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KYOCERA Announces Consolidated Financial Results for Six Months Ended September 30, 2020

KYOTO, Japan--(BUSINESS WIRE)--Kyocera Corporation (TOKYO:6971) today announced its consolidated financial results for the first half of fiscal year 2021, covering the six months ended September 30, 2020 (the “first half,” or “FY21-H1”), as summarized below. Complete details are available at: https://global.kyocera.com/ir/library/f_results.html


Consolidated Results of Operations: First Half

Unit: Millions (except percentages and per-share amounts)

Six Months Ended September 30,

2019
(FY20-H1)
in JPY

2020
(FY21-H1)
in JPY

Change

2020
(FY21-H1)
in USD

2020
(FY21-H1)
in EUR

Amount
in JPY

%

Sales revenue:

799,050

696,037

(103,013)

(12.9)

6,566

5,613

Operating profit:

60,320

24,065

(36,255)

(60.1)

227

194

Profit before income taxes:

85,213

48,249

(36,964)

(43.4)

455

389

Profit attributable to owners of
the parent:

59,614

34,360

(25,254)

(42.4)

324

277

Earnings per share attributable
to owners of the parent (basic):

164.64

94.8

-

-

0.89

0.76

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 = JPY106 and EUR1 = JPY124, rounded to the nearest unit (as of September 30, 2020)

Summary
While the crisis caused by the COVID-19 pandemic began easing gradually in the first half, economic conditions remained challenging. Sales revenue in the Components Business decreased, particularly in the Electronic Devices Group. Global production in automotive-related markets showed an improvement trend, but did not return to levels from the prior-year period. In the Equipment & Systems Business, sales revenue declined due mainly to decreased demand for document printers, multi-function peripherals (MFPs), and consumables in the Document Solutions Group. In addition, the Communication Group recorded decreased revenue from sales of mobile phone handsets and services related to environment and energy engineering. As a result, first-half sales revenue decreased by 12.9%, over the prior first half, to JPY696,037 (USD6,566) million.

Profit declined along with sales revenue. As compared to the prior first half, operating profit decreased by 60.1%, to JPY24,065 (USD227) million; profit before income taxes decreased by 43.4%, to JPY48,249 (USD455) million; and profit attributable to owners of the parent decreased by 42.4%, to JPY34,360 (USD324) million.

First-half average exchange rates show the Japanese yen unchanged from a year ago against the Euro, at JPY121, but strengthened by 1.8% against the U.S. dollar, to JPY107. After translation into yen, sales revenue and profit before income taxes were consequently pushed down by approximately JPY6 billion (USD56.6 million) and JPY1 billion (USD9.4 million), respectively, in comparison with the year-ago first half.

Consolidated Results of Operations: Second Quarter

Unit: Millions (except percentages)

Three Months Ended September 30,

2019
(FY20-Q2)
in JPY

2020
(FY21-Q2)
in JPY

Change

2020
(FY21-Q2)
in USD

2020
(FY21-Q2)
in EUR

Amount
in JPY

%

Sales revenue:

414,113

378,943

(35,170)

(8.5)

3,575

3,056

Operating profit:

37,691

16,491

(21,200)

(56.2)

156

133

Profit before income taxes:

39,727

17,838

(21,889)

(55.1)

168

144

Profit attributable to owners of
the parent:

27,577

11,980

(15,597)

(56.6)

113

97

(See note above regarding exchange rates.)

Consolidated Forecasts: Year Ending March 31, 2021
The company is making no change to its original forecasts for the fiscal year ending March 31, 2021, as announced on April 27, 2020. First-half results are within original projections, based on our continued assumption that global economy will gradually recover beginning in this second quarter, despite the COVID-19 pandemic. During the quarter ending December 31, 2020, the company expects automotive and document equipment markets to recover further, although demand for some products remains a concern due to rising U.S.-China trade friction. The company will continue to reduce costs and increase productivity thoroughly in our aim to achieve the original forecasts.

Unit: Yen in millions (except percentages, per-share amounts and exchange rates)
Fiscal 2020
Results
Fiscal 2021
Forecast
Announced on
April 27
Fiscal 2021
Forecast
Announced on
October 29
Change
(%) from
Fiscal 2020
Results
 
Sales revenue:

1,599,053

1,500,000

1,500,000

(6.2)

Operating profit:

100,193

75,000

75,000

(25.1)

Profit before income taxes:

148,826

120,000

120,000

(19.4)

 
Profit attributable to owners of the
parent:

107,721

88,000

88,000

(18.3)

 
Earnings per share attributable to
owners of the parent (basic):

297.36

242.92

242.80

*

-

 
Average USD exchange rate:

109

105

105

-

Average EUR exchange rate:

121

115

115

-

* Based on the average number of shares outstanding during the six months ended September 30, 2020.

Forward‐Looking Statements
Please refer to https://global.kyocera.com/ir/disclaimer.html

About KYOCERA

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, 2020, the company’s consolidated sales revenue totaled 1.6 trillion yen (approx. US$14.7 billion). Kyocera is ranked #549 on Forbes magazine’s 2020 “Global 2000” list of the world’s largest publicly traded companies.


Contacts

KYOCERA Corporation (Japan), Corporate Communications
Kenichi Hara, Tel: +81-(0)75-604-3416 Fax: +81-(0)75-604-3516
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