Notice Regarding Closure of Employee Dormitory

Tokyo (August 23, 2024) – Konica Minolta, Inc. (Konica Minolta) has decided to close its Taihozanryo – an employee dormitory in Toyokawa City, Aichi Prefecture, Japan – and return the leased land to the owner.

With the basic policy of challenging and achievable target and return to a highly profitable company, one of action agendas in Konica Minolta’s Medium-term Business Plan is reinforcement of financial foundation.

Since Minolta Camera Co., Ltd. opened Taihozanryo in 1983, the dormitory housed, for more than 40 years, employees in Toyokawa and neighboring areas. Konica Minolta decided to close the dormitory and return the leased land in view of the decline in asset efficiency due to increasing costs to keep the buildings, including maintenance costs associated with the aging of facilities.

Overview of Dormitory

Name	Taihozanryo
Address	10-176, Yawatacho Taihozan, Toyokawa, Aichi, Japan
Leased land area	20,876 square meters