CORRECTING and REPLACING KYOCERA Announces Consolidated Financial Results for Six Months Ended September 30, 2017

KYOTO, Japan--(BUSINESS WIRE)--In the third table, "Diluted earnings per share attributable to Kyocera Corporation's shareholders:" for “Fiscal 2018 Forecast Announced on May 1” should read: 285.77 (instead of 285.55).

The corrected release reads: 

KYOCERA ANNOUNCES CONSOLIDATED FINANCIAL RESULTS FOR SIX MONTHS ENDED SEPTEMBER 30, 2017

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), as summarized below. Details are available at: https://global.kyocera.com/ir/financial/f_results.html

Summary
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.

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.

Average exchange rates for the first half reflect the Japanese yen weakening against the U.S. dollar by approximately 5.7%, to JPY111, and by 6.8% against the euro, to JPY126, as compared with the same period of the prior year. As a result, net sales and income before income taxes were pushed up by approximately JPY24 billion and JPY7 billion, respectively, as compared with the prior first half.

Expectations for the Full Fiscal Year
The consolidated financial forecasts that Kyocera announced on May 1, 2017 for the year ending March 31, 2018 have been revised upward for the following reasons:

• First-half sales and profit grew beyond original projections due primarily to a favorable business environment in major components markets.
• Overall demand for parts used in industrial machinery and automotive-related components is expected to rise in the second half.
• The Japanese yen is expected to remain valued lower than originally forecast in relation to other major currencies during the second half.

“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. “We aim to further expand sales through business investments, acquiring the power tools business of Ryobi Limited, as well as the automotive sensor business from TT Electronics plc, which was acquired this month by AVX Corporation, a U.S.-based Kyocera subsidiary. We expect record sales for the full fiscal year.”

The average exchange rates that Kyocera projected in its May 1 forecast have been revised for the second half, from JPY108 to JPY110 against the U.S. dollar; and from JPY115 to JPY130 against the euro. As a result, Kyocera’s forecast of average exchange rates for the year ending March 31, 2018 have been revised to JPY111 to the U.S. dollar, and JPY128 to the euro.

FORWARD-LOOKING STATEMENTS
Except for historical information contained herein, the matters set forth in this press release are forward-looking statements that involve risks and uncertainties including, but not limited to, product demand, competition, regulatory approvals, the effect of economic conditions and technological difficulties, and other risks detailed in the Company’s filings with the U.S. Securities and Exchange Commission.

About KYOCERA
Kyocera Corporation (NYSE:KYO, TOKYO:6971, http://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, printers, copiers, mobile phones and solar power generating systems. During the year ended March 31, 2017, the company’s consolidated net sales totaled 1.42 trillion yen (approx. USD12.7 billion). Kyocera appears on the “Top 100 Global Innovators” list by Clarivate Analytics and is ranked #522 on Forbes magazine’s 2017 “Global 2000” list of the world’s largest publicly traded companies.