KYOTO, Japan--(BUSINESS WIRE)--
(TOKYO:6971) today announced its consolidated financial results for the first half of fiscal year 2021, covering the six months ended September 30, 2020 (the “first half,” or “FY21-H1”), as summarized below. Complete details are available at:
Consolidated Results of Operations: First Half
| Unit: Millions (except percentages and per-share amounts) | ||||||
Six Months Ended September 30, |
||||||
2019
|
2020
|
Change |
2020
|
2020
|
||
Amount
|
% |
|||||
| Sales revenue: | 799,050 |
696,037 |
(103,013) |
(12.9) |
6,566 |
5,613 |
| Operating profit: | 60,320 |
24,065 |
(36,255) |
(60.1) |
227 |
194 |
| Profit before income taxes: | 85,213 |
48,249 |
(36,964) |
(43.4) |
455 |
389 |
| Profit attributable to owners of the parent: |
59,614 |
34,360 |
(25,254) |
(42.4) |
324 |
277 |
| Earnings per share attributable to owners of the parent (basic): |
164.64 |
94.8 |
- |
- |
0.89 |
0.76 |
| 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 = JPY106 and EUR1 = JPY124, rounded to the nearest unit (as of September 30, 2020) | ||||||
Summary
While the crisis caused by the COVID-19 pandemic began easing gradually in the first half, economic conditions remained challenging. Sales revenue in the Components Business decreased, particularly in the Electronic Devices Group. Global production in automotive-related markets showed an improvement trend, but did not return to levels from the prior-year period. In the Equipment & Systems Business, sales revenue declined due mainly to decreased demand for document printers, multi-function peripherals (MFPs), and consumables in the Document Solutions Group. In addition, the Communication Group recorded decreased revenue from sales of mobile phone handsets and services related to environment and energy engineering. As a result, first-half sales revenue decreased by 12.9%, over the prior first half, to JPY696,037 (USD6,566) million.
Profit declined along with sales revenue. As compared to the prior first half, operating profit decreased by 60.1%, to JPY24,065 (USD227) million; profit before income taxes decreased by 43.4%, to JPY48,249 (USD455) million; and profit attributable to owners of the parent decreased by 42.4%, to JPY34,360 (USD324) million.
First-half average exchange rates show the Japanese yen unchanged from a year ago against the Euro, at JPY121, but strengthened by 1.8% against the U.S. dollar, to JPY107. After translation into yen, sales revenue and profit before income taxes were consequently pushed down by approximately JPY6 billion (USD56.6 million) and JPY1 billion (USD9.4 million), respectively, in comparison with the year-ago first half.
Consolidated Results of Operations: Second Quarter
| Unit: Millions (except percentages) | ||||||
Three Months Ended September 30, |
||||||
2019
|
2020
|
Change |
2020
|
2020
|
||
Amount
|
% |
|||||
| Sales revenue: | 414,113 |
378,943 |
(35,170) |
(8.5) |
3,575 |
3,056 |
| Operating profit: | 37,691 |
16,491 |
(21,200) |
(56.2) |
156 |
133 |
| Profit before income taxes: | 39,727 |
17,838 |
(21,889) |
(55.1) |
168 |
144 |
| Profit attributable to owners of the parent: |
27,577 |
11,980 |
(15,597) |
(56.6) |
113 |
97 |
| (See note above regarding exchange rates.) | ||||||
Consolidated Forecasts: Year Ending March 31, 2021
The company is making no change to its original forecasts for the fiscal year ending March 31, 2021, as announced on April 27, 2020. First-half results are within original projections, based on our continued assumption that global economy will gradually recover beginning in this second quarter, despite the COVID-19 pandemic. During the quarter ending December 31, 2020, the company expects automotive and document equipment markets to recover further, although demand for some products remains a concern due to rising U.S.-China trade friction. The company will continue to reduce costs and increase productivity thoroughly in our aim to achieve the original forecasts.
| Unit: Yen in millions (except percentages, per-share amounts and exchange rates) | ||||||||
| Fiscal 2020 Results |
Fiscal 2021 Forecast Announced on April 27 |
Fiscal 2021 Forecast Announced on October 29 |
Change (%) from Fiscal 2020 Results |
|||||
| Sales revenue: | 1,599,053 |
1,500,000 |
1,500,000 |
(6.2) |
||||
| Operating profit: | 100,193 |
75,000 |
75,000 |
(25.1) |
||||
| Profit before income taxes: | 148,826 |
120,000 |
120,000 |
(19.4) |
||||
| Profit attributable to owners of the parent: |
107,721 |
88,000 |
88,000 |
(18.3) |
||||
| Earnings per share attributable to owners of the parent (basic): |
297.36 |
242.92 |
242.80 |
* | - |
|||
| Average USD exchange rate: | 109 |
105 |
105 |
- |
||||
| Average EUR exchange rate: | 121 |
115 |
115 |
- |
||||
| * Based on the average number of shares outstanding during the six months ended September 30, 2020. | ||||||||
Forward‐Looking Statements
Please refer to
(TOKYO:6971, ), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of (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, 2020, the company’s consolidated sales revenue totaled 1.6 trillion yen (approx. US$14.7 billion). Kyocera is ranked #549 on Forbes magazine’s 2020 “Global 2000” list of the world’s largest publicly traded companies.
View source version on businesswire.com:
