[April 27, 2015] |
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KYOCERA Announces Consolidated Financial Results for Year Ended March 31, 2015
Kyocera
Corporation (NYSE:KYO)(TOKYO:6971) today announced its consolidated
financial results for the fiscal year ended March 31, 2015, as
summarized below. Complete details are available at: http://global.kyocera.com/ir/financial/f_results.html
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Consolidated Results: Year-Over-Year
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Unit: Millions (except percentages and per-share amounts)
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Years Ended March 31,
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2014 (FY14) in JPY
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2015 (FY15) in JPY
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Increase (Decrease)
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2015 (FY15) in USD
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2015 (FY15) in EUR
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Amount in JPY
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%
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Net sales:
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1,447,369
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1,526,536
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79,167
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5.5
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12,721
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11,743
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Profit from operations:
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120,582
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93,428
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(27,154)
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(22.5)
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779
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719
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Income before income taxes:
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146,268
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121,862
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(24,406)
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(16.7)
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1,016
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937
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Net income attributable to shareholders of Kyocera (News - Alert) Corporation:
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88,756
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115,875
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27,119
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30.6
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966
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891
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Diluted earnings per share attributable to shareholders of Kyocera
Corporation:
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241.93
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315.85
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-
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-
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2.63
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2.43
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Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR)
conversions are provided based on the rates of USD1 = JPY120 and EUR1 =
JPY130, rounded to the nearest unit.
Consolidated Results Summary
With regard to the principal markets served by Kyocera Corporation and
its consolidated subsidiaries (the "Kyocera Group" or "Kyocera"), the
year ended March 31, 2015 ("the period") brought rising demand for
smartphones, as well as increased sales of automobiles especially in the
United States and China. Japan's solar energy market slowed due to the
end of subsidies for new residential solar power systems and the
suspension of utility-grid access applications.
Kyocera recorded its highest annual consolidated revenue for the second
consecutive year, led by increased sales in its Components Business,
which mainly serves producers of automobiles, smartphones,
telecommunications infrastructure, and industrial machinery. The
company's Equipment Business also recorded sales growth, particularly
outside of Japan, due to the launch of new products and outreach to new
customers. Profit increased in the Fine Ceramic Parts Group,
Semiconductor Parts Group, Electronic Device Group and Information
Equipment Group due to higher sales and successful cost containment.
Nonetheless, Kyocera's consolidated results in profit from operations
and income before income taxes decreased, due mainly to the recording of
losses related to asset impairments in the Applied Ceramic Products
Group and Telecommunications Equipment Group.
In summary, consolidated net sales increased 5.5% over the prior period,
to JPY1,526,536 (USD12,721) million; profit from operations decreased
22.5%, to JPY93,428 (USD779) million; and income before income taxes
decreased 16.7%, to JPY121,862 (USD1,016) million. Net income
attributable to shareholders of Kyocera Corporation increased 30.6%, to
JPY115,875 (USD966) million, due primarily to the revaluation of
deferred tax assets and liabilities in line with a revision of the
Japanese tax system, resulting in an increase of approximately JPY36,300
(USD303) million.
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Consolidated Q4 Results, Year-Over-Year
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Unit: Millions (except percentages)
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Three Months Ended March 31,
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2014 (FY14-Q4) in JPY
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2015 (FY15-Q4) in JPY
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Increase (Decrease)
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2015 (FY15-Q4) in USD
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2015 (FY15-Q4) in EUR
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Amount in JPY
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%
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Net sales:
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375,981
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424,844
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48,863
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13.0
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3,540
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3,268
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Profit from operations:
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30,886
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3,206
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(27,680)
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(89.6)
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27
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25
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Income before income taxes:
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35,924
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7,195
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(28,729)
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(80.0)
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60
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55
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Net income attributable to shareholders of Kyocera Corporation:
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19,392
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41,904
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22,512
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116.1
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349
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322
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Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR)
conversions are provided based on the rates of USD1 = JP120 and EUR1 =
JPY130, rounded to the nearest unit.
Consolidated Forecast: Year Ending March 31, 2016
During the year ending March 31, 2016 ("Fiscal 2016"), the Japanese
economy is expected to head toward recovery as personal consumption and
private capital investment rebound. The European economy is expected to
continue expanding moderately, while the U.S. economic forecast calls
for steady growth.
With regard to Kyocera's core markets, component demand is expected to
increase in the information and communications field, based on continued
growth in sales of smartphones and infrastructure equipment such as
telecommunications base stations. In automotive markets, Kyocera
forecasts higher demand for electronic components and devices due to
expanding automobile production and the rising electronic content of
in-vehicle safety and emissions systems. In the environment and energy
market, demand for Home Energy Management Systems (HEMS) and
power-storage units is expected to grow despite an anticipated
contraction in Japan's solar energy market.
Kyocera will strive to capitalize on expanding markets and strengthen
production capacity in both the Components Business and Equipment
Business with the aim of achieving record sales for the third
consecutive year. At the same time, efforts will be made to boost
profitability through comprehensive cost containment in order to achieve
full-year consolidated financial forecasts.
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Consolidated Forecast: Year Ending March 31, 2016
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Unit: Yen in millions (except percentages, per-share amounts and
exchange rates)
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Fiscal 2015 Results
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Fiscal 2016 Forecast
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Increase (Decrease) (%) to Fiscal 2015 Results
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Net sales:
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1,526,536
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1,600,000
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4.8
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Profit from operations:
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93,428
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160,000
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71.3
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Income before income taxes:
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121,862
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184,000
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51.0
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Net income attributable to shareholders of Kyocera
Corporation:
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115,875
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120,000
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3.6
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Diluted earnings per share attributable to shareholders of Kyocera
Corporation*:
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315.85
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327.10
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-
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Average USD exchange rate:
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110
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115
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-
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Average EUR exchange rate:
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139
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125
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-
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* Forecast of "Diluted earnings per share attributable to
shareholders of Kyocera Corporation" is based on the diluted average
number of shares outstanding during the year ended March 31, 2015.
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
electronic components, printers, copiers, solar power generating
systems, mobile phones, semiconductor packages, cutting tools and
industrial ceramics. Kyocera appears on the latest listing of the "Top
100 Global Innovators" by Thomson Reuters (News - Alert), and is ranked #531 on Forbes
magazine's current "Global 2000" listing of the world's largest publicly
traded companies.
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