KYOCERA Announces Consolidated Financial Results for Nine Months Ended December 31, 2013

  KYOCERA Announces Consolidated Financial Results for Nine Months Ended
  December 31, 2013

Business Wire

KYOTO, Japan -- January 29, 2014

Kyocera Corporation (“Kyocera”)(NYSE:KYO)(TOKYO:6971) today announced its
third-quarter consolidated financial results for the fiscal year ending March
31, 2014. The results, summarized below, represent the nine months ended
December 31, 2013 (“the period”). Complete details are available at:
http://global.kyocera.com/ir/financial/f_results.html


Consolidated Financial Highlights: Nine Months Ended December 31
Unit: Millions (except percentages and per-share amounts)
                   Nine Months Ended December 31,
                                            Increase               
                   2012        2013          (Decrease)       2013     2013
                    (FY13)      (FY14)        Amount           (FY14)   (FY14)
                    in JPY      in JPY                 %      in USD   in EUR
                                              in JPY
Net sales:          926,524     1,071,388     144,864   15.6   10,204   7,389
Profit from         51,234      89,696        38,462    75.1   854      619
operations:
Income before       68,882      110,344       41,462    60.2   1,051    761
income taxes:
Net income
attributable to
shareholders of     44,970      69,364        24,394    54.2   661      478
Kyocera
Corporation:
Diluted earnings
per share
attributable to    122.57     189.07       -        -     1.80    1.30
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 = JPY105 and EUR1 = JPY145,
rounded to the nearest unit.


Summary

The digital consumer equipment market represents a principal source of revenue
for Kyocera Corporation and its consolidated subsidiaries (“Kyocera”). This
market experienced mixed conditions during the period, as compared to the nine
months ended December 31, 2012 (the “year-ago nine-month period”). Shipments
of conventional mobile phones, PCs, flat-screen TVs and digital cameras
decreased, while shipments of smartphones and tablet PCs rose. As a result,
overall component demand within the digital consumer equipment market showed
moderate growth. Additionally, Japan’s solar energy market grew substantially
as compared to the year-ago nine-month period, due primarily to stronger
demand in the public and commercial sectors.

Sales increased in all reporting segments as compared with the year-ago
nine-month period. In particular, double-digit revenue increases were recorded
in the Applied Ceramic Products Group (driven by strong sales in the solar
energy business) and in both the Telecommunications Equipment and Information
Equipment groups. The depreciation of the yen contributed to rising sales,
resulting in the highest corresponding nine-month revenue results in the
company’s history. Profit also increased in all reporting segments of the
components and equipment businesses as compared with the year-ago nine-month
period due to higher sales and reduced costs. In particular, consolidated
profit increased in the Applied Ceramic Products Group; elsewhere, profit
rebounded through the absence of an environmental remediation charge of
JPY21,300 (USD266) ^ million^*2 that was recorded in the year-ago nine-month
period at AVX Corporation, a U.S.-based consolidated subsidiary.

In summary, consolidated net sales increased 15.6%, to JPY1,071,388
(USD10,204) million, as compared with the year-ago nine-month period; profit
from operations increased 75.1%, to JPY89,696 (USD854) million; income before
income taxes increased 60.2%, to JPY110,344 (USD1,051) million; and net income
attributable to shareholders of Kyocera Corporation increased 54.2%, to
JPY69,364 (USD661) million.


Consolidated Financial Highlights: Third Quarter Comparison
Unit: Millions (except percentages)
                Three Months Ended December 31,
                                       Increase                 
                2012        2013        (Decrease)      2013        2013
                 (FY13-Q3)   (FY14-Q3)   Amount          (FY14-Q3)   (FY14-Q3)
                 in JPY      in JPY              %      in USD      in EUR
                                         in JPY
Net sales:       318,093     371,725     53,632   16.9   3,540       2,564
Profit from      25,343      31,493      6,150    24.3   300         217
operations:
Income before    33,150      41,291      8,141    24.6   393         285
income taxes:
Net income
attributable
to              19,599     26,434     6,835   34.9  252        182
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 = JPY105 and EUR1 = JPY145,
rounded to the nearest unit.


Consolidated Financial Forecasts: Year Ending March 31, 2014

For the three months ending March 31, 2014 (the "fourth quarter"), the solar
energy business is expected to show further growth as Japan-market demand
continues to expand; revenue from the Information Equipment Group is likewise
expected to increase beyond previous forecasts. However, demand for components
used in smartphones and digital cameras is predicted to fall below previous
expectations; and a one-off cost resulting from a revision of a certain
product portfolio is expected in the Electronic Device Group. In addition,
sales from the Telecommunications Equipment Group are predicted to fall below
previous expectations due to fourth-quarter product launch delays.

Taking these factors into account, Kyocera has revised its full-year financial
forecasts for fiscal 2014 announced in October 2013, as follows. Kyocera has
also revised full-year forecasts of average exchange rates for fiscal 2014, as
follows.


Consolidated Forecasts: Year Ending March 31, 2014
Unit: Yen in        (except percentages, per-share amounts and exchange
millions             rates)
                                      Fiscal 2014 Forecasts        Increase
                                    Announced on                (Decrease)
                                                                   (%) to
                     Fiscal 2013     October 31,  January 29,    Fiscal 2013
                     Results          2013          2014           Results
Net sales:           1,280,054       1,430,000    1,430,000     11.7
Profit from          76,926           140,000       115,000        49.5
operations:
Income before        101,363          150,000       138,000        36.1
income taxes:
Net income
attributable to
shareholders of      66,473           96,000        84,500         27.1
Kyocera
Corporation:
Diluted earnings
per share
attributable to      181.18           261.67        230.32         -
shareholders of
Kyocera
Corporation*3:
Average USD          83               98            101            -
exchange rate:
Average EUR          107              130           134            -
exchange rate:
                     

^*1 A “two-for-one” split of all Kyocera Corporation common shares was
implemented on October 1, 2013. To allow comparison, "Diluted earnings per
share attributable to shareholders of Kyocera Corporation" is computed as
though this stock split had taken effect on April 1, 2012.
^*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 "Diluted earnings per share attributable to shareholders of Kyocera
Corporation" announced on January 29, 2014 is computed based on the average
number of shares outstanding during the nine months ended December 31, 2013,
in reflection of an assumption that the stock split that took effect on
October 1, 2013, had taken effect April 1, 2012.

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