Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its
third-quarter financial results for the fiscal year ending March
31, 2017. The results are summarized below, both as an aggregation
of Kyocera’s first three fiscal quarters (the “period,” i.e., nine
months ended Dec. 31, 2016), and as the third quarter alone (the
“quarter,” i.e., three months ended Dec. 31, 2016). Complete
details are available at:
http://global.kyocera.com/ir/financial/f_results.html
Consolidated Financial Highlights: Nine
Months Ended December 31, 2016
Unit: Millions (except percentages and
per-share amounts)
Nine Months Ended December 31,
2015(FY16)in JPY
2016(FY17)in JPY
Increase(Decrease)
2016(FY17)in USD
2016(FY17)in EUR
Amountin JPY
% Net sales: 1,093,030 1,014,628 (78,402) (7.2) 8,672 8,249
Profit from operations: 66,020 67,102 1,082 1.6 574 546 Income
before income taxes: 97,390 98,706 1,316 1.4 844 802
Net income attributable toshareholders of
KyoceraCorporation:
59,504 70,852 11,348 19.1 606 576
Diluted earnings per shareattributable to
shareholders ofKyocera Corporation:
162.20 192.88 - - 1.65
1.57
Note on exchange rates: U.S. dollar (USD) and euro (EUR)
conversions are provided above and in the Q3 chart below as a
convenience to the reader, based on the rates of USD1 = JPY117 and
EUR1 = JPY123, rounded to the nearest unit (as of December 30,
2016).
SummaryThe principal markets served by Kyocera
Corporation and its subsidiaries (the “Kyocera Group” or “Kyocera”)
experienced mixed results during this period:
- The automotive market enjoyed stable
growth, due primarily to rising vehicle sales in China and
Europe.
- The information and communications
market experienced rising demand for miniaturized, highly
functional components; however, stagnating growth rates in
smartphone shipments continued.
- The global solar energy market saw
continued erosion in the price of photovoltaic (PV) modules, and
Japan-market demand decreased due to feed-in tariff changes that
reduced the price of power purchased from PV system owners.
Consolidated net sales for this period decreased 7.2% over the
prior nine-month period, to JPY1,014,628 (USD8,672) million, due
mainly to the impact of the yen’s appreciation; profit from
operations increased 1.6%, to JPY67,102 (USD574) million; income
before income taxes increased 1.4%, to JPY98,706 (USD844) million;
and net income attributable to shareholders of Kyocera Corporation
increased 19.1%, to JPY70,852 (USD606) million.
Consolidated Financial Highlights:
Third Quarter
Unit: Millions (except percentages)
Three Months Ended December 31,
2015(FY16-Q3)in JPY
2016(FY17-Q3)in JPY
Increase(Decrease)
2016(FY17-Q3)in USD
2016(FY17-Q3)in EUR
Amountin JPY
% Net sales: 370,453 361,385 (9,068) (2.4) 3,089 2,938
Profit from operations: 4,071 33,317 29,246 718.4 285 271 Income
before income taxes: 19,390 50,128 30,738 158.5 428 408
Net income attributable toshareholders of
KyoceraCorporation:
8,712 34,699 25,987 298.3
297 282
(See note above regarding exchange
rates.)
Expectations for the Full Fiscal YearCurrent conditions
in the solar energy and electronic device markets, combined with a
delay in the launch of new information equipment products, have led
Kyocera Corporation to revise its consolidated financial forecasts
for the year ending March 31, 2017 (“fiscal 2017”). The company’s
earlier forecasts of net sales and profit from operations have been
lowered; the forecast of income before income taxes remains
unchanged; and the forecast for net income attributable to
shareholders of Kyocera Corporation has been revised upward, as
shown in the table below. Kyocera will strive aggressively to
capitalize on new business opportunities while reducing expenses in
order to achieve the best possible results.
Consolidated Forecast: Year Ending
March 31, 2017
Unit: Yen in millions (except percentages, per-share amounts and
exchange rates)
Fiscal 2016Results
Fiscal 2017 ForecastsAnnounced on
Increase(Decrease)(%) toFiscal
2016Results
October31, 2016
January31, 2017
Net sales: 1,479,627 1,520,000 1,410,000 (4.7 ) Profit from
operations: 92,656 110,000 95,000 2.5 Income before income taxes:
145,583 130,000 130,000 (10.7 )
Net income attributable to shareholdersof
Kyocera Corporation:
109,047 85,000 90,000 (17.5 )
Diluted earnings per share attributableto
shareholders of Kyocera Corporation*:
297.24 231.52 245.01 - Average USD exchange rate: 120 104 108 -
Average EUR exchange rate: 133 115 119 -
*Forecast of “Diluted earnings per share attributable to
shareholders of Kyocera Corporation” is based on the diluted
average number of shares outstanding during the nine months ended
December 31, 2016.
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),
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 printers, copiers, mobile phones,
solar power generating systems, electronic components,
semiconductor packages, cutting tools and industrial ceramics.
Kyocera appears on the “Top 100 Global Innovators” list by
Clarivate Analytics and is ranked #531 on Forbes magazine’s 2016
“Global 2000” list of the world’s largest publicly traded
companies.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170130006276/en/
KYOCERA Corporation (Japan)Kenichi Hara,
+81-(0)75-604-3416Corporate
CommunicationsFax: +81-(0)75-604-3516E-Mail:
webmaster.pressgl@kyocera.jpWebsite: http://global.kyocera.com/
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