KYOCERA Announces Consolidated Financial Results for Year Ended March 31, 2021
KYOTO, Japan--(BUSINESS WIRE)--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 | 2021 | Change | 2021 | 2021 | ||||
Amount | % | |||||||
| 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. read more here