KYOCERA Announces Consolidated Financial Results for Year Ended March 31, 2021

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.

Metadata
Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, April 27, 2021
Information
Tags: 
Hardware, Alternative energy, Energy, Technology, Automotive Manufacturing, Semiconductor, Manufacturing, Mobile, Wireless, Accounting, Corporate taxation, Depreciation, Revenue
Geotags: 
Japan
⚠generated by AI ↴
Summary
Key Points: 
  • 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.\nProfit 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, sales revenue was pushed down by approximately JPY9 billion (USD81 million) compared to the prior year.\nThree Months Ended March 31,\n'


Kyocera Corporation (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: https://global.kyocera.com/ir/library/f_results.html

Consolidated Results: Year-Over-Year

Unit: Millions (except percentages and per-share amounts)
Year Ended March 31,

2020

(FY20)

in JPY

2021

(FY21)

in JPY

Change

2021

(FY21)

in USD

2021

(FY21)

in EUR

Amount

in JPY

%

Sales revenue:

1,599,053

1,526,897

(72,156

)

(4.5

)

13,756

11,745

Operating profit:

100,193

70,644

(29,549

)

(29.5

)

636

543

Profit before income taxes:

148,826

117,559

(31,267

)

(21.0

)

1,059

904

Profit attributable to owners of
the parent:

107,721

90,214

(17,507

)

(16.3

)

813

694

Earnings per share attributable
to owners of the parent (basic):

297.36

248.91

－

 

－

 

2.24

1.91

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 = JPY111 and EUR1 = JPY130, rounded to the nearest unit (as of March 31, 2021)

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

Unit: Millions (except percentages)
Three Months Ended March 31,
2020
(FY20-Q4)
in JPY		 2021
(FY21-Q4)
in JPY		 Change 2021
(FY21-Q4)
in USD		 2021
(FY21-Q4)
in EUR
Amount
in JPY		 %
Sales revenue:

402,168

426,363

24,195

 

6.0

 

3,841

3,280

Operating profit:

5,333

27,661

22,328

 

418.7

 

249

213

Profit before income taxes:

7,197

30,343

23,146

 

321.6

 

273

233

Profit attributable to owners of
the parent:

6,456

26,283

19,827

 

307.1

 

237

202

(See note above regarding exchange rates.)

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.

Unit: Yen in millions (except percentages, per-share amounts and exchange rates)
Fiscal 2021
Results		 Fiscal 2022
Forecasts		 Change
(%) from
Fiscal 2021
Results
 
Sales revenue:

1,526,897

1,730,000

13.3

Operating profit:

70,644

117,000

65.6

Profit before income taxes:

117,559

160,000

36.1

Profit attributable to owners of the parent:

90,214

113,000

25.3

Earnings per share attributable to owners of the parent (basic):

248.91

311.78

*

-

Average USD exchange rate:

106

105

-

Average EUR exchange rate:

124

125

-

*Based on the average number of shares outstanding during the year ended March 31, 2021

Forward‐Looking Statements

Please refer to https://global.kyocera.com/ir/disclaimer.html

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. 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.”

Copyright: 
Copyright Business Wire 2021