Kyocera Reports Record Sales, Expects Slowdown in Fourth Quarter
Kyocera attained nine-month sales revenue of ¥1.2 trillion (approximately $10.9 billion), an increase of ¥69.4 billion (~ $625 million), or 6.1%, over the prior-year period, setting a period record for the second consecutive year.
Kyocera Corp. recently announced its consolidated financial results for the first nine months of its fiscal year ending March 31, 2019. During this period, robust demand for electronic devices, fine ceramic parts, automotive camera modules, and multi-functional document solutions products reportedly fueled a significant increase in the company’s sales revenue. In addition, mergers and acquisitions brought new revenue streams. As a result, the company attained nine-month sales revenue of ¥1.2 trillion (approximately $10.9 billion), an increase of ¥69.4 billion (~ $625 million), or 6.1%, over the prior-year period, setting a period record for the second consecutive year.
Profit decreased compared to the prior-year period due to the recording of settlement expenses relating to long-term purchase agreements for procurement of polysilicon material in the solar energy business and to the recording of impairment loss relating to machinery, equipment, and goodwill in the organic materials business, which more than offset the effects of increased sales revenue and cost reductions efforts in each division. Kyocera has revised the consolidated full-year financial forecasts it announced on November 28, 2018, anticipating slower fourth quarter demand for components amid production adjustments in the smartphone market and lower capital equipment investments among makers of industrial machinery.
In the equipment and systems business, revenue is expected to fall short of the November 28, 2018, forecast in the Document Solutions Group and in the solar energy segment of the Life & Environment Group. In addition, profit results will fall short of the forecast, as impairment loss in the organic materials business recorded in the third quarter will exceed total savings attained through company-wide expense reduction efforts over the full year.
Additional details are available at https://global.kyocera.com.