KYOTO -- Kyocera is going on the offensive with an eye toward achieving 2 trillion yen ($18.37 billion) in group sales in a few years, budgeting record outlays for capital investment and research and development in the current fiscal year.
The Kyoto-based electronics maker will spend 170 billion yen on plants and equipment and 90 billion yen on R&D in fiscal 2021 through March 2022 to meet strong demand for its parts and to reinforce new businesses, such as 5G wireless technology and collaborative robots.
Although Kyocera beat Japanese rivals Nidec and Murata Manufacturing to reach 1 trillion yen in group sales first in fiscal 2000, both have since caught up. Annual sales for the three companies are now at 1.5 trillion yen to 1.6 trillion yen. With its aggressive investment strategy, Kyocera hopes to regain growth momentum.
In the January-March period, "our earnings as a whole bounced back almost to the level before the adverse effects of the coronavirus became clear," Kyocera President Hideo Tanimoto said at an online press conference on April 27.
The company foresees a consolidated operating profit of 117 billion yen in fiscal 2021, up 66% from the previous year, on record sales of 1.73 trillion yen.
The company aims to achieve its 2 trillion yen sales target "in two to three years," Tanimoto said. read the rest here
