Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its
consolidated financial results for the fiscal year ended March 31,
2016, 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,
2015(FY15)in JPY
2016(FY16)in JPY
Increase(Decrease)
2016(FY16)in USD
2016(FY16)in EUR
Amount
in JPY
% Net sales: 1,526,536 1,479,627 (46,909) (3.1) 13,131
11,587 Profit from operations: 93,428 92,656 (772) (0.8) 822 726
Income before income taxes: 121,862 145,583 23,721 19.5 1,292 1,140
Net income attributable toshareholders of
KyoceraCorporation:
115,875 109,047 (6,828) (5.9) 968 854
Diluted earnings per shareattributable to
shareholders ofKyocera Corporation:
315.85 297.24 - - 2.64
2.33
Note: As a convenience to the reader, U.S. dollar (USD) and euro
(EUR) conversions are provided based on the rates of USD1 =
JPY112.68 and EUR1 = JPY127.70, rounded to the nearest unit.
Consolidated Results Summary
During fiscal year 2016, the Company recorded increased sales in
the Fine Ceramic Parts Group and the Electronic Device Group, with
particular sales gains from components used in smartphones and
automotive applications. However, these increases were offset by
reduced sales in the Telecommunications Equipment Group and the
Applied Ceramic Products Group, which includes the solar energy
business.
Despite one-time charges totaling approximately JPY23 billion —
including a goodwill impairment in the Electronic Device Group —
profit from operations remained flat against the prior fiscal year,
due primarily to profitability improvements attained through cost
reduction in the Applied Ceramic Products Group. Income before
income taxes increased, due primarily to a gain on an asset sale
totaling approximately JPY20 billion. Net income attributable to
shareholders of Kyocera Corporation decreased in fiscal year 2016
as compared to the previous fiscal year, due to a decrease in
benefits derived from revaluations of deferred tax assets and
liabilities in line with revisions in Japan’s tax system.
In summary, consolidated net sales for fiscal year 2016
decreased 3.1% as compared to the previous year, to JPY1,479,627
(USD13,131) million; profit from operations decreased 0.8%, to
JPY92,656 (USD822) million; income before income taxes increased
19.5%, to JPY145,583 (USD1,292) million; and net income
attributable to shareholders of Kyocera Corporation decreased 5.9%,
to JPY109,047 (USD968) million.
Consolidated Q4 Results,
Year-Over-Year
Unit: Millions (except percentages)
Three Months Ended March 31,
2015(FY15-Q4)in JPY
2016(FY16-Q4)in JPY
Increase(Decrease)
2016(FY16-Q4)in USD
2016(FY16-Q4)in EUR
Amount
in JPY
% Net sales: 424,844 386,597 (38,247) (9.0) 3,431 3,027
Profit from operations: 3,206 26,636 23, 430 730.8 236 209 Income
before income taxes: 7,195 48,193 40,998 569.8 428 377
Net income attributable toshareholders of
KyoceraCorporation:
41,904 49,543 7,639 18.2 440
388
Note: As a convenience to the reader, U.S. dollar (USD) and euro
(EUR) conversions are provided based on the rates of USD1 =
JPY112.68 and EUR1 = JPY127.70, rounded to the nearest unit.
Consolidated Forecast: Year Ending March 31, 2017
For the year ending March 31, 2017 (“fiscal 2017”), most
economists anticipate continued expansion in the U.S. economy, low
rates of growth in the Japanese and EU economies, and a declining
growth rate in China. With regard to the principal markets served
by Kyocera, early indicators suggest steady expansion in global
automotive demand, stagnant demand in the mobile phone handset
market globally and a contraction in demand for solar power
generating systems in Japan. In light of these conditions, Kyocera
projects consolidated financial results for fiscal 2017 as shown
below.
Unit: Yen in millions
(except percentages, per-share amounts and
exchange rates)
Fiscal 2016Results
Fiscal 2017Forecast
Increase(Decrease)
(%) to Fiscal2016 Results
Net sales: 1,479,627
1,520,000 2.7 Profit from operations:
92,656
110,000 18.7 Income before income taxes: 145,583
130,000 (10.7)
Net income attributable toshareholders of
Kyocera Corporation:
109,047
85,000 (22.1)
Diluted earnings per share attributableto
shareholders of Kyocera Corporation*:
297.24
231.70 - Average USD exchange rate: 120
110 -
Average EUR exchange rate: 133
120 -
*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, 2016.
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 2014 and 2015 listings of the “Top
100 Global Innovators” by Thomson Reuters, and is ranked #552 on
Forbes magazine’s current “Global 2000” listing of the world’s
largest publicly traded companies.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160426007032/en/
KYOCERA Corporation (Japan)Hina Morioka,
+81-(0)75-604-3416Corporate
Communicationswebmaster.pressgl@kyocera.jpFax:
+81-(0)75-604-3516
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