Kyocera posts record high sales revenue

The company has released its financial results for the nine months ended 31 December 2022.

Kyocera posted sales revenue of ¥1,526 billion ($11.75 billion/ €10.79 billion) for the nine-month period ended 31 December 2022, up 12.6% year-on-year. Operating profit was down 3.9% year-on-year over the period.

Within the Solutions Business segment, sales revenue for the first nine months increased 9.7% year-over-year to ¥792.64 billion ($6.1 billion/ €5.61 billion), however business profit for the segment decreased 32.3% compared to the same period of the previous year.

Kyocera said that reasons for the change in sales revenue in the Solutions Business segment is attributable to an increase in sales of major products in the Industrial Tools Unit and the Document Solutions Unit and a weaker yen. The decrease in profits the company attributes to a loss recorded in the Communications Unit caused by a steep drop in mobile phone sales volume and the increases in the price of raw materials, logistics cost, etc.

The company revised its forecasts down mainly due to its view of the weakening smart phone market and further increase in costs.