KYOCERA Announces Consolidated Financial Results for Third Quarter, Ended Dec. 31, 2022

Kyocera Corporation (TOKYO: 6971) today announced its consolidated financial results for the third quarter of the fiscal year ending March 31, 2023. Results are summarized below, both as an aggregation of Kyocera’s first three fiscal quarters (the “period,” i.e., nine months), and as the third quarter alone (the “quarter,” i.e., three months) ended Dec. 31, 2022. Complete details are available at: https://global.kyocera.com/ir/library/f_results.html

Consolidated Financial Highlights: Nine Months Ended December 31, 2022

Period Summary

This nine-month period was characterized by slowing economic growth rates amid an uncertain global situation, continuing inflation, rising global interest rates and a sharp depreciation in the Japanese yen. Concerning the company’s major revenue sources, the period brought continued robust demand in semiconductor-related markets; however, smartphone-related markets exhibited a slowing trend.

Due to the impact of the company’s investments in expanding component production for semiconductor-related markets, as well as the impact of the weaker yen, the period sales revenue increased by 12.6% over the prior-year period, to JPY1,526,497 (USD11,477) million, marking a record high.

Nevertheless, despite the weaker yen and increased sales revenue for the company as a whole, profit decreased as compared with the prior-year period as operating costs rose, particularly in raw materials and logistics. The Communications Unit experienced a sharp decrease in sales revenue during the period, and the company recorded slowing demand for components used in smartphones during the three months ended Dec. 31, 2022. The period also included two extraordinary costs totaling approximately 10 billion yen: approx. JPY7 billion in litigation costs during the three months ended Sept. 30, 2022, and approx. JPY3 billion in pension liabilities during the three months ended Dec. 31, 2022. Consequently, as compared with the prior-year period, operating profit decreased 3.9%, to JPY113,884 (USD856) million; profit before income taxes decreased 0.2%, to JPY162,756 (USD1,224) million; and profit attributable to owners of the parent decreased 0.9%, to JPY118,783 (USD893) million.

Consolidated Financial Highlights: Third Quarter

Guidance for the Fiscal Year Ending March 31, 2023

During this nine-month period, the company’s sales revenue increased most strongly in semiconductor-related markets. The three months ending Mar. 31, 2023 are forecast to bring slower economic growth, rising global inflation, lower volumes of smartphone sales and production, and higher costs, especially in raw materials and logistics. Under these circumstances, the company has revised its consolidated financial forecasts for the fiscal year ending March 31, 2023 as outlined in the table below.

Consolidated Forecast: Year Ending March 31, 2023

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. During the year ended March 31, 2022, the company’s consolidated sales revenue totaled 1.8 trillion yen (approx. US$15.1 billion). Kyocera is ranked #665 on Forbes magazine’s 2022 “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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230131006211/en/