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Kyocera reports sales are down

Kyocera reports sales are down

April 27, 2020

The company has released its financial results for the year ended 31 March 2020 recording a decrease in sales revenue.

For the year ended 31 March 2020, Kyocera recorded sales revenues for the whole company of ¥1.599 trillion ($14.92 billion/ €13.75 billion), a decrease from the previous fiscal year where Kyocera recoded sales of ¥1.623 trillion ($15.14 billion/ €13.96 billion).

Its Document Solutions Group segment recorded sales revenues of ¥35.99 billion ($335 million/ €309 million) which accounted for 22.5%, compared to 23.1% in the previous year of the whole company’s sales and is a decrease of 4.1% year-on-year compared to the same period during the last financial year.

In its financial forecast for the financial year ending 31 March 2021, Kyocera said that COVID-19 will have an impact on its business assuming lower Printer and MFP demand in the first quarter and possible recovery from the second quarter.

In light of this, Kyocera is predicting sales revenues for the year ending 31 March 2021 of ¥1.500 trillion ($13.99 billion/ €12.9 billion). Sales revenues for the Document Solutions Group are forecasted as ¥32.0 billion ($298 million/ €275 million).

Categories : City News

Tags : Business Financials Kyocera OEM

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