KYOCY Kyocera Corporation (PK)

Consolidated sales reach all-time high for second consecutive year

Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its consolidated financial results for the fiscal year ended March 31, 2015, as summarized below. Complete details are available at: http://global.kyocera.com/ir/financial/f_results.html

 

Consolidated Results: Year-Over-Year

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

    Years Ended March 31,

2014(FY14)in JPY

 

2015(FY15)in JPY

 

Increase(Decrease)

 

2015(FY15)in USD

 

2015(FY15)in EUR

Amountin JPY

  % Net sales: 1,447,369 1,526,536 79,167 5.5 12,721 11,743 Profit from operations: 120,582 93,428 (27,154) (22.5) 779 719 Income before income taxes: 146,268 121,862 (24,406) (16.7) 1,016 937

Net income attributable toshareholders of KyoceraCorporation:

88,756 115,875 27,119 30.6 966 891

Diluted earnings per shareattributable to shareholders ofKyocera Corporation:

  241.93   315.85   -   -   2.63   2.43

Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are provided based on the rates of USD1 = JPY120 and EUR1 = JPY130, rounded to the nearest unit.

Consolidated Results Summary

With regard to the principal markets served by Kyocera Corporation and its consolidated subsidiaries (the “Kyocera Group” or “Kyocera”), the year ended March 31, 2015 (“the period”) brought rising demand for smartphones, as well as increased sales of automobiles especially in the United States and China. Japan’s solar energy market slowed due to the end of subsidies for new residential solar power systems and the suspension of utility-grid access applications.

Kyocera recorded its highest annual consolidated revenue for the second consecutive year, led by increased sales in its Components Business, which mainly serves producers of automobiles, smartphones, telecommunications infrastructure, and industrial machinery. The company’s Equipment Business also recorded sales growth, particularly outside of Japan, due to the launch of new products and outreach to new customers. Profit increased in the Fine Ceramic Parts Group, Semiconductor Parts Group, Electronic Device Group and Information Equipment Group due to higher sales and successful cost containment. Nonetheless, Kyocera’s consolidated results in profit from operations and income before income taxes decreased, due mainly to the recording of losses related to asset impairments in the Applied Ceramic Products Group and Telecommunications Equipment Group.

In summary, consolidated net sales increased 5.5% over the prior period, to JPY1,526,536 (USD12,721) million; profit from operations decreased 22.5%, to JPY93,428 (USD779) million; and income before income taxes decreased 16.7%, to JPY121,862 (USD1,016) million. Net income attributable to shareholders of Kyocera Corporation increased 30.6%, to JPY115,875 (USD966) million, due primarily to the revaluation of deferred tax assets and liabilities in line with a revision of the Japanese tax system, resulting in an increase of approximately JPY36,300 (USD303) million.

 

Consolidated Q4 Results, Year-Over-Year

Unit: Millions (except percentages)

    Three Months Ended March 31,

2014(FY14-Q4)in JPY

 

2015(FY15-Q4)in JPY

 

Increase(Decrease)

 

2015(FY15-Q4)in USD

 

2015(FY15-Q4)in EUR

Amountin JPY

  % Net sales: 375,981 424,844 48,863 13.0 3,540 3,268 Profit from operations: 30,886 3,206 (27,680) (89.6) 27 25 Income before income taxes: 35,924 7,195 (28,729) (80.0) 60 55

Net income attributable toshareholders of KyoceraCorporation:

  19,392   41,904   22,512   116.1   349   322

Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are provided based on the rates of USD1 = JP120 and EUR1 = JPY130, rounded to the nearest unit.

Consolidated Forecast: Year Ending March 31, 2016

During the year ending March 31, 2016 (“Fiscal 2016”), the Japanese economy is expected to head toward recovery as personal consumption and private capital investment rebound. The European economy is expected to continue expanding moderately, while the U.S. economic forecast calls for steady growth.

With regard to Kyocera’s core markets, component demand is expected to increase in the information and communications field, based on continued growth in sales of smartphones and infrastructure equipment such as telecommunications base stations. In automotive markets, Kyocera forecasts higher demand for electronic components and devices due to expanding automobile production and the rising electronic content of in-vehicle safety and emissions systems. In the environment and energy market, demand for Home Energy Management Systems (HEMS) and power-storage units is expected to grow despite an anticipated contraction in Japan’s solar energy market.

Kyocera will strive to capitalize on expanding markets and strengthen production capacity in both the Components Business and Equipment Business with the aim of achieving record sales for the third consecutive year. At the same time, efforts will be made to boost profitability through comprehensive cost containment in order to achieve full-year consolidated financial forecasts.

 

Consolidated Forecast: Year Ending March 31, 2016

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

Fiscal 2015Results

 

Fiscal 2016Forecast

 

Increase(Decrease)(%) to Fiscal2015 Results

Net sales: 1,526,536 1,600,000 4.8 Profit from operations: 93,428 160,000 71.3 Income before income taxes: 121,862 184,000 51.0

Net income attributable toshareholders of Kyocera Corporation:

115,875 120,000 3.6

Diluted earnings per share attributableto shareholders ofKyocera Corporation*:

315.85 327.10 - Average USD exchange rate: 110 115 - Average EUR exchange rate: 139 125 -

* Forecast of “Diluted earnings per share attributable to shareholders of Kyocera Corporation” is based on the diluted average number of shares outstanding during the year ended March 31, 2015.

FORWARD-LOOKING STATEMENTS

Except 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 KYOCERA

Kyocera 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 electronic components, printers, copiers, solar power generating systems, mobile phones, semiconductor packages, cutting tools and industrial ceramics. Kyocera appears on the latest listing of the “Top 100 Global Innovators” by Thomson Reuters, and is ranked #531 on Forbes magazine’s current “Global 2000” listing of the world’s largest publicly traded companies.

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