KYOTO, Japan--(BUSINESS WIRE)--

Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced consolidated financial results for the first half of fiscal year 2017 (“first half” or “FY17-H1,” covering the six months ended September 30, 2016), as summarized below. Details are available at: http://global.kyocera.com/ir/financial/f_results.html

Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are provided based on the rates of USD1 = JPY101 and EUR1 = JPY113, rounded to the nearest unit (as of September 30, 2016).

Summary

The principal markets served by Kyocera Corporation and its subsidiaries (the “Kyocera Group” or “Kyocera”) experienced mixed results during this first half:

• In the automotive market, growth remained stable due primarily to rising vehicle sales in China and Europe.

• In the information and communications market, while demand grew for certain miniaturized, highly functional components, demand for other component products slackened due to stagnating shipments of smartphones and production adjustments by mobile phone manufacturers worldwide.

• In the global solar energy market, photovoltaic module pricing continued to erode; and, Japan-market demand decreased due to the impact of changes to a feed-in tariff that reduced the price of power purchased from solar power system owners.

Consolidated net sales for the first half decreased 9.6% over the previous first half, to JPY653,243 (USD6,468) million due mainly to the impact of the yen’s appreciation; profit from operations decreased 45.5%, to JPY33,785 (USD335) million; income before income taxes decreased 37.7%, to JPY48,578 (USD481) million; and net income attributable to shareholders of Kyocera Corporation decreased 28.8%, to JPY36,153 (USD358) million. It should be noted that the previous first half included profit from a sale of assets in the amount of approximately JPY12 billion.

Note: As a convenience to the reader, U.S. dollar (USD) and euro (EUR) conversions are provided based on the rates of USD1 = JPY101 and EUR1 = JPY113, rounded to the nearest unit (as of September 30, 2016).

Expectations for the Full Fiscal Year

For the three months ending December 31, 2016 and thereafter, uncertainty exists regarding the demand trend for smartphone components; however, Kyocera expects increased sales of solar energy products — principally for industrial use in the Japanese market — and increased sales in its equipment business, due to new product launches and sales promotion activities. Based on these expectations, Kyocera’s sales and profit forecasts for the fiscal year ending March 31, 2017 remain unchanged from those announced on April 27, 2016. However, as shown in the table below, Kyocera has revised its full-year forecasts of average exchange rates (announced in July 2016 as JPY106 to the U.S. dollar and JPY117 to the euro).

* Forecast of “Diluted earnings per share attributable to shareholders of Kyocera Corporation” is based on the diluted average number of shares outstanding during the six months ended September 30, 2016.

FORWARD-LOOKING STATEMENTS

Except for historical information contained herein, the matters set forth in this press release are forward-looking statements that involve risks and uncertainties including, but not limited to, product demand, competition, regulatory approvals, the effect of economic conditions and technological difficulties, and other risks detailed in the Company’s filings with the U.S. Securities and Exchange Commission.

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 printers, copiers, mobile phones, solar power generating systems, electronic components, semiconductor packages, cutting tools and industrial ceramics. Kyocera appears on the Thomson Reuters list of the “Top 100 Global Innovators” and is ranked #531 on Forbes magazine’s 2016 “Global 2000” listing of the world’s largest publicly traded companies.

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