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Kyocera publishes latest financial results

Kyocera publishes latest financial results

February 1, 2021

In its latest released results for the nine months ended 31 December 2020, Kyocera recorded year-on-year sales revenue declines and profit declines.

In the nine-month period ended 31 December 2020, Kyocera recorded sales revenues of ¥1,100 billion ($10.48 billion/ €8.68 billion), a year-on-year decline of 8.1%. Operating profit was down 54.7% at ¥42.98 billion ($409 million/ €339 million) for the period. Kyocera said: “Demand in document markets and automotive-related markets decreased for the nine months ended December 31, 2020 year-on-year despite a recovery trend after bottoming out in Q1.”

The Document Solutions Group segment, sales revenue was ¥226.1 billion ($2.15 billion/ €1.79 billion), down 15.5% on the same reporting period of the previous financial year. Kyocera explained that a decreased demand for printers, MFPs and consumables resulting from restrictions on office attendance was cause for the decline.

In its financial announcement Kyocera also introduced its plans to reorganize the business structure and integrate the current 16 main businesses and subsidiaries into three new business segments and management divisions into headquarters. This change which Kyocera is looking to implement by April 2021 will see the printing devices and document solutions group segment be combined under a new segment called “Solutions Business”.

Categories : City News

Tags : Business Financials Kyocera OEM

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