Kyocera Posts Record Revenue High for Fiscal Year

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For its fiscal year that ended on March 31, 2019, Kyocera Corporation of Japan reported that its sales revenue increased by 46,671 million yen, or 3.0 percent, to 1,623,710 million yen, compared with fiscal-year 2018, marking a record high in sales for two consecutive years.

Kyocera also reported that for the fiscal year:

Sales in its Life & Environment Group decreased, due to a decline in orders from the solar-energy business. However, sales increased in the Electronic Devices Group and the Industrial & Automotive Components Group, due in part to contributions from merger and acquisition activities during fiscal 2018.

Overall, profits increased compared with fiscal 2018, due to the effects of the increase in sales revenue, as well as due to cost-reduction efforts in each division, which more than offset settlement expenses in the amount of 52,313 million yen.

As a result, operating profit increased by 4,124 million yen, or 4.5 percent, to 94,823 million yen for the fiscal year,and profit before income taxes increased by 10,618 million yen, or 8.2 percent, to 140,610 million yen in fiscal 2019 as compared with fiscal
2018.

Profit attributable to Kyocera owners increased by 24,073 million yen, or 30.4 percent, to 103,210 million yen in fiscal 2019 as compared with fiscal 2018, due in part to lower tax expenses.

Regarding lower tax expenses, while Kyocera’s U.S. subsidiaries, including AVX Corporation, recorded one-time tax expenses in fiscal 2018 due to revisions in the U.S. tax code, Kyocera recognized a deferred tax asset related to tax losses carried forward from the merger of Kyocera Display Corporation into Kyocera Corporation in fiscal 2019.

Document Solutions Group

Sales revenue for fiscal 2019 for Kyocera’s Document Solutions Group increased by 4,089 million yen, or 1.1 percent, to 375,147 million yen, compared with 371,058 million yen for fiscal 2018, due in part to “solid sales volume of multifunctional products and other items,” coupled with the contribution of merger and acquisition activities, which more than offset the impact of foreign-currency exchange-rate fluctuations.

Business profit for the Document Solutions Group for fiscal 2019 increased by 2,677 million yen, or 6.6 percent, to 43,528 million yen compared, due to the increase in sales revenue, as well as cost reductions and improved productivity.

Full-Year Forecast

Through growth in its Components business and its Document Solutions Group, Kyocera aims to post a new record high in sales revenue for the third consecutive fiscal year.

For its fiscal year that will end on March 31, 2020, Kyocera is forecasting sales revenue of 1,700,000 million yen, up 4.7 percent versus the previous fiscal year, and profits of 125,000 million yen, up 21.1 percent versus the previous fiscal year.

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