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Kyocera Cuts Net Forecast on Weaker Smartphone-Component Outlook

Jan. 29 (Bloomberg) -- Kyocera Corp., a Japanese solar panel and electronics maker, reduced its profit forecast on lower demand for components for smartphones and digital cameras.

Net income will probably rise 27 percent to 84.5 billion yen ($819 million) in the year ending March 31, the Kyoto-based company said in a statement today. That compares with a previous forecast of 96 billion yen.

Telecommunication-equipment sales are forecast to fall below expectations for the three months ending March 31 because of a change in the company’s sales plan for new products, according to the statement. It also cited a one-time cost on product portfolio changes.

Kyocera expects its solar business to keep growing on strong domestic demand.

In the three months ended Dec. 31, net income rose 35 percent to 26.4 billion yen from a year earlier, according to today’s statement. Sales rose 17 percent to 371.7 billion yen.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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