KYOTO, Japan--(BUSINESS WIRE)--Kyocera Corporation (TOKYO:6971) today announced its consolidated financial results for the first half of fiscal year 2023, covering the six months ended September 30, 2022 (the “first half,” or “FY23-H1”), as summarized below. Complete details are available at: https://global.kyocera.com/ir/library/f_results.html
Consolidated Results of Operations: First Half
| Unit: Millions (except percentages and per-share amounts) | ||||||
| Six Months Ended September 30, | ||||||
2021 | 2022 | Change | 2022 | 2022 | ||
Amount | % | |||||
| Sales revenue: | 876,337 | 1,012,172 | 135,835 | 15.5 | 6,980 | 7,128 |
| Operating profit: | 75,679 | 76,488 | 809 | 1.1 | 528 | 539 |
| Profit before income taxes: | 99,351 | 104,311 | 4,960 | 5.0 | 719 | 735 |
| Profit attributable to owners of the parent: | 73,219 | 75,586 | 2,367 | 3.2 | 521 | 532 |
| Earnings per share attributable to owners of the parent (basic): | 202.01 | 210.60 | － | － | 1.45 | 1.48 |
| 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 = JPY145 and EUR1 = JPY142, rounded to the nearest unit (as of September 30, 2022) | ||||||
Summary
The unstable world situation further impacted supply chains during this first half, disrupting deliveries and creating strong inflationary pressure on the cost of raw materials. At the same time, the yen depreciated substantially in the foreign exchange market.
Despite supply and cost challenges, the company’s sales revenue reached a record first-half high, with increases in all three reporting segments compared to the prior first half. Recent capital investments in production infrastructure enabled the company to meet robust demand for components used in 5G- and semiconductor-related markets. Other notable revenue gains were made in the Industrial Tools and Document Solutions businesses. Additionally, the yen’s depreciation had the impact of increasing sales, after currency conversion, by approximately JPY103 billion (USD 710 million) compared to the prior first half. As a result, consolidated sales revenue increased by 15.5% over the prior first half, to JPY1,012,172 (USD 6,980) million.
Profits increased slightly, due mainly to an increased revenue as well as a favorable currency conversion factor, which alone added approximately JPY26 billion (USD179 million) to profit before income taxes. Together, these impacts more than offset a price increase of raw materials, a sales decrease in the Communications unit, and a one-time litigation settlement totaling approximately JPY7 billion (USD48 million).
Consolidated operating profit increased by 1.1% over the prior first half, to JPY76,488 (USD528) million; profit before income taxes increased by 5.0%, to JPY104,311 (USD719) million; and profit attributable to owners of the parent increased by 3.2%, to JPY75,586 (USD521) million. more here