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KYOCERA Announces Consolidated Financial Results for Three Months Ended June 30, 2018

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Kyocera
Corporation
(TYO:6971) today announced its consolidated financial
results for the first quarter of fiscal year 2019 (the three months
ended June 30, 2018, or "FY19-Q1"), as summarized below. From FY19-Q1,
Kyocera Corporation and its consolidated subsidiaries have adopted
International Financial Reporting Standards ("IFRS") in lieu of U.S.
Generally Accepted Accounting Principles. In addition, financial figures
for the previous first quarter (the three months ended June 30, 2017, or
"FY18-Q1") and the fiscal year ended March 31, 2018 ("fiscal 2018") have
been reclassified below in accordance with IFRS for the purpose of
comparative analysis. Complete details are available at: https://global.kyocera.com/ir/library/f_results.html

Consolidated Results of Operations: Three Months Ended June 30

Unit: Millions (except percentages and per-share amounts)
    Three Months Ended June 30,

2017
(FY18-Q1)
in JPY

 

2018
(FY19-Q1)
in JPY

  Change  

2018
(FY19-Q1)
in USD

 

2018
(FY19-Q1)
in EUR

  Amount

in JPY

  %
Sales revenue: 345,162 387,484 42,322 12.3 3,491 3,027
Operating profit: 31,260 37,104 5,844 18.7 334 290
Profit before income taxes: 49,353 55,488 6,135 12.4 500 434

Profit attributable to owners of
the parent:

35,026 42,284 7,258 20.7 381 330

Earnings per share attributable
to owners of the parent
(basic):

  95.25   116.29       1.05   0.91
Note on exchange rates: U.S. dollar (USD) and euro (EUR) conversions
are provided above as a convenience to the reader, based on the
rates of USD1 = JPY111 and EUR1 = JPY128, rounded to the nearest
unit (as of June 30, 2018)
 

Summary

Kyocera Corporation ("the Company") attained record sales revenue of
JPY387,484 (USD3,491) million during the first quarter, an increase of
12.3% over the prior first quarter, due mainly to the following:

  • The Electronic Devices Group and Industrial & Automotive Components
    Group both experienced robust demand coupled with new sales
    contributions from units merged and acquired during the prior fiscal
    year.
  • Sales in the Document Solutions Group increased as a result of
    aggressive sales promotion activities, new sales contributions from
    businesses gained through M&A during the prior fiscal year, and the
    impact of foreign exchange rate fluctuations.

Operating profit increased 18.7%, to JPY37,104 (USD334) million, due
mainly to sales growth and continued cost reduction. Profit before
income taxes increased 12.4%, to JPY55,488 (USD500) million, and profit
attributable to owners of the parent increased 20.7%, to JPY42,284
(USD381) million.

Averaged exchange rates during the first quarter show the Japanese yen
strengthened against the U.S. dollar by approximately 1.8%, to JPY109;
and weakened against the euro by approximately 6.6%, to JPY130, as
compared with averages from the prior first quarter. This had the effect
of increasing sales revenue and profit before income taxes by
approximately JPY2,000 (USD18) million respectively.

Consolidated Future Forecasts: Year Ending March 31, 2019

FY19-Q1 financial results were in line with the Company's original
projections as a whole. Since demand for components used in automotive
and industrial machinery markets is expected to increase, and the
Document Solutions Group is expected to expand sales both in the second
quarter (three months ending September 30, 2018) and beyond, the Company
makes no change to the sales revenue and profit forecasts for the year
ending March 31, 2019 that it announced on April 26, 2018.

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

Fiscal 2018
Results

   

Fiscal 2019
Forecast

 

Change
(%) from
Fiscal 2018
Results

Sales revenue: 1,577,039 1,650,000 4.6
Operating profit: 90,699 154,000 69.8
Profit before income taxes: 129,992 190,000 46.2

Profit attributable to owners of the
parent:

79,137 134,000 69.3

Earnings per share attributable to
owners of the parent
(basic):

215.22 368.54 * -
Average USD exchange rate: 111 105 -
Average EUR exchange rate:   130     130     -
*Forecast of "Earnings per share attributable to owners of the
parent (basic)" is calculated using the average number of shares
outstanding during the three months ended June 30, 2018.
 

FORWARD-LOOKING STATEMENTS

Except for historical information contained herein, the matters set
forth in this press release are forward-looking statements that involve
risks and uncertainties including, but not limited to, product demand,
competition, regulatory approvals, the effect of economic conditions and
technological difficulties, and other risks detailed in the Company's
filings with the U.S. Securities and Exchange Commission.

About
KYOCERA

Kyocera
Corporation
(TYO:6971, https://global.kyocera.com/)),
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 industrial and
automotive components, semiconductor packages, electronic devices, solar
power generating systems, printers, copiers, and mobile phones. During
the year ended March 31, 2018, the company's sales revenue totaled 1.58
trillion yen (approx. USD14.9 billion). Kyocera appears on the "Top 100
Global Innovators" list by Clarivate Analytics and is ranked #612 on Forbes
magazine's 2018 "Global 2000" listing of the world's largest publicly
traded companies.

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