Kyocera Reports 2007

Kyocera announces consolidated financial results for year ended March 31, 2008

April 25, 2008

2 Min Read

KYOTO, Japan -- Kyocera Corporation (NYSE:KYO) today announced its consolidated financial results for the fiscal year ended March 31, 2008 (fiscal 2008).

During fiscal 2008, the Kyocera Group worked aggressively to introduce new products and improve productivity in order to achieve continuous sales expansion and a high profit ratio.

Consolidated net sales for fiscal 2008 amounted to ¥1,290,436 (US$12,904) million ― a marginal increase of 0.5% compared with the fiscal year ended March 31, 2007 (fiscal 2007), but still marked the highest, as rising sales in the Components Business more than offset a sales decrease in the Equipment Business.

Profit from operations increased by 12.8% to ¥152,420 (US$1,524) million, reflecting a significant increase in profit in the Equipment Business, partially offset by diminished profit in the Components Business. Depreciation increased by ¥5,475 (US$54) million as revised tax codes in Japan triggered a comprehensive review of fixed asset values.

Income from continuing operations before income taxes increased by 11.7% to ¥174,842 (US$1,748) million, due to increases in the categories of A) equity in earnings of affiliates and unconsolidated subsidiaries, and B) interest and dividend income. Net income increased by 0.7% to ¥107,244 (US$1,072) million.

Sales in the Components Business increased by 4.5% as compared with fiscal 2007, to ¥679,990 (US$6,800) million, while operating profit decreased by 4.1%, to ¥100,373 (US$1,004) million. The operating profit ratio was 14.8%.

The Components Business sales increase was led by the Applied Ceramic Products Group, which enjoyed strong demand for solar energy products outside Japan. Despite increased profit in the Applied Ceramic Products Group, however, operating profit for the Components Business decreased overall compared to fiscal 2007, due to diminished profit from the Fine Ceramic Parts Group, Semiconductor Parts Group and Electronic Device Group.

Equipment Business sales decreased by 4.3% in comparison with fiscal 2007, to ¥497,563 (US$4,976) million, as increased sales at the Information Equipment Group were more than offset by a year-on-year decline in sales at the Telecommunications Equipment Group. Operating profit increased by 35.2%, to ¥46,324 (US$463) million, as a result of rising profit from both reporting segments. The operating profit ratio was 9.3%.

Kyocera Corp. (NYSE: KYO)

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