KYOTO, Japan--(BUSINESS WIRE)--Kyocera Corporation (TOKYO:6971) today announced its consolidated financial results for the three months ended June 30, 2020 (the “first quarter,” or “FY21-Q1”), as summarized below. Complete details are available at:
Consolidated Results of Operations: Three Months Ended June 30
|Unit: Millions (except percentages and per-share amounts)|
|Three Months Ended June 30,|
|Profit before income taxes:|
|Profit attributable to owners of the parent:|
|Earnings per share attributable to owners of the parent (basic):|
|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 = JPY108 and EUR1 = JPY121, rounded to the nearest unit (as of June 30, 2020)|
First-quarter sales revenue and profits both declined as compared to the prior-year period due to weaker demand in major markets, reflecting global economic stagnation caused primarily by the COVID-19 pandemic.
In the Components Business, sales revenue from the Electronic Devices Group declined due mainly to lower sales at AVX Corporation, a U.S. subsidiary, alongside a general slowdown in manufacturing, particularly in the automotive industry. In the Equipment & Systems Business, sales revenue from the Document Solutions Group declined as the trend toward remote work suppressed institutional demand for office equipment and consumables. As a result, total first-quarter sales revenue decreased by JPY67,843 (USD 628) million, or 17.6%, as compared to the prior year’s first quarter, to JPY317,094 (USD2,936) million.
Profit declined as well, due mainly to lower sales revenue in most business segments. Compared to the prior first quarter, operating profit decreased by JPY15,055 (USD139) million, or 66.5%, to JPY7,574 (USD70) million; profit before income taxes decreased by JPY15,075 (USD140) million, or 33.1%, to JPY30,411 (USD282) million; and profit attributable to owners of the parent decreased by JPY9,657 (USD89) million, or 30.1%, to JPY22,380 (USD207) million. read more here