Kyocera record decrease in revenue and profits
August 1, 2023
The company has released its first quarter results for fiscal year 2024, recording a decrease in sales revenue and profits.
Sales revenue for the quarter was ¥479,420 million ($3.36 billion/ €3.06 billion), a 2.5% decrease year-on-year, which Kyocera said was mainly to lower demand for key components, despite the favourable impact of a depreciating Japanese yen.
Alongside lower sales, profits decreased due mainly to inflationary price increases in raw materials and energy. Consequently, operating profit decreased 38.0%, to ¥25,677 ($180 million/ €164 million).
In its Document Solutions Unit sales revenue for the quarter was ¥103,574 million ($725 million/ €661 million), a 2.4% increase year-on-year. Kyocera said that sales increased due to robust sales of core products as well as the impact of the weaker yen etc., resulting in increase of sales revenue as the reporting segment overall.
The company’s consolidated financial forecasts for the year ending 31 March 2024 (fiscal 2024) remain unchanged from those announced in May 2023 since the first-quarter results stayed within the range of our original public projections. Recovery in semiconductor-related markets, as well as information and communications markets, is expected to commence from the second half onward beginning 1 October 2023.
Categories : City News
Tags : Business Financials Kyocera OEM Sales
