Share Buyback Suggests a Small but Steady Progress on Kyocera’s Corporate Governance
Kyocera’s operating income for fiscal year 2018 (financial year ending March 2018) was JPY 96 billion, substantially in line with our forecast of JPY 142 billion, as reported numbers include a onetime writedown of approximately JPY 50 billion relating to the long-term purchase contract for procurement of polysilicon. While reported numbers were within our expectation, Kyocera’s share price surged 12.6% on the following day as the company announced buying back 2% of its shares. Kyocera has been r...
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