Kyocera Reports Record Sales for First Half

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Kyocera reports results for it’s first half (April 1 to September 30, 2018) of its fiscal year, with sales revenue increasing  by 8.4 percent to 800,638 million yen, compared with the previous first half, marking a record high for first half sales for the second consecutive first half period. Kyocera said the gains were due to contributions from mergers and acquisitions conducted during fiscal-year 2018 and increases in sales generated by its Components Business and  Document Solutions Group.

Operating profit increased by 13,329 million yen, or 19.2 percent, to 82,601 million yen, compared with the previous first half, reflecting the effects of the sales growth and cost reduction efforts in each division.

Profit before income taxes increased by 14,901 million yen, or 16.4 percent, to 105,689 million yen, and profit attributable to owners of the parent increased by 14,953 million yen, or 23.6 percent, to 78,394 million yen, compared with the previous first half, with both results marking record highs for first half results.

Results by Segment

Document Solutions Group: Sales and business profit increased in this reporting segment as compared with the previous first half due mainly to an increase in sales volume of copier/MFPs in Japan and overseas, and the contribution from merger and acquisition activities.

Industrial & Automotive Components Group: Sales in this reporting segment increased as compared with the previous first half due to an increase in sales of industrial tools as a result of merger and acquisition activities conducted in fiscal 2018, as well as increases in sales of fine ceramic parts used in semiconductor processing equipment and sales of automotive camera modules. Business profit increased markedly due to the growth in sales and cost reductions.

Semiconductor Components Group: Sales in this reporting segment were roughly on par with the previous first half. Business profit decreased due to a decline in sales of highly profitable ceramic packages for optical communications, despite an increase in sales of organic multilayer substrates and boards for automotive applications.

Electronic Devices Group:  Sales in this reporting segment increased as compared with the previous first half due to an increase in sales at AVX Corporation, a U.S. subsidiary, on the back of contribution from merger and acquisition activities conducted in fiscal 2018, in addition to solid demand for ceramic capacitors for smartphones and printing devices for industrial equipment. Business profit increased significantly due to the sales growth and enhanced profitability at AVX Corporation.

Communications Group:  Sales and business profit decreased in this reporting segment as compared with the previous first half due to a decline in sales in the telecommunications equipment business and an increase in R&D expenses, despite growth in sales and profit in the information and communications services business, in which Kyocera provides engineering services, etc.

Life & Environment Group:  Sales in this reporting segment decreased as compared with the previous first half and a business loss was recorded due to a decline in sales in the solar energy business and an increase in R&D expenses.

Full-Year Forecast

Kyocera did not change its previous fiscal forecast. It’s forecasting that net sales revenue will be up 4.6 percent versus the previous fiscal year; operating profit will be up 69.8 percent; and profits will be up 69.3 percent.

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