KYOCERA Announces Consolidated Financial Results for Six Months Ended September 30, 2013

  KYOCERA Announces Consolidated Financial Results for Six Months Ended
  September 30, 2013

  Company raises full-year forecasts for sales amid strong demand for solar
       energy and the acquisition of NEC Toppan Circuit Solutions, Inc.

Business Wire

KYOTO, Japan -- October 31, 2013

Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced consolidated
financial results for the first half of fiscal year 2014 (“first half” or
“FY14-H1,” covering the six months ended September 30, 2013), as summarized
below. Details are available at:
http://global.kyocera.com/ir/financial/f_results.html

                
Consolidated Financial Highlights: First Half
Unit: Millions (except percentages and per-share amounts)
                  Six Months Ended September 30,
                  2012       2013       Increase        2013       2013
                 (FY13-H1)   (FY14-H1)   (Decrease)       (FY14-H1)   (FY14-H1)
                  in JPY      in JPY      Amount  %       in USD      in EUR
                                          in JPY
Net sales:        608,431     699,663     91,232   15.0    7,139       5,300
Profit from       25,891      58,203      32,312   124.8   594         441
operations:
Income before     35,732      69,053      33,321   93.3    705         523
income taxes:
Net income
attributable to
shareholders of   25,371      42,930      17,559   69.2    438         325
Kyocera
Corporation:
Diluted
earnings per
share
attributable to  69.15      117.02     -       -      1.19       0.89
shareholders
of Kyocera
Corporation*^1:
Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR)
conversions are provided at the rates of USD1 = JPY98 and EUR1 = JPY132, rounded
to the nearest unit.


Summary

Digital equipment, including the components required therein, represents the
principal market for Kyocera Corporation and its consolidated subsidiaries
(“the Kyocera Group” or “Kyocera”). While the first half brought weaker demand
for conventional mobile phones, PCs and flat-screen TVs, rising demand for
smartphones and tablet PCs led to growth in the digital equipment market
overall as compared to the prior first half. Additionally, the solar energy
market expanded, most significantly in Japan. Stronger demand and improved
productivity allowed Kyocera to enhance profitability in all Components
Business segments, especially the Applied Ceramic Products Group (which
includes the solar energy business). Moreover, first-half profit grew
considerably due to the absence of an environmental remediation charge of
JPY21,300 (USD266) ^ million^*2 recorded in the previous first half at AVX
Corporation, a U.S.-based consolidated subsidiary.

Consolidated net sales increased 15.0% over the prior first-half results, to
JPY699,663 (USD7,139) million; profit from operations increased 124.8%, to
JPY58,203 (USD594) million; income before income taxes increased 93.3%, to
JPY69,053 (USD705) million; and net income attributable to shareholders of
Kyocera Corporation increased 69.2%, to JPY42,930 (USD438) million.

“In the first half, consolidated sales increased significantly in our solar
energy, telecommunications equipment, and information equipment businesses.
Combined with the effects of the yen’s depreciation against the dollar and
euro, we achieved a 15 percent revenue increase year-on-year and recorded our
highest half-year sales to date,” said Kyocera Corporation President Goro
Yamaguchi. “We also expect to see continued strong sales of solar products in
the second half, and have thus upwardly revised our previously announced solar
sales target of 1 gigawatt to 1.2 gigawatts for the fiscal year.”

              
Consolidated Financial Highlights: Second Quarter
Unit: Millions (except percentages)
                 Three Months Ended September 30,
Against          2012       2013       Increase       2013       2013
FY13-Q2          (FY13-Q2)   (FY14-Q2)   (Decrease)      (FY14-Q2)   (FY14-Q2)
                 in JPY      in JPY      Amount  %      in USD      in EUR
                                         in JPY
Net sales:       310,705     368,008     57,303   18.4   3,755       2,788
Profit from      27,893      32,805      4,912    17.6   335         249
operations:
Income before    31,005      34,240      3,235    10.4   349         259
income taxes:
Net income
attributable
to              18,801     20,279     1,478   7.9   207        154
shareholders
of Kyocera
Corporation:
Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR)
conversions are provided at the rates of USD1 = JPY98 and EUR1 = JPY132,
rounded to the nearest unit.


Consolidated Financial Forecasts: Year Ending March 31, 2014

In the second half of this fiscal year (the six months ending March 31, 2014),
Kyocera expects rising demand in its solar energy business to drive results in
the Applied Ceramic Products Group beyond those projected in our earlier
forecasts. In addition, the newly consolidated Kyocera Circuit Solutions,
Inc.^*3 will begin contributing to Kyocera’s results from October 2013 onward.
Kyocera has therefore made an upward revision to its previously announced
consolidated sales forecasts. Additionally, the company has revised its
forecasts of average exchange rates for the second half from the projections
announced in August 2013.

                                                                
Consolidated Forecasts: Year Ending March 31, 2014

Unit: Yen in        (except percentages, per-share amounts and exchange rates)
millions
                                     Fiscal 2014 Forecasts         Increase
                                    Announced on                  (Decrease)
                                                                   (%) to
                    Fiscal 2013      April 25,      October 31,   Fiscal 2013
                    Results          2013            2013          Results
Net sales:          1,280,054        1,400,000      1,430,000     11.7
Profit from         76,926           140,000         140,000       82.0
operations:
Income before       101,363          150,000         150,000       48.0
income taxes:
Net income
attributable to
shareholders of     66,473           96,000          96,000        44.4
Kyocera
Corporation:
Diluted earnings
per share
attributable to     181.18           261.67          261.67        -
shareholders of
Kyocera
Corporation*^4:
Average USD         83               96              98            -
exchange rate*^5:
Average EUR         107             124           130          -
exchange rate*^5:
                                                                   

^*1 At the meeting of the Board of Directors of Kyocera Corporation held on
August 28, 2013, a resolution was made to undertake a stock split and a stock
split at the ratio of two for one of all common shares was undertaken
effective on October 1, 2013. "Diluted earnings per share attributable to
shareholders of Kyocera Corporation" is computed under the assumption that the
stock split, which took effect on October 1, 2013, was undertaken at the
beginning of the year ended March 31, 2013.
^*2 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.
^*3 Kyocera acquired 100% of the shares of NEC Toppan Circuit Solutions, Inc.
(now Kyocera Circuit Solutions, Inc.), a printed circuit board (PCB)
manufacturing company, and made it a consolidated subsidiary as of October 1,
2013.
^*4 "Diluted earnings per share attributable to shareholders of Kyocera
Corporation" announced on October 31, 2013 (Revised) is computed based on the
average number of shares outstanding during the six months ended September 30,
2013. "Diluted earnings per share attributable to shareholders of Kyocera
Corporation" is computed under the assumption that the stock split, which took
effect on October 1, 2013, was undertaken at the beginning of the year ended
March 31, 2013.
^*5 "Diluted earnings per share attributable to shareholders of Kyocera
Corporation" and "Average exchange rates against the U.S. dollar and the Euro"
as set forth in the previous forecast, have been revised on August 1, 2013.

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
and in 2013 was ranked by Ceramic Industry magazine as the world’s No.1
manufacturer of advanced ceramics.

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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