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Kyocera Announces Consolidated Nine Month Results (posted 1/30/09)

January 30, 2009
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Kyocera Corp. recently announced its consolidated financial results for the nine months ended December 31, 2008. Sales and profits for the nine months decreased compared to the same period of the prior fiscal year due to a significant deterioration of the business environment, which brought a slowdown in demand and the yen’s appreciation. Consolidated net sales amounted to 902,577 million yen ($9,918 million), a decrease of 6.6% compared with the same period of the prior fiscal year.

Profit from operations decreased by 38.9%, to 67,257 million yen ($739 million), due mainly to decreased demand and price erosion. Income before income taxes decreased by 37.6% to 82,409 million yen ($906 million), while net income decreased by 32.0% to 56,768 million yen ($624 million).

Average exchange rates were 103 yen to the U.S. dollar and 151 yen to the euro, marking appreciation of 14 and 12 yen, respectively, compared with the same period of the prior fiscal year. As a result, net sales and income before income taxes after translation into yen were, for calculation purposes, reduced by approximately 68.0 billion and 16.5 billion yen, respectively.

In the components business, sales and operating profit decreased in all reporting segments except for the Applied Ceramic Products Group. Consequently, overall sales in the components business decreased by 6.2% to 478,535 million yen ($5,259 million), and operating profit decreased by 38.3% to 47,505 million yen ($522 million).

In the equipment business, sales decreased by 8.0% to 345,165 million yen ($3,793 million), and operating profit decreased by 87.5% to 3,943 million yen ($43 million), compared with the same period in the prior fiscal year.

The Others segment includes various information and communications technology services, as well as materials used in manufacturing electronic components. Sales in this reporting segment decreased by 2.9% to 96,973 million yen ($1,066 million), due primarily to a decrease in sales of materials for electronic components. Operating profit increased by 126.4% to 15,241 million yen ($167 million), due to gains from the sales of certain real estate both in Japan and other regions in the second quarter.

In light of the extremely severe business environment, Kyocera will strive to secure orders by reinforcing sales and marketing activities; re-examining customer needs; and comprehensively reducing costs, which will include downsizing the plans of capital investment. Kyocera also aims to create highly profitable business foundations by strengthening the development of new products and future technologies throughout the Kyocera Group, and by promoting further enhancements in quality. The Kyocera Group will work cooperatively to implement these measures in order to steadily improve performance once demand recovers.

Visit http://global.kyocera.com for additional details.

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