Tokyo (April 26, 2024) — Kyocera Corp., parent company of Kyocera Document Solutions America, released its consolidated financial results for the fiscal year ended March 31, 2024. Sales revenue fell 1% year over year and operating profit tumbled precipitously, a 27.7% drop.
Other key indicators saw Kyocera’s profit before income taxes (22.7%) and profit attributable to owners of the parent (21%) sustain significant losses. The aforementioned consolidated sales revenue decrease was attributable to lower demand for major products in the core components and electronic components businesses, which more than offset increased sales revenue in the company’s solutions business.
Consolidated profits declined due mainly to lower production capacity utilization rates caused by reduced orders, as well as an increase in labor expenses and other costs. Nonetheless, the company continued proactive capital investment to allow production expansion as recovery occurs in the future.
During fiscal year 2025, inventory adjustments are expected to continue in the semiconductor- and information & communication-related markets, which comprise the company’s major source of revenue; however, recovery is anticipated in the latter half (i.e., the six months ending March 31, 2025).
Kyocera aims to expand its business in the Core Components and Electronic Components segments by preparing thoroughly for a recovery in demand for semiconductor- and information & communication-related components, following our proactive and strategic capital investment initiative. In the Solutions segment, the company seeks to develop new products, services, and businesses. At the same time, Kyocera will strive to improve profitability through continued implementation of structural reforms aimed at revitalizing lower-profit, lower-growth businesses.
The consolidated financial forecasts outlined below are based on expected exchange rates of JPY145 to the U.S. dollar and JPY155 to the euro during the fiscal year ending March 31, 2025.
