Ups and Downs for Kyocera – Revenue and Profits for 2019

Ups and Downs for Kyocera – Revenue and Profits for 2019

Kyocera reports sales revenue decline from its electronic devices and document solution group for 2019, which ended on March 31 (Fiscal 2020).

Meanwhile, its profit increased despite higher depreciation costs, mainly due to the absence of one-time charges totalling approximately JPY68.5 billion (USD628 million) that were recorded in the prior year – including, notably, structural reforms in the solar energy and organic materials businesses.

Some highlights include:

• sales revenue for fiscal year 2020 totaled JPY1,599,053 (USD14,670) million, a decrease of 1.5% from the prior-year period;
• Operating profit increased by JPY5,370 (USD49) million, or 5.7%, to JPY100,193 (USD919) million; profit before income taxes increased by JPY8,216 (USD75) million, or 5.8%, to JPY148,826 (USD1,365) million; and profit attributable to owners of the parent increased by JPY4,511 (USD41) million, or 4.4%, to JPY107,721 (USD988) million.
• sales revenue and profit before income taxes were pushed down by approximately JPY36 billion (USD330 million) and JPY11.5 billion (USD106 million) respectively, due to the fluctuation of average exchange rates for the period.

Facing this uncertain economic environment caused by the COVID-19 pandemic, the company states in its outlook for 2021 that it will pursue new business opportunities, improve productivity and reduce costs by incorporating artificial intelligence and automation to achieve its financial forecasts.

Related:

• Canon Reports Mixed Q1 Results Due to COVID-19
• China Publicly Listed Companies Impacted by COVID-19
• Kyocera Welcomes New Senior Director

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