Home Asia - Pacific KYOCERA Announces Consolidated Financial Results for Nine Months Ended Dec. 31, 2015
KYOCERA Announces Consolidated Financial Results for Nine Months Ended Dec. 31, 2015

KYOCERA Announces Consolidated Financial Results for Nine Months Ended Dec. 31, 2015

4
0

Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced its third-quarter financial results for the fiscal year ending March 31, 2016. The results are summarized below, both as an aggregation of Kyocera’s first three fiscal quarters (the “period,” i.e., nine months ended Dec. 31, 2015), and as the third quarter alone (the “quarter,” i.e., three months ended Dec. 31, 2015).

Consolidated Financial Highlights: Nine Months Ended December 31, 2015

Unit: Millions (except percentages and per-share amounts)

Nine Months Ended December 31,

2014
(FY15)
in JPY

2015
(FY16)
in JPY

Increase
(Decrease)

2015
(FY16)
in USD

2015
(FY16)
in EUR

Amount
in JPY

%
Net sales:1,101,6921,093,030(8,662)(0.8)9,0338,281
Profit from operations:90,22266,020(24,202)(26.8)546500
Income before income taxes:114,66797,390(17,277)(15.1)805738

Net income attributable to
shareholders of Kyocera
Corporation:

73,97159,504(14,467)(19.6)492451

Diluted earnings per share
attributable to shareholders of
Kyocera Corporation:

201.63162.201.341.23

Summary of Nine-Month Consolidated Financial Results

During this period, the economic environment surrounding Kyocera Corporation and its consolidated subsidiaries (the “Kyocera Group” or “Kyocera”) was characterized by growth in the automotive market, mainly in the United States and China, and an expanding market for smartphones globally.

As compared to the year-ago period, Kyocera’s sales of components used in smartphones, industrial equipment and automotive applications increased steadily. In contrast, sales decreased in the Telecommunications Equipment Group and the Applied Ceramic Products Group, which includes the solar energy business. Consolidated profit declined due primarily to the recording of costs of approximately JPY23 billion, including an impairment of goodwill in the Electronic Device Group, and reduced profit in the Information Equipment Group due mainly to the impact of currency exchange fluctuations.

In summary, consolidated net sales for the nine-month period decreased 0.8% as compared to the year-ago nine-month period, to JPY1,093,030 (USD9,033) million; profit from operations decreased 26.8%, to JPY66,020 (USD546) million; income before income taxes decreased 15.1%, to JPY97,390 (USD805) million; and net income attributable to shareholders of Kyocera Corporation decreased 19.6%, to JPY59,504 (USD492) million.

Consolidated Financial Highlights: Third Quarter Ended December 31, 2015

Unit: Millions (except percentages)

Three Months Ended December 31,

2014
(FY15-Q3)
in JPY

2015
(FY16-Q3)
in JPY

Increase
(Decrease)

2015
(FY16-Q3)
in USD

2015
(FY16-Q3)
in EUR

Amount
in JPY

%
Net sales:387,363370,453(16,910)(4.4)3,0622,806
Profit from operations:35,4714,071(31,400)(88.5)3431
Income before income taxes:46,54919,390(27,159)(58.3)160147

Net income attributable to
shareholders of Kyocera
Corporation:

30,3228,712(21,610)(71.3)7266

Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are provided at the rates of USD1 = JPY121 and EUR1 = JPY132, rounded to the nearest unit.

Consolidated Forecast: Year Ending March 31, 2016

During the three months ending March 31, 2016 (“the fourth quarter”), sales of components for semiconductor processing equipment and automobiles are expected to increase steadily. However, the business environment in the fourth quarter is expected to differ from that reflected in our forecast of October 2015 due to the slowing of the Chinese economy and the effect of production adjustments among smartphone manufacturers.

In consideration of these circumstances, Kyocera has revised its full-year forecast for the year ending March 31, 2016 as set forth below. Kyocera aims to achieve these forecasts by securing orders in the information and communication, industrial machinery, automotive-related and environment/energy markets; and by leveraging the collective capabilities of the Kyocera Group for comprehensive cost reduction.

Consolidated Forecast: Year Ending March 31, 2016

Unit: Yen in millions

(except percentages, per-share amounts and exchange rates)

Fiscal 2016 Forecasts
Announced on

Increase
(Decrease)
(%) to
Fiscal 2015
Results

Fiscal 2015
Results

October 29,
2015

January 29,
2016

Net sales:1,526,5361,530,0001,480,000(3.0)
Profit from operations:93,428110,00085,000(9.0)
Income before income taxes:121,862140,000135,00010.8

Net income attributable to
shareholders of Kyocera
Corporation:

115,87585,00090,000(22.3)

Diluted earnings per share
attributable to shareholders of
Kyocera Corporation*:

315.85231.70245.33
Average USD exchange rate:110120121
Average EUR exchange rate:139133133

* Forecast of “Diluted earnings per share attributable to shareholders of Kyocera Corporation” is based on the diluted average number of shares outstanding during the nine months ended December 31, 2015.

(4)

Anand Gupta Editor - EQ Int'l Media Network

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *