Kyocera Fiscal Year Sales Increase 7.5%
Kyocera Corp. recently announced its consolidated financial results for the fiscal year ended March 31, 2013. Consolidated net sales for the period increased 7.5% compared to the prior period to ¥1,280,054 million (~ $13,618 million), due primarily to growth in the Applied Ceramic Products Group and the Semiconductor Parts Group, as well as the full-year contribution of a consolidated subsidiary added during the year.
Profit was reportedly impacted by a ¥21,300 million (~ $266 million) charge recorded at AVX Corp., a U.S.-based subsidiary, for environmental remediation. Due in part to this charge, profit from operations decreased 21.2% to ¥76,926 million (~ $818 million); income before income taxes decreased 11.8% to ¥101,363 million (~ $1,078 million); net income attributable to shareholders of Kyocera Corp. decreased 16.2% to ¥66,473 million (~ $707 million).
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