KYOCY Kyocera Corporation (PK)

Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its consolidated financial results for the first quarter of fiscal year 2018 (the three months ended June 30, 2017, or “Q1”), as summarized below. Complete details are available at: http://global.kyocera.com/ir/financial/f_results.html

 

Consolidated Results: Three Months Ended June 30

Unit: Millions (except percentages and per-share amounts)     Three Months Ended June 30,

2016(FY17-Q1)in JPY

 

2017(FY18-Q1)in JPY

 

Increase(Decrease)

 

2017(FY18-Q1)in USD

 

2017(FY18-Q1)in EUR

 

Amountin JPY

  % Net sales: 319,985 345,162 25,177 7.9 3,082 2,697 Profit from operations: 12,270 31,167 18,897 154.0 278 243 Income before income taxes: 24,798 49,260 24,462 98.6 440 385

Net income attributable toshareholders of KyoceraCorporation:

17,453 34,981 17,528 100.4 312 273

Diluted earnings per shareattributable to shareholders ofKyocera Corporation:

  47.58   95.13   －   －   0.85   0.74 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 = JPY112 and EUR1 = JPY128, rounded to the nearest unit (as of June 30, 2017)  

SummaryRevenue from sales of Industrial & Automotive Components, Semiconductor Components and Electronic Devices increased during Q1 due to rising demand from producers of automobiles, communications infrastructure equipment and smartphones. Revenue from Document Solutions expanded as well following the launch of new products and sales promotion activities. As a result, consolidated net sales for the three months ended June 30 increased by JPY25,177 (USD225) million, or 7.9%, to JPY345,162 (USD3,082) million, compared with the same period of the prior year.

Profit from operations increased 154.0%, to JPY31,167 (USD278) million, due mainly to stronger sales and continued cost reduction efforts. Income before income taxes increased 98.6%, to JPY49,260 (USD440) million, and net income attributable to shareholders of Kyocera Corporation increased 100.4%, to JPY34,981 (USD312) million.

Consolidated Forecast: Year Ending March 31, 2018Kyocera makes no change to the sales and profit forecasts for the year ending March 31, 2018 that it announced on May 1, 2017, since these strong Q1 results are in line with the original projections as a whole.

  Unit: Yen in millions (except percentages, per-share amounts and exchange rates)    

Fiscal 2017Results

 

Fiscal 2018Forecast

 

Increase(Decrease)(%) toFiscal 2017Results

Net sales: 1,422,754 1,500,000 5.4 Profit from operations: 104,542 120,000 14.8 Income before income taxes: 137,849 150,000 8.8

Net income attributable toshareholders of KyoceraCorporation:

103,843 105,000 1.1

Diluted earnings per shareattributable to shareholders ofKyocera Corporation*:

282.62 285.55 - Average USD exchange rate: 108 108 - Average EUR exchange rate:   119 115 - *Forecast of “Diluted earnings per share attributable to shareholders of Kyocera Corporation” is based on the diluted average number of shares outstanding during the three months ended June 30, 2017.  

FORWARD-LOOKING STATEMENTSExcept for historical information contained herein, the matters set forth in this press release are forward-looking statements that involve risks and uncertainties including, but not limited to, product demand, competition, regulatory approvals, the effect of economic conditions and technological difficulties, and other risks detailed in the Company’s filings with the U.S. Securities and Exchange Commission.

About KYOCERAKyocera Corporation (NYSE:KYO)(TOKYO:6971) (http://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, printers, copiers, mobile phones and solar power generating systems. During the year ended March 31, 2017, the company’s consolidated net sales totaled 1.42 trillion yen (approx. USD12.7 billion). Kyocera appears on the “Top 100 Global Innovators” list by Clarivate Analytics and is ranked #522 on Forbes magazine’s 2017 “Global 2000” list of the world’s largest publicly traded companies.

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KYOCERA Corporation (Japan)Kenichi Hara, +81-(0)75-604-3416Corporate Communicationswebmaster.pressgl@kyocera.jpFax: +81-(0)75-604-3516