support its competitive advantage and business model evolution, from the current 500 to 1000 in the medium term.
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