KYOTO, Japan--(BUSINESS WIRE)--
(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:
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
(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 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.
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