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

KYOTO, Japan--()--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). Complete details are available at: http://global.kyocera.com/ir/financial/f_results.html

 

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: 1,101,692 1,093,030 (8,662) (0.8) 9,033 8,281
Profit from operations: 90,222 66,020 (24,202) (26.8) 546 500
Income before income taxes: 114,667 97,390 (17,277) (15.1) 805 738

Net income attributable to
shareholders of Kyocera
Corporation:

73,971 59,504 (14,467) (19.6) 492 451

Diluted earnings per share
attributable to shareholders of
Kyocera Corporation:

  201.63   162.20   -   -   1.34   1.23

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.

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: 387,363 370,453 (16,910) (4.4) 3,062 2,806
Profit from operations: 35,471 4,071 (31,400) (88.5) 34 31
Income before income taxes: 46,549 19,390 (27,159) (58.3) 160 147

Net income attributable to
shareholders of Kyocera
Corporation:

  30,322   8,712   (21,610)   (71.3)   72   66

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: 1,526,536 1,530,000   1,480,000   (3.0 )
Profit from operations: 93,428 110,000 85,000 (9.0 )
Income before income taxes: 121,862 140,000 135,000 10.8

Net income attributable to
shareholders of Kyocera
Corporation:

115,875 85,000 90,000 (22.3 )

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

315.85 231.70 245.33 -
Average USD exchange rate: 110 120 121 -
Average EUR exchange rate: 139 133   133   -  

* 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.

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 solar power generating systems, mobile phones, printers, copiers, electronic components, semiconductor packages, cutting tools and industrial ceramics. Kyocera appears on the latest listing of the “Top 100 Global Innovators” by Thomson Reuters, and is ranked #552 on Forbes magazine’s 2015 “Global 2000” listing of the world’s largest publicly traded companies.

Contacts

KYOCERA Corporation (Japan)
Hina Morioka, +81-(0)75-604-3416
Corporate Communications
Fax: +81-(0)75-604-3516
webmaster.pressgl@kyocera.jp
http://global.kyocera.com/

Release Summary

Kyocera Corporation today announced its third-quarter financial results for the fiscal year ending March 31, 2016.

Contacts

KYOCERA Corporation (Japan)
Hina Morioka, +81-(0)75-604-3416
Corporate Communications
Fax: +81-(0)75-604-3516
webmaster.pressgl@kyocera.jp
http://global.kyocera.com/