Kyocera Reports Improved Financial Results, with Sales, Profits Up

Kyocera Document Solutions America headquarters.

Kyocera Corporation of Japan has reported financial results for its first fiscal quarter that ended on June 30, 2017, with net sales for the first quarter increasing by ¥25,177 million, or 7.9 percent, to ¥345,162 million, compared with  net sales for its first quarter in the previous fiscal year.

Profits “increased significantly” due to an increase in sales and cost reductions. Profit from operations increased by ¥18,897 million, or 154.0 percent, to ¥31,167 million, income before income taxes increased by ¥24,462 million, or 98.6 ¥, to ¥49,260 million, and net income attributable to shareholders increased by ¥17,528 million, or 100.4 percent, to ¥34,981 million, compared with the previous first quarter.

Sales for Kyocera’s Industrial and Automotive Components Group, Semiconductor Components Group, and Electronic Devices Group expanded due to an increase in demand for components used in automotive-related markets, communications infrastructure, and smartphones.

Kyocera notes that average exchange rates for the first quarter were ¥111 to the U.S. dollar, marking depreciation by ¥3 (2.8 percent) from the previous first quarter and ¥122 to the Euro, which was unchanged year-over-year.

Document Solutions Group

Sales in Kyocera’s Documents Solutions Group also increased “on the back of investment in new products and aggressive sales promotion activities, and the contribution of sales from a consolidated subsidiary, which joined the Kyocera Group in December 2016.

Operating profit increased significantly due to the sales growth and cost reductions. Sales for the Document Solutions Group for the first quarter were ¥80,973 million, up 23.5 percent versus the first quarter of the  previous fiscal year.

Forecast

Kyocera has not made any changes to its sales and profit forecasts for its fiscal year that will end on March 31, 2018. For its fiscal year, it’s projecting net sales of ¥1,500,000 million, up 5.4 percent versus the previous fiscal year, and net income of  ¥105,000 million, up 1.1 percent versus net income versus  for the previous fiscal year.

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