[January 31, 2017] |
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KYOCERA Announces Consolidated Financial Results for Nine Months Ended Dec. 31, 2016
Kyocera
Corporation (NYSE:KYO)(TOKYO:6971) today announced its third-quarter
financial results for the fiscal year ending March 31, 2017. The results
are summarized below, both as an aggregation of Kyocera's (News - Alert) first three
fiscal quarters (the "period," i.e., nine months ended Dec. 31, 2016),
and as the third quarter alone (the "quarter," i.e., three months ended
Dec. 31, 2016). Complete details are available at: http://global.kyocera.com/ir/financial/f_results.html
Consolidated Financial Highlights: Nine Months Ended December
31, 2016
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Unit: Millions (except percentages and per-share amounts)
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Nine Months Ended December 31,
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2015 (FY16) in JPY
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2016 (FY17) in JPY
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Increase (Decrease)
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2016 (FY17) in USD
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2016 (FY17) in EUR
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Amount in JPY
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%
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Net sales:
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1,093,030
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1,014,628
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(78,402)
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(7.2)
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8,672
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8,249
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Profit from operations:
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66,020
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67,102
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1,082
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1.6
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574
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546
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Income before income taxes:
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97,390
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98,706
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1,316
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1.4
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844
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802
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Net income attributable to shareholders of Kyocera Corporation:
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59,504
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70,852
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11,348
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19.1
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606
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576
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Diluted earnings per share attributable to shareholders of Kyocera
Corporation:
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162.20
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192.88
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-
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-
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1.65
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1.57
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Note on exchange rates: U.S. dollar (USD) and euro (EUR) conversions are
provided above and in the Q3 chart below as a convenience to the reader,
based on the rates of USD1 = JPY117 and EUR1 = JPY123, rounded to the
nearest unit (as of December 30, 2016).
Summary The principal markets served by Kyocera Corporation
and its subsidiaries (the "Kyocera Group" or "Kyocera") experienced
mixed results during this period:
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The automotive market enjoyed stable growth, due primarily to rising
vehicle sales in China and Europe.
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The information and communications market experienced rising demand
for miniaturized, highly functional components; however, stagnating
growth rates in smartphone shipments continued.
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The global solar energy market saw continued erosion in the price of
photovoltaic (PV) modules, and Japan-market demand decreased due to
feed-in tariff changes that reduced the price of power purchased from
PV system owners.
Consolidated net sales for this period decreased 7.2% over the prior
nine-month period, to JPY1,014,628 (USD8,672) million, due mainly to the
impact of the yen's appreciation; profit from operations increased 1.6%,
to JPY67,102 (USD574) million; income before income taxes increased
1.4%, to JPY98,706 (USD844) million; and net income attributable to
shareholders of Kyocera Corporation increased 19.1%, to JPY70,852
(USD606) million.
Consolidated Financial Highlights: Third Quarter
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Unit: Millions (except percentages)
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Three Months Ended December 31,
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2015 (FY16-Q3) in JPY
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2016 (FY17-Q3) in JPY
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Increase (Decrease)
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2016 (FY17-Q3) in USD
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2016 (FY17-Q3) in EUR
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Amount in JPY
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%
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Net sales:
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370,453
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361,385
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(9,068)
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(2.4)
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3,089
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2,938
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Profit from operations:
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4,071
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33,317
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29,246
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718.4
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285
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271
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Income before income taxes:
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19,390
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50,128
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30,738
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158.5
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428
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408
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Net income attributable to shareholders of Kyocera Corporation:
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8,712
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34,699
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25,987
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298.3
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297
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282
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(See note above regarding exchange rates.)
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Expectations for the Full Fiscal Year Current conditions in
the solar energy and electronic device markets, combined with a delay in
the launch of new information equipment products, have led Kyocera
Corporation to revise its consolidated financial forecasts for the year
ending March 31, 2017 ("fiscal 2017"). The company's earlier forecasts
of net sales and profit from operations have been lowered; the forecast
of income before income taxes remains unchanged; and the forecast for
net income attributable to shareholders of Kyocera Corporation has been
revised upward, as shown in the table below. Kyocera will strive
aggressively to capitalize on new business opportunities while reducing
expenses in order to achieve the best possible results.
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Consolidated Forecast: Year Ending March 31, 2017
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Unit: Yen in millions (except percentages, per-share amounts and
exchange rates)
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Fiscal 2016 Results
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Fiscal 2017 Forecasts Announced on
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Increase (Decrease) (%) to Fiscal 2016 Results
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October 31, 2016
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January 31, 2017
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Net sales:
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1,479,627
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1,520,000
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1,410,000
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(4.7
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)
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Profit from operations:
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92,656
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110,000
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95,000
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2.5
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Income before income taxes:
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145,583
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130,000
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130,000
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(10.7
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)
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Net income attributable to shareholders of Kyocera
Corporation:
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109,047
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85,000
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90,000
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(17.5
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)
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Diluted earnings per share attributable to shareholders of
Kyocera Corporation*:
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297.24
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231.52
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245.01
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-
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Average USD exchange rate:
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120
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104
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108
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-
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Average EUR exchange rate:
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133
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115
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119
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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 nine months ended December 31,
2016.
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), 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 printers,
copiers, mobile phones, solar power generating systems, electronic
components, semiconductor packages, cutting tools and industrial
ceramics. Kyocera appears on the "Top 100 Global Innovators" list by
Clarivate Analytics and is ranked #531 on Forbes magazine's 2016 "Global
2000" list of the world's largest publicly traded companies.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170130006276/en/
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