KYOCF - KYOCERA Announces Consolidated Financial Results for Three Months Ended June 30 2023
Kyocera Corporation (TOKYO:6971) today announced its consolidated financial results for the three months ended June 30, 2023 (the “first quarter,” or “FY24-Q1”), as summarized below. Complete details are available at:
https://global.kyocera.com/ir/library/f_results.html
Consolidated Results of Operations: Three Months Ended June 30
| Unit: Millions (except percentages and per-share amounts) |
| Three Months Ended June 30, |
| 2022 (FY23-Q1) in JPY |
| 2023 (FY24-Q1) in JPY |
| Change |
| 2023 (FY24-Q1) in USD |
| 2023 (FY24-Q1) in EUR |
| Amount in JPY |
| % |
| Sales revenue: |
| 491,954 |
| 479,420 |
| (12,534) |
| (2.5) |
| 3,306 |
| 3,034 |
| Operating profit: |
| 41,428 |
| 25,677 |
| (15,751) |
| (38.0) |
| 177 |
| 163 |
| Profit before income taxes: |
| 68,711 |
| 50,477 |
| (18,234) |
| (26.5) |
| 348 |
| 319 |
| Profit attributable to owners of the parent: |
| 49,974 |
| 37,392 |
| (12,582) |
| (25.2) |
| 258 |
| 237 |
| Earnings per share attributable to owners of the parent (basic): |
| 139.24 |
| 105.32 |
| ? |
| ? |
| 0.73 |
| 0.67 |
| Note on exchange rates: U.S. dollar (USD) and euro (EUR) conversions are provided above as a convenience to the reader, based on the rates of USD1 = JPY145 and EUR1 = JPY158, rounded to the nearest unit (as of June 30, 2023) |
Summary
The first-quarter operating environment was characterized by continued geopolitical uncertainty, unstable foreign exchange markets, and inflation in prices and wages. The company’s main revenue drivers, which include the semiconductor-related as well as the information and communications markets, remained in an adjustment phase.
Within this environment, first-quarter consolidated sales revenue decreased 2.5%, to JPY479,420 (USD3,306) million, due mainly to lower demand for key components, despite the favorable impact of a depreciating Japanese yen.
Alongside lower sales, profits decreased due mainly to inflationary price increases in raw materials and energy. Consequently, operating profit decreased 38.0%, to JPY25,677 (USD177) million; profit before income taxes decreased 26.5%, to JPY50,477 (USD348) million; and profit attributable to owners of the parent decreased 25.2%, to JPY37,392 (USD258) million, compared to the prior-year first quarter.
Consolidated Forecasts: Year Ending March 31, 2024
The company’s consolidated financial forecasts for the year ending March 31, 2024 (“fiscal 2024”) remain unchanged from those announced in May 2023 since the first-quarter results stayed within the range of our original public projections. Recovery in semiconductor-related markets, as well as information and communications markets, is expected to commence from the second half onward beginning October 1, 2023.
The Kyocera Group aims to achieve its full-year consolidated financial forecasts by booking new orders, expanding sales and seizing new profitability improvement opportunities.
| Unit: Yen in millions (except percentages, per-share amounts and exchange rates) |
| Fiscal 2023 Results |
| Fiscal 2024 Forecasts |
| Change (%) from Fiscal 2023 Results |
| Sales revenue: |
| 2,025,332 |
| 2,100,000 |
| 3.7 |
| Operating profit: |
| 128,517 |
| 147,000 |
| 14.4 |
| Profit before income taxes: |
| 176,192 |
| 200,000 |
| 13.5 |
| Profit attributable to owners of the parent: |
| 127,988 |
| 145,000 |
| 13.3 |
| Earnings per share attributable to owners of the parent (basic): |
| 356.60 |
| 408.40 |
| * |
| - |
| Average USD exchange rate: |
| 135 |
| 125 |
| - |
| Average EUR exchange rate: |
| 141 |
| 130 |
| - |
| *Based on the average number of shares outstanding during the three months ended June 30, 2023 |
FORWARD-LOOKING STATEMENTS
Please refer to https://global.kyocera.com/ir/disclaimer.html
Kyocera Corporation (TOKYO:6971, https://global.kyocera.com/ ), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as “advanced ceramics”). By combining these engineered materials with metals and integrating them with other technologies, Kyocera has become a leading supplier of industrial and automotive components, semiconductor packages, electronic devices, smart energy systems, printers, copiers, and mobile phones. During the year ended March 31, 2023, the company’s consolidated sales revenue totaled 2 trillion yen (approx. US$15.1 billion). Kyocera is ranked #671 on Forbes magazine’s 2023 “Global 2000” list of the world’s largest publicly traded companies, and has been named among “The World’s 100 Most Sustainably Managed Companies” by The Wall Street Journal.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230730860118/en/
KYOCERA Corporation (Japan)
Corporate Communications
Kenichi Hara
Tel: +81-(0)75-604-3416
Fax: +81-(0)75-604-3516
webmaster.pressgl@kyocera.jp