Kyocera Announces Record Revenue for Fiscal Year 2019
For the second consecutive year, Kyocera reportedly attained record consolidated sales revenue, totaling ¥1.6 trillion (approximately $14.6 billion), an increase of 3% over the prior year.
Kyocera Corp. recently announced its consolidated financial results for the fiscal year ended March 31, 2019. For the second consecutive year, the company reportedly attained record consolidated sales revenue, totaling ¥1.6 trillion (approximately $14.6 billion), an increase of 3% over the prior year. According to the company, the increase was driven by holistic sales expansion, as well as mergers and acquisitions in both the Electronic Devices and the Industrial & Automotive Components segments. Sales revenue in the Life & Environment segment decreased due to a decline in orders for solar energy products.
Profits increased over the prior year reportedly due to the greater total sales revenue, as well as successful cost reduction efforts. Together, these factors more than offset an extraordinary expense of ¥52.3 billion (~ $471 million) related to the settlement of long-term purchase agreements for polysilicon raw material in the solar energy business, and an impairment loss totaling ¥16.2 billion (~ $146 million) related to machinery, equipment, goodwill, and intangible assets in the organic materials business.
According to Kyocera, the components businesses are expected to grow during the 2020 fiscal year, led by rising demand for 5G telecommunications infrastructure equipment, even as the smartphone market itself is expected to slow down. In automotive-related markets, the rising adoption of advanced driver-assist systems (ADAS) and related products is expected to boost demand as well.
Additional details are available at www.kyocera.co.uk.