By Andy Slawetsky – On November 1, 2023, Kyocera Corporation, a leader in advanced ceramics and business technology, announced its consolidated financial performance for the first half of fiscal year 2024 that wrapped up on September 30, 2023.
- Kyocera registered a dip of 2.7% in its consolidated sales revenue, settling at JPY985,290 million (USD6,569). This decline stems from waning demand in pivotal areas, particularly the Semiconductor and Information & Communications sectors. According to Kyocera, these figures emerge in a global context colored by geopolitical tensions and a rising tide of inflation.
- The firm’s operating profit saw a pronounced fall of 29.4%, standing at JPY54,002 million (USD360). The profits before taxation shrunk by 25.4%, amounting to JPY77,867 million (USD519), and the net profit accredited to Kyocera’s main entity decreased by 25.3%, ending at JPY56,487 million (USD377).
- A closer look at the second quarter of 2023 reveals a 2.8% decrease in sales revenue, recorded at JPY505,870 million (USD3,372). Mirroring this trend, the operating profit, pre-tax profit, and net profit linked to the principal entity also went down by 19.2%, 23.1%, and 25.4% in that order.
- Though these statistics are in line with Kyocera’s preceding projections, the prognosis for the upcoming half of the fiscal year is approached with caution. Persistent vulnerabilities in the Semiconductor and Information & Communications domains have led Kyocera to reconsider its annual financial outlook.
- In an interesting development, the company has indicated its plans for a 4-for-1 stock split, expected to take effect on January 1, 2024.
For those keen on delving deeper into this declaration and related news, a visit to Kyocera’s official website is recommended.
Click here to see the Kyocera earnings release this article is based on.
SOURCE Industry Analysts Inc.