30 Jul 2026 07:13:28 ET │ 10 pages Konica Minolta (4902.T) Q1 results – Slightly negative. Tariff refunds paint a good picture, but essentially a slow start CITI'S TAKE Both results and guidance proved somewhat disappointing. We view today's release as somewhat negative for the shares. Q1 business contribution profit increased 26% YoY to ¥11.6bn, but excluding an (unplanned) ¥7.4bn tariff refund, this represents a 54% YoY decline to ¥4.2bn. While the company had indicated at the beginning of the fiscal year ...