Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its
consolidated financial results for the fiscal year ended March 31,
2012, as summarized below. Complete details are available at:
http://global.kyocera.com/ir/financial/f_results.html
Financial Results: Years Ended March
31
Unit: Millions (except percentages and
per-share amounts)
Years Ended March 31
2011(FY11)in JPY
2012(FY12)in JPY
Increase(Decrease)
2012(FY12)in USD
2012(FY12)in EUR
Amountin JPY
% Net sales 1,266,924 1,190,870 (76,054) (6.0) 14,523 10,826
Profit from operations 155,924 105,575 (50,349) (32.3) 1,288 960
Income before income taxes 172,332 122,793 (49,539) (28.7) 1,497
1,116
Net income attributable toshareholders of
KyoceraCorporation
122,448 82,901 (39,547) (32.3) 1,011 754
Diluted earnings per shareattributable to
shareholdersof Kyocera Corporation
667.23 451.90 - - 5.51
4.11 Note: As a convenience to the reader, U.S. dollar (USD) and
euro (EUR) conversions are provided based on the rates of USD1 =
JPY82 and EUR1 = JPY110, rounded to the nearest unit.
Summary of Consolidated Financial ResultsWhile sales and
operating profit increased in some reporting segments during the
year ended March 31, 2012 ("the period"), these gains were not
sufficient to offset the negative impact of other factors
influencing Kyocera's consolidated results — including the yen's
continued appreciation against the euro and U.S. dollar; weak
demand for components used in consumer electronic equipment; and a
decline in sales of mobile phones. Consequently, Kyocera's overall
results declined during the period in comparison with the year
ended March 31, 2011 ("the prior period").
Specifically, consolidated net sales for the period decreased
6.0% compared to the prior period, to JPY1,190,870 (USD14,523)
million; profit from operations decreased 32.3%, to JPY105,575
(USD1,288) million; income before income taxes decreased 28.7%, to
JPY122,793 (USD1,497) million; and net income attributable to
shareholders of Kyocera Corporation decreased 32.3%, to JPY82,901
(USD1,011) million.
"Although this fiscal year was characterized by a difficult
business environment, we nevertheless made strategic efforts
through merger and acquisition to enhance the future growth
prospects of the Kyocera Group," stated Tetsuo Kuba, president of
Kyocera Corporation. "In July 2011 we added the Denmark-based
industrial cutting tools manufacturer Unimerco Group A/S as a
wholly owned subsidiary; as well as the Japan-based LCD
manufacturer Optrex Corporation in February of this year. These
acquisitions will allow us to further expand our sales networks and
enhance our business in each respective market."
Financial Results: Three Months Ended
March 31
Unit: Millions (except percentages)
Three Months Ended March 31
2011(FY11-Q4)in JPY
2012(FY12-Q4)in JPY
Increase(Decrease)
2012(FY12-Q4)in USD
2012(FY12-Q4)in EUR
Amountin JPY
% Net sales 310,010 305,481 (4,529) (1.5) 3,725 2,777 Profit
from operations 36,155 17,202 (18,953) (52.4) 210 156 Income before
income taxes 39,196 20,189 (19,007) (48.5) 246 184
Net income attributable toshareholders of
KyoceraCorporation
28,731 10,791 (17,940) (62.4)
132 98 Note: As a convenience to the reader, U.S. dollar
(USD) and euro (EUR) conversions are provided based on the rates of
USD1 = JPY82 and EUR1 = JPY110, rounded to the nearest unit.
Consolidated Forecasts for the Year Ending March 31,
2013During the year ending March 31, 2013 ("fiscal 2013"),
despite uncertainties regarding the European economy and exchange
rates, the Japanese economy is forecast to move toward recovery due
to demand from reconstruction projects following the Great East
Japan Earthquake. In addition, the U.S. economy is expected to
recover moderately while the Chinese economy is expected to show
continued strong growth.
Kyocera expects recovery in production of consumer electronic
equipment as the impact of the Thai floods dissipates; as well as
an increase in demand for components, primarily for smartphones. In
the environment and energy markets, demand is expected to show
general improvement compared with fiscal 2012, primarily due to
projected growth from the expansion of government subsidy policies,
including the implementation of Japan's Renewable Energy Law.
Kyocera aims to enhance its financial performance and expand its
business in these potentially high-growth markets by introducing
new products, reducing costs, boosting productivity, and pursuing
synergies within the Kyocera Group. Specific financial forecasts
for fiscal 2013 are as follows.
Consolidated Forecasts: Year Ending
March 31, 2013
Unit: Yen in millions (except percentages, per-share amounts and
exchange rates)
Fiscal 2012Results
Fiscal 2013Forecasts
Increase(Decrease)(%) to Fiscal2012
Results
Net sales 1,190,870 1,370,000 15.0 Profit from operations 105,575
140,000 32.6 Income before income taxes 122,793 151,200 23.1
Net income attributable toshareholders of
Kyocera Corporation
82,901 96,000 15.8
Diluted earnings per share attributableto
shareholders of Kyocera Corporation
451.90 523.30 - Average USD exchange rate 79 80 - Average EUR
exchange rate 109 105 - NOTE: Forecast of earnings per share is
computed based on the diluted average number of shares outstanding
during the year ended March 31, 2012.
FORWARD-LOOKING STATEMENTSExcept 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 plastics, and integrating them
with other technologies, Kyocera has become a leading supplier of
printers, copiers, solar power generating systems,
telecommunications equipment, electronic components, semiconductor
packages, cutting tools and industrial ceramics. During the year
ended March 31, 2012, the company's net sales totaled 1.19 trillion
yen (approx. USD14.5 billion). The company is ranked #426 on Forbes
magazine's 2012 "Global 2000" listing of the world's largest
publicly traded companies.
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