KYOCERA Announces Consolidated Financial Results for Three Months Ended June 30, 2013

  KYOCERA Announces Consolidated Financial Results for Three Months Ended June
  30, 2013

Business Wire

KYOTO, Japan -- August 1, 2013

Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its consolidated
financial results for the first quarter of fiscal year 2014 (the three months
ended June 30, 2013, or “Q1”), as summarized below. Complete details are
available at: http://global.kyocera.com/ir/financial/f_results.html


Financial Results: Three Months Ended June 30
Unit: Millions (except percentages and per-share amounts)
               Three months Ended June 30,
                                      Increase                  
               2012        2013        (Decrease)       2013        2013
                (FY13-Q1)   (FY14-Q1)   Amount           (FY14-Q1)   (FY14-Q1)
                in JPY      in JPY              %       in USD      in EUR
                                        in JPY
Net sales:      297,726     331,655     33,929   11.4    3,350       2,571
Profit (loss)
from            (2,002)     25,398      27,400   -       257         197
operations:
Income before   4,727       34,813      30,086   636.5   352         270
income taxes:
Net income
attributable
to              6,570       22,651      16,081   244.8   229         176
shareholders
of Kyocera
Corporation:
Diluted
earnings per
share
attributable   35.82      123.48     -       -      1.25       0.96
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 = JPY99 and EUR1 = JPY129,
rounded to the nearest unit.

Summary of Consolidated Financial Results
Digital consumer equipment, including the components required therein,
represents the principal market for Kyocera Corporation and its consolidated
subsidiaries (“Kyocera Group” or “Kyocera”). Compared with the three months
ended June 30, 2012 (the “prior period”), Q1 brought a combination of sluggish
demand for conventional mobile phones, PCs and flat-screen TVs, offset by
significant demand growth for smartphones and mobile computing tablets.
Additionally, Japan’s solar energy market expanded significantly over the
prior period, due primarily to growth in the public and commercial sectors
stimulated by the recent feed-in tariff for renewable energy.

Consolidated net sales for Q1 increased by 11.4% compared to the prior period,
to JPY331,655 (USD3,350) million, reflecting notable sales gains in the
Applied Ceramic Products Group and the Information Equipment Group, as well as
the effect of the yen’s depreciation. Profit grew considerably, reflecting the
impact of sales growth, enhanced productivity in the Components Business, and
the absence of an environmental remediation charge of JPY21,300 (USD266) ^
million^*1 in the prior period at U.S.-based consolidated subsidiary AVX
Corporation. Profit from operations increased to JPY25,398 (USD257) million
compared with an operating loss of JPY2,002 million in the prior period;
income before income taxes increased by 636.5%, to JPY34,813 (USD352) million;
and net income attributable to shareholders of Kyocera Corporation increased
by 244.8%, to JPY22,651 (USD229) million.

Kyocera experienced particularly strong sales growth in its Applied Ceramic
Products Group, which includes its solar energy, industrial cutting tool,
medical material, and ceramic kitchenware divisions. “In the solar energy
market, which demands long-term reliability, we are experiencing rapid growth
as a result of the strong performance of our products,” stated Kyocera
Corporation President Goro Yamaguchi. “Consequently, sales in this reporting
segment rose to an all-time first-quarter high, and operating profit increased
by 442% compared to the prior period.”

Consolidated Forecasts for the Year Ending March 31, 2014
While uncertainties remain concerning the European and Chinese economies going
forward, the Japanese and U.S. economies are expected to continue expanding in
the second quarter, and the business environment is projected to improve in
the digital consumer equipment and industrial machinery markets. In addition,
demand for solar power generating systems is projected to continue rising in
Japan.

Based on this business environment, there is no change to the sales and profit
forecasts for fiscal 2014 that were announced on April 25, 2013. However,
Kyocera has revised full-year exchange rate forecasts based on the results of
the first quarter.


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 to shareholders of      362.36        523.34        -
Kyocera Corporation:
Average USD exchange rate:           83            96            -
Average EUR exchange rate:           107           124           -


NOTE: Forecast of earnings per share is computed based on the diluted average
number of shares outstanding during the three months ended June 30, 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 integrating them with other
technologies, Kyocera has become a leading supplier of solar power generating
systems, mobile phones, printers, copiers, electronic components,
semiconductor packages, cutting tools and industrial ceramics. During the year
ended March 31, 2013, the company’s net sales totaled 1.28 trillion yen
(approx. USD13.6 billion). 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
webmaster.pressgl@kyocera.jp
Fax: +81-(0)75-604-3516
 
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