Kyocera unveils fiscal year financials
April 25, 2019
Kyocera Corporation has published its consolidated financial results for the fiscal year ending 31 March 2019, revealing an increase in revenue and operating profits from the previous year.
As Kyocera reports, “Sales revenue for fiscal 2019 increased by ¥46.6 billion ($416.5 million/€374.2 million), or 3 percent, to ¥1.6 trillion ($12.8 billion/€14.3 billion), compared with fiscal 2018, marking record highs in sales for two consecutive years. Sales in the Life & Environment Group decreased, due to a decline in orders from the solar energy business. However, sales increased in the Electronic Devices Group and the Industrial and Automotive Components Group due in part to contributions from merger and acquisition activities during fiscal 2018.”
The company goes on to explain that “Profits increased as compared with fiscal 2018, due to the effects of the increase in sales revenue, as well as cost reduction efforts in each division, which more than offset settlement expenses in the amount of ¥52.3 billion ($467.4 million/€420 million) relating to long-term purchase agreements for procurement of polysilicon material in the solar energy business and an impairment loss in the amount of ¥16.1 billion ($143.9 million/€129.3 million) relating to machinery, equipment, goodwill and intangible asset in the organic materials business.
“As a result, operating profit increased by ¥4.1 billion ($36.6 million/€32.9 million), or 4.5 percent, to ¥94.8 billion ($847.3 million/€761.5 million), profit before income taxes increased by ¥10.6 billion ($94.7 million/€85.1 million), or 8.2 percent, to ¥140.6 billion ($1.2 billion/€1.1 billion) in fiscal 2019 as compared with fiscal 2018.”
Regarding its Document Solutions Group, Kyocera reveals that “Sales revenue for fiscal 2019 increased by ¥4.08 billion ($36.4 million/€32.7 million), or 1.1 percent, to ¥375.1 billion ($3.3 billion/€3 billion), compared with ¥371.05 billion ($3.3 billion/€2.9 billion) for fiscal 2018, due in part to solid sales volume of multifunctional products and other items coupled with the contribution of merger and acquisition activities which more than offset the impact of foreign exchange fluctuations.
“Business profit for fiscal 2019 increased by ¥2.6 billion ($23.2 million/€20.8 million), or 6.6 percent, to ¥43.5 billion ($388.7 million/€349.4 million) compared with ¥40.8 billion ($364.6 million/€327.6 million) for fiscal 2018, due to the increase in sales revenue, cost reductions and improved productivity. The business profit ratio improved from 11 percent for fiscal 2018 to 11.6 percent for fiscal 2019.”
Looking ahead to the fiscal year ending 31 March 2020, Kyocera says that, in the Document Solutions Group, the company “will work to further expand its equipment and solutions business through pursuit of the benefits of merger and acquisition activities. Through growth in these businesses, Kyocera aims to post a new record high in sales revenue for the third fiscal year.”
The company adds that, in fiscal 2020, it expects an increase in depreciation costs reflecting aggressive capital investment and in costs associated with efforts to create new businesses and cultivate new markets. Costs will also be incurred for celebrations of the company’s 60th anniversary, it explains.
Categories : City News
Tags : Financials Japan Kyocera
