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Kyocera sees sales revenues decrease

Kyocera sees sales revenues decrease

October 29, 2020

The company has released its financial results for the first half year and second quarter of the financial year 2021.

Kyocera has seen demand for equipment and consumables decrease during the reporting period due to the pandemic. Overall sales revenue ¥696.037 billion ($6.68 billion/ €5.7 billion), a year-on-year decrease of 12.9%. During the period, operating profits decreased 60.1% to ¥24.065 billion ($231 million/ €197 million). For the first half year sales revenue for the Document Solutions Group was recorded as ¥138.14 billion ($1.33 billion/ €1.13 billion), a year-on-year decrease of 22.3%.

During the second quarter of fiscal year 2021, Kyocera said that “demand in main markets recovering after bottoming out in Q1”. During the quarter, demand for equipment and consumables increased from Q1 in regions where markets are recovering. Sales revenue for the second quarter was ¥378.943 billion ($3.64 billion/ €3.1 billion), which was an increase of 19.5% compared to the first quarter. Sales revenue for the Document Solutions Group increased 30% compared to the first quarter, at ¥78.082 billion ($750 million/ €640 million).

Kyocera said: “Although the economic environment remains unpredictable, demand in both the Components Business and Equipment & Systems Business is expected to recover further toward the end of FY21 in line with our assumptions at the start of FY21.” The company kept the forecast for the full year unchanged.

Prague GIF

Categories : City News

Tags : Business Financials Kyocera OEM

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