Kyocera Releases H1 Financial Results

Kyocera Corporation releases consolidated financial results for the first half of fiscal year 2018 on October 30.

Robust market conditions for information and telecommunications equipment, automobiles, and industrial machinery fueled a significant increase in first-half revenue from industrial components, automotive components and electronic devices. Revenue from document solutions business expanded as well, following new product launches and related sales promotion activities. As a result, the company achieved record first-half sales of JPY738, 345 (USD6, 534) million, an increase of JPY85, 102 (USD753) million, or 13.0%, over the same period of the prior year.

Profit increased significantly in the components business and equipment & systems business due mainly to corporate restructuring implemented during the prior year, as well as to stronger sales and cost reduction efforts. Profit from operations increased 105.7%, to JPY69, 505 (USD615) million; income before income taxes increased 80.8%, to JPY87, 840 (USD777) million; and net income attributable to shareholders of Kyocera Corporation increased 69.8%, to JPY61, 387 (USD543) million.

Average exchange rates for the first half reflect the Japanese yen weakening against the U.S. dollar by approximately 5.7%, to JPY111, and by 6.8% against the euro, to JPY126, as compared with the same period of the prior year. As a result, net sales and income before income taxes were pushed up by approximately JPY24 billion and JPY7 billion, respectively, as compared with the prior first half.