MRO Magazine

KYOCERA Announces Consolidated Financial Results for Six Months Ended September 30, 2015


October 29, 2015
By Business Wire News

KYOTO, Japan

Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced consolidated financial results for the first half of fiscal year 2016 (“first half” or “FY16-H1,” covering the six months ended September 30, 2015), as summarized below. Details are available at: http://global.kyocera.com/ir/financial/f_results.html

 

Consolidated Financial Highlights: First Half

Unit: Millions (except percentages and per-share amounts)1

    Six Months Ended September 30,

2014

(FY15-H1)

in JPY

 

2015

(FY16-H1)

in JPY

 

Increase
(Decrease)

 

2015
(FY16-H1)
in USD

 

2015
(FY16-H1)
in EUR

Amount

in JPY

  %
Net sales: 714,329 722,577 8,248 1.2 6,021 5,352
Profit from operations: 54,751 61,949 7,198 13.1 516 459
Income before income taxes: 68,118 78,000 9,882 14.5 650 578

Net income attributable to
shareholders of Kyocera
Corporation:

43,649 50,792 7,143 16.4 423 376

Diluted earnings per share
attributable to shareholders of
Kyocera Corporation:

  118.98   138.45       1.15   1.03
 

Summary

With regard to the principal markets served by Kyocera Corporation and its consolidated subsidiaries (the “Kyocera Group” or “Kyocera”), the first half saw rising global demand for smartphones in the digital consumer equipment market, and rising demand in automotive markets mainly in the United States and Europe.

In comparison with the prior first half, Kyocera recorded increased consolidated net sales due mainly to growth in the Semiconductor Parts, Electronic Device, and Fine Ceramic Parts Groups, led by communications- and automotive-related components, as well as increased sales from the Information Equipment Group in the United States. These increases were more than enough to offset sales decreases against the prior first half in the Telecommunications Equipment Group and Applied Ceramic Products Group including the solar energy business. Consolidated first-half profits also increased over the prior first half, reflecting profit increases in the Components Business and one-time profit from a sale of assets in the “Others” reporting segment. Together, these profit gains more than offset a decline in profits from the Equipment Business.

In summary, consolidated net sales increased 1.2% over the prior period, to JPY722,577 (USD6,021) million; profit from operations increased 13.1%, to JPY61,949 (USD516) million; income before income taxes increased 14.5%, to JPY78,000 (USD650) million; and net income attributable to shareholders of Kyocera Corporation increased 16.4%, to JPY50,792 (USD423) million.

 

Consolidated Financial Highlights: Second Quarter

Unit: Millions (except percentages)1

    Three Months Ended September 30,
2014

(FY15-Q2)

in JPY

  2015

(FY16-Q2)

in JPY

 

Increase
(Decrease)

 

2015
(FY16-Q2)
in USD

 

2015
(FY16-Q2)
in EUR

Amount

in JPY

  %
Net sales: 379,615 383,330 3,715 1.0 3,194 2,839
Profit from operations: 35,969 29,366 (6,603) (18.4) 245 218
Income before income taxes: 37,438 30,990 (6,448) (17.2) 258 230

Net income attributable to
shareholders of Kyocera
Corporation:

  24,182   19,217   (4,965)   (20.5)   160   142
 

Second-Half Outlook

During the second half, the economic environment faces concerns regarding the slowing of the Chinese economy. At the same time, uncertainty is growing with respect to the economies of Europe and emerging countries. Manufacturing volume in the digital consumer equipment market is expected to fall below levels estimated in April 2015, and the pace of expansion in automotive and industrial equipment markets is expected to slow as well. Although Kyocera will strive to expand business despite these conditions, management expects lower aggregate demand in principal markets for both the components and equipment segments than was projected at the beginning of fiscal 2016. Consequently, Kyocera has revised the consolidated forecasts it announced in April 2015 as follows.

 

Consolidated Forecast: Year Ending March 31, 2016

Unit: Yen in millions (except percentages, per-share amounts and exchange rates)
 

Fiscal 2016 Forecasts
Announced on

 

Increase
(Decrease)
(%) to
Fiscal 2015
Results

Fiscal 2015
Results

April 27,
2015

 

October 29,
2015

Net sales: 1,526,536 1,600,000   1,530,000 0.2
Profit from operations: 93,428 160,000 110,000 17.7
Income before income taxes: 121,862 184,000 140,000 14.9

Net income attributable to
shareholders of Kyocera
Corporation:

115,875 120,000 85,000 (26.6)

Diluted earnings per share
attributable to shareholders of
Kyocera Corporation2:

315.85 327.10 231.70
Average USD exchange rate: 110 115 120
Average EUR exchange rate: 139   125   133  
 

1 As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are provided based on the rates of USD1 = JPY120 and EUR1 = JPY135, rounded to the nearest unit.
2 Forecast of “Diluted earnings per share attributable to shareholders of Kyocera Corporation” is based on the diluted average number of shares outstanding during the six months ended September 30, 2015.

About KYOCERA

Kyocera Corporation (NYSE:KYO)(TOKYO:6971), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as “advanced ceramics”). By combining these engineered materials with metals and integrating them with other technologies, Kyocera has become a leading supplier of solar power generating systems, mobile phones, printers, copiers, electronic components, semiconductor packages, cutting tools and industrial ceramics. Kyocera appears on the latest listing of the “Top 100 Global Innovators” by Thomson Reuters, and is ranked #552 on Forbes magazine’s 2015 “Global 2000” listing of the world’s largest publicly traded companies.

KYOCERA Corporation (Japan)
Hina Morioka, +81-(0)75-604-3416
Corporate Communications
webmaster.pressgl@kyocera.jp
http://global.kyocera.com/
Fax: +81-(0)75-604-3516