Kyocera Corporation (NYSE:KYO)(TOKYO:6971) today announced consolidated financial results for the first half of fiscal year 2018 (“first half,” covering the six months ended Sept. 30, 2017). Robust market conditions for information and telecommunications equipment, automobiles, and industrial machinery fueled a significant increase in first-half revenue from industrial components, automotive components and electronic devices. Revenue from document solutions business expanded as well, following new product launches and related sales promotion activities. As a result, the company achieved record first-half sales of JPY738,345 (USD6,534) million, an increase of JPY85,102 (USD753) million, or 13.0%, over the same period of the prior year.
While part of revenue growth can be attributed to yen weakening against dollar and euro, there is still enough steam in revenue growth to indicate end of protracted global recession. Kyocera has become a leading supplier of industrial and automotive components, semiconductor packages, electronic devices, printers, copiers, mobile phones and solar power generating systems and as such its revenue growth is a good indicator of robustness both in manufacturing and consumer market segments.
Profit increased significantly in the components business and equipment & systems business due mainly to corporate restructuring implemented during the prior year, as well as to stronger sales and cost reduction efforts. Profit from operations increased 105.7%, to JPY69,505 (USD615) million; income before income taxes increased 80.8%, to JPY87,840 (USD777) million; and net income attributable to shareholders of Kyocera Corporation increased 69.8%, to JPY61,387 (USD543) million.
“Because demand for components is expected to remain strong in the second half, Kyocera will raise production capacity in Japan, North America and Asia for fine ceramic components, industrial tools and electronic devices,” stated Kyocera Corporation President Hideo Tanimoto.