Kyocera Announces Consolidated Financial Results for Year Ended March 31, 2024

Kyocera Corporation (TOKYO:6971) today announced its consolidated financial results for the fiscal year ended March 31, 2024 (“fiscal year 2024” 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

Summary

The global economy remained generally solid during this period, with growth rates slowed by monetary policies in many regions and rising geopolitical risks. While orders recovered in the company’s key automotive components market, the semiconductor- and information & communication-related markets continued to struggle with inventory adjustments, leaving the recovery incomplete.

As compared to the prior fiscal year, consolidated sales revenue decreased by 1.0%, to JPY2,004,221 (USD13,273) million, due mainly to lower demand for major products in the Core Components and Electronic Components businesses, which more than offset increased sales revenue in the company’s Solutions business.

Consolidated profits declined also, due mainly to lower production capacity utilization rates caused by reduced orders, as well as an increase in labor expenses and other costs. Nonetheless, the company continued proactive capital investment to allow production expansion as recovery occurs in the future.

As a result, operating profit decreased by 27.7%, to JPY92,923 (USD615) million; profit before income taxes decreased by 22.7%, to JPY136,143 (USD902) million; and profit attributable to owners of the parent decreased by 21.0%, to JPY101,074 (USD669) million.

Consolidated Financial Highlights: Fourth Quarter

Consolidated Forecasts: Year Ending March 31, 2025

During fiscal year 2025, inventory adjustments are expected to continue in the semiconductor- and information & communication-related markets, which comprise the company’s major source of revenue; however, recovery is anticipated in the latter half (i.e., the six months ending March 31, 2025).

Kyocera aims to expand its business in the Core Components and Electronic Components segments by preparing thoroughly for a recovery in demand for semiconductor- and information & communication-related components, following our proactive and strategic capital investment initiative. In the Solutions segment, the company seeks to develop new products, services, and businesses. At the same time, Kyocera will strive to improve profitability through continued implementation of structural reforms aimed at revitalizing lower-profit, lower-growth businesses.

The consolidated financial forecasts outlined below are based on expected exchange rates of JPY145 to the U.S. dollar and JPY155 to the euro during the fiscal year ending March 31, 2025.

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 #672 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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