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Kyocera sales hit by COVID-19

July 30, 2020

The company has released its financial results for the three-month period ending 30 June 2020 recording a reduction in sales revenue of 17.6% compared to the same period last year.

For the three-month period ending 30 June 2020 Kyocera recorded sales revenues of ¥317.094 billion ($3.01 billion/ €2.57 billion), a decrease of ¥67.843 billion ($645 million/ € 549 million) or 17.6% year-on-year. Operating profit saw a reduction of 66.5% year-on-year, to ¥7.574 billion ($72 million/ €61 million). Kyocera said this “decrease in sales revenue and profit mainly due to the impact of COVID-19.”

Total equipment and systems business sales revenue for the period was to ¥122.157 billion ($1.16 billion/ €989.209 million), down 27.6% year-on-year. Kyocera said that “demand for equipment and consumables decreased along with restrictions on office attendance.”

The company said it saw increased demand for document solution services but a decreased demand for printers, MFPs, and consumables resulting from restrictions. However, looking forward Kyocera said it expects business to recover from Q2 onwards with demand for document solutions to recover. As part of its forecast, Kyocera showcased its intentions to expand its solution business with end-to-end ECM solution services.

Its forecasts for the full year stay unchanged.

Categories : City News

Tags : Business Financials Kyocera OEM

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