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Kyocera posts decreased revenue and profits

Kyocera posts decreased revenue and profits

April 27, 2021

For the year ended 31 March 2021 sales revenue and profit decreased compared with the year ended 31 March 2020, due to the impact of the economic downturn caused by the spread of COVID, the company said.

Sales revenue in the Components Business increased slightly compared with fiscal 2020 due to the contribution of M&A activities and increased demand in the semiconductor and 5G-related markets, which more than offset the significant adverse impact of a slump in the automotive-related market during the three months ended 30 June 2020.

On the other hand, sales revenue in the Equipment & Systems Business decreased. As a result, sales revenue decreased by ¥72.156 billion ($666 million/ €552 million) year-on-year. Operating profit decreased by ¥29.549 billion ($273 million/€226 million).

For Kyocera’s Document Solutions Group sales revenue for fiscal 2021 decreased by ¥43.689 billion ($403 million/ €334 million), or 12.1%, to ¥316.226 billion ($2.92 billion/ €2.42 billion). Despite a recovery in demand after hitting bottom in the first quarter, demand for fiscal 2021 as a whole did not reach the level of fiscal 2020, Kyocera explained. In particular, sales of equipment and consumables decreased.

Kyocera has also announced the integration of its sixteen main business sectors and subsidiaries. The company is looking to restructure them into three business segments, namely, the “Core Components Business,” “Electronic Components Business” and “Solutions Business”. Printing devices will be included in the Solutions Business segment, which will be headed by Norihiko Ina Director, Managing Executive Officer.

Categories : City News

Tags : Business Financials Kyocera OEM

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