KYOCERA Announces Consolidated Financial Results for Three Months Ended June 30, 2023

KYOTO, Japan–(BUSINESS WIRE)–Kyocera Corporation (TOKYO:6971) today announced its consolidated financial results for the three months ended June 30, 2023 (the “first quarter,” or “FY24-Q1”), as summarized below. Complete details are available at:

https://global.kyocera.com/ir/library/f_results.html

Consolidated Results of Operations: Three Months Ended June 30

Unit: Millions (except percentages and per-share amounts)
	Three Months Ended June 30,
	2022 (FY23-Q1) in JPY	2023 (FY24-Q1) in JPY	Change		2023 (FY24-Q1) in USD	2023 (FY24-Q1) in EUR
			Amount in JPY	%
Sales revenue:	491,954	479,420	(12,534)	(2.5)	3,306	3,034
Operating profit:	41,428	25,677	(15,751)	(38.0)	177	163
Profit before income taxes:	68,711	50,477	(18,234)	(26.5)	348	319
Profit attributable to owners of the parent:	49,974	37,392	(12,582)	(25.2)	258	237
Earnings per share attributable to owners of the parent (basic):	139.24	105.32	－	－	0.73	0.67
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 = JPY145 and EUR1 = JPY158, rounded to the nearest unit (as of June 30, 2023)

Summary

The first-quarter operating environment was characterized by continued geopolitical uncertainty, unstable foreign exchange markets, and inflation in prices and wages. The company’s main revenue drivers, which include the semiconductor-related as well as the information and communications markets, remained in an adjustment phase.

Within this environment, first-quarter consolidated sales revenue decreased 2.5%, to JPY479,420 (USD3,306) million, due mainly to lower demand for key components, despite the favorable impact of a depreciating Japanese yen.

Alongside lower sales, profits decreased due mainly to inflationary price increases in raw materials and energy. Consequently, operating profit decreased 38.0%, to JPY25,677 (USD177) million; profit before income taxes decreased 26.5%, to JPY50,477 (USD348) million; and profit attributable to owners of the parent decreased 25.2%, to JPY37,392 (USD258) million, compared to the prior-year first quarter.

Consolidated Forecasts: Year Ending March 31, 2024

The company’s consolidated financial forecasts for the year ending March 31, 2024 (“fiscal 2024”) remain unchanged from those announced in May 2023 since the first-quarter results stayed within the range of our original public projections. Recovery in semiconductor-related markets, as well as information and communications markets, is expected to commence from the second half onward beginning October 1, 2023.

The Kyocera Group aims to achieve its full-year consolidated financial forecasts by booking new orders, expanding sales and seizing new profitability improvement opportunities.

Unit: Yen in millions (except percentages, per-share amounts and exchange rates)
		Fiscal 2023 Results		Fiscal 2024 Forecasts		Change (%) from Fiscal 2023 Results
Sales revenue:		2,025,332		2,100,000		3.7
Operating profit:		128,517		147,000		14.4
Profit before income taxes:		176,192		200,000		13.5
Profit attributable to owners of the parent:		127,988		145,000		13.3
Earnings per share attributable to owners of the parent (basic):		356.60		408.40	*	–
Average USD exchange rate:		135		125		–
Average EUR exchange rate:		141		130		–
*Based on the average number of shares outstanding during the three months ended June 30, 2023

FORWARD-LOOKING STATEMENTS

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About KYOCERA

Kyocera Corporation (TOKYO:6971, https://global.kyocera.com/), 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, 2023, the company’s consolidated sales revenue totaled 2 trillion yen (approx. US$15.1 billion). Kyocera is ranked #671 on Forbes magazine’s 2023 “Global 2000” list of the world’s largest publicly traded companies, and has been named among “The World’s 100 Most Sustainably Managed Companies” by The Wall Street Journal.

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Contacts

KYOCERA Corporation (Japan)

Corporate Communications

Kenichi Hara

Tel: +81-(0)75-604-3416

Fax: +81-(0)75-604-3516

webmaster.pressgl@kyocera.jp