Kyocera Announces Consolidated Financial Results for Year Ended March 31, 2022

KYOTO, Japan--(BUSINESS WIRE)-- Kyocera Corporation (TOKYO:6971) today announced its consolidated financial results for the fiscal year ended March 31, 2022 (“fiscal year 2022” 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,
	2021 (FY21) in JPY	2022 (FY22) in JPY	Change		2022 (FY22) in USD	2022 (FY22) in EUR
			Amount in JPY	%
Sales revenue:	1,526,897	1,838,938	312,041	20.4	15,073	13,423
Operating profit:	70,644	148,910	78,266	110.8	1,221	1,087
Profit before income taxes:	117,559	198,947	81,388	69.2	1,631	1,452
Profit attributable to owners of the parent:	90,214	148,414	58,200	64.5	1,217	1,083
Earnings per share attributable to owners of the parent (basic):	248.91	411.15	－	－	3.37	3.00
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 = JPY122 and EUR1 = JPY137, rounded to the nearest unit (as of March 31, 2022)

Summary

While many manufacturers continue to experience supply-chain challenges, including a semiconductor shortage and rising materials costs, the global economy generally recovered in fiscal year 2022 amid a wider availability of COVID-19 vaccines in many regions.

Kyocera achieved higher sales and profit in all business segments compared to the prior year, with the improved business environment bringing especially strong demand for components used in 5G communications and semiconductor-related markets. As a result, consolidated sales revenue reached a record JPY1,838,938 (USD15,073) million in fiscal year 2022, rising 20.4% over the prior year.

Profit increased as well, reflecting higher sales revenue, gains in productivity and cost reduction in each segment, and the absence of an impairment loss of approximately JPY11.5 billion (USD94 million) that was recorded in the smart energy business in the prior year. As a result, operating profit increased by 110.8% over the prior year, to JPY148,910 (USD1,221) million; profit before income taxes increased by 69.2%, to JPY198,947 (USD1,631) million; and profit attributable to owners of the parent increased by 64.5%, to JPY148,414 (USD1,217) million.

Average exchange rates for the period show the Japanese yen weakened by 5.7% against the U.S. dollar, to JPY112, and 5.6% against euro, to JPY131. As a result, sales revenue and profit before income taxes were pushed up by approximately JPY68 billion (USD557 million), and JPY20 billion (USD164 million), respectively, compared to the prior year.

Consolidated Financial Highlights: Fourth Quarter

Unit: Millions (except percentages)
	Three Months Ended March 31,
	2021 (FY21-Q4) in JPY	2022 (FY22-Q4) in JPY	Change		2022 (FY22-Q4) in USD	2022 (FY22-Q4) in EUR
			Amount in JPY	%
Sales revenue:	426,363	483,273	56,910	13.3	3,961	3,528
Operating profit:	27,661	30,452	2,791	10.1	250	222
Profit before income taxes:	30,343	35,844	5,501	18.1	294	262
Profit attributable to owners of the parent:	26,283	28,581	2,298	8.7	234	209
(See note above regarding exchange rates.)

Consolidated Forecasts: Year Ending March 31, 2023

Despite uncertainty surrounding COVID-19, inflation, continuing supply-chain challenges, and geopolitical instability, demand for components used in 5G and semiconductor-related markets is expected to remain robust during the fiscal year ending March 31, 2023. Kyocera aims to achieve its medium-term sales revenue goal of JPY2 trillion (USD17 billion), while further increasing profitability, by introducing new products, accelerating new business development, and making capital investments to enhance manufacturing capabilities and capacities.

We expect exchange rates of JPY115 to the U.S. dollar and JPY125 to the euro during the fiscal year ending March 31, 2023.

Unit: Yen in millions (except percentages, per-share amounts and exchange rates)
		Fiscal 2022 Results		Fiscal 2023 Forecasts		Change (%) from Fiscal 2022 Results
Sales revenue:		1,838,938		2,000,000		8.8
Operating profit:		148,910		174,000		16.8
Profit before income taxes:		198,947		220,000		10.6
Profit attributable to owners of the parent:		148,414		154,000		3.8
Earnings per share attributable to owners of the parent (basic):		411.15		426.63	*	-
Average USD exchange rate:		112		115		-
Average EUR exchange rate:		131		125		-
*Based on the average number of shares outstanding during the year ended March 31, 2022

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 #603 on Forbes magazine’s 2021 “Global 2000” list of the world’s largest publicly traded companies, and has been listed among “The World’s 100 Most Sustainably Managed Companies” by The Wall Street Journal.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220427006245/en/

KYOCERA Corporation (Japan), Corporate Communications

Kenichi Hara

Tel: +81-(0)75-604-3514

Fax: +81-(0)75-604-3516

webmaster.pressgl@kyocera.jp

Source: KYOCERA Corporation

FAQ

What are the financial results of Kyocera for FY 2022?

Kyocera reported record sales revenue of JPY 1,838,938 million, up 20.4% year-over-year, with significant increases in profits across all segments.

What is Kyocera's profit forecast for FY 2023?

Kyocera aims for JPY 2 trillion in sales revenue for FY 2023, focusing on new product introductions and enhanced manufacturing capabilities.

How did Kyocera's profits change in FY 2022?

Operating profit increased by 110.8% to JPY 148,910 million, while profit before income taxes rose 69.2% to JPY 198,947 million.

What factors contributed to Kyocera's growth in FY 2022?

Growth was attributed to increased sales in 5G and semiconductor markets, improved productivity, and effective cost reduction.

What are the expected exchange rates for FY 2023?

Kyocera expects average exchange rates of JPY 115 to the U.S. dollar and JPY 125 to the euro during FY 2023.