Kyocera Corporation today announced consolidated financial results for the first half of fiscal year 2014 (“first half” or “FY14-H1,” covering the six months ended September 30, 2013), as summarized below. Details are available at: http://global.kyocera.com/ir/financial/f_results.html
Digital equipment, including the components required therein, represents the principal market for Kyocera Corporation and its consolidated subsidiaries (“the Kyocera Group” or “Kyocera”). While the first half brought weaker demand for conventional mobile phones, PCs and flat-screen TVs, rising demand for smartphones and tablet PCs led to growth in the digital equipment market overall as compared to the prior first half. Additionally, the solar energy market expanded, most significantly in Japan. Stronger demand and improved productivity allowed Kyocera to enhance profitability in all Components Business segments, especially the Applied Ceramic Products Group (which includes the solar energy business). Moreover, first-half profit grew considerably due to the absence of an environmental remediation charge of JPY21,300 (USD266)million*2 recorded in the previous first half at AVX Corporation, a U.S.-based consolidated subsidiary.
Consolidated net sales increased 15.0% over the prior first-half results, to JPY699,663 (USD7,139) million; profit from operations increased 124.8%, to JPY58,203 (USD594) million; income before income taxes increased 93.3%, to JPY69,053 (USD705) million; and net income attributable to shareholders of Kyocera Corporation increased 69.2%, to JPY42,930 (USD438) million.
“In the first half, consolidated sales increased significantly in our solar energy, telecommunications equipment, and information equipment businesses. Combined with the effects of the yen’s depreciation against the dollar and euro, we achieved a 15 percent revenue increase year-on-year and recorded our highest half-year sales to date,” said Kyocera Corporation President Goro Yamaguchi. “We also expect to see continued strong sales of solar products in the second half, and have thus upwardly revised our previously announced solar sales target of 1 gigawatt to 1.2 gigawatts for the fiscal year.”