Net Income, Sales Down for Kyocera’s Fiscal Year

Kyocera Corporation of Japan has released results for its fiscal year that ended on March 31, 2017, with net sales for the 12-month period amounting to ¥1,422,754 million, down 3.8 percent to ¥56,873 million, compared with fiscal 2016. Net income decreased by ¥5,204 million, or 4.8 percent, to ¥103,843 million, versus fiscal 2016.

Profit from operations increased by ¥11,886 million, or 12.8 percent, to ¥104,542 million as compared with fiscal 2016, due mainly, says the firm, to cost-reduction efforts, and to the absence of impairment losses recorded in fiscal 2016. Income before income taxes decreased by ¥7,734 million, or 5.3 percent, to ¥137,849 million as compared with fiscal 2016, due to the absence of a gain on the sale of an asset in the amount of approximately ¥20 billion recorded in fiscal 2016.

Sales for the company’s Information Equipment Group decreased compared with fiscal 2016 due, says Kyocera, to the negative impact of the Japanese yen’s appreciation versus other currencies, which was said to be “more than enough to offset solid sales volume for equipment supported by aggressive sales activities for new products.”

Operating profit increased compared with fiscal 2016, however, due to the effect of new product launches and cost reductions resulting from, among others, an improvement in productivity.

Forecast

For its fiscal year that will end on March 31, 2018, Kyocera says it will also seek to further boost profitability by continuing its  cost-reduction efforts in its solar-energy business and its Telecommunications Equipment Group, which underwent structural reform in fiscal 2017, including reorganization of production systems.

For the full year, Kyocera projects that net sales will be up 5.4 percent to ¥1,500,000  million yen, and net income will be up 5.4 percent to  ¥105,000 million.

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