KYOTO, Japan--(BUSINESS WIRE)--

(TOKYO:6971) today announced its consolidated financial results for the fiscal year ended March 31, 2021 (“fiscal year 2021” or “the period”), as summarized below. Complete details are available at:

Consolidated Results: Year-Over-Year

Summary

Sales revenue and profit both decreased compared to fiscal year 2020 results, due primarily to the economic slowdown caused by the COVID-19 pandemic. In the Components Business, sales revenue increased slightly over the prior year due to M&A revenue contributions and increased demand for components used in semiconductor and 5G-related markets, which collectively offset a sharp first-quarter drop in demand from the automotive-related market. However, sales revenue decreased in the Equipment and Systems Business. As a result, consolidated sales revenue for fiscal year 2021 totaled JPY1,526,897 (USD13,756) million, a decrease of 4.5% from the prior year.

Profit decreased due to decreased sales revenue, increased depreciation charges, and the recording of a one-time impairment loss in the smart energy business. As a result, in comparison with the prior year, operating profit decreased by JPY29,549 (USD266) million, or 29.5%, to JPY70,644 (USD636) million; profit before income taxes decreased by JPY31,267 (USD282) million, or 21.0%, to JPY117,559 (USD1,059) million; and profit attributable to owners of the parent decreased by JPY17,507 (USD158) million, or 16.3%, to JPY90,214 (USD813) million.

Average exchange rates for the period show the Japanese yen strengthened by 2.8% against the U.S. dollar, to JPY106, and weakened by 2.5% against euro, to JPY124. As a result, sales revenue was pushed down by approximately JPY9 billion (USD81 million) compared to the prior year.

Consolidated Financial Highlights: Fourth Quarter

Consolidated Forecasts: Year Ending March 31, 2022

Although future economic conditions and the COVID-19 pandemic remain shrouded in uncertainty, the global economy is expected to improve in the fiscal year ending March 31, 2022 as a result of better COVID-19 prevention measures, stimulus policies, and the gradual reopening of major economies worldwide. The company will strive to expand its Components Business by enhancing its manufacturing systems to increase production capacity for components that support 5G wireless communication, semiconductor processing equipment and packaging, and Advanced Driver Assistance Systems (ADAS), all of which will rise in demand as digitization advances. In the Solutions Business, the company will focus on aggressively developing new products and businesses, particularly in the Document Solutions Business. In addition to these efforts, the company will introduce automated production lines utilizing AI and robots to further improve productivity across Kyocera group companies. With the above strategies, Kyocera aims to seek record sales and to improve profitability in the next fiscal year. We expect exchange rates of JPY105 to the U.S. dollar and JPY125 to the euro during the fiscal year ending March 31, 2022.

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. Kyocera is ranked #549 on Forbes magazine’s 2020 “Global 2000” list of the world’s largest publicly traded companies, and appears on The Wall Street Journal’s latest list of “The World’s 100 Most Sustainably Managed Companies.”

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