Categories: Wire Stories

Kyocera Announces Consolidated Financial Results for Year Ended March 31, 2024

KYOTO, Japan–(BUSINESS WIRE)–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
Amount
in 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
Amount
in 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 2024
Results
Fiscal 2025 Forecasts Change
(%) from
Fiscal 2024
Results
 
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 to
owners 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.

Contacts

KYOCERA Corporation (Japan)

Corporate Communications

Kenichi Hara

Tel: +81-(0)75-604-3514

Fax: +81-(0)75-604-3516

webmaster.pressgl@kyocera.jp

Alex

Recent Posts

The Top 10 Best Places to Work in Egypt for 2024 revealed

CAIRO, EGYPT - Media OutReach Newswire - 23 December 2024 - Eand, Novo Nordisk, BSH,…

32 minutes ago

Trend Micro Named a Magic Quadrant Leader for Email Security Platforms

Trend Vision One™ – Email and Collaboration Security is a critical part of Trend’s centralized…

2 hours ago

Hollywood’s Style Icon Zendaya Makes Her Stunning Wax Debut at Madame Tussauds Singapore

SINGAPORE - Media OutReach Newswire - 23 December 2024 - Madame Tussauds Singapore is proud…

3 hours ago

Star-Studded Christmas Music Gala Lights Up the Stage

TAIPEI, TAIWAN - Media OutReach Newswire - 23 December 2024 – The 2024 Christmasland in…

6 hours ago

Graphisoft Strengthens Presence in Southeast Asia Amid BIM Demand Surge

Hungarian-based technology leader underscores its commitment to education, sustainability, and innovation SINGAPORE - Media OutReach…

8 hours ago