Kyocera Corporation (TOKYO:6971) today announced its
consolidated financial results for the fiscal year ended March 31,
2024 (“fiscal year 2024” or the “period”), as summarized below.
Complete details are available at:
https://global.kyocera.com/ir/library/f_results.html
Consolidated Results: Year-Over-Year
Unit: Millions (except percentages and per-share amounts) Year
Ended March 31, 2023(FY23)in JPY 2024(FY24)in JPY Change
2024(FY24)in USD 2024(FY24)in EUR Amountin JPY % Sales revenue:
2,025,332
2,004,221
(21,111)
(1.0)
13,273
12,296
Operating profit:
128,517
92,923
(35,594)
(27.7)
615
570
Profit before income taxes:
176,192
136,143
(40,049)
(22.7)
902
835
Profit attributable to owners of the parent:
127,988
101,074
(26,914)
(21.0)
669
620
Earnings per share attributable to owners of the parent (basic)*:
89.15
71.58
-
-
0.47
0.44
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 = JPY151 and EUR1 = JPY163, rounded to
the nearest unit (as of March 29, 2024) * Earnings per share is
recalculated to reflect the previously announced 4-for-1 stock
split (effective January 1, 2024)
Summary The global economy remained generally solid
during this period, with growth rates slowed by monetary policies
in many regions and rising geopolitical risks. While orders
recovered in the company’s key automotive components market, the
semiconductor- and information & communication-related markets
continued to struggle with inventory adjustments, leaving the
recovery incomplete.
As compared to the prior fiscal year, consolidated sales revenue
decreased by 1.0%, to JPY2,004,221 (USD13,273) million, due mainly
to lower demand for major products in the Core Components and
Electronic Components businesses, which more than offset increased
sales revenue in the company’s Solutions business.
Consolidated profits declined also, due mainly to lower
production capacity utilization rates caused by reduced orders, as
well as an increase in labor expenses and other costs. Nonetheless,
the company continued proactive capital investment to allow
production expansion as recovery occurs in the future.
As a result, operating profit decreased by 27.7%, to JPY92,923
(USD615) million; profit before income taxes decreased by 22.7%, to
JPY136,143 (USD902) million; and profit attributable to owners of
the parent decreased by 21.0%, to JPY101,074 (USD669) million.
Consolidated Financial Highlights: Fourth Quarter
Unit: Millions (except percentages) Three Months Ended March 31,
2023(FY23-Q4)in JPY 2024(FY24-Q4)in JPY Change 2024(FY24-Q4)in USD
2024(FY24-Q4)in EUR Amountin JPY % Sales revenue:
498,835
511,549
12,714
2.5
3,388
3,138
Operating profit:
14,633
13,079
(1,554)
(10.6)
87
80
Profit before income taxes:
13,436
10,505
(2,931)
(21.8)
70
64
Profit attributable to owners of the parent:
9,205
10,708
1,503
16.3
71
66
(See note above regarding exchange rates)
Consolidated Forecasts: Year Ending March 31, 2025 During
fiscal year 2025, inventory adjustments are expected to continue in
the semiconductor- and information & communication-related
markets, which comprise the company’s major source of revenue;
however, recovery is anticipated in the latter half (i.e., the six
months ending March 31, 2025).
Kyocera aims to expand its business in the Core Components and
Electronic Components segments by preparing thoroughly for a
recovery in demand for semiconductor- and information &
communication-related components, following our proactive and
strategic capital investment initiative. In the Solutions segment,
the company seeks to develop new products, services, and
businesses. At the same time, Kyocera will strive to improve
profitability through continued implementation of structural
reforms aimed at revitalizing lower-profit, lower-growth
businesses.
The consolidated financial forecasts outlined below are based on
expected exchange rates of JPY145 to the U.S. dollar and JPY155 to
the euro during the fiscal year ending March 31, 2025.
Unit: Yen in millions (except percentages, per-share amounts and
exchange rates) Fiscal 2024Results Fiscal 2025 Forecasts Change(%)
fromFiscal 2024Results Sales revenue:
2,004,221
2,050,000
2.3
Operating profit:
92,923
110,000
18.4
Profit before income taxes:
136,143
150,000
10.2
Profit attributable to owners of the parent:
101,074
112,000
10.8
Earnings per share attributable toowners of the parent (basic):
71.58
79.31
*
-
Average USD exchange rate:
145
145
-
Average EUR exchange rate:
157
155
-
*Based on the average number of shares outstanding during the year
ended March 31, 2024
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. Kyocera is ranked #672 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240425111670/en/
KYOCERA Corporation (Japan) Corporate Communications Kenichi
Hara Tel: +81-(0)75-604-3514 Fax: +81-(0)75-604-3516
webmaster.pressgl@kyocera.jp