KYOCERA Announces Consolidated Financial Results for Third Quarter, Ended Dec. 31, 2021

Kyocera Corporation reported strong financial results for the nine months ended December 31, 2021.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

KYOTO, Japan--(BUSINESS WIRE)-- Kyocera Corporation (TOKYO: 6971) today announced its consolidated financial results for the third quarter of the fiscal year ending March 31, 2022. Results are summarized below, both as an aggregation of Kyocera’s first three fiscal quarters (the “period,” i.e., nine months), and as the third quarter alone (the “quarter,” i.e., three months) ended Dec. 31, 2021. Complete details are available at: https://global.kyocera.com/ir/library/f_results.html

Consolidated Financial Highlights: Nine Months Ended December 31, 2021

Unit: Millions (except percentages and per-share amounts)
	Nine Months Ended December 31,
	2020 (FY21) in JPY	2021 (FY22) in JPY	Change		2021 (FY22) in USD	2021 (FY22) in EUR
			Amount in JPY	%
Sales revenue:	1,100,534	1,355,665	255,131	23.2	11,788	10,349
Operating profit:	42,983	118,458	75,475	175.6	1,030	904
Profit before income taxes:	87,216	163,103	75,887	87.0	1,418	1,245
Profit attributable to owners of the parent:	63,931	119,833	55,902	87.4	1,042	915
Earnings per share attributable to owners of the parent (basic):	176.39	331.34	－	－	2.88	2.53
Note on exchange rates: U.S. dollar (USD) and euro (EUR) conversions are provided above as a convenience to the reader, based on the rates of USD1 = JPY115 and EUR1 = JPY131, rounded to the nearest unit (as of December 30, 2021)

Summary

Despite pandemic-related disruption to supply chains that affected semiconductors in particular, the economic environment generally recovered during this period as COVID-19 vaccination expanded. Along with the improved business environment, the company achieved sales and profit increases in all segments, fueled by quick response to rising demand for 5G and semiconductor-related components as well as expanded production capacity made possible by capital investments initiated during the fiscal year ended March 31, 2019.

As compared to the prior-year nine-month period, sales revenue increased by 23.2%, to JPY1,355,665 (USD11,788) million, marking a record. Profits increased as well, due to the effects of increased sales, productivity improvements, cost reductions in each segment, and the absence of an impairment loss totaling JPY11.5 billion (USD100 million) in the Smart Energy Business that was recorded in the prior-year period. Operating profit increased 175.6%, to JPY118,458 (USD1,030) million; profit before income taxes increased by 87%, to JPY163,103 (USD1,418) million; and profit attributable to owners of the parent increased by 87.4%, to JPY119,833 (USD1,042) million.

Average exchange rates for the period show the Japanese yen weakened by 4.7% against the U.S. dollar, to JPY111, and weakened by 7.4% against euro, to JPY131. As a result, sales revenue and profit before income taxes were pushed up by approximately JPY47 billion (USD409 million) and JPY15 billion (USD130 million), respectively, as compared to the prior-year nine-month period.

Consolidated Financial Highlights: Third Quarter

Unit: Millions (except percentages)
	Three Months Ended December 31,
	2020 (FY21-Q3) in JPY	2021 (FY22-Q3) in JPY	Change		2021 (FY22-Q3) in USD	2021 (FY22-Q3) in EUR
			Amount in JPY	%
Sales revenue:	404,497	479,328	74,831	18.5	4,168	3,659
Operating profit:	18,918	42,779	23,861	126.1	372	327
Profit before income taxes:	38,967	63,752	24,785	63.6	554	487
Profit attributable to owners of the parent:	29,571	46,614	17,043	57.6	405	356
(See note above regarding exchange rates)

Guidance for the Fiscal Year Ending March 31, 2022

Although demand for components is expected to remain steady, led by semiconductor-related markets, uncertainty surrounding the COVID-19 pandemic will also continue during the three months ending March 31, 2022. As a consequence, the Company’s consolidated full-year sales and profit forecasts remain unchanged from those announced with upward revisions in November 2021.

Consolidated Forecast: Year Ending March 31, 2022

Unit: Yen in millions (except percentages, per-share amounts and exchange rates)
		Fiscal 2021 Results		Fiscal 2022 Forecast		Change (%) from Fiscal 2021 Results
Sales revenue:		1,526,897		1,750,000		14.6
Operating profit:		70,644		146,000		106.7
Profit before income taxes:		117,559		190,000		61.6
Profit attributable to owners of the parent:		90,214		139,000		54.1
Earnings per share attributable to owners of the parent (basic):		248.91		384.34	*	-
Average USD exchange rate:		106		110		-
Average EUR exchange rate:		124		130		-
*Based on the average number of shares outstanding during the nine months ended December 31, 2021

Forward‐Looking Statements

Please refer to https://global.kyocera.com/ir/disclaimer.html

About KYOCERA

Kyocera Corporation (TOKYO:6971, https://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 industrial and automotive components, semiconductor packages, electronic devices, smart energy systems, printers, copiers, and mobile phones. During the year ended March 31, 2021, the company’s consolidated sales revenue totaled 1.5 trillion yen (approx. US$13.8 billion). Kyocera is ranked #603 on Forbes magazine’s 2021 “Global 2000” list of the world’s largest publicly traded companies, and has been listed among “The World’s 100 Most Sustainably Managed Companies” by The Wall Street Journal.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220130005057/en/

KYOCERA Corporation (Japan)
Corporate Communications
Kenichi Hara
Tel: +81-(0)75-604-3416
Fax:+81-(0)75-604-3516
E-Mail: webmaster.pressgl@kyocera.jp
Website: https://global.kyocera.com/

Source: KYOCERA Corporation