Kyocera Releases 2017 Financial Results

Kyocera Corporation has announced its financial results during the nine months ended December 31, 2017.

According to the report, sales in the Electronic Devices Group and Industrial & Automotive Components Group increased significantly on the back of strong component demand in information and communications, automotive-related and industrial machinery markets.

Sales in the Document Solutions Group also increased due to new product introductions and aggressive sales promotion activities. Consolidated net sales for the nine months increased by ¥130,388 million, or 12.9%, compared with the nine months ended December 31, 2016 (“the previous nine months”) to ¥1,145,016 million due partly to contributions from merger and acquisition activity.

This result is a record high for the nine-month period.

Profit increased significantly compared with the previous nine months due to an increase in sales and a reduction in costs. Profit from operations increased by ¥41,882 million, or 62.4%, to ¥108,984 million and income before income taxes increased by ¥46,158 million, or 46.8%, to ¥144,864 million compared with the previous nine months.

Net income attributable to Kyocera Corporation’s shareholders for the nine months increased by ¥19,415 million, or 27.4%, to ¥90,267 million. Net income attributable to Kyocera Corporation’s shareholders decreased by approximately ¥11 billion in the third quarter (October 1 to December 31, 2017) due to tax expenses in our subsidiaries such as AVX Corporation, a U.S. subsidiary, primarily resulting from tax law revisions in the United States.

Average exchange rates for the nine months were ¥112 to the U.S. dollar, marking depreciation of the yen by ¥5 (4.7%), and ¥129 to
the Euro, marking depreciation of the yen by ¥11 (9.3%), compared with the previous nine months. As a result, net sales and income
before income taxes after translation into yen for the nine months increased by approximately ¥39 billion and ¥13 billion, respectively,
compared with the previous nine months.