KYOCERA Announces Consolidated Financial Results for Three Months Ended June 30, 2014

  KYOCERA Announces Consolidated Financial Results for Three Months Ended June
  30, 2014

Business Wire

KYOTO, Japan -- July 31, 2014

Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its consolidated
financial results for the first quarter of fiscal year 2015 (the three months
ended June 30, 2014, 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,
                  2013       2014       Increase                    
                                         (Decrease)         2014        2014
                  (FY14-Q1)   (FY15-Q1)   Amount             (FY15-Q1)   (FY15-Q1)
                                                   %        in USD      in EUR
                  in JPY      in JPY      in JPY
Net sales:        331,655     334,714     3,059     0.9      3,314       2,425
Profit from       25,398      18,782      (6,616)   (26.0)   186         136
operations:
Income before     34,813      30,680      (4,133)   (11.9)   304         222
income taxes:
Net income
attributable to
shareholders of   22,651      19,467      (3,184)   (14.1)   193         141
Kyocera
Corporation:
Diluted
earnings per
share
attributable to  61.74      53.06      -        -       0.53       0.38
shareholders of
Kyocera
Corporation^*1:
Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions
are provided based on the rates of USD1 = JPY101 and EUR1 = JPY138, 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, 2013 (the “prior period”), Q1 brought essentially no growth in
the mobile phone market globally as rising demand for smartphones was offset
by contracting demand for conventional handsets. Growth in Japan’s solar
energy market slowed due mainly to the completion of government subsidies for
residential solar power generating systems, and to the impact of higher
consumption tax. Conversely, global sales of automobiles increased steadily,
particularly in China and the United States.

Kyocera succeeded in recording its highest first-quarter consolidated revenue
to date, led by rising sales in the Information Equipment and Fine Ceramic
Parts segments. Additionally, sales rose in the Semiconductor Parts segment
due to revenue from a new subsidiary acquired in the prior fiscal year. In
contrast, Q1 sales decreased in the Applied Ceramic Products segment as well
as the Electronic Device segment which undertook structural reforms in the
prior fiscal year. Consolidated Q1 profit declined due to lower profitability
in the Applied Ceramic Products, Semiconductor Parts, and Telecommunications
Equipment segments, which offset increased profit in the Information Equipment
and Electronic Device segments.

In summary, consolidated net sales increased 0.9% over the prior period, to
JPY334,714 (USD3,314) million; profit from operations decreased 26.0%, to
JPY18,782 (USD186) million; income before income taxes decreased 11.9%, to
JPY30,680 (USD304) million; and net income attributable to shareholders of
Kyocera Corporation decreased 14.1%, to JPY19,467 (USD193) million.

Consolidated Forecasts for the Year Ending March 31, 2015

From the second quarter onward, Kyocera expects component demand to increase
among producers of digital consumer equipment, led by new smartphone
introductions, as well as the proliferation of smartphones in emerging
markets. Kyocera will seize such demand and aim to expand sales of
miniaturized, high-performance components; increase market share; and improve
profitability by pursuing thorough cost reductions. In the automotive market,
Kyocera will strive to enhance customer development and expand sales by
applying the collective strengths of the Kyocera Group.

In the Telecommunications Equipment segment, Kyocera will work to increase
sales of mobile phones by launching new products both in Japan and overseas
and by cultivating major customers outside of Japan. In the Information
Equipment segment, Kyocera will also make efforts to expand sales of printers
and multifunctional products both in mature and emerging markets, while
striving to enhance profitability by increasing production in Vietnam. Based
on the above, the Company makes no change to the sales and profit forecasts
for fiscal year 2015 that were announced on April 28, 2014.


Consolidated Forecast: Year Ending March 31, 2015
Unit: Yen in millions (except percentages, per-share amounts and exchange
rates)
                                                                         
                                                                 Increase
                           Fiscal 2014        Fiscal 2015      (Decrease)
                           Results             Forecast          (%) to Fiscal
                                                                 2014 Results
Net sales:                 1,447,369           1,580,000         9.2
Profit from operations:    120,582             135,000           12.0
Income before income       146,268             158,000           8.0
taxes:
Net income attributable to
shareholders of Kyocera    88,756              97,000            9.3
Corporation:
Diluted earnings per share
attributable               241.93              264.40            -
to shareholders of Kyocera
Corporation^*1,*2:
Average USD exchange rate: 100                 100               -
Average EUR exchange rate: 134                137              -        
                                                                          
^*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, 2013.
^*2 Forecast of “Diluted earnings per share attributable to shareholders of
Kyocera Corporation” is based on the average number of shares outstanding
during the three months ended June 30, 2014.
                                                                          

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. The company is
ranked #531 on Forbes magazine’s 2014 “Global 2000” listing of the world’s
largest publicly traded companies, and was named as the world’s No.1
manufacturer of advanced ceramics in the latest ranking by Ceramic Industry
magazine.

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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