KYOCERA Announces Consolidated Financial Results for Year Ended March 31, 2013 Company to increase shareholder dividend for fiscal 2014 Business Wire KYOTO, Japan -- April 25, 2013 Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its consolidated financial results for the fiscal year ended March 31, 2013, 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, 2012 2013 Increase 2013 2013 (FY12) (FY13) (Decrease) (FY13) (FY13) in JPY in JPY Amount % in USD in EUR in JPY Net sales: 1,190,870 1,280,054 89,184 7.5 13,618 10,579 Profit from 97,675 76,926 (20,749) (21.2) 818 636 operations: Income before 114,893 101,363 (13,530) (11.8) 1,078 838 income taxes: Net income attributable to 79,357 66,473 (12,884) (16.2) 707 549 shareholders of Kyocera Corporation: Diluted earnings per share attributable 432.58 362.36 - - 3.85 2.99 to shareholders of Kyocera Corporation: Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are provided based on the rates of USD1 = JPY94 and EUR1 = JPY121, rounded to the nearest unit. Summary of Consolidated Financial Results The year ended March 31, 2013 ("the period") was characterized by slower growth in demand for digital consumer equipment, the principal market for the Kyocera Group, as compared with the fiscal year ended March 31, 2012 ("the prior period"). However, Japan's solar energy market expanded substantially on stronger demand for residential solar electric generating systems, as well as the introduction of a new feed-in tariff in July 2012 that created a sharp increase in demand for public, industrial and utility-scale solar power projects. Consolidated net sales for the period consequently increased 7.5% compared to the prior period, to JPY1,280,054 (USD13,618) million, due primarily to growth in the Applied Ceramic Products Group and the Semiconductor Parts Group, along with the full-year contribution of a consolidated subsidiary newly added partway through the prior period. However, profit was impacted by a JPY21,300 (USD266) million charge^1 recorded at AVX Corporation, a U.S.-based subsidiary, for environmental remediation in New Bedford Harbor, Massachusetts (U.S.A.). Due in part to this charge, profit from operations decreased 21.2%, to JPY 76,926 (USD818) million; income before income taxes decreased 11.8%, to JPY101,363 (USD1,078) million; and net income attributable to shareholders of Kyocera Corporation decreased 16.2%, to JPY 66,473 (USD707) million. Financial Results: Three Months Ended March 31 Unit: Millions (except percentages) Three Months Ended March 31, 2012 2013 Increase 2013 2013 (FY12-Q4) (FY13-Q4) (Decrease) (FY13-Q4) (FY13-Q4) in JPY in JPY Amount % in USD in EUR in JPY Net sales: 305,481 353,530 48,049 15.7 3,761 2,922 Profit from 9,302 25,692 16,390 176.2 273 212 operations: Income before 12,289 32,481 20,192 164.3 346 268 income taxes: Net income attributable to 7,247 21,503 14,256 196.7 229 178 shareholders of Kyocera Corporation: Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are provided based on the rates of USD1 = JPY94 and EUR1 = JPY121, rounded to the nearest unit. Consolidated Forecast for the Year Ending March 31, 2014 During the year ending March 31, 2014 ("fiscal 2014"), global production of digital consumer equipment, including smartphones and tablet PCs, is expected to begin a recovery trend. In addition, a moderate recovery in production levels is expected in the industrial machinery and automotive markets, along with continued growth in Japan's solar energy market. Consequently, the business climate surrounding Kyocera for fiscal 2014 is expected to improve as compared with fiscal 2013. Kyocera intends to take full advantage of this recovering business environment by turning these trends into improved performance. In its Components Business, Kyocera will work to further increase sales and to improve profitability through reduction of manufacturing costs by commencing production this summer at a new plant in Vietnam to serve growing demand, and by developing its solar energy business through the comprehensive capabilities of the Kyocera Group. In addition, Kyocera will target revenue and profit growth in its Equipment Business by increasing sales of mobile phone handsets through new and expanded telecommunications carrier relationships in North America, and by increasing production of document imaging equipment in Vietnam. Kyocera will also develop new opportunities to integrate group-wide manufacturing, development and marketing capabilities in both the component and equipment businesses. Through these initiatives, Kyocera aims to expand business by strengthening new-product development and increasing market share. "Kyocera has always believed in passing on the profits of its operations to shareholders through dividends," stated newly appointed president of Kyocera Corporation, Goro Yamaguchi. "I am pleased to announce that Kyocera will increase its dividend payout ratio on a consolidated basis in order to further enhance shareholder returns and expand the shareholder base. In view of the forecast for fiscal 2014, we expect to increase full-year dividends by JPY40 compared to fiscal 2013, to JPY160 per share." Consolidated Forecast: Year Ending March 31, 2014 Unit: Yen in millions (except percentages, per-share amounts and exchange rates) Increase Fiscal 2013 Fiscal 2014 (Decrease) Results Forecast (%) to Fiscal 2013 Results Net sales: 1,280,054 1,400,000 9.4 Profit from operations: 76,926 140,000 82.0 Income before income taxes: 101,363 150,000 48.0 Net income attributable to shareholders of Kyocera 66,473 96,000 44.4 Corporation: Diluted earnings per share attributable 362.36 523.33 - to shareholders of Kyocera Corporation: Average USD exchange rate: 83 95 - Average EUR exchange rate: 107 123 - NOTE: Forecast of earnings per share is computed based on the diluted average number of shares outstanding during the year ended March 31, 2013. ^1 This charge was converted into yen using the P&L rate of USD1 = JPY80, the average exchange rate in FY13-Q1, rounded to the nearest unit, according to the actual amount recorded in Kyocera's FY13-Q1 consolidated results. FORWARD-LOOKING STATEMENTS Except 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. The company is ranked #492 on Forbes magazine's 2013 "Global 2000" listing of the world's largest publicly traded companies. Contact: KYOCERA Corporation (Japan) Judah Reynolds, +81-(0)75-604-3416 Corporate Communications firstname.lastname@example.org Fax: +81-(0)75-604-3516
KYOCERA Announces Consolidated Financial Results for Year Ended March 31, 2013
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