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

KYOTO, Japan, January 31, 2022–(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/

Contacts

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 Businesswire

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