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KYOCERA releases consolidated financial results

October 31, 2017

The Kyocera Corporation has revealed its consolidated financial results for the six months concluding 30 September 2017.

The Tokyo-based corporation announced its financial results for the first half of this fiscal year (covering the six months ending on 30 September 2017).

Net sales rose by 13.0 per cent from the same period last year, reaching ¥738,345 million ($6,534 million/€5,551 million), an increase of ¥85,102 million ($753 million/€647 million) from 2016. The corporation attributed this increase to “Robust market conditions” and an increase in revenue from “document solutions business […] following new product launches and related sales promotion activities.”

Profit from operations reached ¥69,505 million ($615 million/€523 million), an increase from the same period in 2016 of 105.7 per cent. KYOCERA revealed this rise is “due mainly to corporate restructuring implemented during the prior year, as well as to stronger sales and cost reduction efforts.”

 

The Japanese corporation explained that it had revised its 1 May 2017 consolidated financial forecasts upward, for the year ending 31 March 2018 and gave the following reasons why:

  • First-half sales and profit grew beyond original projections due primarily to a favorable business environment in major components markets.
  • Overall demand for parts used in industrial machinery and automotive-related components is expected to rise in the second half.
  • The Japanese yen is expected to remain valued lower than originally forecast in relation to other major currencies during the second half.

“Because demand for components is expected to remain strong in the second half, Kyocera will raise production capacity in Japan, North America and Asia for fine ceramic components, industrial tools and electronic devices,” said Kyocera Corporation President Hideo Tanimoto. “We aim to further expand sales through business investments, acquiring the power tools business of Ryobi Limited, as well as the automotive sensor business from TT Electronics plc, which was acquired this month by AVX Corporation, a U.S.-based Kyocera subsidiary. We expect record sales for the full fiscal year.”

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