Kyocera Corp., a Japanese electronics and solar-panel maker, said annual profit jumped 34 percent, buoyed by photovoltaic products and devices such as smartphones and tablets.
Net income rose to 88.8 billion yen ($869 million) for the year ended March 31, from 66.5 billion yen a year ago, the Kyoto-based company said in a statement today. The result beat the 84.5 billion yen forecast previously by Kyocera. Revenue rose 13 percent to 1.45 trillion yen.
Sales at Kyocera’s applied ceramic products group, which includes solar devices, rose 29 percent to 272.8 billion yen, according to the company. Profit for the group jumped 87 percent to 33.5 billion yen.
“The domestic solar market expanded as demand for solar products for public and industrial use grew significantly,” the company said in the filing.