Kyocera announces latest consolidated financial results
November 2, 2023
Kyocera Corporation announced its consolidated financial results for the first half of fiscal year 2024, covering the six months ended 30 September 2023 (the “first half,” or “FY24-H1”).
Kyocera explained that geopolitical volatility and price inflation continued globally during the first half, leading to weaker demand and inventory adjustments in the Company’s key markets for Semiconductor-related components and Information & Communications components.
Although its Solutions segment (includes MFPs) sales increased, the company’s consolidated sales revenue decreased 2.7% over the prior first half, to ¥985,290 million ($6.56 billion/ €6.18 billion), due mainly to reduced demand in key components markets.
Profits decreased as well, due mainly to a combination of lower sales revenue and inflation raising the cost of raw materials and energy.
Consolidated operating profit decreased 29.4% from the prior first half, to ¥54,002 million ($360 million/ €338 million).
Kyocera added: “While first-half consolidated financial results approached the Company’s original projections, the business environment is expected to be severe during the second half ending 31 March 2024.
“Markets for Semiconductor-related components and Information & Communications components are expected to continue to show weakness, marked by declining industry-wide shipments of smartphones and deferred capital investment in data centres.”
Based on these new expectations, the company has revised its consolidated full-year financial forecast downwards.
Categories : City News
Tags : Business Financials Kyocera OEM
